Quote from osho67:
I have tried AHG style trading (paper trading). I have tried now for 3-4 months.
I get tired and exhausted . Cant keep the concentration and feel drained out. Feel sleepy as well.
I have accepted that maybe I am not suited for day trading. Too much demanding for me.
I would like to give it a try to trade keeping position open from few days to 1-2 weeks. Still using AHG style.
Can this be done? Please give me some guidance-anybody who is doing this way or has some experience how this way can be done.
I am mostly trying NQ, ESTX50 and Z (FTSE100)
All help much appreciated. If I can trade a bit longer term, quality of my life will improve much and I can do lots of other interesting things.
Thanks again
osho,
I hear ya. Most days I am fine, but some days I have the same issues you talk about. Wouldn't you know those are the days I do the worst.
Here is my suggestion, before you decide to switch it up. It may or may not work for you, but I am going to do the same thing. Trade from 9:30 - 11:30(or 12) and 1:00(or1:30)-3:00(or 3:30). Generally these are the times with the best moves and most volume. Yes there have been good moves during lunch, but more often there is chop and or a total slowdown. Why not trade the hours that have a higher probability(and isn't that what trading is all about) for profit. This way, going in you know you only have to concentrate for only 2 hours at a time. The break gives you time to relax your mind and maybe go exerciset to get the blood flowing (which studies have shown increases concentration and mental awareness).
Statistically lunch time is by far my worst trading time, yet I continue to trade it. I think why I trade it and why I haven't made it over the hump, as far as trading goes, is for the same reason. I am afraid to miss a big move. But I am going to change that, starting next week I will not trade lunch and will exercise during this time. I will also get over my fear of missing moves.
Maybe my suggestion is not what you are looking for, but remember, you don't have to trade the entire day to make money. I think there are handful of traders out there that only trade the morning or afternoon. I don't disagree with you looking at a longer timeframe for trading, but don't forget that you will be holding positions overnight which can be equally or more stressful for some people. I will quote the common cliche phrase used by everyone, "You have to find out what works for you, what works for someone else may not work for you."
Anyway, good luck with whatever you decide.
