Does anybody drink while they trade to calm their nerves? Thus removing emotions from the business. We all know that emotions have no place in trading. I'm not talking about getting waxed, just a few drinks throughout the day.
Drinking & Trading
- Thread starter scalping_dimes
- Start date
12 pack every morning
Like I said, no getting drunk, just taking the edge off. Think about it.
My trading day starts off with a gin and tonic at 8:00am (ET). If important economic numbers are due out at either 8:30 or 10:00, I also invite over X hookers, where X is the number of reports that are due. Naturally all this is formalized in my Trading Plan - in fact I stop trading for the day when the first of the following contingencies is met :
(1) Down 10 ES points
(2) Reach 15 round turns
(3) Reach a blood-alcohol-level of 0.25%
(1) Down 10 ES points
(2) Reach 15 round turns
(3) Reach a blood-alcohol-level of 0.25%
Not more than one or two beers during the trading day. I wouldn't want to be buzzed enough to lessen the pain of a losing position. Without that pain, I may end up holding on too long.
ROFLMAO
Daytrading probably isn't the best thing to do while drinking, since reflexes are crucial and things can happen fast. It has been proven that just one drink can impare your reflexes substantially.
However, I've gravitated more towards observing interday trends that span days/weeks. I'm convinced that the further you shorten the timespan, the more meaningless the movements.