Getting sidetracked while trading...

[coolweb]

the problem is , you havent' figured out what to "look for"

theres lots of things thats just happening, that is of no use to people, you staring at the charts concentrating on a 2 hour chop within a 50 cent range is of no value to your overall trading

you must figure out what to look for preceding on things that you want will happen (price going in your direction)

once you figure that out, just look for those things, its equivalent to spotting a black bear in a green forest.

If you don't know you are looking for a black bear, you'd be staring at a green forest going crazy not realizing what in the world are you looking for, how can you concentrate when you don't even know the target you are trying to find?

 

[Cutten]

Quote from Rearden Metal:

Serious question to all: Is anyone here able to make a living from trading <b><i>without</b></i> routinely achieving the state of mind called "flow" (aka "in the zone")?

Yes - I don't get any "flow" with medium & long-term positions.

During quiet trading days, I can usually eke out a small profit, but don't get into a flow state since there isn't enough happening to be stimulating.

In active trading sessions I get several of the symptoms you described e.g. time seems to pass slowly. I'll often feel hours have passed, then look up and it's only 50 mins into the day.

 

[Cutten]

For the original poster, I don't think it's an attention span issue. I have a very short attention span and have no problem following price for a long time.

I think perhaps it's lack of interest in trading, or hunger to succeed. When I was starting, I would obsessively follow the price, trying to figure it out. Surfing the net or other useless shit like that was the last thing on my mind. That only came later once I was successful and thought I could afford it i.e. complacency.

If you have not yet reached consistent profitability, and are getting easily distracted, then trading may not be for you.

 

[Picaso]

Some great posts, thanks everybody for sharing.

Quote from SoCalTrader619:

I'm 25 years old, and an Air Traffic Controller at LAX.

Hi Socal,

Do you surf the net, watch youtube, chat on Skype, etc. while you're landing planes?

What would happen if you did?

What would happen if you treated your trading like you treat your job?

What can you transfer from your job as an air traffic controller to trading?

Some suggestions: audio alerts, frequent breaks, less is more, discard all info that you don't really need or watch it only at set periods, etc.

Dandxg, could you elaborate on meditation/hypnosis, please? I'm looking into both, not looking for miracles, just want to expand my attention span to increase my opportunity base (ugh, this sounds weird ).

Best trading to all,

Jorge

 

[rock34748]

Quote from coolweb:

the problem is , you havent' figured out what to "look for"

you must figure out what to look for preceding on things that you want will happen (price going in your direction)

once you figure that out, just look for those things, its equivalent to spotting a black bear in a green forest.


coolweb... You figured this newbie (me) out for sure. Thanks for your post and the OP for this thread. I read cool's response and said that's me. One difference for me though, I'm loving (sim) trading, loving losing (sim) trades, loving (sim) earnings. I am kicking myself for NOT documenting my reasons for entering and exiting enough, but working on it and the psychology of trading for real.

I feel a little like Neo looking at the Matrix screens after he first woke up. I am studying, reading, charting, sim-trading, for hours and WILL soon gain the understanding of the markets almost to the point of feeling them... like inside the Matrix...

I'm glad my passion for trading is shared by so many here. I was a little worried I am too passionate about trading but it's great to share the affliction with so many here on ET.

 

[yoohoo]

Ok S619, I’m at a fun all nite party so I got 10 mins to try n’ help sort this out. Looks pretty simple…

1. You been at this game 6 yrs
2. After 5.5 yrs you “finally decide not to rely on lagging indicators”
3. You are now in the process of studying PA and S&R
4. You spend hours doing research and don’t focus

Honestly this is an inner game and you are mentally puking up. You subconscious knows fine well you don’t have a clue how to see and take a trade with real confidence so it does what it needs to do to preserve sanity – get you to look away at the important times to avoid more pain. It’s a real common problem and if you didn’t have a good job and income you’d develop ill health.

Time for a reality check:
LEVEL 1 Class 1 – This is a chart. Class 2 – This is S&R. Class 3 – Trendlines. Class 4 – Buy and Sell signals. etc.
LEVEL 2 Class 1 – Intermediate Level Entry/Exit signals. Class 2 Reversal/Continuation Signals 3 Daily Journal with screenshots 4 Basic Multiple Time Frames etc.

After 6 yrs you should be able to write a book on how to do this but because you didn’t lay a good foundation you are mentally on the run. You have a job that shows you are intelligent and can cope with stress, but your mind is smarter than you are because you are asking it an impossible question – where is the BUY signal. You're clueless. You have great ability to focus, I hope, or I won’t feel safe flying!

Get the basics down so your can see screaming signals and your hungry mind will stay focused because there’s something to look at that it can make sense of. Right now you might as well look at 10 planes on a screen without knowing speed or altitude and surf the Internet when they are about to meet because you’d no hope of knowing if they were going to collide.

Oh, and for the record – everything works. Indicators don’t lag. But that’s for another day

 

[SoCalTrader619]

Quote from yoohoo:

Ok S619, I’m at a fun all nite party so I got 10 mins to try n’ help sort this out. Looks pretty simple…

1. You been at this game 6 yrs
2. After 5.5 yrs you “finally decide not to rely on lagging indicators”
3. You are now in the process of studying PA and S&R
4. You spend hours doing research and don’t focus

Honestly this is an inner game and you are mentally puking up. You subconscious knows fine well you don’t have a clue how to see and take a trade with real confidence so it does what it needs to do to preserve sanity – get you to look away at the important times to avoid more pain. It’s a real common problem and if you didn’t have a good job and income you’d develop ill health.

Time for a reality check:
LEVEL 1 Class 1 – This is a chart. Class 2 – This is S&R. Class 3 – Trendlines. Class 4 – Buy and Sell signals. etc.
LEVEL 2 Class 1 – Intermediate Level Entry/Exit signals. Class 2 Reversal/Continuation Signals 3 Daily Journal with screenshots 4 Basic Multiple Time Frames etc.

After 6 yrs you should be able to write a book on how to do this but because you didn’t lay a good foundation you are mentally on the run. You have a job that shows you are intelligent and can cope with stress, but your mind is smarter than you are because you are asking it an impossible question – where is the BUY signal. You're clueless. You have great ability to focus, I hope, or I won’t feel safe flying!

Get the basics down so your can see screaming signals and your hungry mind will stay focused because there’s something to look at that it can make sense of. Right now you might as well look at 10 planes on a screen without knowing speed or altitude and surf the Internet when they are about to meet because you’d no hope of knowing if they were going to collide.

Oh, and for the record – everything works. Indicators don’t lag. But that’s for another day

Yahoo... thanks for the reality check. Excellent post and you are exactly right. Sometimes I have the feeling that I'm sabotaging myself. Sleeping in, finding an excuse to walk away from the computer when a signal is nearing, blaming everything except for myself.
My mindset as an Air Traffic Controller, is that I have to be correct 100% of the time, or else planes crash and people die. I need to leave that mindset at work and not bring it into my trading. Losing money has made me lose my confidence. I am now starting to go back to the basics.
I really appreciate your advice and will work my way back through the Level 1 and Level 2 classes you posted. I do have a great grasp on trading in general... I think my biggest issue now is putting it all together.
I catch myself still searching for that "Holy Grail" which doesn't exist. I need to chose one method, and master it. This is what I'm working on and any more advice is welcomed.