Quote from pairsarbtooo:
i don't get up to eat, pee, drink or anything.
I don't go to other websites except bloomberg.com in the morning to check some news.
I have a wire bound notebook that i draw vertical colums on. At the top of each column i write the stock im trading. in each column i write my current position in that stock
e.g. " -1200 glw @ 21.25" means my positions is 1200 short GLW with an average price of 21.25.
i draw a horizontal line through the prior position in that stock as it changes.
this is how i stay focused on my stuff, and its good when software goes down and I have to call the cleaqring firm to zero out my trades.
they straddle them. they can'[t see my positions so it's up to me to tell them what and how much to cover.
This HAS happened, and the backup gives me peace of mind which leads to focus.
GET a copy of the book GETTINGTHINGS DONE by robert allen, and adopt that system of mental organizing if you don't have a good one or find your focus bad.
I track the market using the DIA tracking stock. so I am generally writing down those numbers every few minutes, making mental notes of the pace and strength of the moves.
This helps keep me in tune with the overall market.
If I can do this for 6 hours a day, I generally make at least 1400 per day.
It's difficult. I guess brain surgery would require as much concentration. I concentrate on every trade, patterns etc. The markets never tell you when important price changes occur. To take advantage of them you have to be there and ready and intune. It could be at 635 am pst or 1024 am pst.
Sometimes I take a mid morning break and go to the gym. But most of the time those are minimal earnings days.
I drink about 2 gallons of water a day, usually a gallon by the time the first two hours of trading are done. This keeps me relaxed. Yes, it makes not getting up to pee kinda hard. When I need to, I will dump my trades on my laptop and take it with me to the john.
This career is all about finding the right moments in the day. If you trade huge size (for you) this focus is paramount.
If you want to make big money, I believe I need this kind of focus.
It goes without saying, although I will say it, all the drama in the other parts of your life needs to be kosher. The night before have a wonderful night with your girlfriend/wife. Hug your kids, smile at them. Be in the best possible emotional place when you sit down to trade. And really be excited but relaxed about it. Know that when you put yourself in this state, and you learn the right tools, you will earn the money you wish.
Life isn't over when you do earn that money, but some people feel the loss of striving, like I did. That's another topic...but do whatever you can to stay focused on the opportunities the market presents most every day. The more you focus the more you will see.
Then it becomes "easy," and you have to watch out to keep doing the things that got you there. Wipe out complacency and laziness. Know that it will come up just as things feel "easy" or your profits start to get huge.
If all the things in your life are cool and trading lacks focus: take time off, reduce your position size, whatever.
Be sure you really want to and are prepared to trade. The markets reward this kind of preparation and dedication. They really do.
