Start a Journal to fight the boredom...You would be surprised how it makes you more responsible for your actions...
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How do you wait patiently?
- Thread starter nzbryant
- Start date
I put positions on that generally last anywhere from 2 - 14 weeks. There used to be more stress holding than there is now. I think a lot can be said for just plain sitting through enough of them in order to become more desensitized to the emotional slings and arrows. The more you quietly sit through a trade/series of trades, the less of an issue it becomes.
Peace and gtty,
Lar
Peace and gtty,
Lar
Quote from lar:
I put positions on that generally last anywhere from 2 - 14 weeks. There used to be more stress holding than there is now. I think a lot can be said for just plain sitting through enough of them in order to become more desensitized to the emotional slings and arrows. The more you quietly sit through a trade/series of trades, the less of an issue it becomes.
Peace and gtty,
Lar
A bit like buddhist meditation - you let everything (like impatience) come up and fall away again while watching it in stillness, until things lose their conditioned affect on you.
Does your feeling of impatience result in your doing something that you should do (deviating from plan)?
This guy always places an interesting twist on things ...
http://www.fooledbyrandomness.com/dentist.pdf
http://www.fooledbyrandomness.com/dentist.pdf
Often times we confuse the emotions that we are feeling, or just don't dig deep enough to get to the "real" problem at hand.
Things like patience and boredom are our response's to what ever problem.
Perhaps setting a schedule for yourself, to outline what it is that you're supposed to be doing while a trade is underway will help.
Something that tells you what you're to be doing in the "meantime".
Doing analysts on multiple markets, at specific times during the day, along with checking your position at specific times during the day may give you enough to do in the "meantime" to help train yourself to be "patient".
Things like patience and boredom are our response's to what ever problem.
Perhaps setting a schedule for yourself, to outline what it is that you're supposed to be doing while a trade is underway will help.
Something that tells you what you're to be doing in the "meantime".
Doing analysts on multiple markets, at specific times during the day, along with checking your position at specific times during the day may give you enough to do in the "meantime" to help train yourself to be "patient".
I remember a thread like this years ago here on ET. One of the solutions was to hire a fat woman to sit on your hands.
Quote from nzbryant:
I have trouble waiting for trades to move once I am in them. I trade end of day - as day job - and can't wait 5-10 days for moves to occur. Too impatient.
I guess this applies to daytrading also. How do you all manage your emotions and be patient with WAITING for hours (or days) while trades work?