How to develop decisiveness and quick reaction time?

[learner2007]

I'm no into that ABCD stuff.

That ABCD was used just for the simplicity of explanation and not meant to represent an actual setup.

All I can say is you and I play price TA significantly differently.

Yes it looks that way. So let's end this wishing each other luck in his approach.

 

[wlnd]

Success in day trading is all about precision and timing. However, when I spot multiple opportunities during live trading, sometimes I get the "deer in the headlights" reaction and by the time I snap out of it the stock has already taken off without me in it.
Besides more screen time and practice, I am looking for ways to improve my reaction time and decisiveness so I don't miss opportunities.
Any suggestions or book recommendations are welcome.

Great awareness on your problem! I face this too & I suppose so do many daytraders. some have already mentioned this- a good life is finding a balance- mind-body-soul. sounds cliche but a challenged mind, a fit body & a fulfilled soul thru religion or music will help achieve this balance. I seek to be as composed & unemotional as possible, grading myself on my execution only & not P&L

on training the mind, exercise it with brain training apps. a few good ones out there. I was acutely aware of my lack of focus & rudimentary thought process. for eg. I may be starting off a session looking for a breakout, & totally missed a valid reversal. or I tend to see short reversal setups only, missing alot of long reversals. I improved on this via training my mind with these app exercises. improved my mental flexibility alot!

 

[Hooter]

Hot keys and scaling. Scale into winner, scale out of losers

 

[Sprout]

on training the mind, exercise it with brain training apps. a few good ones out there. I was acutely aware of my lack of focus & rudimentary thought process. for eg. I may be starting off a session looking for a breakout, & totally missed a valid reversal. or I tend to see short reversal setups only, missing alot of long reversals. I improved on this via training my mind with these app exercises. improved my mental flexibility alot!

Which brain-training apps have you experienced good results with? Currently, I've been working with 'Glasses-off' which promises better eyesight (dump the reading glasses) through visual training. It's pretty remarkable, effects can be noticed within one practice session.

 

[Cswim63]

I think you answered your own question. It takes years of practice. Are you in a rush to trade? Afraid of missing a trade? I still see lots of conflict here. Slow it down and enjoy the process. You're too busy focusing on the ball to see the playing field and the rest of the players, thus missing potential information which might be valuable. You seem to want to be a proficient trader Right Now! It's impossible. You are slowing yourself down by wanting to go fast. A simple checklist might help.

 

[Cswim63]

You might also be able to develop a plan B for missed trades.

 

[Cswim63]

I used to do the "pages" that we're mentioned by one trader in his book. Basically you write down whatever comes to mind for a half hour. It did help to clear my mind, but I found it burdensome. Still, I try to write something in a journal every day about what is bothering me, especially. Doesn't have to do with trading.

 

[Cswim63]

It's like, "Coach, I just know I can be a Hall of Fame quarterback. But right now I can't keep from dropping the ball when they hand it to me. What should I do?"

 

[syswizard]

It's like, "Coach, I just know I can be a Hall of Fame quarterback. But right now I can't keep from dropping the ball when they hand it to me. What should I do?"

This is the best post....and the point is: How does one acquire talent ?
Some will "have it"....others won't.

 

[tommcginnis]

This is the best post....and the point is: How does one acquire talent ?
Some will "have it"....others won't.

Still back to
1) Have a plan
+
2) Practice practice practice
=
3) Execute.