Losing motivation - the daily grind
- Thread starter dumbgai
- Start date
Or, alternatively:
Shag lots of female humans.
Shag lots of female humans.
<i>"Been trading seriously over a year and a half now, have made it a full time job. It just isn't fun as it used to be. I don't even get excited watching the markets open"</i>
Most of us begin trading with an end goal of time & lifestyle freedom in mind. I don't think anyone lists "screen slave" at the top of their wish list when entering this profession.
In order to find the success we seek, most traders become mental slaves to all what involves the market. Thru that time, some traders reach their level of success in skill-set.
It sounds like you made it to success, if indeed this is your full-time job. Now add size to your trades and make it a part-time job. When you hit a minimum daily profit goal and feel like taking off, walk away. Do something enjoyable, something without money involved.
Blasphemy? Traders must trade every minute of every day? Traders who don't capture every tick of opportunity are lesser?
I met an ES trader a few years ago who only places a few trades each morning and quits. He trades 100 - 200 contracts at a clip, looking for between +1pt ~ +2pts gross profit and quits. Some days he trades longer to hit his goal, some days he quits with small net loss, some days his trade runs +4pts or better on a trailed stop for added bonus.
Then he gets up, shuts down the screens and enjoys the rest of his day in freedom.
Once you become a successful trader, what is wrong with that lifestyle?
Most of us begin trading with an end goal of time & lifestyle freedom in mind. I don't think anyone lists "screen slave" at the top of their wish list when entering this profession.
In order to find the success we seek, most traders become mental slaves to all what involves the market. Thru that time, some traders reach their level of success in skill-set.
It sounds like you made it to success, if indeed this is your full-time job. Now add size to your trades and make it a part-time job. When you hit a minimum daily profit goal and feel like taking off, walk away. Do something enjoyable, something without money involved.
Blasphemy? Traders must trade every minute of every day? Traders who don't capture every tick of opportunity are lesser?
I met an ES trader a few years ago who only places a few trades each morning and quits. He trades 100 - 200 contracts at a clip, looking for between +1pt ~ +2pts gross profit and quits. Some days he trades longer to hit his goal, some days he quits with small net loss, some days his trade runs +4pts or better on a trailed stop for added bonus.
Then he gets up, shuts down the screens and enjoys the rest of his day in freedom.
Once you become a successful trader, what is wrong with that lifestyle?
Find the area of the markets that interests you the most - is it daytrading, macro big-picture trading, deep value investing, growth stock picking, Zanger style momentum stock speculation, long/short equity, or something else? Then work on that. In addition, set some more meaningful goals - don't just drift along earning a living, staying in your comfort zone. Why not draw up a plan for how to get to $10 mill+ within the next 10 years, set something that is going to force yourself to really go for it. Otherwise you'll drift into inertia and then realise you pissed half your life away on an unplanned pipe dream.
Staying focused and motivated is about 2 things mainly: one, doing something you are passionate about (so if daytrading bores you, move to another sector of trading e.g. medium or longer-term); second, set lofty goals and put in serious consistent effort over time to achieving them.
Staying focused and motivated is about 2 things mainly: one, doing something you are passionate about (so if daytrading bores you, move to another sector of trading e.g. medium or longer-term); second, set lofty goals and put in serious consistent effort over time to achieving them.
Try working with some others in an office, or going on lots of vacations. A few years ago, I took off for Brazil for 6 months. Worked wonders.
I also often quit really early in the day since I make most of my cash in the first 2 hours. I don't worry about missed moves as the market will be there tomorrow.
I agree with the sports comment made in an earlier post. It really helps having a social type sport that takes hours at a time. Mine are mainly windsurfing and skiing. Being on the west coast means I need lots of time fillers.
I also often quit really early in the day since I make most of my cash in the first 2 hours. I don't worry about missed moves as the market will be there tomorrow.
I agree with the sports comment made in an earlier post. It really helps having a social type sport that takes hours at a time. Mine are mainly windsurfing and skiing. Being on the west coast means I need lots of time fillers.
All great points, I've taken up golfing (22 handicap) big improvement from the 120 I was shooting, and start working towards my masters....find it does wonders to keep the mind active but on something other then trading. And vacations are also a great way to bring excitement back to trading, I have read a few articles about prop traders who take a vacation every few months to get refreshed.
Often times, people expect one thing in their lives to satisfy every need and want. For ambitious and goal oriented people - they expect their career to satisfy EVERY need they possibly have. That unfortunately is never the case, no ONE person, or ONE job, or ONE thing in life can satisfy every part of who you are. When a person expects this and then is faced with the reality that IT (trading on one's own in this case) didn't provide eternal happiness, but instead that balance and diversity are key to being happy, it is quite difficult for many to adjust to and accept.
With that said, I think its important to take a step back and look at your entire life, not just TRADING. When our lives become one-dimensional, as is often the case with traders, we tend to project all our unhappiness and discontent onto that one thing (since it's really the only thing in our lives). It is critical however, not to give up on or walk away from something that you do enjoy, but that doesn't satisfy ALL of your needs. You may be giving up on something that you truly like, and is very good for you...
Let's assume you do enjoy trading... but that it doesn't satisfy EVERY need.
What needs does trading satisfy, what needs does it not satisfy? Personally speaking - What makes you happy? What makes you unhappy? Does trading satisfy some of these needs? Does trading satisfy any of your needs?
Finally - Consider other ways to get ALL of your needs met; those needs that aren't fulfilled by trading can be fulfilled countless other ways - aside from getting a 9-5.
If you're lonely - then are there ways to stimulate your social life without getting another job? Join a club, volunteer, match.com, bars, art classes, go back to school part-time, church... etc. etc.
Ultimately finding pleasure and happiness in other aspects of your life will help to re-energize you, help you to rediscover what you do enjoy about trading, and help you tolerate those small things about trading that do get old... i.e. the grind.
If on the other hand, there is nothing but trading that you enjoy, you just wanted to to make $1M - than find somehting else.
With that said, I think its important to take a step back and look at your entire life, not just TRADING. When our lives become one-dimensional, as is often the case with traders, we tend to project all our unhappiness and discontent onto that one thing (since it's really the only thing in our lives). It is critical however, not to give up on or walk away from something that you do enjoy, but that doesn't satisfy ALL of your needs. You may be giving up on something that you truly like, and is very good for you...
Let's assume you do enjoy trading... but that it doesn't satisfy EVERY need.
What needs does trading satisfy, what needs does it not satisfy? Personally speaking - What makes you happy? What makes you unhappy? Does trading satisfy some of these needs? Does trading satisfy any of your needs?
Finally - Consider other ways to get ALL of your needs met; those needs that aren't fulfilled by trading can be fulfilled countless other ways - aside from getting a 9-5.
If you're lonely - then are there ways to stimulate your social life without getting another job? Join a club, volunteer, match.com, bars, art classes, go back to school part-time, church... etc. etc.
Ultimately finding pleasure and happiness in other aspects of your life will help to re-energize you, help you to rediscover what you do enjoy about trading, and help you tolerate those small things about trading that do get old... i.e. the grind.
If on the other hand, there is nothing but trading that you enjoy, you just wanted to to make $1M - than find somehting else.
He can't be, his IQ was 142, on the other hand, maybe he has overdosed on the fish oil thing