I take two days off EVERY week, no matter what!
When to take a Vacation (without trading)
- Thread starter SethArb
- Start date
Don't you mean a vacation FROM trading? Increasingly, I entertain the thought that my next one should be permanent.
SethArb...
this is a good discussion topic to start; and this has been one of my primary shortcomings in trading. When I got into this in the early 90s full-time, I did so for the very reason that it would allow for me to be my own boss and leave when I chose; also since the markets closed earlier than many day jobs, felt I'd have LOTS of time for all kinds of things I could not do in my former occupation. Well over the years that has not been the case, and the question you posed has been a struggle for me.
I recall in 1996 going to Paris for holiday and to see the French Open. I kept all sorts of open positions and was making daily calls to my firm and checking in on the market. NOT a good idea for a refreshing vacation.
My view is that you need to get away both after a good period, and equally important after a major hit or weak trading. The weak trading period is a warning that maybe your mind and body needs rejuvenation so to speak; the winning period offers an important message and a warning that 1. we need to reward ourselves and appreciate our "good fortune" and 2. a warning to be aware that many large hits come after a sustained winning period (as we all know) due to among other things, increased confidence and complacency.
Last couple years I kid with people who ask why I don't take more time off, since I'm my own boss.... by saying something like, "I have a tough boss"! It's particularly comical when someone who hates their daily grind, then proceeds to tell me that they have 6 weeks paid vacation that they MUST take, and their biggest issue is when and where.
I'm very interested in how others who have been at this for a while, program themselves to take regular holidays/vacations.
Regards,
icE
Quote from NihabaAshi:
Good trader psychology question
Your probably going to get many different answer or suggestions because we all have unique different personalities.
For me, as a former collegiate athlete...I need some very physical activity when I take my 3 day weekends or vacation getaways to take my mind of the trading game...which in turns helps me re-energize mentally.
I'm the King of 3day weekends and I take them often (1 to 2 times per month).
Just like your trading...you'll need to practice practice practice to find out what works and what doesn't to get your mind off trading regardless if your profitable for the week or not.
Trading is such a mental game...probably and arguably more important than any particular trade setup...a week or two weeks vacation per year in my opinion is not enough and probably not good stress management if its the only thing a trader does all year to get away from trading.
I think what's more important than VACATIONS is learning how to relax, re-engergize after EACH TRADING DAY in preparing to succeed the following day.
What if you have a planned VACATION 3 months from now...but currently your in a big drawdown with tons of stress, anxiety and so on...are you suppose to wait 3 months to get trading off your mind?
That's why I favor being more SPONTANEOUS in vacations or getaways from the trading game than planned getaways.
Besides...the spouse loves getaway surprises
Regardless if I'm profitable or at a loss for the month...I reward myself financially (buying a luxury item) when I do well.
If its a drawdown month or week...I just spend more time trying to rest the mind via exercising, lots of walks, massages, saunas and anything that forces the mind to concentrate on something else like going out to see a movie (by the way...a movie at the theatre is an excellent relaxing tool).
A friend of mine sees a movie every week during the trading week...not on weekends to help him forget about trading.
I'm no psychologists although my spouse has a masters degree in psychology...signs of Burn-out...I would think would be moodiness, drastic change in eating habits, insomnia, headaches, back pain (from tense muscles), not wanting to prepare properly for the next trading day and so on.
I see trading like a sporting event. Throughout the season...I try to better my technique, learn and hope my winners are more than my losers.
Than...as the season progress (happy with winners no matter how small or unimportant)...I want to be peaking going into conference championships.
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Reviewing all trading notes...rehearsing profitable patterns in my mind...vision how I would react if the price goes my way...more importantly, vision how I would react if the price goes against me.
Thus, nothing is new to me when it actually occurs...I just react.
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Concentrating on doing well and placing as high as possible to qualify for some sort'uv national championships.
Then...once at nationals...I try to set some records or beat someone nobody expected me to beat (equivalent to that monster-buck profit trade that comes once or twice a year).
SethArb...as I mentioned before, we are all different in our mind game of trading.
Practice your stress management techniques and have fun doing it...trading too.
Nihaba Ashi
good comments NA... thanks!
Always like reading your thoughts!
regards,
IcE
Quote from lindq:
Unlike poor NihabaAshi and other intraday traders who burn out sitting in front of a CRT every minute of the day, swing traders don't need no stinkin' vacation.
I'm still hanging in there Lindq.
I only have problems with the CRT's when I don't get enough sleep the prior night due to the toddler or the all night construction going on about 50 yards away (new sleep problem) at the street corner.
Maybe its time for an extened weekend Sat, Sun and Monday.
Oops forgot...I may have to go support the daycare workers that may strike on Monday.
NihabaAshi
I always have nightmares about taking vacations after taking a trip to Cabo in April 2000. I'll never forget walking off the plane to make a connecting flight and seeing the market down 500+pts. I felt like I was missing the biggest opportunity of my life and I was headed to a place where I would not see any quotes for another week. For the sake of my girlfriend I did my best to enjoy the break, but I would have much rather been back home in front of my computer.
It happened again last year when I was on a March ski trip in CO at the exact bottom of the market.
I now schedule my vacations around Thanksgiving and Christmas. I take a lot of 3 day weekends to ski in the winter, and afternoons off to golf in the summer.
It happened again last year when I was on a March ski trip in CO at the exact bottom of the market.
I now schedule my vacations around Thanksgiving and Christmas. I take a lot of 3 day weekends to ski in the winter, and afternoons off to golf in the summer.
