Keep missing set-ups...

[shadowninja]

Seems to me your attention is going where it wants to go.

Maybe you don't really want to trade?

I think the problem is that the set-ups only occur once or twice a day, so it's quite boring just sitting without anything to do and so my attention does go where it wants and that is to forums. I have purposely not logged into MSN today and I still missed a nice entry.

 

[MrGecko]

Why do you say this?

Well, I was being a little hasty of course. It's just that trading as something to do inbetween trades doesn't seem like a sensible option to me. Boredom trading rarely pulls its weight in the PnL stakes...

 

[shadowninja]

Well, I was being a little hasty of course. It's just that trading as something to do inbetween trades doesn't seem like a sensible option to me. Boredom trading rarely pulls its weight in the PnL stakes...

Ah, no, it wouldn't be trading because I'm bored or feel like I'm missing out. I used to do that, of course. It's just that there would be more "signals" per day... in theory.

 

[MrGecko]

Ah, no, it wouldn't be trading because I'm bored or feel like I'm missing out. I used to do that, of course. It's just that there would be more "signals" per day... in theory.

Aah ok.

Well, to be honest, I think the only lasting solution is to up your timeframes (I say this without the foggiest about your style or strategy of course).

 

[shadowninja]

The only problem is that there'd be even less set ups. *goes off to check* Yep, in the last month, 7 set-ups that I'd likely have taken, inc 3 fails.

Where's that Ritalin?

 

[donaldduke]

I might start trading other pairs so something is always happening?

I think this is good idea (as long as you take the same setups)... nothing special about the EUR/USD, except maybe the tightest spread.

 

[shadowninja]

Yeah, if I wanted to just jump on random moves and chase the market, I could just as easily do that with EUR/USD.

 

[new_trader]

I think this is good idea (as long as you take the same setups)... nothing special about the EUR/USD, except maybe the tightest spread.

You do? I think the best suggestion has been to log off MSN and forums and focus your attention on the job or you won't have one at all. Get real!

 

[Vaco]

I think that watching the screen for 8 hours waiting for 2-3 setups is enough to drive anyone astray (not exactly 'active' trading) maybe you should add or work on adding other stratagies on the same timeframe to keep your brain occupied and bring more opportunities.

 

[Blue Ruin]

Where's that Ritalin?

Provigil might be the way forward.

A Reporter at Large: Brain Gain: Reporting & Essays: The New Yorker

Long article but very interesting.

 

[shadowninja]

I think that watching the screen for 8 hours waiting for 2-3 setups is enough to drive anyone astray (not exactly 'active' trading) maybe you should add or work on adding other stratagies on the same timeframe to keep your brain occupied and bring more opportunities.

I think this may be a good solution; it's kinda why I was considering expanding the number of pairs I monitor.

 

[shadowninja]

Provigil might be the way forward.

A Reporter at Large: Brain Gain: Reporting & Essays: The New Yorker

Long article but very interesting.

Thanks for the link. TBH I am not interested in taking any chemicals even if it increases my profit. Similarly, I don't engage in bum sex in order to earn money. Life is about choices.

 

[Black Swan]

I'm fond of using my own phrase; "silence is a very under rated concept" and TBH were trading is concerned it's a must. Cut out the 'noise', in all its guises/disguises.

 

[Black Swan]

Think of all the opportunities you could miss if you really put your mind to it. My god man - you'd be suicidal by teatime.

 

[megamuel]

Thanks for the link. TBH I am not interested in taking any chemicals even if it increases my profit. Similarly, I don't engage in bum sex in order to earn money. Life is about choices.

What is the going rate for bum sex? Arabian?

 

[megamuel]

Seriously though, 2-3 set ups a day on 5 min charts? No wonder you get bored waiting for them! You must be able to (or get someone else to....) code something to recognise these set ups and produce an alarm each time they occur. What sort of set up is it? Indicators? Candlestick formations? Trendlines? Etc.. Can you see the set up developing over time or does it just arrive for 1 5 min bar or what?

 

[Rossini]

Maybe this has already been asked, but are you using multiple monitors? I have 6 monitors, 5 are used for charts, one is used for the platform when i'm in a trade, and when i'm not its used for surfing the web. I can still keep a close eye one 5 pairs for potential setups. Best £3k I ever spent.

 

[foredog]

Maybe this has already been asked, but are you using multiple monitors? I have 6 monitors, 5 are used for charts, one is used for the platform when i'm in a trade, and when i'm not its used for surfing the web. I can still keep a close eye one 5 pairs for potential setups. Best £3k I ever spent.

You paid up a bit for those monitors!!!

 

[Rossini]

Lol, that was for the PC, stands, and monitors.

 

[shadowninja]

Was covered on the first page I think. I have two. I don't need more.