Have you ever Traded because you were bored?

[Trade Up 10]

Have you ever jumped into a trade out of boredom?

 

When markets are quiet, or there is nothing on my radar, I have found myself trading stocks I would not normally have touched. Has anybody else ever found themselves in this situation? Spotting a trend which is not quite there?

 

Is it just me, or do traders have a very low boredom threshold?

[Soultrader 12]

haha nice follow up Trade Up.

 

My answer is YES!

 

I did find one way to avoid boredom though. I started playing online poker on my extra monitor. This keeps me occupied.

[carter 10]

I am sure all traders can admit to committing this mistake. Boredom can be an enemy to trading. I don't recommend sitting in front of your screens all day. I try to avoid this by trading in the morning and afternoon session only. I usually hit the gym during lunch hours.

[budman 10]

Same here Carter. I run, work out, mow the lawn during lunch etc.

Unless I see a real good set up forming, I'm away from 11:30-2:00.

Good for the eyes, the nerves etc.

[Trade Up 10]

Boredom is a massive problem for traders as, if you are like me, you mind is buzzing all of the time with ideas.

 

I think this is why a lot of traders play poker, for the thrill, if trading is a little quiet?

 

What other things do you do to avoid trading out of boredom?

[Follow The Trend 10]

It is the same for most traders - bored, looking for something which is not there, and then regret.

 

I have done this on a number of occassions, but now I try to make use of "slack periods" and maybe catch up on my research, spend some time with the kids, etc.

 

The majority of traders have very active minds which are analysing situations all of the time, and if you are like me, you hate being bored!!!

[chaostrader 11]

It is the same for most traders - bored, looking for something which is not there, and then regret.

 

I have done this on a number of occassions, but now I try to make use of "slack periods" and maybe catch up on my research, spend some time with the kids, etc.

 

The majority of traders have very active minds which are analysing situations all of the time, and if you are like me, you hate being bored!!!

 

I agree... traders like the action. I personally have a hard time dealing with boredom. I need to keep my mind stimulated constantly.

 

Its good to get other things done during lunch hours to fresh up your mind.

[tab321 10]

Most everyone is guilty is guilty of this

[Lisa 10]

Arent we all guily of this? I know I am.

[Follow The Trend 10]

While the general feeling seems to be that all traders have, or do, trade because of boredom - How can we reduce or stop this?

 

Do you have technique to stop yourself trading?

 

Can you just walk away?

 

Can you switch off?

 

I must admit that I find it difficult to switch off, even when I am not at my computer. Boredom is my worst enemy.

[Kiwi 16]

Boredom is my worst enemy too; well, one of them.

 

I've found that posting on bulletin boards doesnt help because the boredom causing me to post seems to precede the market finally setting up properly.

 

What sort of activities do people do that let them maintain enough activity to prevent boredom and inactivity trades yet don't involve them so much that they miss the next trade?

[Soultrader 12]

Boredom is my worst enemy too; well, one of them.

 

I've found that posting on bulletin boards doesnt help because the boredom causing me to post seems to precede the market finally setting up properly.

 

What sort of activities do people do that let them maintain enough activity to prevent boredom and inactivity trades yet don't involve them so much that they miss the next trade?

 

 

This is going to sound insane but... I trade from 10:30pm Tokyo time. I used to play online poker when I was bored but then started missing too many nice setups over a couple of good tournaments.

 

Lately, I have been working on other projects during the day so I tend to sleep after I trade the morning session. Since the opening 90minute is my strength, I do pretty well without even bothering to trade the afternoon.

 

Here's a couple of other suggestions: go to the gym, start an online business (this keeps you occupied and even if it flops you are probably going to save more money than the money wasted on trades taken through boredom), go out druing the doldrums, poker, etc...

 

Unfortunately in my case, there is not much I can do at night. You have alot more options so Im sure you will find something that can keep you busy.

[protrader 10]

Yes regrettably.

[stephens 10]

I have a similar problem myself. As day traders what is the ideal number of trades one should place a day?

[protrader 10]

What ever you are comfortable with, no set numbers, I just play it as it comes, could be 0-100,000's.

Also depends on your system and style.

[torero 10]

Usually spend alot of time during market hours just drawing trendlines as the market is constantly changing so are the trendlines and S/R levels that need to be redrawn. Doing this keeps me from getting bored but keeping out of trouble. I post in forum and chat once in a while. Good thing is MP and pivots are already in place during market hours.

[wsam29 10]

Here are my thoughts regarding boredom and trading.

 

If you have a method that you know is successful and you are a profitable trader, there is no reason to trade because you are bored. When you trade because you are bored, you either do not have a method that is successful and therefore you trade for the desire of being right.

 

This is no different than playing a pot in poker with a junk hand but you over bet the pot and have gotten yourself too invested in the pot and cannot walk away from, outcome, you end up losing money. Losing money does not bother you, its the fact you made a dumb play to begin with whether that be in poker or trading.

 

I don't know about everyone else but I hate sitting in front of this computer for more than 4 hours a day when the market is open.

[wsam29 10]

and yes, I used to trade when I was bored.

[drk1t 10]

Bored? There's always porn until the markets start moving again.

[hanz 10]

Bored? There's always porn until the markets start moving again.

 

hahaha...

 

when ur hooked with porn,u'll gone miss a setup :p

 

i ever had a position which i used a mental stoploss...at that moment the market is flat and boring...hence i forgot to place stoploss and proceed playing games...

 

when i come back i see -197 pips

 

(faint)

[Happyguy 10]

Yes, I believe that most traders have done that. Thats why to be a successful trader requires one to be very discipline by strictly following our rules and not to trade when there is no set up. It is not easy to overcome the urge to trade when bored but it can and must be done !