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As the title says, the question is: what do you do while you let your profits run? (assuming the position does not require your constant micro-management, but profit taking is fairly automated).
futures.io (formerly BMT)
Movies
Music
Books
Meditation
Gym
Sauna
Swimming pool
Those are some of my activities. I would love to hear yours.
You are never in the wrong place... but sometimes you are in the right place looking at things in the wrong way.
One of my regular thoughts is, "stay in character..", and that means my dishes can wait until the end of the trading day.
1. Build the position..
2. Plan the exit strategy..
3. If bored, paper-trade a different instrument..
It's devastating to get stopped out when you're not paying attention: Did your run end because of a stop-seeking HFT, a minor re-tracement, or was it a lucky warning before a trend reversal?
Sit on my hands. Go for a walk around the block. It's less of a problem for me now as I trade 100% mechanical and so I just have to bide my time. It's still hard though. I pretty much take any open p/l with a grain of salt, as may likely change dramatically before my system closes out the trade.
Watch documentaries or shows, surf the web, play league of legends, work out, eat, depending on the market conditions I'll watch the market and make calculated short term trades for an hour or two. I'm planning on taking some courses at a local college just to get out and meet people. This is probably the best thing to do.
If you're looking to waste time I suggest to play a free game I've been playing for years called League of legends.
I've played over 1000 games of this each lasting 30-60 minutes over the years.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
