Day in the Life of a Day Trader

I have recently learnt and subsequently started using a new system in which I scalp on the 15 minute timeframe. What I have found, however, is that inbetween signals, I tend to get bored and impatient, which can lead to me making bad decisions such as entering into trades which do not abide by my entry rules.
If you are also a daytrader, please tell me what other things you do in your trading day, besides entering trades, which keep you busy whilst you wait for a legitimate entry signal.

read trading forums.
have a demo account handy and if you just need to push a button, use the demo.
improve the layout of your trading journal.
practice drawing trendlines
set price alerts and don’t watch the screen.

Get a book on Trading Psychology - Use the time to read on how you should use the time. Get it?:sunglasses:

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Yeah sounds like a good start. Thanks! Luckily I’ve only been trading demo accounts, I know I’m not psychologically ready for the real thing yet

Good one :joy: Will do

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I don’t day-trade, its too difficult.

Today was not a busy day, I checked the markets before (first) breakfast but there was nothing I needed to do. Watched TV for UK and world news. Posted a lot of posts on trading forums. Looked at charts to see if there was anything I had missed, any patterns I needed to be aware of coming up. Watched some Youtube.

Early lunch then watched some recorded TV. Then out for couple of hours cycling my new bike by the sea. Home for a shower, cup of tea. Meant to read some articles in The Economist but didn’t seem to find the time today…

Wow that actually sounds like a really pleasant day :grin: How long do you generally hold your trades for then?

If one of my trades is going to go bad that normally occurs within 2-3 days. If its a winner, I’m finding they’re running out of steam after about 8-10 days. However, I’m now trying an approach with a very very wide stop as most of the trades I take turn into winners not long after I get out so I’m hoping to be able to ride the trend pull-backs and have space to pyramid the winners. We shall see…