How do you limit the distractions around you when trading? I’m usually at home when trading and there’s always something that needs my attention and I frequently get distracted. How do you concentrate when there’s so much distractions around you?
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Have a dedicated trading space or room so that you can separate your trading time from everything else.
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I’ll have to think of a way to do this. I have a small place and I stay in the common area of the house.
See trading as your work and that mean you need go to the office and lock the door and focus on todays job
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Well you could set a time and go out to the nearest coffee shop and take your laptop with you.
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distraction is everywhere in trading as well real life , need a mental exercise first of all . i always try to be meditate minimum 3 times in a day.
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I have a dedicated office room in our home that nobody else wants to come into (unless they are bringing me a new cup of tea). There is an in door and an out door. I can close either or both depending on the source of household noise. We took that decision to build a home office 18 years ago. Love it.
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Think, what’s your goal with trading? To have a good time and some fun? Or you want to become a professional? This is it. When you are in those moments think about your goal with trading. It will make you see that you need to focus, study and concentrate to get where you want to be in your trading journey.
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Great mental activity right there. You have to be in the right mindset. Be willing to say no to those distractions.
That’s it, we all deal with distractions but the difference is: Do you let distractions control you or you can control yourself/your mind, right? Everything in life is about this. Are you strong enough to put your goals/priorities in front of the distractions/procrastination.
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Then you need think what’s causing you get distractions? Is it your family? Or you watching Netflix? If it’s your family, then tell them to give you a certain window period to trade. If it’s the latter one, then learn to control your attitude.
Even when I do this sometimes it’s just impossible not to attend to my kids for example.
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I could try this. Thanks.
What kind of meditation do you do?
Sweet. I wish I had a bigger place to have something like this. Hopefully in the future I can build a small office not just for myself but for anyone in the family who needs it.
In theory this would be all I need to focus. It’s just that when at home I get distracted easily by things that need to get done.
Hi, good luck with the future plans. It always seems these things are out of reach, but if you borrow money for the right reasons that is what Robert Kiyosaki says is “good debt” as opposed to “bad debt” where you borrow money to go on holiday, in his book Rich Dad, Poor Dad. For us, at the time, it was a no brainer. The “extension” to the house cost £120K. We could have rented an office 1km away for a total rent, rates and service charge of about £12K per year. We went to the bank with a proposal to borrow £120K and add it to the mortgage. They agreed. That was 17 years ago. Builders recently estimated the value of the extension at about £200K at current rates. It is just like a good Forex trade, except it takes 20 years instead of 20 days 
I get it. I really do, I get trapped on that too, we all do sometimes.
Something that truly helps me is having a nice notebook where every morning I write my todo list. This allows me to focus on everything I have to do for the day and make space for all tasks.
If you think, we all have other things to do, other than trading. The difference is how each one of us plan the day so that we have time to do it. Usually, in the morning I dedicate some time, around 1h (sometimes less) to look at the markets and have an idea of what way i will go. Then, during the day, I will keep checking how the graphs are looking, if something interests me, I’m in. Attention, I don’t trade professionally.
Amazing, the secret of real state/mortgage explained in such a simple/short way!