If you’re having to stare at your screen I would assume it’s because you’re not comfy with your trading system. If that’s the case you need to revisit your system and tweak and back test it until it works how you like. In theory you should be able to enter your trade, set a stop loss and take profit and then walk away and let the trade to happen as planned.
Switch to D1 time-frame - then you’ll be physically unable to watch your positions. You have to sleep some time.
I can give you two pieces of advice.
The first one is to change your timeframe, which is a temporary one.
The second one is to work on your trading system!
I think if your trading system is good enough, you will not experience these kinds of emotions, and you can easily just place your trade and trust your SL and TP!
Trade more, have more trades open, and make a giant bowl of popcorn…it’s the best movie ever!
Yes, read this excellent book instead of watching your trading screen.
The Psychology of Trading: How to Create & Maintain Your Winning Edge
How is this difficult for you? or i guess you setting a tight stops.
Inasmuch you traded your plan, then letting go shouldn’t be a thing. Except you don’t have a trading system
Thanks for the book recommendation, always interesting to read something new
I’m not setting any tight stops (ATR based) and I do have a trading system that works consistently. Still I like to follow all trades and watch them.
Ofcourse, this is when I have time to do. I work full time so to be the whole day glued to the screen is no option.
How often you check your trades?
Thanks for your reply.
I’m mostly trading at daily levels, but entries on 4 and 1HR timeframes. Higher than this is too slow for me personally and it works well so far in terms of results. Perhaps I need the proof that my strategy is consistent over a larger amount of trades indeed. For now it has been consistently generating profits for about 3 months.
How long or how many trades it took you to release the screen and trust the system?
Not to many of us it happened to all of us. don’t consider yourself alone!
Work on your system and well, trust yourself and your system.
If you trust yourself enough and know that your SL and TPs are set well, you do not need to check the screen every moment! How can one trust himself in a field? By being sure about his skills
You can turn off your pc. It’s that simple you just need discipline😂
Think about the outcome of your screen-monitoring. Will the outcome of your trades change by staring at your display. I intentionally missed the questionmark at the end of the question since the answer should be clear yet. You really have to learn to “set and forget”. Entering a trade and leaving your screens and “forget” thr trade is even easier for you, I guess if you set proper SL & TP.
Which timeframe are you using for entering your trades? Maybe an higher timeframe like H4 or D1 could help you to check your trade only a few times a day.
I hope you’ll find a way and happy trading. Don’t hesitate to ask for further details. Happy trading
obviously itd be an excellent solution jus sleep and nothin else matters
Oh, I totally get you! It’s like a rollercoaster, right? I’m also trying to get better at not checking my trades every hot second. Like you said, we gotta find a way to ‘set it and forget it,’ or at least not obsess over every little tick. One thing that’s helped me is to create a kind of routine around checking my trades. Like, instead of having the MT4 or MT5 open all day, I schedule specific times to check in, say, every few hours. And between those times, I try to keep myself busy with other stuff - hitting the gym, catching up on my favorite shows, grabbing coffee with friends… you know, the usual. Another thing is meditation. I know it sounds a bit cliché, but it’s helped me to chill out and not get too caught up in the minute-by-minute action. It’s all about finding ways to keep your cool. Remember, we’re in this for the long haul. It’s not about winning every single trade, but being consistent and disciplined over time. Keep the faith!
@this_is_ando Thanks for replying. The problem is that I have a fulltime office job which allows me to have the tradingview tab open at all times I think if I would trade for a living I would simply go for a run or workout, but this isint the case (yet I hope).
I’m trading mostly daily levels and enter on 4HR and 1HR timeframes. SL & TP are generally well set imo.
@Emi.s Thanks for your reply as well! It is, absolutely, but a nice ride too , as mentioned just above, walking away from my screen is difficult as my job allows/obliges me to be in front of the screen. Are you trading for a living?
My two cents. If I’m tempted to control my trades too often, I find it useful to remember what my mentor once said: “I made my best profits ever when I placed the trade then I stopped following it”. He’s been a trader for 25 years or more. So, I use his words as my inspiration - I think “I do what my mentor does, he knows better, I trust him”. It works.
Maybe it’s a natural progression thing. When you’re still learning, you want to watch every price move. Then you get more comfortable with your trades and find the need to check less often.
Absolutely, it does seem like a part of the learning curve. As we gain experience and trust in our trading system, we may naturally detach ourselves from constantly monitoring every movement. This will not only reduce stress but also enhance our overall trading experience. It’s worth remembering that patience is a virtue in trading. Let’s continue sharing and learning together in this journey. Happy trading!
Meditation has helped me stay calm and relaxed as well. You must teach yourself to have patience and be disciplined and follow a trading plan which is what will make you succeed over time
No, I’m not trading for a living. I trade a few hours a day, but I also juggle other responsibilities and interests. Trading is more of a passion than a full-time gig for me. And just because we CAN do something, doesn’t necessarily mean we SHOULD, right? It’s all about finding balance.
Yes. Switching to the Daily chart certainly helped me. And improved my trading.