Most of the retail Traders are mainly day trading. And one of the trickiest part about short-term trading, is the amount of screen time we're putting in VS the amount of action we're taking.
On most days, i spend about 12-15 hours everyday sitting infront of the chart. only 15 - 30 mins of them are spent on clicking the buy & sell buttons. So if you do the math
30mins/ 720mins = 4.2%
Only 4.2% of my time is spent on taking action, the rest of 95.8% are spent on waiting, planning, testing, reviewing, assessing, studying, etc...
So now ask yourself a few questions:
1. How much of a portion of your time is spent on taking action?
2. How often do you over-trade OR revenge-trade?
3. How does impulsive trades affect your consistency?
I believe the best Traders have the highest ability to sit with their hands.
The ability to look at a high volatility market environment and say "no", and yet only focus on your plan should be the end goal of us as a day trader.
There are countless of market opportunities everyday, but how many of them are meant for you?
On most days, i spend about 12-15 hours everyday sitting infront of the chart. only 15 - 30 mins of them are spent on clicking the buy & sell buttons. So if you do the math
30mins/ 720mins = 4.2%
Only 4.2% of my time is spent on taking action, the rest of 95.8% are spent on waiting, planning, testing, reviewing, assessing, studying, etc...
So now ask yourself a few questions:
1. How much of a portion of your time is spent on taking action?
2. How often do you over-trade OR revenge-trade?
3. How does impulsive trades affect your consistency?
I believe the best Traders have the highest ability to sit with their hands.
The ability to look at a high volatility market environment and say "no", and yet only focus on your plan should be the end goal of us as a day trader.
There are countless of market opportunities everyday, but how many of them are meant for you?
