Many traders feel excited when they come to the markets. However, continuously moving candles, big profits often creates thrilling perception of the markets. Meanwhile every trader feels the same way as they are initiating their trading career in the markets. Every pro trader thrives from this process. Professional trading may feel boring and repetitive. On the other hand, excite feels great over a short period of time. If a trading srats feeling boring then it’s a sign of the disciplining trading.
Developing a deep understanding about why boring traders performs better may help you identify the flaws which damages the long term trading performance.
What Makes Trading Feel Boring?
When every daily repetitive routine feels boring, then how can the trading stay separated. Repeating the same process on every day, waiting patiently for the setup, same lot sizing execution etc. Following the same process feels boring because either profits aren’t increasing or position sizing isn’t increasing. They don’t feel the growth by doing this. And when they don’t feel growth, they find it boring and what not. Because in trading growth is measured by the following the same discipline and same trading rules everyday.
The Absence of Drama
Same Process: Repeating the same process everyday this is what brings the trading success. Ignoring the outside and inside noises and sticking to the strict discipline and trading rules system.
The Art Of Waiting: Rather than marking 100 invalid setup, you mark the one valid setup in a day or in the session. And wait patiently for the market to test that level. If the market didn’t tap the level, you spent entire the day waiting for that level to be tapped by the market.
Absence Of Emotions: Rather than trading according to the mood swings where every candle forces you to trade. And every loss forces you to engage with the revenge trading. Boring trading eliminates the emotions and stick to the disciplined approach.
Boring Traders Focus on Process
In trading the another name of excitement is risk, emotions, impulsive trades, forced trades etc. Boring traders solely focuses on treating the trading in the structured way rather than the path of the thrillers and excitement. They purely focuses on the fearless execution of the trade, while considering all the trading rules and ignore the emotional drama. When there is absence of the emotions that executions automatically goes good.
Why Method Based Approach Wins
Eradicate Emotions: When everything is pre defined from entry to exit of the trade. You let your rules drives your decision instead of the emotions. By adopting this approach, there is no room left for the emotions. Because you know while approaching the emotional way you may face significance damage to the trading account and performance.
Calculations Over Mood: Trading is not a game of certainty; it is a game of probabilities. Some day’s you win, some day’s you may lose. But focus on the calculations that one losing trade should not erase the whole profit of one winning trade. And the risk to reward ratio should be big enough to cover the losses of 3-4 last losing trade.
Long Run Game: Trying to be the millionaire in the overnight may let face losses or even blow up the whole capital. Boring trading will keep you alive in long run of the trading, by preserving the capital and developing the patience.
Why Boredom Often Indicates Discipline
The boredom represents the discipline because you are no longer interested in chasing the thrills, excitement etc. Because you know the outcomes engaging with these type approaches. Now you patiently wait for setup to established by price rather than seeing the invalid setup. Now you let market to meet the entry criteria before the execution of the trade.
Why Boredom is a Sign of Discipline
Separation Of Work & Environment: Professional Traders treat trading as a profession rather than a way to become the overnight billionaire. When you start focusing on the process, it means you have moved on from emotional decision making. And this is the time when the trading becomes monotonous for you.
Ignorance Of The Action Bias: There are the times in the markets when the market moves sideways or becomes choppy. Amid this timeline the novice traders engages with the forced trade and all. However during this time the pro or disciplined trader would avoid trading until the market clears the any direction. Or they will wait for their setup to be tapped by the market.
Control On Overtrading: Boredom works as the silent killer that forces weak traders to do overtrading or take forced trades. Meanwhile sitting bored is the validation that you let your rules driven the decision rather than emotions.
The Desire for Excitement Creates Problems
One of the major reason of the of poor trading performance is excitement. When the any trader tries to chase the excitement they often end up doing impulsive trading, loss recovery trading, eventually ends up wiping out the whole capital.
Forced Entries: When a trader seeks thrills and excitement, they often end up finding themselves in the emotional decisions. Because these thrills and any excitement is the part of the emotions. When the emotions take over trading decisions. It makes the trading performance worse.
Unnecessary Trade: When there is any news event happening in the markets, the market becomes very volatile and give sudden spikes and movements. This develop the fomo in the every trader which forced to take irrelevant trade and riks. As a result it gives a big dent on the trading capital.
Overconfidence Following a Winning Streak: A couple of winning often develop the overconfidence in the traders. Which results to increase the risk and the position sizing in the next trade. Sometime this encourages the trader to risk whole capital after the one trade.
Practical Ways to Embrace Boring Trading
Every professional trader embrace the boredom. Because they know boredom is a sign of staying disciplined and avoiding the chaos. Meanwhile to embrace this terms, traders need to follow he proper method of trading rules. Which tell you when to avoid the trade and when to make an entry in trade.
Methods To Master The Boredom
Trade The Plan: Fix the trading hours like the every job and businesses has. Apart from this timings don’t look at the charts. Use the fixed position sizing and the limited leverage which let open the lots which fits the trading account. Strictly adhere to the trading and always check the checklist of rules before executing the any trade.
Avoiding The Invalid Setup: When the trades flats and becomes choppy, the market often shows the invalid setup just to provoke the weak traders. Meanwhile experienced trader know that avoiding the trade amid this time is the best decision. Because not taking a bad is also a sign of taking the good decision.
Audit and Log Your Decisions: Review and analyse the decision when the markets conditions isn’t favorable for the trading conditions. Review that whether your losses or he trades driven by the boredom or driven by the trading rules.
Ending Context
Many traders feel excited while being in the trade. Meanwhile successful rarely feels the thrills and all.
Following and doing the same thing on the daily basis may feel boring sometimes. But it will take you to the path of the success.
In trading excitement leads to losses and boring consistency shows you the path of the success.