What do you guys do when waiting for your trade/charts to provide signal to enter?

Hi everyone,

Just want to to know how everyone keeps their discipline awaiting for a trade to develop?

I mean for example on Asia Mondays, i tend to leave the day out as it can give a wrong trend direction until NY opens. I simply switch off and try not to care. The problem i tend to have is awaiting for trades to develop, i just enter a small trade using a shorter time frame system but when it does not do too well, it can affect my emotional state.

One can say i have itchy fingers, lack of patience and discipline. I would like to know how fellow traders handle this time. Sometimes i can walk away but my mind is stilll too focused on it. I believe its an addiction which is the scary part, as i do not want to be addicted but...........

To some its very easy, ' just don't trade', but maybe its my greed, i find it hard to control.

I would love to hear everyones opinion/advice. Have a great trading week, everyone!

Winlots

For me, 90% of trading is waiting, 9% research (charts, news, enhance/further knowledge, etc..) and 1% trading. It's a game of hunting. Waiting, locating the prey, planning the strike then sniping!

Don't pay attention to those on here that seem to be in on every move. Sure some can do it, but majority cannot.

You are right, many (but not all) breakouts in this session tend to be fake. Acumen has a good analogy that we are fleas, wanting to try and hitch ride on the elephants back (elephants meaning market movers - the big boys - who only enter the picture during London and NY). Try and stand in front of them and you'll only get steam rolled.

I don't really trade breakouts myself, I do all my work in the morning (Aussie time), set my orders and go out for the day - weather permitting of course.

Find a hobby, perhaps?

Mine is fishing

How about trading on demo, so you see results of such decision (if bad - it's just a demo if good consider full time)
If trading with money is a must, maybe AA will suit you..?

My strategy is to 'know' my system is consistent in ID-ing market direction. Then, I merely follow the market - instead of trying to predict it. I don't feel the need to watch the trade to the exit. The only way to 'know' that a system is reliable is to, manually,forward test it under many different market conditions. I like MT4's Step-by-Step feature to to that. When I can advance it quickly, and recognize my indicator signals for entriesexits and stay-out times, immediately, then doubts disappear and confidence builds - I 'know 'I'm ready. It's an excellent way to eliminate doubt and program your mind, positively. And, it's fun!