I hate the idea of multi tasking.  I do not think people are wired to do more than one or two jobs at a time, for example the driver that is trying to text on his cell phone at 85 mph is bound to get into an accident at some point.

When it comes to trading, it is very important to have a laser like focus on what you are doing and that includes understanding how many stocks you feel comfortable trading at any one time.  Most of my time I trade one stock at a time, but sometimes I find myself in two or three positions at once so I have learned to manage my share size when this occurs and to keep an extra level of focus.

Now that I am doing daily teaching webinars, there is a new level of distraction which took me a while to become skilled at trading and teaching but again, I have learned what the problems are and have overcome them.  Do you work from home?  If so, that probably adds many layers of distractions to your day, so close the door to your home office and concentrate.

I think a good rule of thumb is if you have a position on, you are doing nothing else except evaluating your factors through out the trade.  When there is no position on, you can let your guard down and take care of other things in your life.

Technology is wonderful, but it certainly adds to our stress levels as text's, emails and IM's fire at us all day long.  Remember that texting with your buddy will not add money to your account, so stay focused during the day, there is a lot of time pre- or post-market to handle the more social matters in your life.

If you analyze the mistakes that you make, you might start to realize that they come from a lack of focus, do not be that person bounding down the road with one eye on his blackberry and one eye on the road and disaster looming. 

• Add New
• Search

Comments (1)

• |2009-11-10 20:55:59 Anonymous  - Sometimes Focus has nothing to do with it
  Sometimes there is just someone or something on the other side of every one of
  your trades watching you and sabotaging everything you do.
  • 0
  • 0

  Reply

Write comment

Your Contact Details:

Name:

Email: do not notifynotify

Website:

Comment:

Title:

Message:

Security

Please input the anti-spam code that you can read in the image.

Powered by !JoomlaComment 4.0 beta1

!joomlacomment 4.0 Copyright (C) 2009 Compojoom.com . All rights reserved."