Trading is not a game, not a hobby, not “something to do”. The only reason to trade is to make money. And that doesn’t mean trading every moment of every day.
Unless you are a professional trader there is absolutely no reason to trade every day. The purpose of trading, after all, is a very simple one as I said: Make money. Not entertain yourself, not trade because you think you should trade. Have a damn good reason for every trade you make, be it entry or exit.
Let’s say you’ve allocated two hours to trade and nothing is happening, or as is often so, when not a great deal seems to be going on. You might think “I have to put this time to good use so I might as well trade” Wrong! That’s a great way to lose money. I cannot emphasize this enough: every trade, be it entry or exit, must have a purpose. Not just for the sake of trading. There is an old market adage, “Never short a dull market”. If you want to sell wait for good volume and a strong up move. If you want to buy, wait for good volume and a strong down move. I know this is counter intuitive but my many years in the business have taught me to sell strength and buy weakness. Doing the opposite is what costs amateurs money.
Hey, here in the Netherlands anyway, it’s a beautiful late spring day. You’re not here for the market, the market is here for you. So, unless have you have a strong conviction one way or the other, nothing and no one is making you trade (sounds heretical coming from a professional options trader and educator, but there you go…)
So, what the hell! It’s gorgeous outside. Turn off the stupid computer and have some fun! A fine spring to all!