Waiting for a Good Trade Setup - Without Losing Your Mind

 What do you do when there are no trades to be taken? Or are you one of those people that just go boom, boom, boom and shooting five times per day?

So here's the thing, guys. Real traders, real pro traders.

They don't do that because they got a secret. I call it the waiting game secret. Right. And are you ready to learn what to do when there are no trades to be taken, and you don't go completely crazy and just want to jump in for no reason and then have a loss? So stick around because I've got it for you, and I'm going to make it simple and fun.

Transcript

Hey, it’s Marina, the trader chick, and I got a question for you. What do you do when there are no trades to be taken? Or are you one of those people that just go boom, boom, boom, and shooting five times per day? 

So here’s the thing, guys. Real traders, real pro traders.

They don’t do that because they got a secret. I call it the waiting game secret. Right. And are you ready to learn what to do when there are no trades to be taken, and you don’t go completely crazy and just want to jump in for no reason and then have a loss? So stick around because I’ve got it for you, and I’m going to make it simple and fun.

I way of eating is the hardest part. Here’s the thing, guys, waiting is the hardest part. Why? Because for some crazy reason, especially aspiring traders, people that are just starting to do day trading, they believe that they have to be taking hundreds of trades. That is the whole point.

Day trading is to be in and out of a trade. The reality is the actual opposite is true because if that was the case, we would be taking thousands of trades, and it’s completely unsustainable because one there is about any trades as your commissions alone will eat you alive. So you’re not going to be making any money at all yet. You’ll feel like you’re working right there’s. That difference between working and working smartly.

So there’s also the same thing for trading. But what the trading for the smart trading really is it’s about waiting for those right moments. Okay. The hardest action for traders to take is to do nothing. Yes, it’s true.

That is the hardest thing to do because that’s when you’re sitting around, and you’re twiddling your thumbs, and you think that you have to be getting into the market, correct? Am I not correct? I want to hear from you guys. What do you do when there’s nothing that you could take? What actions are you taking?

That? Because I can guarantee you a lot of you are in and out of trades, and it’s called trigger happiness. And I found this on the web because I think this is so, so true. First of all, what my friends think I do is that I’m gambling, right? What my mom thinks I’m doing.

Oh, my gosh. She thinks I have thousands of changes going on. Don’t even get me started on that one. What the internet thinks I do is a Con artist, right? So true society, you know, screw them.

And what I think I do is constant action, constant action. But the reality of what I really do as a trader, crickets, because a lot of times the market is not going to be doing much. It’s just going to be sitting there. And that’s okay. That is. Okay.

So the real question is, are you a trigger-happy person? Are you one of those people that just go shooting around? So here’s an analogy. I’m personally not.

I don’t condone this. However, you really need to think of yourself as a big game Hunter. Okay. Have you ever thought of a big game Hunter? So let me put you into their world worth for just a minute.

All right. So those people that are going to shoot the big game, whatever the Moose or whatever it is, do you think they’re going to use off their energy and just shoot a little mole, rats, airy dogs, bunnies? No. So I actually have a video about exertion and energy to make sure you check that out, because every time you shoot, you are using energy. And by the time the good trades come around, you don’t even know that those are good trades because you’ve exerted yourself, and you’ve already lost all your money.

Think of the big game Hunter. What are they good at? What are they good at? You think the aim. Yeah, sure.

But if you think about their eight-hour day, they might actually only do, like, I don’t know, 1520 minutes of the actual hunting. Right. What are they good at? The waiting, the waiting for the good setup. That’s what a day trader is.

That is not only a good day trader is the pro trader, it’s the trader that is making money every single day. Consistently, they know what to do. They know that they have to wait for those setups. So the real question is and what I want to teach you guys today is, what do we do during that time when there’s nothing going on? Because we can really go crazy and want to just shoot at everything.

So here’s the reality. Right? A good trader only probably takes one to three trades per day. That’s it. That’s really it.

And to be honest with you, probably one or two. Right. Because there are so many factors involved. Sometimes there won’t be anything for hours. Sometimes it’s just too much energy exerted when you’ve already taken one or two.

So that is the reality. And once you accept that, everything else falls into place. So what do we do when there are no good trades? Right. When you are stuck in this ugly sideways market and I call the sideways market, the trader’s enemy, the trader’s worst enemy.

And I have a video for you guys to watch about how to avoid these areas. Okay. So what do you do when there’s nothing going on? First of all, I put on music. I love to listen to music.

And a lot of times during our day, we don’t have time to simply sit and listen and enjoy the music because we still have to focus in front of the charts. Right. Okay. How about listening to audiobooks again? You’re listening here and the chores are there.

But if there’s a setup coming, guess what. Pause the audiobook, and you’re back in the action, right? That’s something I do all the time. Exercise. I actually went out and bought myself a big ball, one of those bouncy balls that I could sit here, and I could do like core ABS and wait for my hands.

I’m still in front of my charts. Then I could do that right here. Or if I’m sitting on that ball, I can maybe do some sit-up or something. So I am still completely engaged in my charts. But I’m also doing positive for my body.

Right? Because we can get a little sit around right. Run to the bathroom. I’ve been here many times when there are great trades and cannot go to that room. Perfect time.

Go to the bathroom. Why not? Right. Eat and drink. I don’t know about you guys, but there have been times when I forget to eat and drink and guess what.

This is a good time to replenish. We energize me with getting water. We’re getting maybe a fruit, something healthy. Don’t go and grab some crap. You know, get something healthy and that’s gonna actually give you more energy as well.

These things are really important. And to be honest with you, sometimes when the day’s crap, walk away, just walk away, enjoy the rest of the day instead of sitting here and getting frustrated. Walk away. Have a good time because trading isn’t all about you sitting in front of your charts. It’s actually it’s a time for you to walk away.

Okay, so take that moment that time and just enjoy yourself because that’s what trading is about is for us to have fun. And if the market is doing nothing, shut it down. Go for a walk. Go for a run. Go hang out with your spouse.

Go talk to your kid. Walk your dog. Have a good day. So waiting is crucial. And once you know how to do the waiting properly, you will complete up your game.

I want to know, what do you guys do when you’re sitting around waiting? I would like to know in the comments below. What do you do during a time when there’s nothing going on? And I’ve got lots of great videos for you guys. So make sure you subscribe below because I got lots of great videos for you and be notified so that you can get these tips constantly.

Alright. Are you ready to enjoy your trading? Sometimes you got to walk away. I’m Marina the trader chick and I want to hear from you guys.