How to stay focussed while day trading?

[Background]

Wide diversification is only required when investors do not understand what they are doing.

 

[sunkoki]

see bros this our trading.we have to open our shop at 9am and close at 3.30. so what is wrong in sitting in our shop.we have our products( holding) to sell and buy new products(stocks) this what we must do. limit the profit and limit the loss.a business have both loss and profit.this is my job, terminal is my office so sit.always pray god.

 

[Ratan Sagar]

1. Turn off CNBC
2. Log out of any trading chat room
3. Stop checking emails and social media

 

[Chawla88]

You must create for yourself such trading conditions that will not distract you.

Well, doing so may not be easy for beginners.

 

[Indira Securities]

Staying focussed is the key to success in any profession. When it comes to day trading or intraday trading in the stock market, the focus on the screen is one of the key factors to make the right decisions. It is very important to maintain intense concentration to monitor the continuously moving prices and capitalise on opportunities. Here we list down some simple ways through which you can improve your trading focus in the stock market.

• If you are an active day trader, you must avoid answering the phone call during market hours. Conversations on the phone can break your focus and you might miss out on trading calls. Also, stay away from the type of conversation that affects your mental state. For example, an emotional talk on the phone during market hours may bring negative energy and affect your trading strategy.
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• During day trading you must stay away from social media websites. Once you login to the social media account, you may end up chatting with someone or replying to people. This takes away the focus while trading and it must be strictly avoided during the trading hours.
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• On some days the market may not be exciting and moving in a range. You must not get into boredom during such days. To make yourself active you may stand around your table desk while taking the trade. You must have noticed that brokers you see on television often trade while standing. Being in motion will help you not only to stay focussed but also to bring the tiger out in you while trading.
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• Talking to yourself may sound insane but in day trading it will help you in maintaining composure and staying focussed. Doing this activity will help you in avoiding rush trades and saving your capital for better trades.
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• Meditation before the market and after hours will help you in increasing your concentration. Meditation keeps your mind calm and helps you stay focussed during day trading.
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• Always make sure to read day trade data and charts. By doing so you will be continuously engaged in the market activity and take good trades based on chart reading.

The above mentioned are some of the ways that will help you in staying focused during intraday trading.