I've often heard that the best traders are able to sit on their hands indefinitely while waiting for their choice setups. Well color me a trader as I passed the test with flying colors today.

After 6 hours of staring at the screen today, I had placed exactly one trade that was scratched about 10 mins later at breakeven. On a normal day for me I would've placed 7-10 trades in that time period.

It's easy to get bored looking at charts all day long. A trader that's undisciplined in this situation will make mistakes even if they know better. I know I've been guilty of that a time or two.

By “sitting on your hands” you prevent yourself from making irrelevant trades. Often times the best trade, is no trade at all. At the end of the day, trading is about protecting your risk capital so you can live to trade another day.

UPDATE: After a boring 7 hr session, the boards lit up in the final hour of trading.  In a span of 60 mins I was 7 for 7 to finish the day on a strong P&L note.  Wow!!