2012 Trading Journal of 2steps

You are trading with FEAR. You have no clue what you are doing because you have no system that has a proven track record. I suspect you have not even done backtesting. Quit now.

Go develop a system that you know has an edge (even a slight one). Then sim trade it and build confidence that the system works. When you have that you can gather stats on your trades. THEN when you have at least 40-100 trades you run the stats and do a MC Sim. Then you will KNOW whether or not you have a winning system. AT THAT TIME you will have all the confidence you need to trade and not worry about fear because you will KNOW that statistics show you will make money.
 
Quote from N54_Fan:

You are trading with FEAR. You have no clue what you are doing because you have no system that has a proven track record. I suspect you have not even done backtesting. Quit now.

Go develop a system that you know has an edge (even a slight one). Then sim trade it and build confidence that the system works. When you have that you can gather stats on your trades. THEN when you have at least 40-100 trades you run the stats and do a MC Sim. Then you will KNOW whether or not you have a winning system. AT THAT TIME you will have all the confidence you need to trade and not worry about fear because you will KNOW that statistics show you will make money.
More...

Thanks for the advice, very helpful.



No trade today. oil tards acted earlier than I thought.
 
I blew up today.



just kidding, emg. I bet you got excited after reading the above words.
one trade today, entry is almost perfect match for the setup, but it didn't develop. Rarely did I follow my rules well, and the only time I followed my entry rule, the market refused to cooperate.
So I removed the stop and placed a one-tick profit limit order (my typical way of exit), it went very close to the price where my stop had been. Then after 10-20 agonizing minutes, it went my way and triggered my limit order. I made 8 dollars and I said to myself: "I am out here!"

Oh, boy, the pain is unbearable. I mean my backache. But you know what I really mean if you have been through this.
 
tried to enter three times, but didn't get filled.

then entered the fourth time, but it didn't go my way right away. so I removed the stop and entered a limit order and got two tick profit.

I now knnow there are different kinds of pain: head pain, neck pain, back pain, butt pain (aka pain in the ass), leg pain and foot pain. And the shadow of pain.
 
I think I will blow up anytime.

I was looking at this chart and I thought it looked like my setup, but I hesitated and didn't enter. It turned out to be a winner.

Then I tried to enter twice, but orders were not filled. Both turned out to be winners.

Then I tried to enter a third time, got filled, but it didn't go my way. Thinking that it would trigger my stop, I removed the stop and waited.... Then it passed the price where my stop had been. Then it came back and I got out with a one-tick profit. If I had left my stop in place, I would have lost money.

The moral of the above trade is: Remove your stop and you won't lose money. Never let the crooks run your stop.

Then I developed a headache, a real one. I still have it while I am typing. Pain in the head. I think I got it because my cell phone alarm went off every 2 minutes this morning (it used to be one time only). I didn't know a cell phone can over-alarms, like a trader who over-trades. Dragging myself out of bed in the morning and turning on the computer is a pain in the ass.

I have a trip to make tomorrow, so I won't trade tomorrow.
 
The previous few weeks haven't seen a single loser. Isn't that great? It makes emg very disappointed.

This weekend saw some changes in my method. As a result, I will produce losers next week, to make emg happy. Small traders lose, right?

Yes, I will produce losers! Happy, emg?

It's not too late bet on my blow-up, emg. Do you think I will blow up before the end of February, March, April or May 2012, emg?
 
+$8.

At least I am consistent.

Consistently on the edge of a cliff.

emg, you still have a chance to bet on when I will blow up.
 
You must log in or register to reply here.
Back
Top