2013 [P&L journal]

[RichardRimes]

Quote from masterm1ne:



+$600 for this week on one trade. Should have been around $3,000+

.

fwiw....I notice in almost every other post you berate yourself for either missing a plus trade or not making what you "should" have. I heard somewhere athletes and traders needed short memories. If you listen to really good ones they almost NEVER reference their losses...they focus on their wins.

It has really helped me mentally to quickly move to the next trade win lose or draw. As long as we have made an intelligent decision based on our plan...move on and let it go.

 

[ammo]

Quote from masterm1ne:

My OIC removed me from pt care & put me on admin. Thanks, now I can do something useful and watch the market.

Big problem I've run into before and last couple days (esp Tuesday); my planned trades often cause me to bet against the dominant trend. This is a huge problem and where most of my profits have gone. I'm still working on how to fix this.

I would be positive for the week if I quickly reversed my long when my stop was triggered early Tuesday and just held the short till close or mid Wed

Still sitting @ ~18,000

-200 trading one contract for on 2 trades for this week

dont know what illness your battling, but when battling you are mentally in betting against mode

 

[masterm1ne]

Quote from RichardRimes:

fwiw....I notice in almost every other post you berate yourself for either missing a plus trade or not making what you "should" have. I heard somewhere athletes and traders needed short memories. If you listen to really good ones they almost NEVER reference their losses...they focus on their wins.

It has really helped me mentally to quickly move to the next trade win lose or draw. As long as we have made an intelligent decision based on our plan...move on and let it go.

Thanks Richard but focusing on my wins has only blinded me to my losses. Focusing on weakness is a personality trait that makes me who I am. It has made me better at everything I do... eventually.

The most important thing for me to figure out at this point is how not to lose money. I have to focus on losses because I would be making a lot of money if I could figure out how to stop losing it.

 

[masterm1ne]

Quote from ammo:

dont know what illness your battling, but when battling you are mentally in betting against mode

The only illness I have is hypomoneyitis

 

[masterm1ne]

2 days traded last month

Government furloughs + fear

+$300 today (8Aug) on one contract

I traded my plan selectively... I'm in that transition mode, as I mentioned yesterday making revisions to the plan. Not the best time to trade, but it was a (previous) planned one at least.

 

[masterm1ne]

Week in review;

-100 & -200 on Mon and Tue

Had I reversed my position where I was stopped out I could have at least recovered the losses. The -200 should have been more around 100 but I went afk as a Col took me away from my desk. This would have made for a solid week.

I sat out Wed. Due to plan revisions.

+300 & +200 on Thur/Fri.

Traded 1 lots down from 5 to penalize & discipline myself.

 

[masterm1ne]

And the trade runs twice as long as I held it

I'm such a bad trader cutting my winners short

 

[ammo]

Quote from masterm1ne:

Thanks Richard but focusing on my wins has only blinded me to my losses. Focusing on weakness is a personality trait that makes me who I am. It has made me better at everything I do... eventually.

The most important thing for me to figure out at this point is how not to lose money. I have to focus on losses because I would be making a lot of money if I could figure out how to stop losing it.

focus on the market only,not the money,money makes folks emotional,treat it like an internet game of points

 

[masterm1ne]

Quote from ammo:

focus on the market only,not the money,money makes folks emotional,treat it like an internet game of points

please help me do this, how does one not care if they are up or down $1,000 per tick?

 

[ammo]

you see a setup ,you know your target,you know when it isnt working and you take your preaccepted loss/pts,hopefully if you have a good/high probability setup,your winning points outway your losses,with practice the losses diminish and the gains increase,always have a price where you know it isnt working to get out and wait for another setup