...And They Have a Plan. (Live.)
- Thread starter Overnight
- Start date
Only update with real is I'm in 3 MNQ long at 7831.00 on an average down, which turned into a swing real quick during the UN session, with ~32 point target. Going on vacation on Sunday, so will keep the GTC target there for the duration. I feel confident it will get there before roll on Dec 19th.
Been reformulating, re-examining what kind of a trader I am, and am working through the psychological issues.
Most importantly, have been trying to get better at entries, with appropriate targets and stops. And it has been working quite well, so long as I don't pull any crazy-ass psych-out stuff, pull out a piece on the lanes. (<---See Lebowski for reference).
It worked well this week. I would have posted this in the sim journal, but that is a BS journal. This time it was with real effort. Nothing crazy, all day-trades.
If I can pull this off in live, I will be quite happy. These are stats I can live with. A nice mix of averaging and straight-up, but all day-trading. Some with fixed ATM, some discretionary. Small losses and small wins, (With the occasional large loss and large win), but more wins than losses. Make good entries, use PRM, and convince myself that with Trump, swinging is too-nerve-wracking and not worth it. So hard for me to break a habit once it is formed in my head. I should have it banged into my head since a year ago that old rules cannot apply. And now with this impeachment thing this week? Good grief.
Been reformulating, re-examining what kind of a trader I am, and am working through the psychological issues.
Most importantly, have been trying to get better at entries, with appropriate targets and stops. And it has been working quite well, so long as I don't pull any crazy-ass psych-out stuff, pull out a piece on the lanes. (<---See Lebowski for reference).
It worked well this week. I would have posted this in the sim journal, but that is a BS journal. This time it was with real effort. Nothing crazy, all day-trades.
If I can pull this off in live, I will be quite happy. These are stats I can live with. A nice mix of averaging and straight-up, but all day-trading. Some with fixed ATM, some discretionary. Small losses and small wins, (With the occasional large loss and large win), but more wins than losses. Make good entries, use PRM, and convince myself that with Trump, swinging is too-nerve-wracking and not worth it. So hard for me to break a habit once it is formed in my head. I should have it banged into my head since a year ago that old rules cannot apply. And now with this impeachment thing this week? Good grief.
ENJOY YOUR VACAY!
It'll be in Sebasco, on the water. LOVE that place. Too bad it looks like the weather will be shit most of the time. :-\
Final update for at least 2 weeks...
This was a bad day in a sense...
(Live trade still festering.)
SIM...
I treated it seriously, but did I?
This is the sort of thing that has gotten me into trouble...The initial entry went way wrong, so at that certain point in time it looked like a bounce. I banged in another NINE contracts on the loser, and took a small profit on the 10 contracts. Without trades #1-9 the day would have been about +75 bux profit.
Quite unhappy with the day. Man, I need a vacation. Oh, er...
This was a bad day in a sense...
(Live trade still festering.)
SIM...
I treated it seriously, but did I?
This is the sort of thing that has gotten me into trouble...The initial entry went way wrong, so at that certain point in time it looked like a bounce. I banged in another NINE contracts on the loser, and took a small profit on the 10 contracts. Without trades #1-9 the day would have been about +75 bux profit.
Quite unhappy with the day. Man, I need a vacation. Oh, er...
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I don't understand why there is an explanation/excuse/reason comment beyond...
The sentence should end with... I took my loss and looked for my next trade.
You even say "at THAT certain point"... So you knew you were fucked!!
As for the video game mentality adding 5,6,7,8,9 TIMES what you would ever contemplate in real life... dude, you are ingraining DISASTROUS habits!! And you think it's ok because you took a small profit!?!?! Disaster waiting to happen.
I give you credit though overnight. In other threads you are trying to learn new techniques that you seem comfortable deploying. But personally, I think you are looking at the wrong side of the equation for a fix. I think you should be looking for a signal to exit BEFORE the trades turn unwieldy. You have chosen instead, to focus on adding to losers rather than minor manageable losses. To each their own.
The sentence should end with... I took my loss and looked for my next trade.
You even say "at THAT certain point"... So you knew you were fucked!!
As for the video game mentality adding 5,6,7,8,9 TIMES what you would ever contemplate in real life... dude, you are ingraining DISASTROUS habits!! And you think it's ok because you took a small profit!?!?! Disaster waiting to happen.
I give you credit though overnight. In other threads you are trying to learn new techniques that you seem comfortable deploying. But personally, I think you are looking at the wrong side of the equation for a fix. I think you should be looking for a signal to exit BEFORE the trades turn unwieldy. You have chosen instead, to focus on adding to losers rather than minor manageable losses. To each their own.
It is because of the ACTION I see on the chart at the time I make the decision. What I should do is make a recording of what goes on with these charts when that happens, so you can see why I do what I do. It is impossible to explain with words. Hmm. That is a good idea. Gotta' see how to make that work.
I do not know what it looks like on time-based charts, but on Unirenkos it is a hell of a ride.