Awash's Journal

Quote from porgie:

best wishes....
More...

Porgie,

I don't mean to be offensive but recently I commented about you posting to my journal. I wrote......

Quote from Awash:



Porgie,

What's up? Thanks for wishing me the best in my trading because I definitely need all the encouragement.

Since you've been posting to my journal I never mentioned anything negative about your replies. However, most of the time your input doesn't relate to what I'm trying to accomplish out of my journal.

You probably won't believe this but I've actually taken your advice on something. You repeatedly commented about setting 3 - 4 point stops.......



Consequently, I've learned to be more flexible with my stops depending on what time of day, the trade and several other factors. But on most occasions my initial stop is 3 points.

In short, I don't want to discourage you from posting here but I do want to recommend you offer constructive criticism accordingly. Don't always downplay someone's approach because what may work for you may not work for others!

There's no doubt in my mind that you can potentially offer valuable advice but there's a right way to do it. Whatever happens good luck with everything and if you're trading I wish you the best too.
More...

So, if you're going to continue to post in my journal try and offer constructive criticism. Thanks in advance!!!!!
 
porgie seems to be an AB. he seems to know what he's doing but he'll only tell you minor bits and pieces, get his satisfaction and pipe in on another thread.
 
Today was just an overall tough trading session for me but I made the best of it.

Trade#1 – [Short 1049.75 10:11 EST & Cover 1049 10:15 EST] [ P/L: + .75 ] Broke my support of 1050.75 and I just wanted a quick scalp.

Trade#2 – [Long 1048.50 10:26 EST & Exit 1048.75 10:36 EST] [ P/L: + .25 ] Took small divergence signal but price was bouncing around too much. Decided to cover to regroup.

Trade#3 – [Long 1047.75 11:53 EST & Exit 1047.50 12:23 EST] [ P/L: - .25 ] Just an overall awful trade. Entry was premature and I didn’t wait on confirmation. I was more patient with this trade then others. I finally decided to cover after 30 minutes of nothing.

Trade#4 – [Long 1045.00 15:45 EST & Exit 1046.00 15:47 EST] [ P/L: +1 ] No divergence signal just took it off my support of 1045. Just wanted a quick scalp for a late in the session trade.


No charts today! Don't have time.
 
Trade#4 – [Long 1045.00 15:45 EST & Exit 1046.00 15:57 EST] [ P/L: +1 ] No divergence signal just took it off my support of 1045. Just wanted a quick scalp for a late in the session trade.
 
Another tough trading session for me and I didn’t make the best of it. Low volume kept me on the sidelines coupled with my fear of trading in such tight ranges.

Trade#1 – [Long 1043.75 15:11 EST & Exit 1044 15:29 EST] [ P/L: + .25 ] Awful trade! My exit was too premature as a result of too many mental factors and I psyched myself out of a winning position.

Trade#2 – [Short 1045.50 16:04 EST & Cover 1045.25 16:08 EST] [ P/L: + .25 ] Awful trade! I took this trade because I missed my shorting opportunity at 15:45 at 1045.25 and I couldn’t stop myself from missing another sell signal. It wasn’t going to follow through for me so I decided to exit.

I need to seriously regroup tonight to prepare myself for tomorrow’s session. My emotions are consuming me and I’m making poor decisions; early exits; early entries and all sorts of other improper trade management rules.
 
Quote from Baruch:

Why do you take your profits so early?
More...

Baruch,

Lately, I've been exercising poor trade management. Hopefully, over the next few weeks I'll get better a mananging my trades without any emotional or psychological distractions.

It will take me a good 3 - 4 weeks as I'm still in transition mode!

Wish me luck
 
The short charts are spooking you...looking at a longer time frame chart for a second opinion is not a sin... WHIPSAW today .......long term indicator went sideways all day long.....which means....trade reversals or market will bite you.....no trades is not losing....breakeven is not losing...compulsion to trade results in forced trades which plagued me for a long time...either don't do that or expect to lose your money.......panic exits were my biggest enemy until I learned to ride the runs.......I never hear or see what I use to recognize reversals/exits....usually the same signal for both....Maybe those who have it don't talk about it...Just letting you know it is there and it is over 95% accurate. PLEASE DON'T TAKE ANYTHING I SAY AS ADVICE...JUST LIKE TO SEE MY THOUGHTS ON THE SCREEN...
 
You must log in or register to reply here.
Back
Top