ES Journal Archive (2006 - 2008)

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Quote from kamek:

you guys i'm going threw a dilema :(. i have a powerful setup that works 80% of the time and happens about 3 times a day (usually in the morning). i just can't seem to pull the trigger tho :(. it happen today and played out in 2 minutes and i could have my 800 dollars :(. my bare minimum bills is 200 dollars a month. i have serious traders block and i can't shake it. the last time i made money was last week shorting marriot. its good that i haven't lost money but letting oppurtinuties past all the time is killin me :(. man i'm about to get drunk.
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This is your problem. Fix it yourself. You have it within YOU.:)
 
Quote from JSSPMK:

If you don't believe in yourself, then none of us may help you. Most of us play with high leverage & all have their own demons, you have to believe in yourself, especially if you say you have an 80% win method. All the best!
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I doubt he has an 80% win method - i assume he is probably basing this on the last 10 or so opens.

I remember when i started i always thought i had great ideas and massive win ratio trades until i back-tested my ideas.

As a beginner i am sure he will not gain confidence overnight and this will take him a long time to develop. Hardest thing is to recognise you are simply playing the odds and a win or loss on any single trade should not affect you - easier said than done however.
 
What journal integrity purposes, there is no score card being keep. I enjoy waves targets. I take them for what they are, his targets. Sometimes he is right and when he is wrong he forgets about those calls. lol
 
Quote from Mins:

I doubt he has an 80% win method - i assume he is probably basing this on the last 10 or so opens.

I remember when i started i always thought i had great ideas and massive win ratio trades until i back-tested my ideas.

As a beginner i am sure he will not gain confidence overnight and this will take him a long time to develop. Hardest thing is to recognise you are simply playing the odds and a win or loss on any single trade should not affect you - easier said than done however.
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And to add

btw drinking alchohol will not help you, because as well as helping you to pull the trigger it will also effect your rational thought process when in a DD, so don't do it would be my advice.

Now that you backtested it, try going on a sim using minimum size, get used to the platform & used to your method.

Get used to an idea that it might take you a few years to become profitable
 
You think that bounce off 14.25 was random, first target for today 1244. The best part is how they play both sides by a tick lots of times.
 
80% and not giving you confidence?

That tells us something - you do not know your method inside out yet.

Since you said 80%, then you must have done some testings, right?

Look into each and every one of the setups, the trades taken, the stops needed, and all the outcomes. That will build up your mental strength in dealing with real-time setups.

The so called psychology thingy depends highly on the person's understanding and perception of the experience. By studying the historical setups in great detail, you are building up experience and better confidence in handling various scenarios.

e.g. without knowing how to ride a bike (or skateboard) and jump onto one and start riding at full speed of course is a traumatic experience. :)
 
All the factors are there oil down $5, financial doing well and the US dollar stable.



Quote from Spectre2007:

looking at various factors, the market is susceptible to a massive rally today.
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