ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Quote from Buy1Sell2:
Will begin looking short again now. 135 pts per contract on that trade. Nice gain--very satisfied with the performance.
Buy1Sell2 --
Do you recall about when you put this trade on? The reason I ask
is that I'm interested in how you might have gone about the decision of which contract to short. Did you initially choose the SEP
contract or did you roll a position from the JUN contract.
Is that even the correct terminology? -- I'm just beginning to learn about futures.
Thank you for your time and the voluminous journal.
newb
should woulda coulda is one of the worst habits a trader can have. Next time maybe trade small size to test the market.
The reason it is such a bad habit is that it becomes all about being right which leads to arrogance about the market. Epistemic humility as Taleb says. Good trading!
edit: I didn't notice that others responded trader psychology is important.
Princessa,
I think it's a mistake to allow your husband to dictate your trading and/or investment decisions; but more importantly It'll likely work in your best interest to fully confront why it is you sabotoged yourself asking a non-trader his opinion of whether you should or shouldn't take a trade. Certainly you knew that his opinion would reflect that of capital conservation and only agree if you can be certain you would make money on the trade. Non-traders don't understand that losing money and making it is what this business is all about.
Perhaps you're trading with money that can't be afforded to be lost (the only cardinal sin in this game). In which case, maybe a more conservative vehicle like a CD at a Federal Credit Union would be more to you and your husband's liking. The Pentagon Federal Credit Union is offering 4.60% fixed for 5 years. It's about the best around these days. There is some red tape involved in joining, but if you want to join you can.
Think about it. Your analysis is proving correct, but loss frightens you. Eventually, that fear even if you put your husband in his place, will interfere with your trading analysis.
Take a break, alone, and reflect. If you're not able to, or more apt, allowed to, and trading is something that you enjoy, love and live for like all other traders: a choice must be made.
You're not in an easy place. I wouldn't trade for awhile until you can get a handle on the situation.
My best to you regardless of your decision;
I think it's a mistake to allow your husband to dictate your trading and/or investment decisions; but more importantly It'll likely work in your best interest to fully confront why it is you sabotoged yourself asking a non-trader his opinion of whether you should or shouldn't take a trade. Certainly you knew that his opinion would reflect that of capital conservation and only agree if you can be certain you would make money on the trade. Non-traders don't understand that losing money and making it is what this business is all about.
Perhaps you're trading with money that can't be afforded to be lost (the only cardinal sin in this game). In which case, maybe a more conservative vehicle like a CD at a Federal Credit Union would be more to you and your husband's liking. The Pentagon Federal Credit Union is offering 4.60% fixed for 5 years. It's about the best around these days. There is some red tape involved in joining, but if you want to join you can.
Think about it. Your analysis is proving correct, but loss frightens you. Eventually, that fear even if you put your husband in his place, will interfere with your trading analysis.
Take a break, alone, and reflect. If you're not able to, or more apt, allowed to, and trading is something that you enjoy, love and live for like all other traders: a choice must be made.
You're not in an easy place. I wouldn't trade for awhile until you can get a handle on the situation.
My best to you regardless of your decision;
You Porgie,
Get the plywood ready again !
:eek:
Get the plywood ready again !
:eek:
i'm finding the confluence of friday's value area low with the 38.2 retrace of July's range to be of interest...Both are at 1256.50. We've tested it once this morning. Now we're testing it again.
On the other hand, there's a fair amoung of congestion as we move up to 1260, so I suppose this could be fairly described as "no man's land," a staging ground for a strong breakout in either direction.
On the other hand, there's a fair amoung of congestion as we move up to 1260, so I suppose this could be fairly described as "no man's land," a staging ground for a strong breakout in either direction.
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