ES Journal Archive (2009 - 2010)

[oraclewizard77]

The problem is no one wants to lose money. However, in trading you need to expect sometimes, you will have losing trades. I would suggest, you switch to sim, and wait for one of your setups that you normally, take. Take it will your normal stop and profit target. Once you prove your setups are working in sim, go back to trading real money.

The ES hit 1009.75, which to me means it broke support so I have not taken any more long trades, however, it looks like it was a false break out to the downside, since the market then rallied. However, one of the indicators that I use is still showing red, so I am sitting on my hands. My goal is to wait for my setup, and not over trade or revenge trade. That is the hard part of trading, you see a bunch of trades, and say, well if I did go long or short there, I would have been up 5 points, but if they are not part of your setup, its silly to trade that way.

Quote from luckylucy:

Does everybody have the similar experience?
That is sometimes there is kind of self-destructive mood when trading, like suicide trading.
Today i made two trades, both are not my set up, at least not my entry signal, but i jumped in with market order.
After i was in the market, i myself found that was not good. However, i didn't get out immediately and watched i got stopped out with the loss i seldom took . I prayed when the market against me but not took any action. Usually , i don't take such a big loss when the market is against me no matter i am right or wrong on the price action.
I am really slow today, and deep inside i kind of having the feeling that i want to lose.
What happened to me?

 

[tomahawk]

Quote from luckylucy:

Does everybody have the similar experience?
That is sometimes there is kind of self-destructive mood when trading, like suicide trading.
Today i made two trades, both are not my set up, at least not my entry signal, but i jumped in with market order.
After i was in the market, i myself found that was not good. However, i didn't get out immediately and watched i got stopped out with the loss i seldom took . I prayed when the market against me but not took any action. Usually , i don't take such a big loss when the market is against me no matter i am right or wrong on the price action.
I am really slow today, and deep inside i kind of having the feeling that i want to lose.
What happened to me?

I believe that self-destructive trading can sometimes be rooted in a subconscious core belief that any gains from trading would be ill-gotten, or at the very least undeserved. If you think trading is not a worthwhile/productive activity, or not a worthwhile use of time, then to lose at it is what is "right with the world", for the trader with such a belief.

..just my .02.

- Dr. Phil Tomahawk

 

[luckylucy]

Quote from petty1978:

I wouldn't say "everybody" but I am sure other people have similar feelings.

Being a disciplined trader doesn't mean that there will not be losses, and sometimes strings of losses. But to loose is to gain when trading disciplined AND with [conviction].

The idea of conviction sometimes is lost in the mix and struggling traders probably lack it or they just have a bad set of trading signals and are holding onto a dream until they are forced to stop trading the rough way.

I would suggest you evaluate your systems and if they pass the test then evaluate your real conviction in taking the trades in the midst of loss.

If you can not convince yourself that loosing some money is just part of trading then you are in for loss after loss or at best trading back to par. Both of which discourage the individual without conviction.

There is hope. Just proceed with logic and evaluate yourself openly regarding trading.

Best to you!

Thanks Petty, I have to stop trading for the rest of week, read some books, and retest my set ups.
The funny thing is that when i placed my orders today, i kind of knew that the trades wouldn't work, but why i didn't get out immediately? I watched myself being stopped out like i wasn't watching my own account. It is like to watch myself cutting my hand. i feel that subconsciously i am pursuit of the pain.(?) Now i am not depressed at all, but totally confused why i did that?
Those trades were definitely not my set ups. I have no idea why i jumped in.

 

[emg]

Quote from emg:

plan on going long 1094.50

order cancel

edit: probably hit 1094s near the closing

 

[luckylucy]

Quote from tomahawk:

I believe that self-destructive trading can sometimes be rooted in a subconscious core belief that any gains from trading would be ill-gotten, or at the very least undeserved. If you think trading is not a worthwhile/productive activity, or not a worthwhile use of time, then to lose at it is what is "right with the world", for the trader with such a belief.

..just my .02.

- Dr. Phil Tomahawk

Maybe, i don't know,

maybe i don't think i deserve winning?

 

[NoDoji]

Quote from luckylucy:

Does everybody have the similar experience?
That is sometimes there is kind of self-destructive mood when trading, like suicide trading.
Today i made two trades, both are not my set up, at least not my entry signal, but i jumped in with market order.
After i was in the market, i myself found that was not good. However, i didn't get out immediately and watched i got stopped out with the loss i seldom took . I prayed when the market against me but not took any action.

This happened to me many times, usually after I saw a good setup, hesitated on it, then missed the move. I would then try to "re-create" the reality that I missed by getting in way too late, which usually resulted in me selling a bottom or buying a top and instead of getting out right away when price didn't break out further, I'd place a really wide stop and of course the market has special scouts that locate traders who place stops 3x as wide as usual and it takes them out to teach them a lesson.

Or after missing a good move, I'd become impatient and trade based on no real setup at all, just on my opinion of what would happen next, instead of patiently waiting for another really solid setup.

Write down your 2 best setups and ONLY take those trades. No exceptions. If they don't appear the whole day or if you hesitate and miss the moves, then no trades that day.

Learn from emg. My brain still itches daily when he takes that 1 pt profit, but he follows his trading plan steady as a rock

 

[ammo]

it would be nice if the phone,gas ,electric and bank didn't deserve to get paid but it's hard to get them to go along with the program,so you may have to give in and allow yourself to earn

 

[luckylucy]

Quote from oraclewizard77:

The problem is no one wants to lose money. However, in trading you need to expect sometimes, you will have losing trades. I would suggest, you switch to sim, and wait for one of your setups that you normally, take. Take it will your normal stop and profit target. Once you prove your setups are working in sim, go back to trading real money.

The ES hit 1009.75, which to me means it broke support so I have not taken any more long trades, however, it looks like it was a false break out to the downside, since the market then rallied. However, one of the indicators that I use is still showing red, so I am sitting on my hands. My goal is to wait for my setup, and not over trade or revenge trade. That is the hard part of trading, you see a bunch of trades, and say, well if I did go long or short there, I would have been up 5 points, but if they are not part of your setup, its silly to trade that way.

Thanks oracle,
I will stop trading for the rest of the week, and start to trade in simu to back test my setups. My goal is also to wait for my set up, no set up no trade.
hope i can get back like a real warrior.

 

[luckylucy]

Quote from NoDoji:

This happened to me many times,

Thanks Nod for your advice, that sounds good.

I could be ok if i missed the move or re-create the market, since it happens to me a lot in the past.

But today it is like a pretty new experience, i clicked the market order buy in a price i really don't want, and set a bigger stop than usual.

The market had given me bunch of opportunities to get out with small loss, but i didn't take any action although i clearly knew this trade wouldn't work. It is like i deserve the loss(?)

 

[luckylucy]

Quote from ammo:

it would be nice if the phone,gas ,electric and bank didn't deserve to get paid but it's hard to get them to go along with the program,so you may have to give in and allow yourself to earn

I think i have to forced myself to win