It seems like you just wanted to be in a trade. Maybe you have a conflict about how trading relates to "working". If you're not actively trading, you're not working, which isn't at all true, but if you come from a framework where working means you're very busy all day (which is the framework I came from), it can get a bit surreal at times when you can make hundreds or thousands of dollars in a few minutes, then sit around for hours. Maybe you need to come to terms with day trading for a living as a job that may seem to require lots of action, but in fact one good trade a day can more than pay the bills. Watching for the ideal setup and getting in the trade in a timely fashion is part of the "work".
ES Journal Archive (2009 - 2010)
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It seems like you just wanted to be in a trade. Maybe you have a conflict about how trading relates to "working". If you're not actively trading, you're not working, which isn't at all true, but if you come from a framework where working means you're very busy all day (which is the framework I came from), it can get a bit surreal at times when you can make hundreds or thousands of dollars in a few minutes, then sit around for hours. Maybe you need to come to terms with day trading for a living as a job that may seem to require lots of action, but in fact one good trade a day can more than pay the bills. Watching for the ideal setup and getting in the trade in a timely fashion is part of the "work".
Absolutely.
Devil's advocate: sitting at home in one's pajamas playing a numbers game on the computer isn't quite the same thing as providing light and heat to the masses.
All I'm saying is, we as traders know this and must somehow rationalize it with the kinds of traditional values we may or may not have been brought up with. It is no doubt harder for some than others.
Now i start to feel the pain of loss, what a slow day!!!
And Thank you guys for all your input.
I definitely have no idea why i act like today, but the tuition tells me there can be any situations happening in both myself and market.
If i can't change it, avoid it.
I set some rules here:
no trade if there is no my set up;
no trade if i find myself negative and slow;
stop trading for a while, start to read some books and do some simu. It seems i have to build up my confidence from the beginning again...
And Thank you guys for all your input.
I definitely have no idea why i act like today, but the tuition tells me there can be any situations happening in both myself and market.
If i can't change it, avoid it.
I set some rules here:
no trade if there is no my set up;
no trade if i find myself negative and slow;
stop trading for a while, start to read some books and do some simu. It seems i have to build up my confidence from the beginning again...
Quote from luckylucy:
Now i start to feel the pain of loss, what a slow day!!!
And Thank you guys for all your input.
I definitely have no idea why i act like today, but the tuition tells me there can be any situations happening in both myself and market.
If i can't change it, avoid it.
I set some rules here:
no trade if there is no my set up;
no trade if i find myself negative and slow;
stop trading for a while, start to read some books and do some simu. It seems i have to build up my confidence from the beginning again...
Somebody once told me during a frustrating period in my trading career, " Do you want to be right all the time, or do you want to make money?!"
It literally was a choice I had to make in order to be successful at this. This allowed me to craft a new perspective on what I was trying to accomplish through trading.
If you replace, "Do you want to be right all the time" with another question that is personal to you, maybe that will help you center your issues.
HERE< HERE>, we will not have that kind of talk for ES traders.
Let me give you a little bit of modern technology to help. The days of having to choke on many losers are really over with some of the software platforms out there to use. No longer do we call on the tele to a crooked broker with an mkt order and hope he does not have a house payment due.
EXAMPLE: Software that sets a STOP LOSS at a certain number of ticks to get you out of a loser with ease. Taking profits at a certain number of ticks when ahead. Order cancells Order (OCO), automatic trailing STOPS on profits,...........get the picture?
Discipline can be sharply enhanced with thses types of tools. I mean, WHY NOT use them? I myself like to trade free hand but still have "OCO Trader" in there for lazy days or not quite feeling up to par but still throw in some trades, not automated but close, ha.
Check your trading platform and see if these tools are available.
Why would you NOT want to be FORCED out of bad trades until you gain more experience.
PS: I do not post during trading regular ES day hours.
Hang in there kid.........NoDoji pulled her hair and hissed at the dog during her learning process.............it comes, it gels, it takes a little time.
PS: I retrack that last statement, looks like inevitable was deleated, ha
LuckyLucy, the learning curve also can not be FORCED, take your time, be patient........this is a tough game. No hurry..
PSS: Today, after about 1430 est, that kind of price action was showing no real rhyme or reason. best to learn how to pass on stuff like that. I nibbled on a couple for small wins but was not brave and stopped before i got slapped. ha
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