Quote from Flashboy:
...Reason for doing this is I've been having a problem with discipline lately and hopefully knowing I have to post my trades here for others to see will help me be more disciplined..
Also hoping to get some suggestions on what my improve my trading..
Will start tomorrow.. nothing good to show today..
The following bmp file is just a test to see if it will work..
Jeff, (this is a friendly reminder post...in hopes of getting you to open your eyes a little wider)
If your going to post a trade journal to help with your discipline...
your going to need to post your trades in realtime if you feel that posting trades in the first place is a possible solution to resolving your discipline problems.
This is the main reason why most journals under the theme
discipline have failed or the poster didn't achieve their goals via the trade journal.
With that said...your trade journal will be good for suggestions.
Out of curiousity...what city are you located in?
Have you thought about getting together in person with other traders in your area...have some sort'uv time off from trading for a day or two each week from real money trading and walking through your trade signals with someone watching...spend time in person discussing problems during actual market conditions?
Then after a month of this...get together again in person while someone is watching you trade in realtime as you explain your trade from start to finish...real money trades.
The purpose of the above task is to slow down those emotions that's currently are sabotaging your trading (I have read your prior posts)
http://www.elitetrader.com/vb/search.php?s=&action=finduser&userid=16518
(none of that after hours over beer stuff)
Maybe some of these traders will see something in person that posters at a discussion forum can't see that's contributing to your
discipline problems.
Simply...a realtime trade journal slows down your emotions, allows you to see right then and there a different perspective as soon as you click the send post button...
allows for replies prior to the next possible trade to help calm things down a bit prior to that panic stage grasping your mind or prior to that feeling of out of control.
Remember this...if you need solutions or help...
realtime is a lot better than after the fact.
Not always the case for a few traders...but the case for most traders with discipline problems.
In person and in realtime...even better.
These are some things I'm going to remember as I read your journal from some of your prior posts:
My position size was too large
You gave no explaination why you trade numerous different markets to produce a large overall position.
Its so tempting.. and I've promised myself I won't do it anymore.
If your not a scalper...why try to become one during the trading day?
Thus, if your going to change your trading style or plan...at least reduce your size to control your risk if your wrong.
I agree..and will become more adament about checking for them.
Your not doing your homework prior to the open...possible other obligations such as going to work?
Therefore...make some sort'uv check list for every morning prior to the open and during the first hour of trading.
the biggest dissapointment for me is I keep making the same mistakes over and over
Your discipline problems are deeper than you think or telling us.
Therefore, a hindsight trading journal will not accomplish goes about your discipline.
I don't trust my strategy.. and I'm letting emotions get in the way too often
What exactly is your trade methodology?
Can you copy and paste it here for posting? If not...why not?
http://www.elitetrader.com/vb/showthread.php?s=&threadid=19468&perpage=5&pagenumber=1
I notice when you started the above post...you never replied to
RAMOUTAR about your trading plan...
Do you have one?
Also...don't forget this post and some of the replies:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=19991
Another post you shouldn't forget...
http://www.elitetrader.com/vb/showthread.php?s=&postid=290063#post290063
If you start posting in this trade journal more than 1 contract with your current discipline issues while undercapitalize...
your going to choke on what your biting off.
You rationalize in that above link that you put on size (2-3 contracts) when something is really good (high probability)...that rationalization is a problem
I also thought it was odd that you were worrying about 100-200 contracts when your currently trying to max out your $4,000 account via 2-3 contracts.
NEVER forget this...
discipline problems will always win by a knock out over a high probability signal.
Undercapitalization Problems:
Stress, discipline problems, hesitation, trying to make back losses, ignoring trade signals, worrying about why you didn't get that extra point if you still followed your plan to perfection et cetera.
Here's another discipline exercise...
everytime you break your rules...regardless if you profit or loss...
Your not allowed to trade the following day.
It's your punishment and allows you a chance to breath...regain perspective...
to help avoid a BLOW UP day.
Also...you like to use words like
Totally out of ccontrol and
Cocky
Here's your cycle of posts...
Feeling Cocky via Wins --->>> Feeling Out of Contol via Losses --->>> Post for Help --->>> Feeling Cocky via Wins
That's why I suggest you get together with other traders in person in realtime in your city.
Another discipline exercise...everytime you get cocky or make good trades...post an in-depth chart of those winning trades and ask for analysis...ask for critism...
until you no longer feel cocky after what others say about your wins.
I'm still curious how you are able to maintain concentration while trading from work...
http://www.elitetrader.com/vb/showthread.php?s=&threadid=19436
Is it possible that is the reason why you have a serious discipline problem...
your just not mentally in the game.
Thus, because your trading from work...maybe your current trade methodology is not suited for such.
Trying to be a day trader or position trader from work while undercapitalize with serious discipline problems...
is a tad bit absurd.
Is it possible that when you say your on your way to work...you mean your on your way to trading?
Last of all...you should only be trading with 1 contract...
so why are you concentrating on monetary goals via the below post...
http://www.elitetrader.com/vb/showthread.php?s=&threadid=19019
You should be concentrating on your trading plan, discipline, emotional circuit breakers (in person trading pals are good for this if trading from home) and education.
That education stuff...use ET Hook Thread and meet some traders from your own city and start discussing the markets in person and during market hours...
http://www.elitetrader.com/vb/forumdisplay.php?s=&forumid=28
If you don't have time for such because of work or whatever reason...
you shouldn't be trading.
P.S. Being profitable during a trading day that lacked discipline will cause more harm than good than having a losing trading day while achieving discipline.
Don't forget to post a complete journal...
Contract size, time of entry, time of exit and the whys.
Don't trade more than 1 contract with your current problems!!!
NihabaAshi
