Following a set system.
- Thread starter andy4
- Start date
Hi All,
didn't do too hot today, let myself get too involved about letting profits disappear, because of yesterday, nobodies fault except my own.
Went long around 10:30 am (879.5) rode it up nice. I was also papertrading another system, I know this would be hard not to get the time frames mixed up (in fact already had good advice about the possibility) Around 11.30 my fingers got too itching and I covered at 889.5. To be fair I wanted to close alot earlier around 892 but held on to my rules until I lost focus.
I did reenter short where my next signal would have put me in 20pt's off high of day at 876. (again I did want to get in early, but held on till my system would have told me to enter) A very important lesson I learned here was that when you break you rules and it kinda works out, you then are very likely to break them again. I ended up covering at 868, 5pts less than if I had followed through to the end of the day. Not a very good day I guess.
Here's the stats for what the system would have given if I'd followed it true.
1st trade -3.5pts, 2nd trade +13, total for day = +9.5pts
I did end up slightly more than that, but I failed for not following my rules and once again putting my trust in the wrong place. I only had two days left, and I couldn't manage one of them. Hoping to follow through correctly on Monday.
Have a super weekend,
Andy
didn't do too hot today, let myself get too involved about letting profits disappear, because of yesterday, nobodies fault except my own.
Went long around 10:30 am (879.5) rode it up nice. I was also papertrading another system, I know this would be hard not to get the time frames mixed up (in fact already had good advice about the possibility) Around 11.30 my fingers got too itching and I covered at 889.5. To be fair I wanted to close alot earlier around 892 but held on to my rules until I lost focus.
I did reenter short where my next signal would have put me in 20pt's off high of day at 876. (again I did want to get in early, but held on till my system would have told me to enter) A very important lesson I learned here was that when you break you rules and it kinda works out, you then are very likely to break them again. I ended up covering at 868, 5pts less than if I had followed through to the end of the day. Not a very good day I guess.
Here's the stats for what the system would have given if I'd followed it true.
1st trade -3.5pts, 2nd trade +13, total for day = +9.5pts
I did end up slightly more than that, but I failed for not following my rules and once again putting my trust in the wrong place. I only had two days left, and I couldn't manage one of them. Hoping to follow through correctly on Monday.
Have a super weekend,
Andy
Hi All,
well day 20 finally came. What a slow start as well, didn't get my first trade till after 3pm. Put me long 852, at least I didn't buy the very top
But it did sell off and my t-stop got hit at 836.5, even reversed me, for 5 more min's of trading ;-) To have to close out the day at 4pm (835)
Hey, I followed the system and if it wanted to put a trade on for the last 5 min's I guess so be it
Not a good day as far a money, which I know will be the final test of my trading career, but an A+ for discipline How many burgers can I get for that
Stats for the day,
1st trade -15.5,
2nd trade + 1.5
Total for the day -14pts.
I'll add a closing to my journal later.
Thank you all,
have a super evening,
Andy
well day 20 finally came. What a slow start as well, didn't get my first trade till after 3pm. Put me long 852, at least I didn't buy the very top
But it did sell off and my t-stop got hit at 836.5, even reversed me, for 5 more min's of trading ;-) To have to close out the day at 4pm (835)Hey, I followed the system and if it wanted to put a trade on for the last 5 min's I guess so be it
Not a good day as far a money, which I know will be the final test of my trading career, but an A+ for discipline
How many burgers can I get for that Stats for the day,
1st trade -15.5,
2nd trade + 1.5
Total for the day -14pts.
I'll add a closing to my journal later.
Thank you all,
have a super evening,
Andy
Hi All,
sorry it took a while for me to post a closing of the "set system".
Well 20 days can seem like a long time, I found myself actually wanting the next day to come sooner, mainly to see if that would be the day for a big move :-( No avail, but I must remember what the point of this was. DISCIPLINE !!
Education, a learning time, I did find out yet again new things about myself, some good, some not soo good. I ended down the 20 days (or at least the system did about 80pt's NQ. Did I expect that, in all honesty probably not, I was trying to allow for upto 200pt's drawdown, praise God it didn't quite get there But I think really in the back of my mind I thought I was onto something before I started.
Was it worth the 80pt's to do this, to be fair it would have been nicer at a different time, but I think, it was still spent in a worth while way. It's what I'll do from this learning time that will show if it was worth it or not.
My discipline did leave me a few times, a very painful time, because it spoke volumes to me about what I say "trusting in the Lord" is, and then actually doing it !!
God was very merciful, the blessings I've received from this, seeing Him at work, new friends, a closer walk, are things that don't show dollar signs but are far above that.
Hopefully it's been a useful journal, maybe somebody else can see useful ideas or even pitfalls in it, and that'll help them in there quest to become a pro' trader.
Really guys, thank you for your encouragement, ideas and especially your time for reading
Have a super time trading and remember how blessed you are to even have the opportunity to be able to try !!
Trading is also not always about today, just like the Christian walk(unless you've not received Jesus Christ as Lord and Saviour, then today is the "day" for salvation) it's about how we finish !! This journal is part of a new beginning for me, I could have taken the money and spent it on conferences etc, I felt led to spend it this way
Not that the learning will probably ever be over (again like the Christian walk) in my trading (even if a set system is used) but hopefully and prayerfully I've learned some new things now, and it's a few less things I have to learn down the road
May God bless you all,
Andy
p.s If any of you sense or have questions, wanting to know a little more about Jesus Christ my saviour, please feel free to PM me.
sorry it took a while for me to post a closing of the "set system".
Well 20 days can seem like a long time, I found myself actually wanting the next day to come sooner, mainly to see if that would be the day for a big move :-( No avail, but I must remember what the point of this was. DISCIPLINE !!
Education, a learning time, I did find out yet again new things about myself, some good, some not soo good. I ended down the 20 days (or at least the system did
about 80pt's NQ. Did I expect that, in all honesty probably not, I was trying to allow for upto 200pt's drawdown, praise God it didn't quite get there But I think really in the back of my mind I thought I was onto something before I started.Was it worth the 80pt's to do this, to be fair it would have been nicer at a different time, but I think, it was still spent in a worth while way. It's what I'll do from this learning time that will show if it was worth it or not.
My discipline did leave me a few times, a very painful time, because it spoke volumes to me about what I say "trusting in the Lord" is, and then actually doing it !!
God was very merciful, the blessings I've received from this, seeing Him at work, new friends, a closer walk, are things that don't show dollar signs but are far above that.
Hopefully it's been a useful journal, maybe somebody else can see useful ideas or even pitfalls in it, and that'll help them in there quest to become a pro' trader.
Really guys, thank you for your encouragement, ideas and especially your time for reading
Have a super time trading and remember how blessed you are to even have the opportunity to be able to try !!
Trading is also not always about today, just like the Christian walk(unless you've not received Jesus Christ as Lord and Saviour, then today is the "day" for salvation) it's about how we finish !! This journal is part of a new beginning for me, I could have taken the money and spent it on conferences etc, I felt led to spend it this way
Not that the learning will probably ever be over (again like the Christian walk) in my trading (even if a set system is used) but hopefully and prayerfully I've learned some new things now, and it's a few less things I have to learn down the road
May God bless you all,
Andy
p.s If any of you sense or have questions, wanting to know a little more about Jesus Christ my saviour, please feel free to PM me.
andy,
I've enjoyed your journal and hope we haven't seen the last of you.
I've enjoyed your journal and hope we haven't seen the last of you.
Hi Guy,
no way, I'm probably taking a few days off though, while family visits, my system will probably give big winners while I'm not around :-( Some of us have that golden touch for luck ;-)
But money can be made (or lost Any day and you never know how long family or friends will be around !!!
Will be back,, trading is what I'm suppose to be doing at this time
You know I'll be scanning charts, and of course reading Elite , when ever I have a free moment
I'll be back
Andy
no way, I'm probably taking a few days off though, while family visits, my system will probably give big winners while I'm not around :-( Some of us have that golden touch for luck ;-)
But money can be made (or lost
Any day and you never know how long family or friends will be around !!! Will be back,, trading is what I'm suppose to be doing at this time
You know I'll be scanning charts, and of course reading Elite , when ever I have a free moment
I'll be back
Andy
Andy, I hope this is not the end to your journal. I too have a problem with following my trading system. In four years of trading I have never had a full week staying with the system 100 %. Each day I start out with this as a goal and fail alot more than I should. It is nice to be able to come to this journal and where some else has the same problem as I who also loves the Lord.