Getting my act together

[JimmyJam]

#1 - You have a great system, NEVER deviate from it!

#2 - I've found this to be of immense help to me (in many different areas ...) perhaps it can be of help to you as well, especially since trading is primarily a psychological game.

http://www.amazon.com/Instant-Self-...=pd_bbs_1/102-2056771-2465769?ie=UTF8&s=books

#3 - When you take away the pressue to succeed, you will.

Bes Regards,

JJ

 

[nkhoi]

+20, did I miss today P/L report?

 

[gutsytrader]

Quote from nkhoi:

+20, did I miss today P/L report?

Hmm, I posted the p/l and responded to some of the other posts.
I'll try again.

 

[gutsytrader]

Felt sick most of the day.

+100.42

 

[gutsytrader]

This week net +395.64
Last week net +282.30

# r/t's this week 9
# r/t's last week 5

Ave. trade this week +43.96
Ave. trade last week +56.46

Net profit increased this week mainly due to increased trading frequency. Also 2 of the 5 days I had 2 contracts open concurrently. None of the 9 contracts traded this week were closed for a loss.

The plan this past week was to trade multiple times per-day. This happened only during 2 of the 5 days. The plan was also to trade 2 contracts concurrently as much as possible. This also only happened in 2 of the 5 days. The average trade this week dropped. During one of the days I used stops and missed an extra $70. Had I not done this, the average trade would have risen to 51.74 per-contract.

I hope to continue increasing the frequency of trades per-day as well as the frequency of 2 open contracts at a time. Also, my goal is to increase the ave. trade size by exiting winning positions later. I missed many easy opportunities this week. I hope to miss fewer of them next week.

 

[gutsytrader]

Quote from fader:

the buy setup is internals going down and futures going up.

the rationale is institutions buying futures before they buy their intended basket of stocks.

why don't instiutions wait until the end of selling and let the futures price drop and then buy them?

thx. all the best.

I don't know why. Maybe it's because futures normally lead equities.

 

[gutsytrader]

Quote from gpzany:

Gutsy,

since you are doing such long hours, why not trade the morning and ride as best you can your positions until lunch time.

By finishing early, you can get more sleep and this will help you tremendously...

Sleep deprivation seriously affects performance in any field, let alone trading futures... and I know this from first hand experience - have been a light sleeper for many years...

Cheers.

I'm trying to work toward trading the entire session. Right now I often tire just after lunch, so I end up watching and missing some good opportunities. 5-6 hours of sleep is usually fine for me. On the big day this week I was exhausted because I got myself so worked up the day before and missed getting some good sleep. I'm trying to forget trades after they're done so I won't have a repeat of this non-productive behavior. Of course lots of sleep would be ideal, but we all have to make sacrafices to achieve our goals. If I get too exhausted I have stopped trading and gone to bed early.

 

[Wayne Gibbous]

Quote from BoyBrutus:

You lost your 200k job and have been doing night shift at the store for 2 years.

You had a $200K job and now work at a minimart for min wage???

I don't get it. You must have at least a four year degree, don't you? You should be able to get more than $20/hr + bennies with a degree.

 

[j_wentz1]

Quote from Wayne Gibbous:

You had a $200K job and now work at a minimart for min wage???

I don't get it. You must have at least a four year degree, don't you? You should be able to get more than $20/hr + bennies with a degree.

I wondered the same thing. But it's pretty much turned into a snivvel-fest, so I've found much better threads!

 

[rockn]

Quote from gutsytrader:

This week net +395.64
Last week net +282.30

# r/t's this week 9
# r/t's last week 5

Ave. trade this week +43.96
Ave. trade last week +56.46

Net profit increased this week mainly due to increased trading frequency. Also 2 of the 5 days I had 2 contracts open concurrently. None of the 9 contracts traded this week were closed for a loss.

The plan this past week was to trade multiple times per-day. This happened only during 2 of the 5 days. The plan was also to trade 2 contracts concurrently as much as possible. This also only happened in 2 of the 5 days. The average trade this week dropped. During one of the days I used stops and missed an extra $70. Had I not done this, the average trade would have risen to 51.74 per-contract.

I hope to continue increasing the frequency of trades per-day as well as the frequency of 2 open contracts at a time. Also, my goal is to increase the ave. trade size by exiting winning positions later. I missed many easy opportunities this week. I hope to miss fewer of them next week.

I read thru your most of your journal yesterday and found it fascinating. I currently have a day job, but would like to "trade for a living" eventually.