Giving back some of morning profits overtrading afternoon

KCalhoun

KCalhoun

To quote britney whoops I did it again, was up nicely in the morning.... then gave back $500 or so trading afternoon plays that didn't work.

Anyone else do that? I seriously need to turn off charts at 11 unless market's at 2day high or low. Disappointed in myself, was in a green zone, high percent winning trades before 11, then I fckd up overtrading afternoon. : o
 
KCalhoun said:
To quote britney whoops I did it again, was up nicely in the morning.... then gave back $500 or so trading afternoon plays that didn't work.

Anyone else do that? I seriously need to turn off charts at 11 unless market's at 2day high or low. Disappointed in myself, was in a green zone, high percent winning trades before 11, then I fckd up overtrading afternoon. : o
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Pretty much exactly the same. Was up over $800.00 trading just mainly 1-2 lots of MNQ.

Than I saw:
#1 ES hit a Daily chart support level within 0.50 point.
#2 NQ hit Weekly chart support area
#3 I saw price progression / accumulation zones forming below me on my charts (in simple terms this tells me market is starting to build to bull side).

All that and I kept shorting and adding, looking to profit push instead of trade my charts. Gave everything back.
 
I think I'll find some pc alarm app that shouts and flashes big red "no trading after 11" on all 5 monitors. Its discipline.
 
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I rarely do discretionary trading. But started on Friday due to the 'easy' markets we have at the moment, high volatility = big moves and follow through.

I was just gambling today, was up $1200, then gave it all back, then went negative $1500. The tripped up and went long into the close, to end up $1200 again.

With discretionary trading I am a blowup waiting to happen.

Its too adictive.

I should stick to automated trading with well defined risk instead.
 
KCalhoun said:
To quote britney whoops I did it again, was up nicely in the morning.... then gave back $500 or so trading afternoon plays that didn't work.

Anyone else do that? I seriously need to turn off charts at 11 unless market's at 2day high or low. Disappointed in myself, was in a green zone, high percent winning trades before 11, then I fckd up overtrading afternoon. : o
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I did give a little back midday but made it up and then some.
 
formikatrading said:
This has nothing to do with a.m. / p.m. This is not understanding the market environment.
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Correct.

RTY (most interest rate sensitive) has been the leader on the downside, and today on the upside.

I watch up/down volume percentages and they all were pedal to the metal from RTH open on, but funny thing happened around 1230pm RTY, eMini and other indices futures stopped going down even though vol percentages (and TRIN) were still extremely bearish. Told me to ignore them, then late in the day they finally caught up. VIX also topped around 1230pm. Internals are extremely important on reversal days.
 
YES! You get it, my friend!


SunTrader said:
Correct.

RTY (most interest rate sensitive) has been the leader on the downside, and today on the upside.

I watch up/down volume percentages and they all were pedal to the metal from RTH open on, but funny thing happened around 1230pm RTY, eMini and other indices futures stopped going down even though vol percentages (and TRIN) were still extremely bearish. Told me to ignore them, then late in the day they finally caught up. VIX also topped around 1230pm. Internals are extremely important on reversal days.

RTY has been the leader on the downside, and today on the upside.
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formikatrading said:
This has nothing to do with a.m. / p.m. This is not understanding the market environment.
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Not directly it doesn't that is true. But some people have difficulty switching gears and a lot of times after 11:00 the market environment does change.

For me as explained in my post, multiple things I use were telling me to stop shorting at the very least and to take my profits. So, it's not like I took a trade and was like "oh wonder why that didn't work out, my analysis must have been bad". I was just profit pushing, so more like not following rules and I paid for it. This happens a lot to me since I am generally up prior to 11:00am and once I get gains I tend to get complacent. So, something like not trading after 11:00 would work for me (than again it still comes down to having to follow that rule).
 
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