How Do Yall Handle the Near Misses?

F

Flashboy

What I mean is how do you guys cope with a day that should have been very good that turns out bad..

Example..

I was long Cattle over the weekend.. Had my sell stop at 77.50 this morning.. thought about lowering it a few points but didn't.

market went down to 77.45.. stopped me out.. and headed up to 78.50.. thats a $400 swing per contract..

On the Emini today.. 2 of my favorite setups at 10:10 & 11:40.... put a limit order in both times and did not get filled.. market eventually went in my direction without me.. missed each entry by a single tick.

So here's a day that should have turned out very good.. but didn't due to a few ticks here and there.. actually made a couple trades toward end of day to come out losing

Aggrevating..

Makes you think you should give up..

Makes you think you'll never succeed at this..

This business is tough.. mind games all the time..

I hope I can conquer this thing or should I say myself before it kills me..

Jeff
 
I know.. I've been struggling a great deal lately..

Contemplating taking a break..

Very frustrated..

I knew I shouldn't have made that post here about everything going my way.. boy that sure did turn around on me.
 
Quote from Flashboy:

What I mean is how do you guys cope with a day that should have been very good that turns out bad..
Example..
I was long Cattle over the weekend.. Had my sell stop at 77.50 this morning.. thought about lowering it a few points but didn't.
market went down to 77.45.. stopped me out.. and headed up to 78.50.. thats a $400 swing per contract..
On the Emini today.. 2 of my favorite setups at 10:10 & 11:40.... put a limit order in both times and did not get filled.. market eventually went in my direction without me.. missed each entry by a single tick.
So here's a day that should have turned out very good.. but didn't due to a few ticks here and there.. actually made a couple trades toward end of day to come out losing
Aggrevating..
Makes you think you should give up..
Makes you think you'll never succeed at this..
This business is tough.. mind games all the time..
I hope I can conquer this thing or should I say myself before it kills me..

Jeff
More...

Anyone who trades Cattle is my kind of guy! First trade I ever made I bought LC on an all time high that lasted several years! I got filled limit up, closed limit down! My advice, when that true feel is going, and I suspect today you had it...thats why your upset, give it some room. As you know taking small losses and having perfect entry location isn't an end all be all. Some days it is of course, BUT, on the days you think you got the Mojo, go for it!
 
at least you have discipline and thats a major key. protect what you have is my #1 rule so i'll always live to fight another day. i miss stuff all the time and i have learnt to let it go(sometimes) otherwise i'll get ticked off and chase it. then,of course,it reverses.
if i could only find that camera that watches me.lol.
btw,are u from texas? i'm in alberta where cattle are a big thing right now. :D
 
Quote from steeldust:

at least you have discipline and thats a major key. protect what you have is my #1 rule so i'll always live to fight another day. i miss stuff all the time and i have learnt to let it go(sometimes) otherwise i'll get ticked off and chase it. then,of course,it reverses.
if i could only find that camera that watches me.lol.
btw,are u from texas? i'm in alberta where cattle are a big thing right now. :D
More...


No ..from New Orleans..

actually I'm not all that disciplined.. on the days I maintain discipline.. like today.. I miss the trade..

other days I lose all discipline and chase.. and get slammed..

Its hard to deal with
 
I used to have a lot of near misses. I would get stopped out only by a few ticks, then ES would go in my favor ( I trades SPY and take signals from ES). That made me realize that my stop placement was flawed. I now use wider stops and trade less often.

The only way I was able to get this feedback was by doing the same thing EVERY TIME. I am also beginning to see that it is going to be hard to transition from SPY to ES trading my method on the 1 minute chart because of the different Tick increments. I am now also trading the 5 min chart and that seems to be the solution.

Good Luck
 
I just read something the other day re: how locals love this volume. Very easy for 'em to hit trader's stops. They know who is going long and they have a good idea where the stops are. Drop it down/buy it on the cheap. Potential solution - avoid the obvious technical stop pts. If you see it, so do they. Just some thoughts...Some guys will fade the locals...
 
Each of the things you chide yourself for could be done by your partner, the market.

By over stepping your bounds and taking this job away from the market, you get caught.

The one thing you do is predict and bet on the prediction.

Why not skip the predicting?

You have alternative tools for each thing you do as you take over.

Put those tools to work for the market to come to. Then you have an experienced partner that is always on your side and helping you out all the time.

It almost looks like you want to be right or something. were I you, I would switch to being rich instead.
 
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