How I stopped making the same mistakes in 2010 and started to make more money

Day 3

Another slow day, feels like summer. I'm going to start trading one more strat tomorrow since my current one is too slow right now.

I'm getting better every day at following my rules. I'm very aware of my own thoughts and actions during the trading day and it's been much easier to follow my plan lately. I had some free time yesterday and was reading a lot of postings here on ET. Most people say the same thing, they can't follow their rules/system (assuming the have one). I'm still not that much different but I'm slowly moving away from the crowd.

+133
 

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Quote from thinkfirst:

Day 3

Another slow day, feels like summer. I'm going to start trading one more strat tomorrow since my current one is too slow right now.

+133
More...

Why ?

Don't chase trades. Identify good quality trades - wait for them. The worst thing to do is to trade simply because you are getting bored or want more excitement.

Is this what you mean by the strat being too slow ?

Charlton
 
Quote from Charlton:

Why ?
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I’m trying to adapt to the current market conditions. There are so many ways to trade, I’m only using one and since I can only find couple of setups lately I have time to trade other strats.
 
Day 4

Strange day. I was buying too many stocks too early in the morning and it didn't look good. SWN pretty much saved my day and on my way out I shorted CI for a quick profit. Have to finish early today.

Have a nice weekend everyone

+152

+261 week
 

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Day 5

Weak p/l but very good execution day. I would do it the same way if I had to repeat this day again. Very happy with were I am during the trading day, relaxed, focused, confident. Tomorrow is "Day 6" this is where I usually start breaking my rules, I'll be extra careful this week.

-56
 

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Day 6

Don't know about you guys, but it's been pretty difficult for my style of trading last couple of weeks. Not many signals, and targets are small in .20c range. I know I need to adapt but it's easier said than done. I can't get used to the fact that I need to grind .20c all over the place, because I make most of my money on bigger moves. Hmm, maybe it should be a new strat? "grinding strat" ...


-138
 

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Day 7

I am trading very well, following all my rules. However not making more money yet. Some days are better than others of course. I've notice I have tendency to "wish" every trade to be positive and I have to remind myself during the day how absurd that is and It really doesn't matter how my last trade went or even last couple of days for that matter. I keep reminding myself that "There is a random distribution between wins and losses for any given set of variables that define an edge".

-315
 

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very true, law of probability eventualy prevails otherwise I would be a millionaire at roulette and craps

Quote from thinkfirst:

Day 7

I am trading very well, following all my rules. However not making more money yet. Some days are better than others of course. I've notice I have tendency to "wish" every trade to be positive and I have to remind myself during the day how absurd that is and It really doesn't matter how my last trade went or even last couple of days for that matter. I keep reminding myself that "There is a random distribution between wins and losses for any given set of variables that define an edge".

-315
More...
 
Day 8

Again trading very well. Stopped paying attention to the noise and just follow my plan. The way I see it now, all the noise is created by other traders who have different strats or can't follow their own plan. Instead of now getting worried about "letting winner trade turn into the loser" for example, I add more when rules allow and smile at my old self.

+377 , plus my swing longs are doing very well in this market.
 

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