I Need More Accountability - Sim P/L

Quote from cnms2:

... don't hope, and don't be afraid ... just MADA!
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Hello cnms2 - thank you for this reminder. These words in your above quote are quite straightforward; however, I am not yet to the stage of being able to say the same concerning their implementation. The path has indeed been blazed, but it is up to each individual to retain his footing as he moves forward. Best regards ...
 
In plain English, today sucked. Blew an eight pointer (2 ct X 4 pt) early, and then just held , believing I would be offered the same profit potential later. Talk about completely misapplying the concept of 'hold'. I barely escaped this fiasco, and had to endure a large intraday equity swing for my total lack of discipline. Some days I even amaze myself with my own stupidity.

For some reason, I was thinking that today would mark the end of the first month for the journal, and had planned to put up a monthly p/l for later reference. This actually concludes the 5th week now, so I will show net totals for the first week (end of March), and then at the conclusion of each successive month (today ending April).

Week 1 (end of Mar.) 1540.10

Month of April 1945.40
 

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Quote from mephistoII:

In plain English, today sucked. Blew an eight pointer (2 ct X 4 pt) early, and then just held , believing I would be offered the same profit potential later. Talk about completely misapplying the concept of 'hold'. I barely escaped this fiasco, and had to endure a large intraday equity swing for my total lack of discipline. Some days I even amaze myself with my own stupidity.

For some reason, I was thinking that today would mark the end of the first month for the journal, and had planned to put up a monthly p/l for later reference. This actually concludes the 5th week now, so I will show net totals for the first week (end of March), and then at the conclusion of each successive month (today ending April).

Week 1 (end of Mar.) 1540.10

Month of April 1945.40
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http://www.elitetrader.com/vb/showthread.php?s=&threadid=83604&perpage=6&pagenumber=13

...an FTT followed by another FTT calls for a reverse, the trader who mistakenly identified the HVS as an FTT, would then be back on the right side of the market - after profiting from their misidentification.

As you see, mistakes not only cause the brain to begin to train itself, but as long as the rule set is followed, can often turn out profitable. As a result, misidentification of FTT's presents far less of a problem, than training oneself to take timely action once a misidentification reveals itself.
 
Nice sell-off this aft. Did I ride it - NO. Hmm - still more work to do. As the number of trades attests, I slipped back into my comfy scalper duds today. So Monday is out of the way - time again to try harder.
 

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Today was a bit better, but more of the same ol', same ol' with my approach. Still grabbing the quickies, and choking off the better entries. Becoming more apparent that I can't have it both ways - either I just accept scalping, or I commit to holding for the better gains. I just don't understand why the transition can be so difficult. Suffice it to say I am still coming to terms with the recent (past few months) ramp-up to consistency. Hopefully, at some point, the limitations will propel me to seek greener pastures - who knows! I realize this sounds like a broken record by now - don't know what else to comment on. For the record, it is what I struggle with daily.
 

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I was looking over your entry & exit times from yesterday's trades and noticed that none were at least 5 min. Most were in the 1 min range. I'm not saying this is good or bad, but just curious as to how you would of done if you'd of held your trades for at least 5 - 7 min. If you feel you're getting good entries (pt.3's, etc), maybe a strict minimum hold time would help you, with an allowed exit upon seeing a strong change signal.
 
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