jasinhbca's quest for discipline, knowledge & profits
- Thread starter jas_in_hbca
- Start date
Not a great day for my discipline. After first 2 trades I was +25 ticks and thought this is almost too easy.:eek: Based on developing price action I figured the odds were decreasing for easy trades. So the mindset switched to "protect profits and only take strong set ups." After missing a couple trades the woulda couldas hit me a little and I thought i need to start taking trades and push through this conservative mindset. (like I talked about the other day)The trades I passed on were valid trades but now PA was even worse than before moving back into HOD resistance. So next two trades -12 each.
Took me some time to refocus and remember that if I'm patient I make money. Next two trades -3 each and then final trade + 22 to finish +17 for day. I did decide to skip last 45 minutes of the session.
The positive is despite getting frustrated I stayed calm and had confidence in myself to do the right thing. Last trade had MAE of 9 and I remained calm and recognized that the pullback was still within normal PA. In the past I would have likely taken that loss. Also thought about increasing target on last trade but remembered I was down on day and I am not allowed to increase target in that situation.
Hmm, just re-reading. 'Had confidence I'd do the right thing.' That's a new mindset I believe.
OK getting interesting. Gotta balance ego, overconfidence and patience. Yeah, that can be done. Just focus on patience and PA. Don't over think it.
I still need to break through that wall of taking all valid trades or at least More valid trades. It will happen.
Anyway not a great day but not too bad either.
Took me some time to refocus and remember that if I'm patient I make money. Next two trades -3 each and then final trade + 22 to finish +17 for day. I did decide to skip last 45 minutes of the session.
The positive is despite getting frustrated I stayed calm and had confidence in myself to do the right thing. Last trade had MAE of 9 and I remained calm and recognized that the pullback was still within normal PA. In the past I would have likely taken that loss. Also thought about increasing target on last trade but remembered I was down on day and I am not allowed to increase target in that situation.
Hmm, just re-reading. 'Had confidence I'd do the right thing.' That's a new mindset I believe.
OK getting interesting. Gotta balance ego, overconfidence and patience. Yeah, that can be done. Just focus on patience and PA. Don't over think it.
I still need to break through that wall of taking all valid trades or at least More valid trades. It will happen.
Anyway not a great day but not too bad either.
Lost power last night - finally restored
Thank goodness for candles..., fireplaces..., and hot dogs
Back to business
====================
Yet another new day J
We remain the same..., we follow our routine... we do our job
We are not smart enough to second guess / out think the mkt
We don't second guess signals..., or each plan
We observer / monitor ourself
Trade well - and to hell with the results
RN
Thank goodness for candles..., fireplaces..., and hot dogs
Back to business
====================
Yet another new day J
We remain the same..., we follow our routine... we do our job
We are not smart enough to second guess / out think the mkt
We don't second guess signals..., or each plan
We observer / monitor ourself
Trade well - and to hell with the results
RN
Was wondering where you were. Glad all is well.
Amazing how hitting a couple targets can make for a good day.
Only traded after inventory numbers and it was a bit choppy. Don't think there were any mistakes. Maybe a little late entry on a couple trades. At one point was - 21 then caught some nice set ups and finished +37.
At one time in the past I'd see a set up and think 'oh, that's so obvious it can't possibly work" and I'd pass on a good trade. Now some of my entries are just automatic. Still some hesitation and missed trades too but much improved.
Trading from home tomorrow then going to Namm show (for those who know what that is)
Posting weeks PnL so far from trades on this computer. Monday was a holiday.
Observing/ monitoring oneself and reviewing trades is the key to improvement, IMO. Am I taking valid trades ? Am I exiting due to fear when I should be holding ? Am I taking trades out of hope or frustration ? Am I calm and patient ? Lot's to think about and then it gets to where you don't have to think about it. Much.
Not much to add. I'm listening to Trading in the Zone on CD.
Only traded after inventory numbers and it was a bit choppy. Don't think there were any mistakes. Maybe a little late entry on a couple trades. At one point was - 21 then caught some nice set ups and finished +37.
At one time in the past I'd see a set up and think 'oh, that's so obvious it can't possibly work" and I'd pass on a good trade. Now some of my entries are just automatic. Still some hesitation and missed trades too but much improved.
Trading from home tomorrow then going to Namm show (for those who know what that is)
Posting weeks PnL so far from trades on this computer. Monday was a holiday.
Observing/ monitoring oneself and reviewing trades is the key to improvement, IMO. Am I taking valid trades ? Am I exiting due to fear when I should be holding ? Am I taking trades out of hope or frustration ? Am I calm and patient ? Lot's to think about and then it gets to where you don't have to think about it. Much.
Not much to add. I'm listening to Trading in the Zone on CD.
Attachments
Good job jas.
I ended up ripping those CDs to my phone. forgot I don't have a CD player. Woops.
It's goooood.
-js
Yup - if one trading their damn PnL..., and/ or seeking affirmation / a pat on the back from the mkt
Satisfaction comes (as it should.., and must) only from doing our job correctly - regardless the outcome
Always be mindful;
We can do everything perfect - and lose
and/ or
We can do every conceivable thing wrong - and profit
Screwed up world we live/ work in - but - it's what we got
Progress.., and a victory - celebrate it (this weekend)
One step at a time
Not your opinion - Fact My Friend - especially so in this business
Keep up with the good habits - even when uncomfortable as hell
One day it'll be like riding a bike - no thought necessary (regarding us) - we just ride it while automatically adjusting for / to the terrain (or the mkt in the case of trading)
Good stuff
RN
good job jas. keep pushing forward
Another new day (and the last one of the week)
We remain the same..., we follow our routine... we do our job
We are not smart enough to second guess / out think the mkt
We don't second guess signals..., or each plan
We observer / monitor ourself
Trade well - and to hell with the results
RN
We remain the same..., we follow our routine... we do our job
We are not smart enough to second guess / out think the mkt
We don't second guess signals..., or each plan
We observer / monitor ourself
Trade well - and to hell with the results
RN