jasinhbca's quest for discipline, knowledge & profits

[jas_in_hbca]

I suppose I've made good progress when I can have a nice up day and be disappointed in my performance.

My notes made after trades:

"Trade 1 : Calm through out. Had larger target that not initially hit. Slight regret I didn't keep usual 25 target price came near BE stop and I lowered by a couple ticks based on experience and change in plan of the other day. Price hesitated a bit on swing break and I exited.

Good job and move on.

trade 2. Too soon for another trade ? This is a good in plan entry. Nervous that wasn't moving through support after entry. Why nervous ? Price paused before target so I exit pleased but then realize I s/h given it more time. Thinking about PnL or was it just a good area to exit ? Am I being overly critical or just want to be sure i'm following plan ? What is plan ? With 'anything can happen' in mind I s/h stuck with target and been more patient in trade.

#3 Price dropped quickly 20 ticks taking out swing and reversed in a flash. I exited on the fast reversal assuming buyers strongly stepped in. I believe this was an emotional exit. I believe there may have been a fear of giving up profits. I did not do my job on this trade.

re focus , let go.

Patience"

Good job pulling trigger today. Some mistakes but don't beat yourself up over them.

chart attached, last trade not shown

 

[jas_in_hbca]

It was pointed out to me that my last trade was at 7:00 am ISM news report which is likely why I saw volatility and exited. I forgot about possible news reports.

 

[Redneck]

I suppose I've made good progress when I can have a nice up day and be disappointed in my performance.

Now way to tell;

We can do absolutely every thing wrong - and still make money

Just like

We can do everything correctly - and still lose money


This is why;

Do your job - screw the results - is our mantra (as long as doing our job produces profitable results over a series of trades)

===================================

My notes made after trades:

"Trade 1 : Calm through out. Had larger target that not initially hit.

Slight regret I didn't keep usual 25 target price came near BE stop

and I lowered by a couple ticks based on experience and change in plan of the other day.

Price hesitated a bit on swing break and I exited.

Good job and move on.

To the outside observer (me);


I have a set profit target - but I increased it

Why / based on what data

++++

Price did not hit this increased profit target - so I regretted increasing it

++++

Price came near my B/E stop - so I increased that (based on experience (aka hindsight bias) - screw the uniqueness..., of every trade / of each trade's outcome)

why..., why.., why

++++++++++++++++++

So..., after fiddle fucking with my profit target..., and stop loss

Price never hit either.., but rather hesitated

So I exited

Again; why..., why.., why

+++++++++++++++

Call me kooky - but does any of the above I posted even remotely resemble a thought out trade plan..., or a trade plan followed through to fruition

Or rather..., does it reflect a series of knee jerk reactions to price doing its thing

#3 Price dropped quickly 20 ticks taking out swing and reversed in a flash. I exited on the fast reversal assuming buyers strongly stepped in. I believe this was an emotional exit. I believe there may have been a fear of giving up profits. I did not do my job on this trade.

You've addressed trade 3

re focus , let go.

Patience"

Good job pulling trigger today.

Some mistakes but don't beat yourself up over them.

I would not suggest beating yourself up - that straight up doesn't work

I would suggest knuckling down (or nutting up) and following each plan to fruition - win or lose

=====================

Sometime we win..., sometime we lose - that is a hard fact of our chosen career

Don't like this fact - there are other careers

RN

 

[jas_in_hbca]

Yes, I agree and which is why I was disappointed.

It appears I can't flip the switch to strict discipline but am content to make gradual improvement. That's not my intent but that appears what's going on.

Ignore PnL and nut up. Yes. And have patience. Follow the plan. Let go.

If not now, when ? And why ?

Back again tomorrow.

 

[Redneck]

J

I still love Ya man

You'll get their I've no doubt

You simply have a hardass (and dumbass) redneck watching your 6



RN

 

[jas_in_hbca]

And right back at ya

I just feel bad I'm making you always repeat yourself, or worse having to come up with new ways to tell me the same thing.

jas

 

[Redneck]

Man don't sweat it

One day it will stick - and once it does - katy bar the door

RN

 

[jsmacksem]

I suppose I've made good progress when I can have a nice up day and be disappointed in my performance.

My notes made after trades:

"Trade 1 : Calm through out. Had larger target that not initially hit. Slight regret I didn't keep usual 25 target price came near BE stop and I lowered by a couple ticks based on experience and change in plan of the other day. Price hesitated a bit on swing break and I exited.

Good job and move on.

trade 2. Too soon for another trade ? This is a good in plan entry. Nervous that wasn't moving through support after entry. Why nervous ? Price paused before target so I exit pleased but then realize I s/h given it more time. Thinking about PnL or was it just a good area to exit ? Am I being overly critical or just want to be sure i'm following plan ? What is plan ? With 'anything can happen' in mind I s/h stuck with target and been more patient in trade.

#3 Price dropped quickly 20 ticks taking out swing and reversed in a flash. I exited on the fast reversal assuming buyers strongly stepped in. I believe this was an emotional exit. I believe there may have been a fear of giving up profits. I did not do my job on this trade.

re focus , let go.

Patience"

Good job pulling trigger today. Some mistakes but don't beat yourself up over them.

chart attached, last trade not shown

We're you disappointed because your changed your trade plans? It's great you had an up day!

I'm faced with this temptation sometimes too. The more I deny it and stay objective, the quieter the voice becomes. Many fears come up for me when tempted to change a plan. I work on eliminating those fears and it's helping.

Good job jas. I'm glad your sticking around a little longer.

-JS.

 

[jas_in_hbca]

Thanks, JS.

My first trade the higher target was picked at entry based on the strength of prior leg and targeting the swing at 49.90. I'm fine with how I managed that although I second guessed myself while in the trade.

Trades 2 & 3 were managed more emotionally. Trade 2 was a entering a possible support area and I thought take the 15 ticks rather than give it time like I should have. Sometimes I'm good at holding in this situation and other times not. This lack of consistency of me not following the plan here is what disappoints.

trade 3 same thing. I know better than to get thrown off by a fast bar. (Take hand off the mouse !)

So short answer made long. I was disappointed I did not follow my trade management rules for trades 2 & 3.

I agree. The times I just force myself to do what I'm supposed to do more often than not works out well, which creates a nice positive reinforcement loop. And forcing is not as difficult as it implies. It's just reminding oneself in the trade of what one is supposed to do. At least that's what I've done. At some point I would expect it becomes just being an observer. I've felt that detached state too. It's pretty cool.

Thanks for the question and nice trading yourself today !

 

[jsmacksem]

Thanks, JS.

My first trade the higher target was picked at entry based on the strength of prior leg and targeting the swing at 49.90. I'm fine with how I managed that although I second guessed myself while in the trade.

Trades 2 & 3 were managed more emotionally. Trade 2 was a entering a possible support area and I thought take the 15 ticks rather than give it time like I should have. Sometimes I'm good at holding in this situation and other times not. This lack of consistency of me not following the plan here is what disappoints.

trade 3 same thing. I know better than to get thrown off by a fast bar. (Take hand off the mouse !)

So short answer made long. I was disappointed I did not follow my trade management rules for trades 2 & 3.

I agree. The times I just force myself to do what I'm supposed to do more often than not works out well, which creates a nice positive reinforcement loop. And forcing is not as difficult as it implies. It's just reminding oneself in the trade of what one is supposed to do. At least that's what I've done. At some point I would expect it becomes just being an observer. I've felt that detached state too. It's pretty cool.

Thanks for the question and nice trading yourself today !

The positive reinforcement loop is great! Eventually, there won't be any more conflict/forcing. It will just flow. Embraced.

I'm glad you are learning. Good stuff. I like reading your updates and other follow ups.

-js