jasinhbca's quest for discipline, knowledge & profits

[Hooti]

Hooti,

That's a great post. Thank you. Love the LBR clip.



Not tracking the PnL is interesting.

jas

Thanks -- we are both working diligently. Certainly appreciate your efforts and stick-to-it. I do believe this is a lifestyle. It changes us in ways hard to explain to others.

The thing with LBR... it was a peculiar feeling to dissociate my entry from my trade management. Always before my trade management referenced my entry. To think of having trade management rules that are simple enough and clear enough to stand on their own independent of the entry... that was like whoa... an unexpected experience. If I can approach break-even doing this, much less have positive expectancy, it goes to being able to trust myself in the market. Which for me was a change.

Not cking the points gained or lost until the weekend is a trust thing also. We say our plan is fine as is. Do we trust it or not? This is one logical way to prove that. But that is not why I would try it. At this point I would say the biggest shift I've made in my trading so far came when I made so I could not reference points gained or lost ... coupled with adding some extra cash to my account so I wasn't worried about it. It took two days and the emotional swings in my trading basically stopped; and steps to be much more professional became obvious. A lot of good things happened after that.

I have a ways to go yet. But that was the biggest shift for me. Don't know if it will be that big for you. Hope it is an interesting experience regardless... All the best.

 

[Redneck]

Trading is not just a job; it's a lifestyle; IMO. Wondering if others agree with this last statement.

Trading does change a feller

I do believe this is a lifestyle.

It changes us in ways hard to explain to others.

Yes Sir Ree Bob

Confounds the hell out of my Lovely Better Half..., and Kids -

RN

 

[Handle123]

Trading does change a feller

Yes Sir Ree Bob

Confounds the hell out of my Lovely Better Half..., and Kids -

RN

I totally agree, I started introverted nice guy with much patience, married. Many years later, raving lunatic, short on patience like losses, go through girlfriends like scalping, and many say am A-hole, all very true as I see it. 99.5% of the world have no clue what it is like, nor do they care, can't even explain what I do, have to sit at dinners while others tell me what the economy is doing or what a stock I should buy, I just sit there behaving. It is often better to act dumber than people you are having dinner than to start a can of worms and they will forever call and ask to look at their holdings every month, yea like I have time for that.

 

[weasel2]

I totally agree, I started introverted nice guy with much patience, married. Many years later, raving lunatic, short on patience like losses, go through girlfriends like scalping, and many say am A-hole, all very true as I see it. 99.5% of the world have no clue what it is like, nor do they care, can't even explain what I do, have to sit at dinners while others tell me what the economy is doing or what a stock I should buy, I just sit there behaving. It is often better to act dumber than people you are having dinner than to start a can of worms and they will forever call and ask to look at their holdings every month, yea like I have time for that.[/QUOTE

HA HA...Raving lunatic thats what my wife called me about 9 years ago. Then I took a break from trading.

 

[Handle123]

HA HA...Raving lunatic thats what my wife called me about 9 years ago. Then I took a break from trading.

Gals I date look at me often like I am from Mars, I just don't see what they see as huge problems in life or if someone was to try to insult me for what I do for a living, I laugh it off, of course they have to work and I don't helps greatly, yep, standing on corner with my tin cup and sign saying Sell Delta Airlines Short!!! My humor is strange and yet it is often the same of other traders, and humor is almost always of someone's race, creed, what they look like or pain, it is like Roadrunner cartoon, beep beep.

 

[Redneck]

I totally agree, I started introverted nice guy with much patience, married. Many years later, raving lunatic, short on patience like losses, go through girlfriends like scalping, and many say am A-hole, all very true as I see it. 99.5% of the world have no clue what it is like, nor do they care, can't even explain what I do, have to sit at dinners while others tell me what the economy is doing or what a stock I should buy, I just sit there behaving. It is often better to act dumber than people you are having dinner than to start a can of worms and they will forever call and ask to look at their holdings every month, yea like I have time for that.

LOL

I too can turn asshole in a blink of an eye…, and have absolutely no tolerance for stupid.., or lazy

My current mantra; I am fed up compensating for your stupid / lazy ass

(btw you ever see a bumper sticker with the above on it – flag me down and say hi)

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

I’ve gotten to where.., when amongst other people – I also keep my shut my mouth…, mostly I’ll just sit there and listen

The three conversations I enjoy the most;


Shorting is extremely dangerous.., it has unlimited risk…, along with the occasional – its un-American to short – thrown in for good measure

Then there’s the;

Here’s a tip…, so and so – (a so called pundit mind you) – said XYZ stock is going to do this

And the ever popular;

Mkt did this / is going to do this.., because of that


I just politely sit there smiling and nodding during their entire spiel…, thinking to myself…

You poor dumb bastards – if you only knew

But what the hay…, their money spends just as well as anyone else’s


My Better Half has gotten to where she can recognize that look I get – makes her laugh

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

My real friends – long as I show up on time for dominos…, hunting.., fishing…, or the BBQ…, and bring beer when it’s my turn – they couldn’t give a crap

I’m extremely fortunate to have them

beep..., beep

RN

 

[jas_in_hbca]

Traded well. Narrow range and choppy for good part of day which I avoided pretty well. Valid trades just not working today. Not looking at PnL per Hooti's suggestion but it was a loss today.

 

[jas_in_hbca]

Solid day of focus and patience. Executed very well. Had a few small losses to start day but all where valid trades. Then a nice trend developed and my trade went to target (15 , didn't move it). Got a PB then another entry to target, another PB and another target. That's big for me. Didn't move my targets and I kept taking valid trades. Used to be a time I'd overthink and hesitate and not take all the trades. Keeping the targets was especially good too.

After a longer consolidation/ pullback took another entry and immediately saw the potential for a larger move (no nearby overhead resistance). I decided to increase target which I allow myself to do if I'm trading well (following plan), up on day and the set up warrants it. I was also ready to exit at any sign of weakness near my original target. Maybe that's a bit subjective or I'm rationalizing but it fits with my trader personality. Got +40 on that trade.

There were some losses and one mistake on an exit. I have an approximate idea of where I finished but not looking at PnL. It was a pretty good day.

What's amazing is how easy and stress free it is when the market offers opportunities. Taking the 15 tick target exits really helps with the stress too. Certainly, the majority of my trades should be target exits and only very occasionally should I move it.

A lot of the executions were pretty automatic. Not much thinking. Mostly my job is, and I have to remind myself this, is to monitor myself and my ability to stay focus and patient and to take breaks when I'm not.

 

[Handle123]

Congrats Jas,

My trader personality is to concentrate on not losing, I am tight with the buck in other words. Day trading has become much tougher to keep it cause of so many, including me, doing program trading. I am just happy to be a grinder of smaller profits and 75 minutes max.

Don't let the fine day you had be there tomorrow, it is a new day and FOMC coming out Wednesday? Gonna be a wild time. Maybe breakout to new highs? I still see this market going up far greater than going down. Dems going to be pumping money in till election.

 

[Chuck Krug]

Ah, this is where all the good traders hang out
Jas: regarding your fixed targets. saw this linda raschke video yesterday where her tests show that a fixed target works best 75% of the case.