jasinhbca's quest for discipline, knowledge & profits

[Redneck]

NoD's apparently done it, you've done it... it is the way Susana starts her thread "after 4 years of losing I (basically threw out a bunch of stuff and started over)." I guess for many it's just the way it works.

As have I..., multiple times (like 4) - each time in an effort to distill / simplify further

RN

 

[jas_in_hbca]

So what I'm offering as one possible choice for J...
Where Handle suggested taking 2 -3 months off. Don't go on vacation. Go back to school for perhaps 2-3 months. Take a few days and make up a curriculum. Then go back as a beginning student and work your way through it. Don't be in a hurry. Change and improve the curriculum as you go because you are the teacher also.

I think NoD said she did something like this when she turned her trading around. I mention her because if I remember right she took about that much time. She may have described it in different words. It is just a way of thinking about it. But it may provide a framework that gives you a reason to do somethings differently, from a different POV, ...a different intent almost. If what you have been doing hasn't worked, try a different approach. Eventually you have to make it your own, especially with trading.

Is the pain great enough that a change and this much time is worth it?
Only J can answer that, and this is just one opportunity to chose from. Maybe there is just some little shift he needs to make.

The little shift is getting my ego out of my trading for one. Being overly analytical is getting me too wrapped up trying to be right or trying not to be wrong. Working on that and trying to be more patient so I'm only taking very clear entries. Less analysis while trading.

 

[jas_in_hbca]

Wow. Thank you for sharing that.

NoD's apparently done it, you've done it... it is the way Susana starts her thread "after 4 years of losing I (basically threw out a bunch of stuff and started over)." I guess for many it's just the way it works.

Reminds me of one of the better quotes ever on ET:


"From Successful Anonymous Trader:

You simply cannot have any confidence if you do not have a method or way of identifying trades along with money management guidelines. You're lost in the woods, so to speak. I was there for many years. What did I do? This may help a lot of you:

I
t h r e w
o u t
99%
o f
a l l
t h e
c r a p
I
l e a r n e d
...about oscillators, divergences, Elliott Wave, cycles, timing, seasonals, Gann, pitchforks, volume, Fractals, RSI, stochastics, overbought/oversold (this is a good one--the stock indexes, currencies and cotton for example everyone said were overbought and topping in February and March this year). Look at what they did. Needless to say, I don't pay any attention to this anymore either, etc., etc. The list goes on to infinity almost. I went back to the basics. I went back to simple chart patterns, (a simple moving average and trendline now and then for a visual aid.)

I came up with a low risk money management plan and put it together with trading with the trend and, presto, an effective and time tested trading plan. The plan is simple and has worked since trading began and will last me a lifetime. What a relief not to have to spend countless hours every night trying to find a new way to trade. I am sick and tired of that after 7-years.

I believe at becoming an expert at one stock or market and its behavior and then putting all your skills and energy to work in a concentrated manner. Get good at that market and trade the heck out of it. Increase your size over time and you'll make more money with less effort. There are lots of professionals that do this. Look at some floor traders or locals that stay in the pit for many years trading one market exclusively.

One thing that I have learned this year, is that I am trying to cut back on the number of trades I take and be more selective and not trade in congestion as much as I did before. I miss some good trades out of congestion, but I save myself a lot of mental energy, buy myself some more free time during the day, and get better and more profitable trades.

My attitude is changing now to one or two good trades, and that is all I need to make my week ( a triple or a home run, so to speak). There are plenty of them during any given week.

Trading is fun. Once you have a method and money management in place, it allows you to concentrate on trading and not on searching and researching. That gets old and frustrating. Make it your goal to find a simple method for next year. One thing that you can hang your hat on will last you a lifetime. Trading is simple. Remember that it's the Execution or Implementation of your trading plan that is the bigger challenge.

Most people make finding the method a big challenge. That is because there is so much junk thrown at traders. They feel like a child in a candy store and have to try every doodad in the place. When they are done, they are sick and never want to see another candy store (trading gizmo) again. They could have had the plain piece of milk chocolate at the front of the store (simple method price patterns) which would have done everything they desired and fulfilled all their needs.

I wish to all a great new year. I hope some will be able to end their journey in search of the holy grail or indicator that will turn their life around. Search for simplicity. You will be surprised what has been right under your nose all the time, right there in front of you on the chart or price bars. Pay attention to what they say...they will tell you everything. You need to listen and get to know them. It can be that simple. "

......
J, you are not alone.

Thanks Hooti. I haven't seen that post before. It's encouraging. The 7 years at least makes me feel like i'm not a total loser. I'm reviewing a lot of things including my basic Theory of Markets. Trying to simplify (throw out) some of my beliefs on PA that are not fitting with reality.

 

[Redneck]

Another day... and week.., in the books (yesterday was a new daily high for me - made my jaw drop when I finally looked at the PNL..., damn - oh well.., didn't matter today..., won't matter next week)



Happy Weekend All!!!!!

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

J

Removing yourself will allow you to focus more on price

Focusing more on price - it becomes a whole heck of a lot clearer.., and simpler - all of it


Stay Frosty My Friends

RN

 

[Handle123]

The little shift is getting my ego out of my trading for one. Being overly analytical is getting me too wrapped up trying to be right or trying not to be wrong. Working on that and trying to be more patient so I'm only taking very clear entries. Less analysis while trading.

This works for me, if I have to "think" whether it is a signal, it is not a signal, that chart should jump out at you like a "2 by 4 to your face" jump, otherwise you forcing a signal that is iffy, you don't want iffy, and then watching what you could have made pisses you off, so what? It wasn't right, it wasn't right, so what? Just wait .....you only need one. Get a hobby that shows your ego, go play crap, I mean golf. Golf so much like trading in the beginning.

 

[jas_in_hbca]

Another day... and week.., in the books (yesterday was a new daily high for me - made my jaw drop when I finally looked at the PNL..., damn - oh well.., didn't matter today..., won't matter next week)



Happy Weekend All!!!!!

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

J

Removing yourself will allow you to focus more on price

Focusing more on price - it becomes a whole heck of a lot clearer.., and simpler - all of it


Stay Frosty My Friends

RN

Congrats on a great week !! Have a great weekend.

jas

 

[jas_in_hbca]

This works for me, if I have to "think" whether it is a signal, it is not a signal, that chart should jump out at you like a "2 by 4 to your face" jump, otherwise you forcing a signal that is iffy, you don't want iffy, and then watching what you could have made pisses you off, so what? It wasn't right, it wasn't right, so what? Just wait .....you only need one. Get a hobby that shows your ego, go play crap, I mean golf. Golf so much like trading in the beginning.

The obvious signals are great except when they're so obvious I think 'well that's too easy that can't work' I pass and of course they work. Not so much of that anymore.

 

[jas_in_hbca]

way OT..

Taking a break cause it was time and CL in a range. I'm practicing some Spanish using an online app. Do this on my kindle too. Today it congratulates me and tells me I'm 1% fluent in Spanish.

Solamente uno ! Ay caramba !

 

[Redneck]

Solamente uno ! Ay caramba !

Uno de ellos es un comienzo ..., estar orgulloso

Cuando usted se convierte en fluidez, podemos contrario es español y confundamos a la mierda de todo el mundo

Es bueno ejercitar la otra mitad del cerebro de un solo

el diablo aka RN

 

[jas_in_hbca]

Uno de ellos es un comienzo ..., estar orgulloso

Cuando usted se convierte en fluidez, podemos contrario es español y confundamos a la mierda de todo el mundo

Es bueno ejercitar la otra mitad del cerebro de un solo

el diablo aka RN

R.E.V.A. !

Muy impresionante, el Diablo.

Yo necesito google translate solamente para un pocos palabras pero necesito estudiar mucho mas con el CD's en mi auto.

Y si' es bueno para el cerebro