jasinhbca's quest for discipline, knowledge & profits

Quote from jas_in_hbca:

Correct me if i'm wrong but I believe you've said before that trading is nearly all psychological and a small part methodology.

I think I've been proving that to be true.
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I maintain ~ 3-5% skills.., ~ 95-97% psychological

And I could easily argue one’s skills acumen is tired directly to one’s psychological soundness

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Our approach / methodology/ plan – however – must all be followed/ executed near to 100% as we’re able

(its the only way to bring a modicum of certainty – to an uncertain environment )

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We all do at some point or other - or we go do something else

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Quote from jas_in_hbca:

It kind of goes with the job.
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No Sir..., mistakes go with being human – regardless what a person is pursuing




You're Very Welcome Sir

Remember to always show up with yer "A" Game :)

RN
 
Overall, I had difficult time finding set ups this past week. Lot's of chop and the few good trades I missed .

-44 ticks this week.

Out of the 14 weeks I've traded this year this is the third weekly loss. Also the biggest.

Thoughts going through my head:
* This is tough work. Will I be able to generate enough income doing this within my goal of 2 more years ?
* -44 ticks is only 1 good trade.
* Is CL becoming what NQ was for me. Where's the easy $$ ? :D
* Nevermind the PnL. Was I taking my trades and was I focused ?

The last one is the important one. My trades are mostly discretionary where context is key. A reversal pattern, for me, is a valid set up after an extended move or as sign of continuation in a trend. In chop it's noise and not to be taken. Today , where the bulk of my losses came from, I saw the gap up and thought there was a good chance for volatility. Instead, the day was another of chop with enough clues to indicate that. Some of the trades I should not have taken.
And as I said, I did miss a few trades earlier in the week.

So bottom line i'm not going to be overly concerned about the weeks loss and will continue to do what I do. Which includes plenty of trade and market review and answering the question of why did I miss 'this' trade.
 
Been busy last several days. Quick update. -21 ticks last week. Not a lot of trades taken. Just not seeing good set ups. Friday did not trade-college roommate in town. Beers and margs at the beach.

ES is getting my interest but not switching yet.

gotta run. Good trading next week all.
 
I need a mid-week vent.

I'm trading scared. Maybe i'm trying too hard. My mood was admittedly tense after hesitating and missing the first trade.

I did not give trades enough time. Frustrating because I 've been here before and thought I had moved past it. How many times do I have to re-learn what I know I should be doing ?

In review I almost have to laugh. These are not bad entries and are the entries my plan says to take. But, man, those exits. Why was I so tense and jumpy ?

I mention this all to document my path to becoming a trader. It helps me to vent and maybe it will help someone else. Simply, there are setbacks. Don't beat yourself up over them.

I have not videotaped myself trading but think I may give that a try. I'm a couple weeks into a traders psych course as stated previously. Hopefully, that will kick in soon. :) Actually expect it will take a while.

Today was not a blow up day by any means other than a failure of me to trade properly.

PS a few more trades taken today not shown.
 

Attachments

JIH,

We've all gotten scared a time or two... step back…., relax…, regroup

Give thought to taking a break – mkt will be here

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BTW;

Don't forget to keep an eye on the bigger picture Sir



Now what's that old saying... oh yeah....

If it is to be... it is up to me (you) :)

Slow and steady.... slow and steady

RN
 
Thanks for the encouragement RN.

I'm actually going on vacation next week. I do think a break will help.

Slow and steady is about my max. speed. But those darn hills where I start rolling in reverse sure get my attention. :)


Quote from Redneck:

JIH,

We've all gotten scared a time or two... step back…., relax…, regroup

Give thought to taking a break – mkt will be here

===========
BTW;

Don't forget to keep an eye on the bigger picture Sir



Now what's that old saying... oh yeah....

If it is to be... it is up to me (you) :)

Slow and steady.... slow and steady

RN
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