jasinhbca's quest for discipline, knowledge & profits

Quote from jas_in_hbca:

It was a bit disturbing to wonder how much of myself I would have to give up in order to make it.
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That’s just it…. you will change… and you will give up / change – as much of you – as is necessary

Else you’ll end up quitting…

Or being here X number of years from now – posting how you exited too early.., missed set ups… almost have it… blah... f’n blah… f’n blah

Or even more pathetic – start bitching about how trading can’t be done

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Like H1 said; its business

Which means…, while trading;

Our thoughts/ fears/ whatever – there is no place for it

Concern for other – no place for it

Anything & everything – not specifically related to protecting our capital / making money – no place for it

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I’m likely not doing justice trying to explain it… but the end result is identical

Sometimes I describe it as;

Being totally at peace and in sync with price

Being objective/ detached – and simply trading what your see

Protecting capital first / making money second

Being a single minded stingy bastard

Get to a place where nothing matters

Building a wall and keeping your personal crap behind it while trading

Sticking my opinion / ego up my ass and doing exactly as I’m told

Sticking my head up price’s ass and following where ever it leads

One must be in control of their emotions and always act in their own best interest

Its business…, treat it as such

PA is a story, read it and play follow the leader

Be childlike, with open honest eyes and trust price where ever it leads

Price and my PNL are the only places I’ve found where 100% honesty is present 100% of the time

And there’s a bunch of other descriptions I've used

Just realize this;

Dependent solely on one’s POV – is how one will interpret the above descriptions (either they resonate.., or come off as BS / over the top) – when in fact – they all describe the same exact behavior necessary to trade successfully


Gotta shut off the crap coming from inside you/ your head

Gotta focus on price

Gotta read price

Gotta follow price

Gotta exploit set ups when they appear

Gotta protect your ass

And we do this to every other trader’s determent / peril / failure / loss

It’s only business
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Damn I talk a lot… anyway back to my main point


I dare say no other person’s opinion matters more to you – than your own… but when trading – your opinion means shit.., as does mine…, as does any trader's

To get to a point where you’re able to cease listening to yourself…. (able to detach so you can remain objective) you will also get to a point where no one else’s opinion matters

Family’s.., friend’s…, acquaintance’s – no one’s / anyone’s/ everyone’s

Same for feelings…, same for emotions

But…, once you’re able to control these – so then can you decide when…, where..., and how – to employee this control

(an interesting byproduct I discovered – you’ll cease being prone to being manipulated by anything/ anyone)


Yes, trading will change you

Yes, you need to change

Yes, you will change

Or you will remain exactly where you are now

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Trading should contain a warning label;

As you embark on this sorted journey; be prepared to adapt.., or die

Just some random thoughts JIH…, in a little less than 4 hours none of it will matter anyhow

RN
 
RN,

You've pretty much spelled it out exactly where I need to be. It's very helpful.

I'm not sure how i'll get there but I know where i'm headed. Thus far every small amount of progress I've made has come from finding my weaknesses (method errors) and working on eliminating or at least reducing them.

Mentally my weaknesses are : afraid of giving back profits, fail to believe price can move as far as it ends up moving and losing focus. Focus , i'm thinking will improve if I take a more meaningful break mid-session. Fortunately, I think focus is my smallest issue. The others I suppose I need to man up and just trade and at the same time have compassion when I stumble.

You lost me on the; in 4 hours it won't matter.
 
Quote from jas_in_hbca:

RN,

You lost me on the; in 4 hours it won't matter.
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I believe he means that the market will be closed in 4 hours but more importantly you need to keep trading in its proper place. Take a break, clear your mind, get exercise.
 
Quote from jas_in_hbca:

RN,

You've pretty much spelled it out exactly where I need to be. It's very helpful.

I'm not sure how i'll get there but I know where i'm headed. Thus far every small amount of progress I've made has come from finding my weaknesses (method errors) and working on eliminating or at least reducing them.

Mentally my weaknesses are : afraid of giving back profits, fail to believe price can move as far as it ends up moving and losing focus. Focus , i'm thinking will improve if I take a more meaningful break mid-session. Fortunately, I think focus is my smallest issue. The others I suppose I need to man up and just trade and at the same time have compassion when I stumble.

You lost me on the; in 4 hours it won't matter.
More...


“man-ing up” won’t work – you’re touching your very core now

Our default way of being will always revert back to our subconscious

Change it, you've then changed your behavior for good


Courtesy of OP007 (he’s good people)


Quote from Optionpro007:

I would also like to add that if a person has stuff in the subconscious mind that goes against his/hers conscious interest, there is absolutely nothing in the world that can be done to win consistently,

Until the issue(s) are resolved, i.e. the sub is reprogrammed....the sub will always win.
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I wrote that little ditty at 4:30-ish this morning..., mkt would be opening in a little less than 4 hrs - so my thoughts then would mean squat

RN
 
Thanks, tonkadad for the reply the other day.

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Last week turned out to be the best week this year. +111 ticks and profitable every day. Only took 6 trades.

But this is not a case of less trading equals better results. It was less trades because of being too cautious after booking profits. There were a lot of opportunities last week that I failed to act on. Yesterday alone should have been a +100 day, IMO.

So going forward i'll finish Trading in the Zone and work through his ideas and work with the material in the psych course I took recently.

I've been reading Redneck's and Handle's recent posts daily and find that helps me . Thanks, guys !

I am very happy to have a nicely profitable week and it's a great confidence boost but still lot's of room for improvement.
 
Quote from Redneck:

Sweet...., keep on truckin


RN
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Thanks, RN.


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Monday did not trade. + 21 ticks for the week, $ 157.

Yesterday I was disappointed it wasn't more of a gain but in review I traded pretty much the way I want and should be. There was plenty of chop I did a good job of avoiding. Exits were pretty good. Certainly I can look back and see a couple trades I should have entered sooner and one trade were I overlooked the round number exit that would have added 13 ticks. Oh well.

For the month + 88 ticks ; $ 606
Considering the bad end of July /first week of Aug. I had and the subsequent max. drawdown of 79 ticks for the month, I'm OK with how it turned out.

One of the things that helped the turn around was my taking reasonable profits rather than holding too long. Also, noting the trades I thought about taking and missed actually helped my confidence. The posts by Redneck (and Handle) confirmed and clarified my thinking, gave me more to think about and pushed me in the direction I need to be going in now; which is having the right mindset and focus everyday.

Going forward I'll get back to my daily 'grade the day' review which i stopped doing a couple weeks ago. It's a simple subjective review of how well I maintained focus, were trades in my plan, how many trades did I miss and were exits within my plan. (re: individual trade review I always review and print charts and log all trades taken)

I'm ready for a break out month in my trading. I've eliminated , well reduced as best as possible, the mistakes that were most costly to me. Those being; trading when not fully rested or focused. This took me awhile to be able to recognize in real time . It's a fine line between recognizing "am I tired ?, no i'm OK " and "i'm a little tired, don't trade".

I'm better at avoiding chop and I'm not taking counter trend trades too soon. With those improvements I have more confidence in myself and my methods. So I should be able to continue trading profitably while I work on improving my discipline and mindset. (I didn't just jinx myself did I ?)

How will I improve my mental game ? Not exactly sure yet. Being aware of my weaknesses and maintaining a calm state of mind and focus is what i'm currently working on.
 
Quote from jas_in_hbca:

How will I improve my mental game ? Not exactly sure yet.
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Hey JIH

I see you’re tryin to bullshit a bullshitter :D


You know how…, already have…, and even stated such....


So how about allowing a dumbass redneck to spell it out and show ya

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Three perfect examples;


Quote from jas_in_hbca:

1.) - One of the things that helped the turn around was my taking reasonable profits rather than holding too long.

Also, noting the trades I thought about taking and missed actually helped my confidence.

2.) - trading when not fully rested or focused.

This took me awhile to be able to recognize in real time . It's a fine line between recognizing "am I tired ?, no i'm OK " and "i'm a little tired, don't trade".

3.) - I'm better at avoiding chop and I'm not taking counter trend trades too soon.
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The steps are always;

Identify
Accept
Resolve
On to the next one



With each resolve comes improvement – with each improvement comes confidence

Nothing better for our ole mental than confidence Sir


And the more you run through the steps…, the easier it gets - at a point it even ceases being about us – and becomes solely about what it takes to make money

As it should – it is only business after all

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Much respect :)

RN
 
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