jasinhbca's quest for discipline, knowledge & profits

jas_in_hbca said:
Note to self:

When I am unsure

It means there are no valid trades.

My knowledge is good enough

I WILL RECOGNIZE THEM WHEN THEY SHOW UP.
More...


hate verbose


There is another option;

Make shit up and shoot from the hip

Doesn't do anything for consistency... but will alleviate boredom / mindless thoughts


btw - being unsure..., on a regular basis..., happens to us all - why sitting on hands was invented


RN
 
-39 to -6 to -22. Shutting down now. Too many mistakes. Paying too much attention to PnL and cutting winners short trying to get green. Yes, I know how ridiculous that is. Held 1 to target and cut several short.

The stats I'm keeping now are my results vs. trading plan results. That is, the same trades but me vs. proper management. I believe the trading plan kicked my butt as far as performance today. So with the extra time i'll review todays trades and see about getting the last 2 weeks data into excel.

First hour chop resulted in a mix of trades that just didn't work and a couple forced trades. Mentally all over the place today: frustration, regret, calmness, pride.

It was a break down in consistency and maybe confidence. And yet seeing what could have been it does give me more confidence to just stick with the plan.

It's so much easier to trade well when the first trade of the day is a winner. Today was a test I did not pass. Next time I will.
 
jas_in_hbca said:
Paying too much attention to PnL and cutting winners short trying to get green.


Yes, I know how ridiculous that is.
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I'll tell ya exactly how ridiculous - it's what's been holding you in the loop of perpetuating the same damn behavior

It not one bit ridiculous - it a serious..., significant..., hurtle that needs resolved immediately

And once you've had your fill - it will be I suspect


RN
 
After mulling your last two post over a bit - here's what i come up with for today

Your head wasn't cleared..., nor your view - simple

Mind full of thoughts (useless ones at that)


Yea or nay

RN
 
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I think that's pretty accurate. I wasn't as focused as I'd like initially. Lethargic. Eventually after a short break I had better focus and was taking proper entries. But still fell back to old ways of just grabbing profit on first sign of weakness.

I'm thinking push ups or deep breathing to shake the body/mind into a better state maybe. I have to remember to do self -talk out loud.

I do see the problem from a slightly different perspective. that is I know I can let go and I know it works when I do. I think I need to be focused and in tune with the market in order to let go. Not sure. I know I'm close.
 
It does take a good amount of concerted focus

I can also see - how being focused on the mkt - one let's go..., (gets cued in on the mkt - suspends extraneous thinking)..., and simply follows along with what they're being told / how they're being directed (by PA)


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

So my Good Fellow

Tomorrow - it another new day

We repeat Mon / Tue / Wed..., w/ concerted focus

And set today aside

Get some good rest..., and clear the ole noggin

RN
 
We are human - screw ups happen

It is not whether we have them - but how we recover from each - that reflects what we're made of

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

Okay - we know creating and following each plan - is proper trading

Nothing fancy today - keep it simple - don't fuck with it once established - allow each to come to fruition - to hell with the results

Get focused adequately - so you let go - and allow the mkt to carry you off




Let's do our job..., so this weekend we have something good to reflect on..., and build on



This loop "D" loop thing is damn old..., it is also harkening me back to mine (and that gives me shivers - seriously)

RN
 
I'm trying to look at this objectively. I think I did OK today.

First trade went quickly to target in 2 minutes so I was only moderately tested.

Next two trades failed to move past resistance quickly. One was a reversal trade and the other a PB after an extended up move. So I wasn't willing to give them much time. BE & -1. Those were traded pretty much per the guidelines I currently have. I want quick MFE and levels being taken out.

I'm also testing and tracking fixed stop; less Thinking while trading. That would have resulted in + 25 & maybe 10-15 on the last two trades.

So did I screw up today ? I don't think so. But there may be some adjustments I need to make. oh and all trades were valid in plan trades.

If I'm deluding myself here RN, please, and I'm sure you will :) let me know.

===

The goal this week was to not increase any of my targets. I did that and I'm very happy with myself and the results.

On letting go. baby steps but some progress. (put the trade on. now take your hand off the mouse !)

I am not yet thinking like the trader I would like to be. There are more trades I should be taking. I believe it's Prospect theory that states we become more risk averse as we make money and more risk seeking as we lose it. Knowing that is interesting but doesn't help me keep taking the trades (after booking profits). Probability mindset and letting go of the PnL is where I need to get to.

I'm reading Douglas again.

===

Next week again no increasing targets and only decrease based on S/R. No going for 'easy' wins.

Practice letting go in the trade. Be aware of my reactions and emotions. relax.

Try to take more valid trades.
 
jas_in_hbca said:
Next two trades failed to move past resistance quickly. One was a reversal trade and the other a PB after an extended up move. So I wasn't willing to give them much time. BE & -1. Those were traded pretty much per the guidelines I currently have. I want quick MFE and levels being taken out.

I'm also testing and tracking fixed stop; less Thinking while trading. That would have resulted in + 25 & maybe 10-15 on the last two trades.
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We all want quick favorable excursion, but may excellent trades consolidate for a while before moving. There's nothing at all in my trading plan about how fast price gets to my target zone. There are, however, rules about trying to get out of a trade at break even if a conflicting signal appears in which I should be looking to position the other direction.

When you did/do your statistical analyses, does the speed with which price does what you want it to do play into the trade management? If so, then you traded well. If not, then you traded poorly. IMHO.
 
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