jasinhbca's quest for discipline, knowledge & profits

I remember that thread. Oh, how time flies.

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Looking forward to trading tomorrow with patience.

I will take more valid trades and accept risk(stop placement). I will be patient with trades that are working.
 
I think I still have confidence issues in me and my method. Improving slowly. Still having days where the method is outperforming me. I wrote down on my daily reminder worksheet "Consistency creates confidence".
It really does. Consistency of my actions will allow me to trust the method and trust me to follow it.
I'm still managing trades in my comfort zone. Need to break out of that habit and allow the trades time and room to work per the plan.

I did come in a bit tentative because we're approaching rollover day which can lead to some choppiness.

I need to read my daily reminders more than once before the session and review after each break I take.

it wasn't a terrible day for my discipline but I expect and need to perform much better.

+ 9 ticks today
 
Suggestion; Create an audio affirmation addressing the "confidence" aspects - then listen to it while trading

I happen know someone who can help create one - if you like :)

RN
 
Today I started writing down affirmations. Didn't include confidence though. I'll get back to you on the audio, thanks.

I will also be having a Q & A session with myself and try to drill down to why I believe I should be exiting trades early. Trade goes + 16 then retraces and I exit + 3 to just 'get something'. Then price immediately drops to my target. My actual rule is if trade goes + 15 then move stop to BE+1. Why is that hard to follow ? I will be going over that.

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Got some non-trading work I need to get done.
 
Shutting down early. Lost some focus and it got quite volatile. Plus I had a pretty good day for me.

My discipline is generally better when the first trade goes to target.

Today only 5 trades. 4 were traded per plan , 1 was not per plan when I exited before my target for + 16 instead of holding for +20

My second trade had a target of 25 , went +21 then to BE. I believe that influenced my early +16 exit on the next trade. I'm still trading a bit emotionally i guess.

The fourth trade went to target +20 then continued to run 100 ticks. Oh, well. I was just happy to follow my plan.

Last trade , nice set up but loss.

I'm making a conscious effort to push away from the desk after trade is entered and stop is adjusted. Hand off mouse and back up. I think that definitely helped keep me in one trade.

Willpower fatigue. Willpower is an exhaustible resource. The more we use our willpower, the harder it becomes to maintain willpower.

On the +16 I was focused on not exiting early when trade did nothing immediately after entry. I thought about exiting but held. Then it moved , stalled before target and maybe my willpower was exhausted so I exited.

I figure as I continue to create the habits and consistency of proper actions it will require less willpower. IDK, just thinking out loud.

Anyway, it was good day. Move away from the desk !

+45 ticks
 
jas_in_hbca said:
Shutting down early. Lost some focus and it got quite volatile. Plus I had a pretty good day for me.

My discipline is generally better when the first trade goes to target.

Today only 5 trades. 4 were traded per plan , 1 was not per plan when I exited before my target for + 16 instead of holding for +20

My second trade had a target of 25 , went +21 then to BE. I believe that influenced my early +16 exit on the next trade. I'm still trading a bit emotionally i guess.

The fourth trade went to target +20 then continued to run 100 ticks. Oh, well. I was just happy to follow my plan.

Last trade , nice set up but loss.

I'm making a conscious effort to push away from the desk after trade is entered and stop is adjusted. Hand off mouse and back up. I think that definitely helped keep me in one trade.

Willpower fatigue. Willpower is an exhaustible resource. The more we use our willpower, the harder it becomes to maintain willpower.

On the +16 I was focused on not exiting early when trade did nothing immediately after entry. I thought about exiting but held. Then it moved , stalled before target and maybe my willpower was exhausted so I exited.

I figure as I continue to create the habits and consistency of proper actions it will require less willpower. IDK, just thinking out loud.

Anyway, it was good day. Move away from the desk !

+45 ticks
More...
Great job jas. Keep it up.

-JS
 
You...,

Monitored and managed yourself

Remained objective & detached

Stayed patient

Preserved your emotional capital (our most precious capital)

Remained in control

Followed the routine / managed each trade

* the 1 trade you exited @ 16..., instead or 20 - easy to hindsight it..., and I think you are

Day trading - we make real time decisions - quickly..., and repeatedly - without knowing what's coming next

It the nature of the beast

Do what you do..., be okay with it..., drop it..., move on

This business will eat you alive on the inside if you don't / can't

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

Granted...,you broke the plan and exited early - learn and change that (assume doing so will take time..., and small steps - because it will)

But also celebrate the victories - today there were many



Wasn't long ago the consistency you're demonstrating was but a dream - so things could be a lot worse :)



Good Job J

RN
 
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