Thanks RN & Slugar.
Will be rested and ready tomorrow. Patience, patience , focus. Deep breath, move away from desk.
Will be rested and ready tomorrow. Patience, patience , focus. Deep breath, move away from desk.
jasinhbca's quest for discipline, knowledge & profits
- Thread starter jas_in_hbca
- Start date
I don't know if CL is just easier to trade or if I'm finally just getting the hang of this trading thing. Either way nice to be green again.
Only 3 trades today. Volatility was a bit much. 200 tick move in 5 minutes !!
Waited to trade until after Inv #'s then started seeing 40+ legs. Waited for a consolidation and before entering decided I would increase my target based on current volatility and exit on first sign of weakness. Good in theory but MFE +28 then retrace and exit +16. Followed plan but it wasn't a good plan.
So back to going for base hits from now on; 20- 25.
Next trade -10. Trade immediately reversed. Tight stop given volatility. No time to move it but just as well cause based on structure would have been too big for me to take.
One more trade, lowered target to +20 and got it.
+26 today
No mistakes however lot's of room for improvement. Need to keep the 25 targets. Both the wins got there. In general, I need to take more trades. Today OK to quit early based on volatility but there are days where there are more valid trades I could be taking. Still in the honeymoon phase of enjoying consistent profits. And having said that I wonder, can I keep doing this ? I think so although I do certainly expect some losing days but then also maybe I can get some better winning days.
Patience & focus. One day at a time.
Only 3 trades today. Volatility was a bit much. 200 tick move in 5 minutes !!
Waited to trade until after Inv #'s then started seeing 40+ legs. Waited for a consolidation and before entering decided I would increase my target based on current volatility and exit on first sign of weakness. Good in theory but MFE +28 then retrace and exit +16. Followed plan but it wasn't a good plan.
So back to going for base hits from now on; 20- 25.
Next trade -10. Trade immediately reversed. Tight stop given volatility. No time to move it but just as well cause based on structure would have been too big for me to take.
One more trade, lowered target to +20 and got it.
+26 today
No mistakes however lot's of room for improvement. Need to keep the 25 targets. Both the wins got there. In general, I need to take more trades. Today OK to quit early based on volatility but there are days where there are more valid trades I could be taking. Still in the honeymoon phase of enjoying consistent profits. And having said that I wonder, can I keep doing this ? I think so although I do certainly expect some losing days but then also maybe I can get some better winning days.
Patience & focus. One day at a time.
Attachments
There exists a semi fine line between pragmatic..., and pessimistic
You tend to lean to the pessimistic
It is your trading ability
Granted CL may fit with your personality more so than NQ - but you're still the trader calling all the shots
Doubted when you couldn't..., now that you are - still doubting
You confound me at times J
What you need to do - is accurately assess the PA environment real time - and trade it thusly
Also..., what you need to do is stop hind sighting
And enamored with the fucking PnL
Till you get past it - you're chained to it..., controlled by it - all the way
Yup - bitch chained to it
On another note; This thinking is a red flag - I know because I've had the same thought - then proceed to lose my ass
I suggest to take a break - regroup / re-center - then pick back up
This is the key.... and when you get here..., PnL won't come into play
There is light at the end of the tunnel - and it's mounted on a train - headed your way
Step off the track for a bit and allow it to pass
=================
Not my intention to be negative..., or an ass
Rather you learn from the shit I went through - and not have to experience it
Good Job today.., so take a couple of day break..., regroup..., reflect..., get re-centered
It is truly one day at a time..., and each day unique
Losing trades will happen - only reason for a losing day is because we make it so (sounds egotistical - but it not meant to be in any way..., shape..., or form)
We must simply do our job - every trade..., every day - with absolutely no expectation one way or the other
And with absolutely no deviation to the routine
train's coming - time to get the fuck out of the way
RN
Got to head out for the evening RN. thanks. I've got some thinking to do tomorrow to get myself straightened out.
No trading today. Working on inner critic, beliefs and self -confidence. Traders psych. tune up.
OK, so can I keep trading well and making money ? That was the question for the day and also, Why do I have self doubt ?
After some thought and adding another page to my trading notes I come up with two things. The short version:
1) My inner critic is either trying to protect me from some possible future disappointment or does not want me to become complacent with my studies. I've answered I've got a lot of time developing my discipline, I understand my set ups and my method shows a statistical edge. I can be profitable and still and will continue to study to improve.
2) Equating confidence with arrogance. I've know I've had this belief since I was young. Jr. high or earlier. Not sure how I came about this belief. Since I knew I never wanted to be arrogant you can see how this belief may fuck with your head. I've discussed this with myself. I believe progress was made.
So minor detour today. I'll be ready tomorrow. Patient, focused, smiling and ready to follow the plan.
Oh btw, I always thought of myself as an optimist
Thank you my trading mentors !
After some thought and adding another page to my trading notes I come up with two things. The short version:
1) My inner critic is either trying to protect me from some possible future disappointment or does not want me to become complacent with my studies. I've answered I've got a lot of time developing my discipline, I understand my set ups and my method shows a statistical edge. I can be profitable and still and will continue to study to improve.
2) Equating confidence with arrogance. I've know I've had this belief since I was young. Jr. high or earlier. Not sure how I came about this belief. Since I knew I never wanted to be arrogant you can see how this belief may fuck with your head. I've discussed this with myself. I believe progress was made.
So minor detour today. I'll be ready tomorrow. Patient, focused, smiling and ready to follow the plan.
Oh btw, I always thought of myself as an optimist
Thank you my trading mentors !