jasinhbca's quest for discipline, knowledge & profits

[jas_in_hbca]

Thanks Slugar, you too !

===

Not a bad first week back. -12 ticks today. +56 ticks 19 trades for the week.

My discipline did slip up near the end and I forced a couple trades. Management of trades was fine.

I'll do some review this weekend and do some more sim next week. My win rate should be higher, my discipline a notch higher too.

 

[Redneck]

'thinkaboutit"

Dang, not what I want to hear...

I can improve discipline while making money....

I've been at this 4+ years, a few more days/week of SIM is not much to really nail this discipline...

(waking up in the middle of the night) What's the problem ? I've been through the anxiety and the forcing myself to be disciplined. But now I'm a professional trader. There is no more trying, just do it. It is part of me to be disciplined. No stress involved.....

I'm not crazy about more sim but I'm going to earn the right to trade Live. It won't take long because being disciplined is who I am.

Thanks, RN. I suspected you were right and now I agree you are right. And I realized something important about were I am.

jas

Sweet!!!

Decision of a Pro

RN

 

[jas_in_hbca]

I traded my plan. A more experienced me may have traded it with better results but I did what I'm supposed to do. Improving the plan is not the concern now , just trading it properly. My patience in trades and unemotional objectivity is at a level it's never been before. I attribute that to the many hours of PA experience, the stats I'm keeping, and the support, guidance and suggestions from Redneck and the other behind the scenes mentors and traders. It can't be said often enough - thank you all ! (obviously out of respect for their privacy I don't mention them by name)

This past Saturday I reviewed charts & exit rules. Sunday just mental reminders to come in patient and focused.

Attached is a screen shot of a worksheet I use to monitor my trading execution. I go through periods where I use it every day to times when I just mentally do it. Either way I always review my trades. this simple step has really helped me. In the past I was surprised how many invalid, out of plan trades I took. As I monitored them I slowly began taking more and more valid trades. Then it was same thing with management of trades. When one sees how many mistakes are being made and the missed profits that result, the trading does begin to improve.

Sim today +42 ticks . Missed a nice trade in afternoon due to interruptions.

I expect to be LIVE tomorrow.

 

[jas_in_hbca]

Back to live trading today and was greeted with chop. Only 3 trades but executed per plan. Last trade was a loss. I did then feel a desire (slight not overwhelming) to find another trade to try to catch the possible break out I had been waiting (hoping) for. But it was late in the session so instead just disconnected broker. So, it was more of recognizing thoughts rather than impulsively acting on them.

Overall a great job of being patient. +19 ticks

 

[Redneck]

Overall a great job of being patient

And objective
And detached
And monitoring yourself
And disciplined
And knowing when enough is enough




RN

 

[jas_in_hbca]

Thanks RN.

=====

I don't have a daily profit target whereupon I cease trading for the day. Currently, I trade until I get tired or lose focus. Sometimes making X amount of ticks makes me lose focus. Still working on that goal of ignoring the PnL. Eventually i'll get there completely where I'm just trading signals.

At some point I may add a daily profit target. I like the idea of being able to feel a sense of accomplishment when that goal is hit.

Had a couple distractions and did lose focus today. Only 3 trades but executed well. On a deep PB after entry thought of exiting to grab 'something' but stuck with plan and accepted that it might be a loss. Naturally, as soon as that acceptance occurred price began moving my direction again and went to target. I say naturally because it used to be I would exit at that panic grab something feeling only to then miss the real move. ah, son of a bitch I am trainable. Yea !

Interesting day in that i thought the multi day break out would lead to a sharp run up. Nope not looking like it's going to happen.

Liking my progress but still aware I have more skills, mostly mental, to develop.

+50 ticks .

 

[Redneck]

J,

Today = Sweet!!!!

ah, son of a bitch I am trainable. Yea !

Amazing how the head mistress (mkt) has the ability to train us..., and she is one strict bitch

At some point I may add a daily profit target

Really Good idea - know when to quit for the day


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

Now ..., if you really want test your trading metal - make the daily profit target a % of your net trading capital

Caution; I would not do this straight off - but it should be a goal

Much harder than it comes across as - but once you can..., then you damn sure can - most days


RN

 

[slugar]

Thanks RN.

=====

I don't have a daily profit target whereupon I cease trading for the day. Currently, I trade until I get tired or lose focus. Sometimes making X amount of ticks makes me lose focus. Still working on that goal of ignoring the PnL. Eventually i'll get there completely where I'm just trading signals.

At some point I may add a daily profit target. I like the idea of being able to feel a sense of accomplishment when that goal is hit.

Had a couple distractions and did lose focus today. Only 3 trades but executed well. On a deep PB after entry thought of exiting to grab 'something' but stuck with plan and accepted that it might be a loss. Naturally, as soon as that acceptance occurred price began moving my direction again and went to target. I say naturally because it used to be I would exit at that panic grab something feeling only to then miss the real move. ah, son of a bitch I am trainable. Yea !

Interesting day in that i thought the multi day break out would lead to a sharp run up. Nope not looking like it's going to happen.

Liking my progress but still aware I have more skills, mostly mental, to develop.

+50 ticks .

nice job jas

 

[jas_in_hbca]

Thanks RN.

Thanks Slugar, I appreciate the encouragement !

 

[jas_in_hbca]

My pre-session self talk with my inner-critic, who's been quiet lately, revealed some concerns about my ability to continue being profitable. Straightened that out by reviewing stats and accepting there will be losses etc then moved forward.

PA was difficult initially indicating possible chop; big overlapping bars. Reminded myself to be patient.

Finally started seeing signs of a trend developing but my entries were missing ideal entry points and I was taking pullbacks that turned to chop. My quick post session review looks like I was not taking proper entries on some trades. I believe I developed a mental bias during the session of not wanting to miss a potential multi day break out. Not good.

A combination today of trades that didn't work & poor trades/discipline (trying too hard). For now I consider this an aberration and not a set back. feeling a mix of embarrassment and surprise that I traded so poorly.

-71 ticks