jasinhbca's quest for discipline, knowledge & profits

[NoDoji]

Considering I was away for 3 days, it's Monday and was volatile I did ok but the mistakes I did make were especially frustrating.

It was a fast market and we haven't had a chance to experience trading a fast market since the flash crash 5 years ago, unless you consider the periodic FOMC announcements as practice. I do not remember ever seeing zero liquidity below a circuit breaker level. Today was historic price action.

It's OK to step back and be patient, and it's OK to be hesitant to use larger stops in conditions that are totally alien to you.

You did fine.

 

[Redneck]

The bigger moves threw me off today.

Was doing well until I lost some patience on two trades (out and reversed).

I did ok but the mistakes I did make were especially frustrating.

It days like today / Thur / Fri - which solidify all the behaviors we've been trying to..., ummm..., shove down your throat


Commit today to memory - and never forget / lose sight of it

They can happen..., they will happen..., they do happen...., and they're constantly lurking right around the corner

I am certain many lost money today - likely a lot of it..., I am also certain some went bust

You didn't


Don't allow what I post here to go to your head - instead..., allow it to solidify the correct and necessary behavior - within you



Trade well tomorrow J..., lighten up and have some fun with it for goodness sake



RN

 

[jas_in_hbca]

ND, RN. Thank you. I think there was lingering frustration in me and your comments really helped. Was still replaying a couple missed trades. OK done with that.

lighten up and have some fun with it for goodness sake

LOL, you know me well. Will do.


Went for jog this evening. Patient and focused tomorrow.

 

[Handle123]

So a maximum of one point per a trade?



Ok, what if price drops, there is a long red candle from 2009 to 2008.75, you will keep your limit order?

Your back testing, you will discover what is a good risk and reward, I don't use protective stops when I day trade which I don't recommend. LOL your inexperience is being shown as "long red candle from 2009 to 2008.75 is one tick. Do back testing so you learn about price action, me telling you is not going to increase your knowledge, you have to discover on own.

 

[Iwilldoit]

Your back testing, you will discover what is a good risk and reward, I don't use protective stops when I day trade which I don't recommend. LOL your inexperience is being shown as "long red candle from 2009 to 2008.75 is one tick. Do back testing so you learn about price action, me telling you is not going to increase your knowledge, you have to discover on own.

yes one tick is 0.25.

I meant from 2009 to 2007.75, I was typing that post while driving, hence resulting in errors.

I need to understand your model in it's entirety before I can develop the correct rules for backtesting.

Thank You,

IWDI

 

[jas_in_hbca]

I was typing that post while driving

No, no, no ..

 

[jas_in_hbca]

Traded calm and patient. Mistakes made were exiting too soon on the quick pullbacks. They were sharp and faster than normal. That's falling back into bad habits as price came back to near my entry. So, had two good entries on that last hour sell off but allowed myself to get shaken out. I just need to be aware of this. Remember to sit through the uncomfortable feelings and stick with plan.

Missed a nice trade when I had to cancel the order to take a phone call. oh well.

Felt quite relaxed today and did catch myself having fun.

As long as I don't do anything stupid I should be able to make money at some point this week.

+2.25 pts today

 

[Redneck]

As long as I don't do anything stupid I should be able to make money at some point this week

Think you're a special case..., or something

This an absolute fact for all of us

And for the record -> my stupidity is waaaaayyyyy expensive

Felt quite relaxed today and did catch myself having fun.

Near impossible to be stressed/ impatient..., and have fun

Near impossible to have fun..., and be stressed / impatient

Intriguing how that works - and a very beneficial mind set to have

RN

 

[jas_in_hbca]

Had 3 trades that went considerably higher after my exit. This use to really bother me. No longer. You make the trade and move on. Maybe learn something in review. One of these days though I will catch a nice runner. That I do look forward to.

Good state of mind today.

My stops in this volatile environment is a blend of structure/money management and best trades work quickly. Structure stops would work better but what i'm doing keeps my losses smaller and my mind calmer. Needless to say I'm getting taken out on trades I should be holding. Like the second trade shown I had to re-enter.

So , I'm not trading perfect but I am trading calmly and patiently. I may just need to accept that larger stops are necessary (they're already larger than normal) and also remember that profit targets are also larger.

+ 8.25 today. I'm happy with that. More pleased I didn't do anything terribly stupid. Also happy I'm not stressed about what I 'could ' have made.

 

[Handle123]

Had 3 trades that went considerably higher after my exit. This use to really bother me. No longer. You make the trade and move on. Maybe learn something in review. One of these days though I will catch a nice runner. That I do look forward to.

Good state of mind today.

My stops in this volatile environment is a blend of structure/money management and best trades work quickly. Structure stops would work better but what i'm doing keeps my losses smaller and my mind calmer. Needless to say I'm getting taken out on trades I should be holding. Like the second trade shown I had to re-enter.

So , I'm not trading perfect but I am trading calmly and patiently. I may just need to accept that larger stops are necessary (they're already larger than normal) and also remember that profit targets are also larger.

+ 8.25 today. I'm happy with that. More pleased I didn't do anything terribly stupid. Also happy I'm not stressed about what I 'could ' have made.

I make errors almost each day, made one today and didn't see triple bottom, and I have rules of what to do when I make them, of course you have to be aware at the time you made a mistake. We are all human, well most are. Today back to the grind and yes back to Starbucks too.