jasinhbca's quest for discipline, knowledge & profits
- Thread starter jas_in_hbca
- Start date
Can't ask for better Sir
Now..., let's do'er again today
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Any reason to assume the environment (mkt's behavior over the last few weeks) has changed
Not yet
RN
Yes it should..., but never underestimate a human's ability to fuck up an anvil..., or that life happens..., as does shtf
Be sure to always check yourself at the door - before entering the arena
And periodically..., while therein
RN
Quick update (got a tax return due today); felt a little off today but in review of trades they look good. I was off though in that I was trading sept contract first couple trades and kept thinking why is the spread so weird and volume slow. Duh ! Flipped over to Dec contract.
Got in to office later than I like and had several interruptions today. Overall, I was seeing the market well on trades taken, was patient and relaxed. Losses were acceptable but not thrilled to have two losing days in a row.
Looks like there were a couple trades I missed that I should have taken. Trading TF bars looked a bit messy to me at the time but HTF and context was there. More charts to add to my files.
-4.75 nq , - 4 ticks CL . gotta run..
Got in to office later than I like and had several interruptions today. Overall, I was seeing the market well on trades taken, was patient and relaxed. Losses were acceptable but not thrilled to have two losing days in a row.
Looks like there were a couple trades I missed that I should have taken. Trading TF bars looked a bit messy to me at the time but HTF and context was there. More charts to add to my files.
-4.75 nq , - 4 ticks CL . gotta run..
This has been on my mind today and I want to comment
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Its taken a lot of work to get you back to the basics (fundamentals if you will)
Patience..., Routine..., Discipline
To remain successful - means never losing sight of these
I have lost sight a couple of times..., and regretted it
Only way I was able to to get back..., and stay on track - was..., and remains to this day - get back to..., and stick to the basics (fundamentals) like glue
Every day..., every trade: make them your core - make them how you trade..., make them who you are as a trader..., make sure they are intact - you will succeed
Lose sight: you will fall hard
Please learn from my mistakes - so it not necessary you make em
Never overlook / take for granted / minimize -> the importance of the basics..., in this business especially
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No matter how successful we are / we become - the basics must always..., and forever remain our anchor
Every former trader (former due to going bust) - big name..., or otherwise - lost their anchor..., and consequently their way
The basics is our very lifeline - grasp them..., treat them with reverence - and never..., ever - let em go
RN
Great post RN. I'll print that one too. Thanks.
I've certainly become aware that a big part of my edge is having patience and waiting for proper context. A lot of my losses have come from not paying attention to those two things. It's good to know that about myself.
I've also become less concerned about making "X" amount of ticks/points per day. I used to think if I can make X per day then size up I'll be moving closer towards my goals. Now I'm more focused on patience, valid trades & proper management. If I do that then everything takes care of itself even if I have losing days.
patience , context, focus. Gotta keep saying it so it's always at the forefront. Actually that's funny cause sometimes i'll be doing something unrelated to trading; watching tv, mowing the lawn, and the voice in my screams out "Focus, Focus take the trade !" Now that's wrong context !
jas
I've certainly become aware that a big part of my edge is having patience and waiting for proper context. A lot of my losses have come from not paying attention to those two things. It's good to know that about myself.
I've also become less concerned about making "X" amount of ticks/points per day. I used to think if I can make X per day then size up I'll be moving closer towards my goals. Now I'm more focused on patience, valid trades & proper management. If I do that then everything takes care of itself even if I have losing days.
patience , context, focus. Gotta keep saying it so it's always at the forefront. Actually that's funny cause sometimes i'll be doing something unrelated to trading; watching tv, mowing the lawn, and the voice in my screams out "Focus, Focus take the trade !" Now that's wrong context !
jas
I have always had sensible Goal for the day per contract on original entry of $200-$300 base on time, I have to make so many points in what the "mean" amount of time has shown me in back testing or I stop trading. And when I reach my "Goal", unlike many others who increase contract size at this time, I reduce by 80%, even have my platform to do this automatically. Makes no sense to be at all why some want to build up on the day then risk more, best trading is early and then quit. Trading has become like a job after so many many years of it, so all I can handle is like an hour, but all the back testing I have done shows me that much less losing in first hour, why hang around to give it back?
Jas, 365 days a year, I am checking out last couple days of my trading, whether ill, vacation and even when I have had surgeries-after I will spend 5 minutes. It allows me to stay focused, print out charts, fold them into your pocket and I can take something out at any time.
Size, yep size matters, but if you have less than 3 hours of one minute bars, you too close, I trade 19 inch laptop for charts and domes are within of my charting, I couldn't stand Ninja's domes being so big. But on screen I have ES/NQ, works for me to see S/R.
Jas, 365 days a year, I am checking out last couple days of my trading, whether ill, vacation and even when I have had surgeries-after I will spend 5 minutes. It allows me to stay focused, print out charts, fold them into your pocket and I can take something out at any time.
Size, yep size matters, but if you have less than 3 hours of one minute bars, you too close, I trade 19 inch laptop for charts and domes are within of my charting, I couldn't stand Ninja's domes being so big. But on screen I have ES/NQ, works for me to see S/R.
Attachments
Here I am talking about patience and then I go and trade chop. Traded CL today after inventory report. First trade was a to target 15 tick win. And even though it continued 70+ ticks with out a decent pullback I thought 'no big deal going to be a good day for pulling out 15- 20 tick wins.'
Had several trades move my direction but stall out before target and reverse hard. Signs were there for me to exit but I think I may have traded emotionally. Maybe that first trade did effect me.
I know this about me ; sometimes I need to get smacked down to get me motivated and focused. I don't like that. I'll give that problem some thought on how to overcome it. Same thing happened when I played sports.
- 36 ticks today. Was frustrated but past that and ready to be focused and damn it patient.
Had several trades move my direction but stall out before target and reverse hard. Signs were there for me to exit but I think I may have traded emotionally. Maybe that first trade did effect me.
I know this about me ; sometimes I need to get smacked down to get me motivated and focused. I don't like that. I'll give that problem some thought on how to overcome it. Same thing happened when I played sports.
- 36 ticks today. Was frustrated but past that and ready to be focused and damn it patient.
Ain't this trading gig such a hoot -
Why I've always maintained it 93 to 97% mental
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Our anchors keep us from becoming adrift in the sea of confusion / turmoil / aimlessness / piss poor trading
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Aside;
Be sure you're flat heading into tomorrow's fed (2:00 ET)
Get some rest - tomorrow another day
RN