My Wyckoff journal
- Thread starter damnpenguins
- Start date
I may be hard headed but I really am not concerned about being wrong. if you ask me if I'm scared of missing out or losing money then I can't argue with you!Oh I dunno - hard headed-ness seems to come pretty natural also
RN
Once again this really is more for posterity sake than public consumption, but there is something cathartic about posting this stuff out there....
Anyway. Final part to the update from earlier today...
The one thing that always used to grate on me with Trading in the Zone was how much MD belaboured the point regarding the boy and the dog. I thought it was a useful analogy that he dragged out for far too long....
Boy was I wrong....!
For the first time today I really got the message.
What was the difference? I transposed what he was saying and applied it to my past and my experiences etc. I can now see how it impacts on every single aspect of my trading....
I have found my CORE inoperative belief, and the realisation hit me like a freight train.
I can now see how that one single CORE belief has weaved its way through every single thread of who I am - both as a person and a trader.
Today, I was able to observe how this core inoperative belief intercepted and changed the way I perceived the information the market was providing.
There has always been a certain tension or a kind of struggle between what I knew I had to do, and what that tight little ball of anxiety in my chest was yelling at me to do. Most of the time I can get past it and still function. Most of the time....
Just being able to differentiate between what my anxious self was trying to convince me to see, and what the market was actually doing was eye opening.
Anyway. As always. Constant Improvement. Rome wasn't built in a day.
Anyway. Final part to the update from earlier today...
The one thing that always used to grate on me with Trading in the Zone was how much MD belaboured the point regarding the boy and the dog. I thought it was a useful analogy that he dragged out for far too long....
Boy was I wrong....!
For the first time today I really got the message.
What was the difference? I transposed what he was saying and applied it to my past and my experiences etc. I can now see how it impacts on every single aspect of my trading....
I have found my CORE inoperative belief, and the realisation hit me like a freight train.
I can now see how that one single CORE belief has weaved its way through every single thread of who I am - both as a person and a trader.
Today, I was able to observe how this core inoperative belief intercepted and changed the way I perceived the information the market was providing.
There has always been a certain tension or a kind of struggle between what I knew I had to do, and what that tight little ball of anxiety in my chest was yelling at me to do. Most of the time I can get past it and still function. Most of the time....
Just being able to differentiate between what my anxious self was trying to convince me to see, and what the market was actually doing was eye opening.
Anyway. As always. Constant Improvement. Rome wasn't built in a day.
btw @slugar - here is the MD quote that sprung to mind when you mentioned fear of missing out....
It's interesting that both of those states reflect a focus on alleviating how the trader is feeling and not responding to the opportunities in the market.
I guess I'm the flip side of that equation, when I'm hesitant I'm filtering information that builds the case agains the trade...
It's interesting that both of those states reflect a focus on alleviating how the trader is feeling and not responding to the opportunities in the market.
I guess I'm the flip side of that equation, when I'm hesitant I'm filtering information that builds the case agains the trade...
Thoughts and an anecdote = on filtering / opening up
No secrete I have issue with another member
It was suggested I place that member on ignore
My reply (paraphrasing) was: I could not afford to do that - I must remain open to all - whatever "all" is
=============================
We have unique (unique to each of us) filters we view the world through
We cannot choose when to activate our filters - we have them - they by in large part are invisible to us
They've formed out of the way we've grown up / our experiences / the way we we're raised (our most formative time is early on)
They are as much a part of us - as breathing / blinking
================
Once a person is able to deactivate their filters - the world..., the mkt..., that person's entirety - becomes completely different
Wish I had the words to describe it adequately - I call it getting clear eyes
Everything - you thought..., knew..., and/ or believe / believed - changes
How you interact with your surroundings / people / any of it / all of it - changes
And just like with filters - once your eyes become clear - you can't choose when / when not to apply it - it will remain with you for life
====================
With your recent couple of post - you're not there yet..., but you're getting very close Sir
====================
Trust this doesn't come off like some over the top metaphysical stuff
I'm but a simple minded dumbass redneck - feet planted firmly..., and squarely - on the ground - eyes crystal clear
Now..., repeat after me = ohm...., ohm...., ohm....
RN
No secrete I have issue with another member
It was suggested I place that member on ignore
My reply (paraphrasing) was: I could not afford to do that - I must remain open to all - whatever "all" is
=============================
We have unique (unique to each of us) filters we view the world through
We cannot choose when to activate our filters - we have them - they by in large part are invisible to us
They've formed out of the way we've grown up / our experiences / the way we we're raised (our most formative time is early on)
They are as much a part of us - as breathing / blinking
================
Once a person is able to deactivate their filters - the world..., the mkt..., that person's entirety - becomes completely different
Wish I had the words to describe it adequately - I call it getting clear eyes
Everything - you thought..., knew..., and/ or believe / believed - changes
How you interact with your surroundings / people / any of it / all of it - changes
And just like with filters - once your eyes become clear - you can't choose when / when not to apply it - it will remain with you for life
====================
With your recent couple of post - you're not there yet..., but you're getting very close Sir
====================
Trust this doesn't come off like some over the top metaphysical stuff
I'm but a simple minded dumbass redneck - feet planted firmly..., and squarely - on the ground - eyes crystal clear
Now..., repeat after me = ohm...., ohm...., ohm....
RN
Cheers RN
Filters is a good way of putting it.
To be honest I feel like I've only scratched the surface of this stuff. Not close, just further along. I made progress last week. I got a glimpse yesterday. Small incremental changes.
Anyway - I know the market will still be here next week etc
Now - where did I put my yoga mat and incense burner??!!! 'I am a hollow reed, I am a hollow reed. Let it all flow through me like the breeze'!!!
Filters is a good way of putting it.
To be honest I feel like I've only scratched the surface of this stuff. Not close, just further along. I made progress last week. I got a glimpse yesterday. Small incremental changes.
Anyway - I know the market will still be here next week etc
Now - where did I put my yoga mat and incense burner??!!! 'I am a hollow reed, I am a hollow reed. Let it all flow through me like the breeze'!!!
Last edited:
Back again...
I've had a few weeks off due to moving house; I got back to trading last week. It's been a great few weeks for me without the distraction of live trading!
I've spent the time working on Trading in the Zone.
Had the audio book on loop whilst I spent hours pressure cleaning decks and paving areas both in the old and new places... Any time I had some mindless tasks to do, I'd have the book on just letting it sink in.
Being without the internet for a few weeks was great as I could sit down with the printed book and scribble away. Without the pressure to trade each day, I was able to do all of this work without worrying about getting ready for the open etc.
This is a bit of a nothing post, but need to get back into the habit of updating the journal... I'll follow up with today's update.
I've had a few weeks off due to moving house; I got back to trading last week. It's been a great few weeks for me without the distraction of live trading!
I've spent the time working on Trading in the Zone.
Had the audio book on loop whilst I spent hours pressure cleaning decks and paving areas both in the old and new places... Any time I had some mindless tasks to do, I'd have the book on just letting it sink in.
Being without the internet for a few weeks was great as I could sit down with the printed book and scribble away. Without the pressure to trade each day, I was able to do all of this work without worrying about getting ready for the open etc.
This is a bit of a nothing post, but need to get back into the habit of updating the journal... I'll follow up with today's update.
Now on to todays post.
I finished up about 15 - 20m after the open today as I'd executed two good trades and decided to let it be at that. Same with yesterday, I only took 3 trades....
It's more important for me, at the moment, to execute my edges properly and maintain the right mental approach.
I'm really focused on ingraining these mental changes rather than taking a large number of trades. So if I take a couple of trades with the right mindset then I'm happy. Regardless of the outcome of the trades themselves. It's all about reinforcing the positives....
I'm judging my performance based on MD's principles of consistency. Integrating these principles is a matter of creating a set of experiences that are consistent with them. So every time I take a trade and can say I've met those principles I'm making progress.
- Constant Improvement. Rome wasn't built in a day.
I finished up about 15 - 20m after the open today as I'd executed two good trades and decided to let it be at that. Same with yesterday, I only took 3 trades....
It's more important for me, at the moment, to execute my edges properly and maintain the right mental approach.
I'm really focused on ingraining these mental changes rather than taking a large number of trades. So if I take a couple of trades with the right mindset then I'm happy. Regardless of the outcome of the trades themselves. It's all about reinforcing the positives....
I'm judging my performance based on MD's principles of consistency. Integrating these principles is a matter of creating a set of experiences that are consistent with them. So every time I take a trade and can say I've met those principles I'm making progress.
- Constant Improvement. Rome wasn't built in a day.
Only 1 trade - taken right at the open.
My goal has been to only take a few trades each day; focus on maintaining the right mindset regardless of the outcome, then settle in to do a mental review so that's what I did.
For me this was a really good trade, it was a valid signal according to my plan and so I took it without reservation. I felt in terms of "Trading in the Zone" it was a textbook trade. I followed my process. I executed without reservation, and maintained the right mindset.
EDIT: Re-reading this post it seems way too positive, and I'm not feeling that positive now, I'm feeling frustrated.
I know I'm leaving a lot on the table. There were ~9 additional signals today that I didn't take.
It will come. But if I rush back into trading as many signals as I get each day without getting my mindset right I'll be back to square one.
Tough bloody business this!
As always - Constant Improvement. Rome wasn't built in a day.
My goal has been to only take a few trades each day; focus on maintaining the right mindset regardless of the outcome, then settle in to do a mental review so that's what I did.
For me this was a really good trade, it was a valid signal according to my plan and so I took it without reservation. I felt in terms of "Trading in the Zone" it was a textbook trade. I followed my process. I executed without reservation, and maintained the right mindset.
EDIT: Re-reading this post it seems way too positive, and I'm not feeling that positive now, I'm feeling frustrated.
I know I'm leaving a lot on the table. There were ~9 additional signals today that I didn't take.
It will come. But if I rush back into trading as many signals as I get each day without getting my mindset right I'll be back to square one.
Tough bloody business this!
As always - Constant Improvement. Rome wasn't built in a day.
There seems to be a lack of awareness amongth those journaling their efforts to become day traders here that the majority of those actually doing this for a consistent profit do in fact only trade the first 2 hours of the Wall Street session (often times only part of that session), most of those are quite pleased to quit after 1-3 trades regardless of the day's result, and then go do something else with their lives. I see so many here reporting profitable mornings but then follow on with the fact that they successfully spent the rest of the day making sure they grind out a loss for the day. Why is that?