It is usually a bad idea to trade most stuff between those times. But I can name multiply instances where a ticker ran after the 11am buying period. Take IMRN on June 9th. It dipped and went from $6 -$28 between 10:30am-3pm.
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Overtrading: Share Your lessons learned
- Thread starter KCalhoun
- Start date
Chill man don't get your panties in a knot. Its a legit question.
@KCalhoun I don't know how you avoid inside days when it needs to finish as an inside day first before you would know to avoid it.
Patience and self awareness is the key. Frequent breaks away from the screen are vital. Staying hydrated. Observing market movement with your hand off the mouse (get rid of that illusion of control) away from the keyboard and you will start to develop patience. Knowing exactly what it is you are waiting for in other words you are not sitting waiting to see what happens.... You are waiting for your setup, and know exactly what it looks like and what the early signs are.
And always be aware. You slip into blindness so silky smooth it's like falling asleep. And then when you are doing your post analysis you can never understand why you took those dumb trades. That why frequent breaks keeps you sharp.
So many other subtle little influences and nuances that derail the mind through the day and some are many degrees removed that you would never suspect them.
Certainly! See below comment...
Not really quite a legit question from a market participant since 1999. It would be legit from someone starting out, or maybe 3-5 years in the "game".
"So, Chill man don't get your panties in a knot"
So @easymon1, here it is...
•Establish a Daily Routine, which starts with Meditation.
•Set a Positive Intention for the day.
•Because of the instruments I trade, 9:40am-12:30pm is my most optimal time to enter trades (Mondays & Fridays). My focus is at its best, then.
•9:40am-1:45pm is my most optimal time to enter trades (Tuesday-Thursday).
It requires a lot of patience, and full awareness of ALGOs, often waiting almost 2 hours, for a trade that will unfold in less than 25 minutes...
With my almost 22 years of experience, it's all that I am ingrained by now, and I KNOW. So, the rest of the day is spent READING, working-out, and doing Yoga. I am in bed by 10:00pm, with a wake-up time of 7:30am. NO Alcohol: Sunday-Thursday...
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Well you see that's where you are wrong. You don't simply rewire a structure wich took evolution millions of years to establish. He is a human and will have urges and impulses until his dying day. To make the claim that he should be capable of overriding natural impulse after only 20 uears is naive my friend. You never figure it out but you do eventually learn that discipline is an ongoing maintenance programme. Hats off to him for admitting that even after 20 years he still finds it challenging. So much dishonesty and horseshit out there about what trading should be... that I find kchalouns admissions quite refreshing.
Oh, you can rewire it all right, and IT DOES NOT TAKE 20 YEARS (OK, maybe like TEN YEARS).
It's NOT naive; simply a lack of intelligence, and like I have stated before, a lack of luck.
DISCIPLINE, is my middle name...
Great ideas here, thanks for posting them! I'm sure that they'll be helpful to a lot of traders as well.
I like the idea ddg re posting blotters and explaining trades, the public look could help inhibit overtrading, thx.
I do a lot of scaling and hedging because I'm constantly testing new strategies to help my members, so I'm in a unique situation, plus testing ideas for my TASC articles and Moneyshow presentations.
Thinking out loud, my tiny odd lot trades may be part of it. If I trade larger size then I'll be more selective.
Excellent thread guys, useful trading ideas.
I like the idea ddg re posting blotters and explaining trades, the public look could help inhibit overtrading, thx.
I do a lot of scaling and hedging because I'm constantly testing new strategies to help my members, so I'm in a unique situation, plus testing ideas for my TASC articles and Moneyshow presentations.
Thinking out loud, my tiny odd lot trades may be part of it. If I trade larger size then I'll be more selective.
Excellent thread guys, useful trading ideas.
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Crickets
Suppose your paycheck was based on percent entry triggers correctly taken?
https://www.elitetrader.com/et/thre...ercent-entry-triggers-correctly-taken.343345/
ChipShotTrader, tell us how you do on the little game above.
anytime next week will be fine. lol