Spydertrader's Jack Hershey Futures Trading Journal

Status
Not open for further replies.
Gem of the day:

From ET Chat:
Spydertrader (Jun 11, 2007 10:25:05 AM)
Biggest mistake beginning traders make isn't undercapitalization, or not having an edge. Biggest mistake is not having the ability to self analyze WHERE the errors come from...
 
Chart for the morning.

Very nice day. Caught all major FTT's. Of course should learn to hold longer. The tip to 'not expect' an FTT too quickly before VE or flaw helps me a lot. I know better when to expect it.

regards,
Ivo
 

Attachments

Enjoying an AHA day today!

What I did to help me learn to trade what the market was telling me was to force myself to only reverse. So I set up the sim and focused on what was coming next. My goal wasn't to SCT or anything else but to really take all the market had to offer and not 'settle' for less once I had a profitable trade.

I was forced to answer questions like: are you sure the long is over? Why? Are you sure a short is a good trade right NOW? If this is a flaw you hold and not chase every little move, are you sure this ISN'T a flaw?

Now I made alot of mistakes and I was late reversing, but so what. I know were the mistakes are and can go back and review the screen recording to work though them. I was completely calm except for the times I would see the PnL window on the DOM I have setup. Might have to put a piece of tape over it.

When I stopped worrying about PnL and KNEW that I was keeping on the correct side of the market, I didn't worry about the mistakes, and I found out that this is very profitable even with the numerous mistakes I made today.

Good Trading to All,
Mike
 
ym wall

ym-wall.gif
 
Quote from Avi 8:

I was completely calm except for the times I would see the PnL window on the DOM I have setup. Might have to put a piece of tape over it.
A software program actually exists for online poker that does the same thing, so you focus on making sound decisions rather than allowing yourself to be affected by results. It is called Tilt Blocker 2000.

The application requires the visual basic 6 runtime which you can download here (Try to run it before you download the runtime - most computers have it installed anyways)
 

Attachments

Es chart for today.

I've been doing very well for a week as long as I stick to mostly end of bar sweeps. Incorporating the finer tools has hurt more than helped, especially the dom. Problem I'm having with the dom is that price usually breaks the wall that made me take the trade after the initial bounce off the wall. So I have to view it as continuation, and reverse back.

Best to all,
Esteban
 

Attachments

Status
Not open for further replies.
Back
Top