The CL/NQ experiment

[Gabe2004]

Starting nest week I will post my equity chart only once a week, on Friday.
This will allow me to concentrate on execution of trades and not on the financial outcome.
Back above water .

 

[NoDoji]

Quote from Gabe2004:

The 12-Step Program of Recovery has too many religious references for my taste.

I think you should write a book about trading and related issues.
I would like to be the first to buy it.
Thanks for the examples.

Gabe

12-Step Programs are not affiliated with any religion. A "Higher Power" (which many call "God" for ease of use) can be anything at all that you find more powerful than yourself. Clearly, the market qualifies as such.

The best trading psych books are already written - Mark Douglas

The best price action trading books are also already written - Brooks, Volman, Schwager, Suri, to name a few

 

[Redneck]

Quote from Gabe2004:

What is the sub-conscious mind?
I am not trying to be funny.
I would just like a simple (practical) explanation.

Gabe

One’s default way of thinking / acting / reacting / even acting out

It’s what one does without thinking… and what one reverts to in times of trouble / stress (especially stress)

Some fight… some flee

Furthermore

Some embrace reality... even if it hurts (emotionally)… while some make up shit to avoid similar pain


RN

 

[Gabe2004]

Quote from Redneck:

One’s default way of thinking / acting / reacting / even acting out

It’s what one does without thinking… and what one reverts to in times of trouble / stress (especially stress)

RN

Thanks RN.
Do we have any idea what causes the initial default state?

Gabe

 

[Gabe2004]

2 trades 2day.
Entry and 1st exit were ok.
Could have waited with the remainder exits.

 

[Redneck]

Quote from Gabe2004:

Thanks RN.
Do we have any idea what causes the initial default state?

Gabe

Upbringing (how one is raised) and environment

============

One's subconscious can be changed (akin to reprogrammed) I know

But it ain't easy... it takes time... changes are gradual... and the process is fraught with a hellofa lot of backtracking (at times too damn much imo)

But; it is what it is (or was)


RN

 

[Gabe2004]

Quote from KDASFTG:

I was able to glean a sense of where your “mindset” might be by your “intense and emotional focus” on the results of your last individual trade, vice where it should have been, which is on the “flawless execution” of all your trades. And only then, evaluating your results after a statistically significant series of trades has been executed.

As I wrote in a previous post, I will stop posting the daily cumulative equity chart and post only the trades.

My Response: The idea of “being right or being wrong” has absolutely no place in your trading mindset and psyche.

I am aware of that but.....

The result, you will never learn what works on a consistent basis.

My stats should take care of that.

My Response: This is not a good thing to engage in while learning to trade. It grants an “open invitation” to ego involvement in each and every one of your trades. Your “Center of Focus” may shift to trying to prove something,

So far it works for me and I am not trying to prove anything. Just follow my plan.

trading is a: “Pattern Recognition with Probabilities Numbers Game”.

Agree 100%

Gabe

 

[NoDoji]

Quote from Gabe2004:

2 trades 2day.
Entry and 1st exit were ok.
Could have waited with the remainder exits.

Why was the first exit OK?

Why did you give the second trade (entered at a worst price than the first) so much more wiggle room?

Basically, I'm wondering how the rules of your plan explain the tight stop on the first trade and the wide stop on the 2nd trade.

 

[Tobo-Fisher]

Quote from NoDoji:

...Why did you give the second trade (entered at a worst price than the first) so much more wiggle room?

Basically, I'm wondering how the rules of your plan explain the tight stop on the first trade and the wide stop on the 2nd trade.

I was asking myself the exact same question when I saw that chart. Also (to me) it looked like a sell right into a possible support zone. Especially when price bounced back in a sort of pinbar-ish way. (But I must say that I'm not very familiar with CL trading - btw, no criticism intended, just an observation)

Tobo

 

[Gabe2004]

Quote from NoDoji:

Why was the first exit OK?

It hit my 1st target.

Why did you give the second trade (entered at a worst price than the first) so much more wiggle room?]

It was within my Stop Loss parameters.

Basically, I'm wondering how the rules of your plan explain the tight stop on the first trade and the wide stop on the 2nd trade.

I used a technical stop in the 1st trade and a numerical stop on the 2nd trade.
I have to think about this.

Gabe