The Million $$$ Quest...

Day 31

CONCENTRATE. Concentration...

# of Disasters: 0

I wasn't supposed to trade today. But, I didn't and somehow I ended up with 27 trades and 50 RTs. (1/4 th my normal number of RTs)

I just walked around and placed orders at random while watching CNBC and I hit the ball out of the park man. I had one of the greatest trading days (since I started scalping around) ever on a day when I wasn't going to trade and slept in till like 10:45 am.

Craziness... I tell ya.

I am not going to trade till next Wednesday the December 14th.
 
I really don't believe you need to be executing as many trades as you are currently.

When I first started on demo, I was executing 40 - 50 trades.

Then I started slowing it down, averaging around 30 trades.

And now I average from anywhere from 10 - 20.

But if I was more relaxed I think 4 - 5 trades could work well for me.

Don't know exactly how your trading style is, but, if you aren't finding success with your great number of trades, maybe do less trades. Hold on to the good ones and protect your profit with a trailing stop, and start slowly, build up confidence doing less trades, and then as you get better, make more.

Just a suggestion.

Good job on the trading though, hope you have continued success.
 
Day 33

NO MORE BREAKS..

# of Disasters: 0

Just wasn't in with the flow today because I was out of touch with my own trading... in a sense. I spend way too long of a time without day trading and thus I was a bit rusted today.

Now on, I will never take a break more than a 1 day break. And I shouldn't put myself in position to take huge breaks to catch up on other things. I need to stay on top of everything at all times, and I need to open myself to the opportunity to being able to trade everyday. I need to make money trading, and not putting myself in a position to trade everyday is akin to not going to work. Missing work isn't good.
 
Day 34

Trading is SIMPLE...

# of Disasters: 0

Give it all on each and every single trade. Win on every trade, and finish every day in the postive.

Win every TRADE. Finish NET POSITIVE each and every single day.
 
Day 35

Trading is not SIMPLE...

# of Disasters: 1

10:45 PM Finally decided to wake up.

12:00 PM City Confidential
01:00 PM American Justice
02:00 PM The New Detectives: Studies in Forensic Science.

I am finding myself straying further and further away from trading. I just end up watching TV or something else.

I need to get back on track, and I need to start on it Monday.
 
Quote from nkhoi:

I recomm PBS:Globe Trekker series
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We have the same tastes my friend. The other series about touring the Himalayas was also outstanding.

Ripley,

With the new dvr technology trading and tv go quite nicely together. Just hit the pause button when something interesting appears on the charts.:)
 
Weekly Thoughts:

I am no super trader, and I just have to admit that and work with what I got. Last week, I was trying to stay up till 5 AM to trade 2 hours of the DAX open and then go to sleep at 5 AM and wake up at 9 AM to trade the U.S. Markets (YM).

But, that wasn't a brilliant idea since I could never wake up at 9 AM. I was just trying to milk it, since I finally found the rhythm to the markets. But, what I should do is just focus in on one market and one time frame and just be brilliant at it while sticking to a consistent sleeping time.

Go to sleep at 1:00 AM, wake up at 7:30, and be at the trading desk at 7:55. BRILLIANT. Thats all I got to do.

Then, there is the trading. I need to wait, stand back and trigger only when I know I am going to win each and every time. It isn't money any more, my sole goal of trading is to win.. win and win..

Win every trade, finish each day in the money and put together a great week and build up some confidence. Thats my goal for this week.
 
Quote from Ripley:

Weekly Thoughts:


Then, there is the trading. I need to wait, stand back and trigger only when I know I am going to win each and every time. .
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this is impossible. you can never know you will win every time.
 
Quote from vhehn:

this is impossible. you can never know you will win every time.
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I trade such a short time frame, and only take the highest probability set ups that I will put together a 100% winning day one of these days.

Of course it is impossible for swing trading, or position trading etc.

I just believe that it is very much possible for extremely short term oriented trading.
 
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