traderkay's stupid paper trades

well sucky day overall. there were 3 potential trades. all short. the first two, were not off small bars. first reached 2x profit. second reached 3x profit. i prolly wouldnt take either because they're off bigger bars. the third the bar was very small, the setup was great. but it stopped me out by 1 tick with the next outside bar and THEN headed back down. if i re-entered, would sure be nice, but I wouldn't:) So let's say 1 trade, 1 loss, -0.08 for the day. thing is i missed all 3 trades in real time so now im just looking in hindsight.
 

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Quote from traderkay:

well, well, well. 7 trades.

hmm, i'm starting to believe that no matter what kind of ridiculous entries one uses (gann, fibs, patterns, murrey math, oscillators, elliott wave, astrology, tea leaves, i could go on), if he sticks to a 3:1 risk/reward ratio, he will be ok. it's a strange feeling. its almost like feeling a bit invincible, feeling like no matter what kind of dumb shit trades i try to pull, i'll come out ok cause my wins are 3x losers. hmmm. how else could it be that all of the people using above methods, make money? there's no wrong method? hmmm.
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Kay, I fear that you are about to develop a bad habit. Find a strategy and STICK TO IT. You cannot switch strategies constantly and expect to be consistently profitable, IMO.

Find what you like, and trade that every day, on every time frame.
If your existing system is not able to do that, then it is not robust enough.

Feeling invinsible is a very bad thing.
 
Quote from traderkay:

Probably tommorow will suck and I won't even post results cause it sucked. I'll try to post results no matter what though.
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Another bad habit. Do not be concerned about whether tommorrow will suck or not. Simply trade your plan. If you keep thinking about what might happen, you are going to get a case of triggeritis.
 
oddiduro, thanks for constructive comments. i agree with you on both counts. i only trade classical patterns (flags, wedges, ranges, etc.) and S/R. and i am posting results no matter if they suck or not.
 
to those who say im not getting anywhere. this is my stats for last 5 trading days: +0.43, +0.03, -0.01, -0.08, +0.18 = +0.55 im sure many of you are so skilled that you barely have a losing day, but im sorry im not there yet. but this sure beats losing.
 
4 trades:
S BE
L +0.27
L -0.09
L BE
Total: +0.18

What pissed me off is that I got stopped out the second long. I recognized the trend day early on, and nailed the first bull flag with my first long trade. then i tried to nail another shallow retracement but got stopped out by like 2 ticks! Chart showing that trade is attached.


so i got the whole day, and the direction right, but mis-timed entry by 2 ticks. o, well? How did I know the making of an uptrend day? When the minor reaction low after the morning upsurge held around 11:30! That was my clue.
 

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