LOL - Rangers not any better
Good Trading All - win or lose
We're doin what we love
RN
Yukoner's 2015 Psychological Journal
- Thread starter Yukoner
- Start date
LOL - Rangers not any better
Good Trading All - win or lose
We're doin what we love
RN
Pday #4 - Had an excellent weekend, and went into the day with my focus on just trading the plan... staying disciplined... and doing widgets. My time was limited, but I was still able to put on some decent trades.
I have found it very helpful to make this my focus.... "Correct action is a victory". Today I just felt like an observer of the trade... will it work out, or won't it.
One trade came with 2 ticks of my take profit, and another trade within 3 ticks... but I was happy to write a checkmark in my journal. I know some people are probably thinking, what the heck are you doing.... why wouldn't you adjust the stop, or close it out?
Well, what I am doing is teaching my brain discipline.... helping it to learn to stay calm... and congratulating it for sticking with the plan. That is why I am forcing myself to stick with static stops and take profits.
-162
I have found it very helpful to make this my focus.... "Correct action is a victory". Today I just felt like an observer of the trade... will it work out, or won't it.
One trade came with 2 ticks of my take profit, and another trade within 3 ticks... but I was happy to write a checkmark in my journal. I know some people are probably thinking, what the heck are you doing.... why wouldn't you adjust the stop, or close it out?
Well, what I am doing is teaching my brain discipline.... helping it to learn to stay calm... and congratulating it for sticking with the plan. That is why I am forcing myself to stick with static stops and take profits.
-162
What you teaching your brain is how to keep losing, not good, not good at all. Our brains like events that repeat and it is happy you are losing money and you are reinforcing it. When you are profitable and within few ticks of target, do you notice you saying "go, go, go", do you notice an uneasiness? Like it is almost painful to have profitable trade? Brain is saying it doesn't like this cause it is an event it is not use to. You are developing your brain to be keen on seeking the best of losing trades so it can do it's happy dance. You have to work tomorrow on doing Capital Preservation. whatever target you doing isn't working consistently, figure something where at half target, platform starts to racket at every tick favorable.
I usually agree with you RN, but the guy is not having profitable days much, he is consistently losing his ass, so repeating tomorrow to me means not to work on screwed up approach but keep being rigid in how he is trading. But I am a monkey ass so what do I know, LOLGood Job YK
================
As for what others may..., or may not think - this is your journey
===============
Let's repeat tomorrow
RN
I made my widgets hour ago and off to Starbucks to watch people work.
PDay #5 - Woke up tired, but got up anyhow. I was pretty tempted to go back to sleep, but I told myself if I wanted to trade I needed to push through this and go through my routine. Standard morning routine. Checkmark.
Prior to turning on the computer, I went through my rules just to make certain I would stay focused on the correct actions. Trade #1 Checkmark. Etc. Then I had a trade come within 3 ticks of my profit target and I had to sit there and watch it retrace only to stop me out.
My next challenge was putting on a trade, only to get stopped out and it immediately then goes my direction... and the right thing to do was get back in again at my entry... But I realized that I was hesitating getting in because I was stopped out on the previous trade, even though that shouldn't have mattered... once I realized that, I got into the trade and watched it go to profit target. Now here is where I got really tempted to break my rules... because CL was moving so fast I was certain it would blow past my profit target, and for a brief second I was tempted to remove my profit target... but I reminded myself to stick with the plan. Checkmark, as I watched it move past another 30 ticks.
Then I had another frustrating experience, that I really had to guard against... three times I went to get long and literally missed be filled by seconds or a couple of ticks. Only to see it go to profit target. That is when it becomes really hard not to chase price, and just wait for the high probability setups.
Overall, my focus was just on trading the plan. It really is helpful to have very solid metrics to focus on. I am starting to think, that for me, I need to have all of my trading adjustments as rock solid as the static stops and take profit have been in this plan. I write this, and I think... "But they are, aren't they?"... and now I am not so sure. So going back to look at all three strategies one more time. Then my next stage, my upgrade, will be to then just trade "statically" those steps of those three trade strategies.
+1026
Prior to turning on the computer, I went through my rules just to make certain I would stay focused on the correct actions. Trade #1 Checkmark. Etc. Then I had a trade come within 3 ticks of my profit target and I had to sit there and watch it retrace only to stop me out.
My next challenge was putting on a trade, only to get stopped out and it immediately then goes my direction... and the right thing to do was get back in again at my entry... But I realized that I was hesitating getting in because I was stopped out on the previous trade, even though that shouldn't have mattered... once I realized that, I got into the trade and watched it go to profit target. Now here is where I got really tempted to break my rules... because CL was moving so fast I was certain it would blow past my profit target, and for a brief second I was tempted to remove my profit target... but I reminded myself to stick with the plan. Checkmark, as I watched it move past another 30 ticks.
Then I had another frustrating experience, that I really had to guard against... three times I went to get long and literally missed be filled by seconds or a couple of ticks. Only to see it go to profit target. That is when it becomes really hard not to chase price, and just wait for the high probability setups.
Overall, my focus was just on trading the plan. It really is helpful to have very solid metrics to focus on. I am starting to think, that for me, I need to have all of my trading adjustments as rock solid as the static stops and take profit have been in this plan. I write this, and I think... "But they are, aren't they?"... and now I am not so sure. So going back to look at all three strategies one more time. Then my next stage, my upgrade, will be to then just trade "statically" those steps of those three trade strategies.
+1026
Way to go Yukoner, pat yourself on you back, certainly wipe out some of the losses. I often wonder when you designed your method and how it does on weeks of tighter ranges? Days I notice that have higher speed you do well but in rest of them don't have enough follow through to get 30 ticks.
Well I can't disagree with you - I know how easy it is to fall into / for - the repeatable
I also appreciate how ingraining bad..., is 4X as hard to unlearn / relearn
My only retort;
Before building up - a really solid foundation is required
I believe discipline to be one of the core elements comprising that foundation (and where YK has stuggled)
So..., I'm emphasizing it
=====================
Truly..., and imo - this is one of those catch 22's
Need discipline to implement said methodology / approach
Need a viable approach / plan to implement
Without both - how to tell which is lacking
How to develop one with out the other
So which is more important
Both are necessary - and must work in concert (harmony)
Damned if we do..., Damned if we don't
RN
Last edited: