Yukoner's 2015 Psychological Journal

Day #6 - Woke up this morning and decided to try something different. So I jogged up the river from my house, then did some exercise by a waterfall, relaxed for a bit... then walked back to my place to start the trading day. Thought maybe the exercise might relax me a bit going into the trading day.

The day started off okay, but then I got caught in a silly bias and kept fighting the trend. I would see the entries short, but didn't believe it. Crazzy, as if I knew better than the trading plan. Looking back now, I realize I got down for the day a bit... and then got way too caught up in trying to make it back (ie. not calm)

So my profits for a week, pretty much dried up in one day of trading. That isn't good!

I do remember being overly concerned with having a losing day... maybe it was the old history, or maybe it is the combine pressure... or maybe it is just me, not wanting to lose.

The biggest problem was getting caught in that bias long.... when I really shouldn't have any bias or opinion, just trade what the market state is based on market assumptions.

-890
 
Yukoner said:
Day #6 - Woke up this morning and decided to try something different. So I jogged up the river from my house, then did some exercise by a waterfall, relaxed for a bit... then walked back to my place to start the trading day. Thought maybe the exercise might relax me a bit going into the trading day.

The day started off okay, but then I got caught in a silly bias and kept fighting the trend. I would see the entries short, but didn't believe it. Crazzy, as if I knew better than the trading plan. Looking back now, I realize I got down for the day a bit... and then got way too caught up in trying to make it back (ie. not calm)

So my profits for a week, pretty much dried up in one day of trading. That isn't good!

I do remember being overly concerned with having a losing day... maybe it was the old history, or maybe it is the combine pressure... or maybe it is just me, not wanting to lose.

The biggest problem was getting caught in that bias long.... when I really shouldn't have any bias or opinion, just trade what the market state is based on market assumptions.

-890
More...
I have been on a tear now for awhile generally, but on Sunday I was thinking much about losing, am long overdue for a number of losses, I actually track myself of when I am supposed to have sustained losses. Now I don't know if constant thought patterns did it, or patterns, but on Monday had more losses than usually and one "dumb" trade of not reading the market right. But cause of these losses, my rules said on next day trade more, glad I had that rule.

Yea, I never ever do exercising before the market, that makes me aggressive, more oxygen going into the body, everyone is different, but most traders I know exercise after to release stress.
 
Handle123 said:
I have been on a tear now for awhile generally, but on Sunday I was thinking much about losing, am long overdue for a number of losses, I actually track myself of when I am supposed to have sustained losses.
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I track mine also

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

As long as I'm having a mix of wins / losses throughout a day - sort of like a counter to each other and helping in keeping me balanced - I'm good

It's when I get on a streak (wins/ losses lopsided ) - that I get cattywampused

Extremely important to keep one's head down.., and level - in this business

RN
 
Redneck said:
I track mine also

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

As long as I'm having a mix of wins / losses throughout a day - sort of like a counter to each other and helping in keeping me balanced - I'm good

It's when I get on a streak (wins/ losses lopsided ) - that I get cattywampused

Extremely important to keep one's head down.., and level - in this business

RN
More...
Actually, I was thinking more along the lines of having a losing day, not loses in a day, cause I ave down on each trade, when I have two or more full losing trades, it is rather huge, as a Scalper, one has a much different mindset day trading like ES and all the others, you want it to go against the trade so you can add on more at better prices reducing overall risk of position, but quickly recover so you can make ticks or more if price moves fast enough. Two or three loses in same for me in Indexes will take 2-5 weeks to recover, but when you test and trade over long strings of data going back fourteen years, it ends up very favorable. It all comes down to how you design different systems, some automation is geared for day trading 2-6 trades a day and don't ave down, but they have higher losing percentages but target higher. Trading different styles all have trade-offs.
 
Yukoner said:
Day #6 - isn't good!
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So.., what's the deal YK

Licking wounds..., head in sand..., something else

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

Your internal stuff will not get resolved - till you resolve it

Your trading consistency will not improve - till you do

You're not going to change - until you get fed up

And none of us are getting any younger


RN
 
Handle123 said:
Trading different styles all have trade-offs.
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Hi Handle,

I agree. Trading involves different kinds of trade-offs. We all have our likes and dislikes. Usually, I do not like an outside bar to be the entry bar. I often wait for the outside bar to close, and then decide whether it is short enough to be a signal bar.

For example, a double bottom was formed at an upsloping trend-line on the one-minute chart of crude oil between 14:13 and 14:16 PM Eastern Time today. If I accept an outside bar to be the entry bar, the long entry will be one tick above the prior bar at 60.73. In this case, the eight-tick outside bar was short enough to act as a signal bar. Sometimes, the outside bar can be so long that I miss the setup completely. How would you handle situation like that ?


Thanks.
 
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moonmist said:
Hi Handle,

I agree. Trading involves different kinds of trade-offs. We all have our likes and dislikes. Usually, I do not like an outside bar to be the entry bar. I often wait for the outside bar to close, and then decide whether it is short enough to be a signal bar.

For example, a double bottom was formed at an upsloping trend-line on the one-minute chart of crude oil between 14:13 and 14:16 PM Eastern Time today. If I accept an outside bar to be the entry bar, the long entry will be one tick above the prior bar at 60.73. In this case, the eight-tick outside bar was short enough to act as a signal bar. Sometimes, the outside bar can be so long that I miss the setup completely. How would you handle situation like that ?


Thanks.
More...
If you have an upsloping trendline in an uptrend, your entry should be the trendline, doesn't matter to me if highs were made first. While you might be getting in, I am taking profit or half way there. Only rules I have about outside bars are they not good to use as pivots unless one or both side have other S/R and if it is highest high or low, I have to wait for other side is equal of broken before I can resume taking same trend trades.
 
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