Yukoner's 2015 Psychological Journal

[monoid]

Ahhhh..., we've know each other for such a very short time - and yet you're already asking me to break the rules

I was not asking you to break the rules, but wanted to see if you follow your own rules!

Aside; (my take on high probability signal(s) )

No matter the context surrounding the next signal I trade ... No matter if the Good Lord himself..., came down and told me - to my face - that this next trade is going to be a winner

Every..., and I do mean every - trade..., only holds a 50 / 50 shot at working

That is the extent to which I have embraced uncertainty (I live and breath it to my core)

Lot of food for thought! Thank you.

From this point on - you are MO to me - hope this is agreeable

An honor, Mr. Redneck.

Regards,
Monoid.

 

[Redneck]

Trading today was tough.

Looking back I can only describe it as weird.

Through all the whatever went on today - you dug your self out

You..., Yukoner..., kept fighting..., kept your head about you (mostly..., and even then..., when things went south - you regrouped )

And went from

>(400) to +3

That is good trading - period

RN

 

[Handle123]

Day #25 (Baby Step #6) Slept well, and woke up ready for the day. Overall felt pretty good about the day, but reminded myself that overconfidence can hurt just as much as fear. So took the time to remind myself of my methodology and focus on the process.

Trading today was tough. Looking back I can only describe it as weird. I would put a trade on, a bit of follow through and then only to get stopped out. But I kept writing down those checkmarks, and I kept reminding myself to stay focused on the process.

I actually got so into just taking the trades, that I was completely not paying attention to my P&L (which is a rare thing). So before I knew it, I had traded over my personal daily loss limit of $400 and then back down again. I'm not really happy about that, and I need to work out some type of way to safely monitor this without affecting my trading. I was just taking the right trades, even though many of them didn't work out.

At times I could feel frustration hit me, and the temptation to try to deviate from my plan, but I kept having to realign myself to stick to my trading plan. Then I got tired, and I figured tired isn't a good thing... so I stopped... I took a break and didn't come back until I felt rested up. I am pretty happy about that choice.

Twice I also tried adding to the winning trade, as per my plan, one more contract as long as I keep the original risk about the same. It was interesting, as the first time my heartbeat just jumped up... but the second time I was able to stay much more stable, and just do what I was supposed to do. Neither of them worked out, but it was the correct trade to do.

I traded more than I usually would, but they all have checkmarks. It really is amazing how that simple process forces me back to ground zero to keep examining if I am trading correctly.

+3

That a boy, you are REALLY starting to learn by your past mistakes, you got tired and didn't force it, You stayed away from knowing your P/L, your overcame frustration and stayed the routine. Adding and knowing the risk was outstanding. And the BIG HELLO was you came back, this was by far your best day ever in my book.

Trading is about keeping emotions in check, making it routine, we not here to have a good time, we here to put in our time of work. FAR OUT DUDE!!!!

Ok, tomorrow another day of the same crap, no one gives you a pat on the back for yesterday, what can you do for us today.

 

[Redneck]

but wanted to see if you follow your own rules!

Regards,
Monoid.

The why not just ask - straight up


Do I follow my own rules - Yes

Am I human..., do I fuck up..., do I sometimes break my rules - Yes

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

When it comes to trading - I don't care for games


When it comes to honesty / to being straight up - that is priceless..., and more precious than life itself

RN

 

[Redneck]

That a boy, you are REALLY starting to learn by your past mistakes, you got tired and didn't force it, You stayed away from knowing your P/L, your overcame frustration and stayed the routine. Adding and knowing the risk was outstanding. And the BIG HELLO was you came back, this was by far your best day ever in my book.

Trading is about keeping emotions in check, making it routine, we not here to have a good time, we here to put in our time of work. FAR OUT DUDE!!!!

Ok, tomorrow another day of the same crap, no one gives you a pat on the back for yesterday, what can you do for us today.

Yukoner

The above is trading

It ain't perfect...., and lot of times it ain't pretty..., and most times - especially in the beginning - it ain't easy

But you did your job today


Tomorrow - we'll do our job again


RN

 

[monoid]

The why not just ask - straight up


Do I follow my own rules - Yes

Am I human..., do I fuck up..., do I sometimes break my rules - Yes

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

When it comes to trading - I don't care for games


When it comes to honesty / to being straight up - that is priceless..., and more precious than life itself

RN

I was just being a smart ass. Sorry didn't come thru. I apologize if I had offended you -- not the intention.

Anyway, we both have very different philosophy about goals and uncertainty when it comes to trading. My set of questions were to understand you, your point of view. It is always educational to me when talking with other traders to understand their views -- helps me evaluate errors in my thought. Also, it gives me new ideas to ponder about, which, in my opinion, can only be good.

If I had asked you the question -- do you follow rules, the answer does not provide any insight about your thought (although would about your mental strength, which I am not interested). The reason I asked the questions I asked you were to understand your thought on those topics -- not necessarily to copy or to agree with them.

Since, in your response, you were not interested in my opinion (I see no reason for you to be interested in it, in the first place), I did not consider writing them in my post especially given that this is Yukoner's journal.

I have a high regard for your thought, Redneck, for they ooze with experience and careful analysis -- this will not change if you are pissed off at me or not! I am here to learn, and in that process if I piss off someone, it is my fault, not theirs; I need to mind my ways.


Regards,
Monoid.

 

[Redneck]

MO

I'm not mad / not offended / and not pissed off

Honestly.., not sure what I feel

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

We come on here (here the forum / not necessarily this thread)..., and in attempt to get a handle on this trading gig

Lay our soul bare..., expose every bit of inadequacy..., every bit of our fears..., every bit of our insecurities..., every bit of what causes us to not be worthy


To be honest - we must be honest - with our self

To be a trader - there can exist absolutely no dishonesty..., no games

It so very easy to delude our self..., let alone others - it far and away too easy

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

Ask me anything - I'll tell ya straight up - up to and including - when/ what I don't know

And believe me - there is much more I don't know..., than what I do

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

You want to dig into how I think - just say so - I'm incessantly curious about how I think... and why I think the things I do

I have spent..., and continue to spend - more time..., more effort..., more money..., and more importantly than the rest (and unfortunately) - less quality time with my family

To get..., AND keep my head screwed on straight - than I ever will on my trading tools / platform / whatever

You wish to discuss it - cool - its been built / tore down and rebuilt - more than I care to think about

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


As traders - honestly is the only thing we have..., and the absolute very foundation - everything else is built on..., or crumbles around due to lack of

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

On another note;

I've already, in another post, stated I'm interested in what you have to say - why hold back just because I didn't repeat that here

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

Share your thoughts; Yukoner doesn't like you doing so - he'll speak up

His journal is about psychology..., his..., as well as ours - gives him an appreciation that he is not alone in this mental mind fuck called trading

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

Anyway - we're cool



And even after saying all this - I still don't know (can't verbalize) how I feel about it

RN

 

[monoid]

MO

To be honest - we must be honest - with our self

To be a trader - there can exist absolutely no dishonesty..., no games

It so very easy to delude our self..., let alone others - it far and away too easy

There is nothing I would disagree here. Honesty -- an absolute foundation!

Please allow me to give you an example of what I find in your analysis that I don't find very often even in very accomplished traders who write here. I don't mean this as a way of offending other accomplished traders here in ET, but as an example of why I enjoy reading your analysis. This is a counter-example to make my point:

Take Handle123's post here today: He commends Yukoner for doing a great job of not looking at PnL; He also commends Yukoner for pulling out of the hole he was in.

In my analysis, these two points are not compatible: If we ask someone not to be concerned about PnL then, we should not commend them for pulling out of the hole. But, the truth is that we are concerned about PnL, and pulling out of the hole is important. So, this disconnect can be only addressed if one acknowledges that PnL is important to consider. But the question is when does one consider PnL? We are all in agreement that PnL should not be looked at during a trade; so, it follows that PnL has to be looked at after the trade is over. However, one cannot wait for post-market analysis to view PnL for one has to be concerned about daily loss limits. This was precisely Yukoner's concern and issue (although not framed this way).

In many of your analysis, I don't find these types of inconsistencies, and hence my respect for your opinion over other successful traders.

To Handle123: I sincerely apologize calling your post out. Every post of yours tells me that you are a very successful trader. I do not mean to undermine you in anyway, but was just making an analysis of your argument. If I have over-stepped my boundary, I am sincerely sorry. Tell me so, and I will delete this post.

Regards,
Monoid.

 

[Redneck]

Obviously I'm not H123 - but I can assure you he's cool (H123 you disagree - speak up )

He and I have discussed what we do on a couple of occasions

And to question is not disparaging - when it to seek understanding

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

You say I have everything in aliment - LOL - I assure you it not by accident

That is how my mind works..., that is how I trade (purposely built both that way)

Started at the bottom - built it up - one layer at a time..., each layer supporting the next - and all of it working together (in alignment)

Anyway

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

PnL

I think we can agree becoming focused on PnL - to whatever degree - not good

Trading PnL - in any small way..., and not total focus on trading price - not good

There are techniques that can be used as a surrogate

Track ticks/ points - captured / lost

Tack W vs L

Create some other way of tracking

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

What I do - objectively (mindfully) view PnL as a counter / gauge

I do glance at it throughout a session..., even a trade - but dismiss it nearly as quickly and get back to trading

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

But unless one go cold turkey - how does one become detached

Hence my incessant stance

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

To focus on the routine - and not the outcome - is the absolute right way to trade

But how the hell to get one there... whose never seen the other side consistently????


My thinking - rip it away (go cold turkey) - then slowly build back in to it..., and only build to the extent necessary (whatever it happens to be at this particular point in time)

I'm also a stanch proponent of KISS - with all things trading related


RN

 

[Redneck]

For the mkt - tomorrow is a new day Yukoner

For us - nothing changes

Well.., we have work to do..., may as well nut up and get to it

And in the meantime.....

If / when our emotions pop up - which they do..., and will;

We recognize em.., we acknowledge em..., we set em aside... we then observe em

WHILE/ AND/ THEN

We get back to work

Only matters what we do - nothing else

And as always - fuck the results

RN

RN