Yukoner's 2015 Psychological Journal

[J_Smith]

After replying to H123, to whom I wish a speedy recovery, I looked up some old pdf's in relation to self healing, mind control, etc, etc,etc, most know the plot by now.

There is one fact that stands out very clearly, that which no one can deny, being that before we react we must first think. I have purposely said react, as involuntary actions are common and I do not want to start some silly debate in relation to nothing.

Accepting the fact that we must think before we react, then it stands to reason that whatever we think about is going to have an impact on our actions.

If we think the same thoughts, then, surely is stands to reason that we are going to react the same way!

J_S

 

[Redneck]

RN,

No. I have been hit with rubber bullets, single shot and machine gun fire, each time I have been injured, sometimes very seriously.

Hell, I was even hit by a sherman tank a few times, and still lived to tell the tale!

I like the way some posters use abbreviations for their names, so I think I will start signing off as JS. It does make it that bit more personal and polite, which is the way it should be.

JS

I'm confused

One one hand you say;

"No": - meaning you're not bullet proof


On the other you say;

"And still lived to tell the tale"

Which sounds like you are bullet proof - very cool

So the real question;

Chart make you that way - you your mind set



Oh Ye differing with some of the psychology stuff


RN

 

[J_Smith]

Why do I feel a good argument coming on

RN,

I do not want to confuse anyone, for I don't think I could even if I tried!

I do not consider myself bullet proof, for if I did, then I would have to win on every trade, which is just not possible. If you are aware of those silly online games, you will see the silly soldiers running around looking for the magic little packs that brings them back to 100% life. It is wise to make sure you have enough little packs spread around the place, for you will definitely need them if you want to take money from those who have it to give away.

What has made me this way, simple answer actually.

I was a big fool long enough :eek:

L_S

 

[Redneck]

Just a healthy discussion J_S..., arguments are useless

Why do you think bullet proof means never having a loss (conversely have to win on every trade)

That's crazy talk imo

I have losses all the time

RN

 

[Redneck]

Accepting the fact that we must think before we react, then it stands to reason that whatever we think about is going to have an impact on our actions.

If we think the same thoughts, then, surely is stands to reason that we are going to react the same way!

J_S

Agreed - until mindfulness employed / implemented - then what ever one thinks simply doesn't matter

We simply act in our own best interest

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

Doesn't matter what one thinks - only how

Doesn't matter what one thinks - only what one does


RN

 

[J_Smith]

Ok RN, we will call it a healthy discussion, and I see I made a mistake again, damn, have to get used to these abbreviations!
To me it bulletproof meant what i said, to others it can mean differently.
I must disagree with your last post;
"Doesn't matter what one thinks - only how"
I would say it matters greatly what one thinks about, as I believe that your thoughts control your reactions, as mentioned.
Thus, in order to progress, it mite be wise to review what you are thinking about against your results, and look at changing what you are thinking about in order to change (improve) your results.

J_S

 

[Handle123]

Thank you for all notes of speedy recovery through here and PM, I have other factors going on besides cancer. Just tough when drugs give me the jitters and trade heavier than I ever wanted with finger tapping mouse in rapid session or get it to walk somewhere and fall flat on my face and be dizzy, now have 24 hour staff for next few weeks. I got into Bonds sell trade Friday after report and must of rapidly hit mouse several times, have noticed this other times but not a where much when one is concentrating.

Yukoner doing good, got losses under $500, saves drawdown. Just have to start thinking profitable trades, think you making this far harder than it has to be. Mental is like 95% and 5% trading system. So I do believe something might be wrong here, really good methods do have small problems dealing with mental that usually come from childhood, like "am I worth making so much money, or I am trading to show others I am a day trader, or I told my wife I could finally do it", many times I have seen traders get to where they making money then stop and sabotage themselves to go other way. It not like you never traded bigger money before I just don't know if your method has enough rules to stop you from taking obvious low percentage plays when price is showing slowing down. Where in trend are most of your losses happen and where does most losses occur during hours, some parts overnite are good and some bad.

 

[Redneck]

To me it bulletproof meant what i said, to others it can mean differently.

Yup - when one bullet proof - they certainly do get shot (lose) repeatedly - yet remain unscathed

I must disagree with your last post;

"Doesn't matter what one thinks - only how"

I would say it matters greatly what one thinks about, as I believe that your thoughts control your reactions, as mentioned.

Thus, in order to progress, it mite be wise to review what you are thinking about against your results, and look at changing what you are thinking about in order to change (improve) your results.

J_S

Certainly..., reviewing (thinking about) what one is thinking about..., is important - no more so than while trading - obviously beneficial off hrs as well

This is mindfulness personified - and feeds directly to how one thinks (a transition from thinking..., to..., thinking about / altering - what one is thinking)

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

I believe you would agree..., it not necessary to act / react on one's thoughts - ever

Desirable at times - of course...., prudent at times - certainly...., but never necessary

Then of course (and unfortunately) there are the folks who act / react detrimentally to their self / others - out of detrimental thought - this not necessary either


Once (and only if) one comes to the realization thought is separate and apart from any action one takes - then what one thinks is of no consequence - only how

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

When trading - it only matters what we do anywho


Good discussion

RN

 

[Yukoner]

Hi Yukoner. I've been following your thread and am quite enjoying it and I wonder if I may ask you a question.

You say that you have a thoroughly tested trading plan, and since this journal is about psychology, the difficulty that you're trying to overcome seems to be simply trading the plan as you should.

So going forward with this, do you ever go over the day to see what the profits might have been if you just followed the plan? I'm not sure what a completely rock solid trading plan looks like and if it should be so automatic that you don't really have to make any decisions in real time. But if your plan is specific enough, then should it be possible to just look up any old chart and figure out what the profits would have been if you just followed the plan that day?

Perhaps the plan does have a little bit of wiggle room and some areas might be open to interpretation, meaning that if this exact same day repeated twice, months apart even, you could have two different outcomes but still say that you traded your plan as you should. But other than this, should it be possible to figure out how the day should have gone if your rules are specific enough that you can mechanically apply them to the data at the end of the day?

Hi KP, first let me say thanks for weighing in on my journal, always appreciated. The points you raise are valid. So let me answer them.

1) Yes, I often have tracked trades to see where they ended up. For months, I used to screen shot every trade and adjustments along with journaling my "feelings" as that trade progressed and why I adjusted it the way that I did. To me it became more important to see where the trade would have ended up, than on where I exited. (Then I reviewed them at the end of the day, and all of them over the weekend)

2) The trading plan does have some wiggle room as you call it, because it allows for increased volatility. It isn't as simple as just risking 10 ticks and always going for 20 tick gains. I am placing stops at locations that would invalidate my working assumptions and I am exiting trades based on market structure, such as a high volume area for example. All the information I use for this is objective and robust, so that it will work in any time frame.

My challenge, as you probably know, has been with sticking to my trading plan and not allowing the emotion of a winning trade to highjack me and exit it early. It is easy to discuss in theory sticking with plans, and doing what you are supposed to do... but when you are down for the day, and suddenly you have a great winning trade on that right now if you exit could bring you back to breakeven (but that is the incorrect action), well, it is a struggle to trust your plan and continue to let it work. I think that is probably natural.

Hope that answers your question.

 

[Yukoner]

Thank you for all notes of speedy recovery through here and PM, I have other factors going on besides cancer. Just tough when drugs give me the jitters and trade heavier than I ever wanted with finger tapping mouse in rapid session or get it to walk somewhere and fall flat on my face and be dizzy, now have 24 hour staff for next few weeks. I got into Bonds sell trade Friday after report and must of rapidly hit mouse several times, have noticed this other times but not a where much when one is concentrating.

Yukoner doing good, got losses under $500, saves drawdown. Just have to start thinking profitable trades, think you making this far harder than it has to be. Mental is like 95% and 5% trading system. So I do believe something might be wrong here, really good methods do have small problems dealing with mental that usually come from childhood, like "am I worth making so much money, or I am trading to show others I am a day trader, or I told my wife I could finally do it", many times I have seen traders get to where they making money then stop and sabotage themselves to go other way. It not like you never traded bigger money before I just don't know if your method has enough rules to stop you from taking obvious low percentage plays when price is showing slowing down. Where in trend are most of your losses happen and where does most losses occur during hours, some parts overnite are good and some bad.

@Handle123 thanks for giving us an update. I am really going to weigh in on your words, and consider them some more. The part about "Am I worth it?" does resonate, so something I need to explore.

I do have one question for you, with your current health challenges and on the drugs, why do you continue to trade the markets?
For myself, 2008 was living in South America, laying in a private hospital bed with an IV in my arm... and I was still trading on laptop. Crazy, but I felt like that was what I needed to do to provide for family. Worst decision ever! The moment they put me on those drugs, I should have stopped trading... everything changed... my brain was highjacked by little white pills for about 4 months... I just didn't know it.