Yukoner's 2015 Psychological Journal

[Yukoner]

YK,

Are you still trading 2 cars ? Using a daily total max. loss of 40 ticks overall ? If so, then 20 ticks a car max loss seems pretty tight. Might be contributing to stress. If, I'm wrong about what you're doing then... never mind

jas

Jas,

Still just trading 1 contract for now... all though if I get a buffer built for the day, I don't mind trading two.

YK

 

[Yukoner]

Yukoner,

It seems your pysch has become stronger, it is much tougher than most consider to abide by ones own rules, the TEMPTATION. But whatever your rules of the your signals are not happening. Could be not suitable to your personality, no harmony of market flow, do yopu notice signals to be what phase of the swing?

@Handle123 I am taking trades in those auction extreme areas were based on the market profile I am expecting movement to happen. That alone gives me an edge. I enter based on an area, and not necessarily a specific price number all though I will watch the DOM to try and scalp into a move.

Typically the trades start to work pretty quick, or I get stopped out. My risk varies from about 10 ticks to 14 ticks. Once in the trade, I am looking for a move to the next balance area or momentum area to exit.

So to answer your question, I am entering those trades early in the swing... trying to be in ahead of the crowd with a better price and lower risk rather than paying for confirmation.

And yes, my psych has become stronger. My hands used to shake when putting on a trade... and my heartbeat speed up. That is pretty much gone.

 

[Redneck]

Do you find any of those extraneous thoughts / emotions..., in any small way..., beneficial to your trading

Obviously the answer is; hell no"

My I suggest asking this question before trading every day..., and using it as impetus to quiet the head

So I moved forward to trade as normal, but I tried to just allow my mind to stay calm and tell myself to just let things work out.

That I had no idea how the trade would work out...

I just don't mess with it the plan.

Overall the day was good.

Checkmark.

my brain was quieter...

I find it really helps to focus on just doing the correct action.

Really good stuff YK - going forward - keep at it

I'm not going to try to defend that this new plan is the best way to trade, but right now for me...


I think it is very important that I prove to myself consistency at staying disciplined with a plan... zero deviation.


After that, I can upgrade.

That which I highlighted - is the only thing to focus on at this point


do it..., internalize it..., own it..., become it

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

My word YK - things will fall into place...., in a grand way...., once you - and that sentence..., are one


Good Job Today

RN

 

[Redneck]

@Handle123
And yes, my psych has become stronger.

My hands used to shake when putting on a trade... and my heartbeat speed up.

That is pretty much gone.

Recall back when I first started out - my hands and heart did the very same..., my hand also sweated like a $2 dollar hooker in church

Ahhhh..., the good ole days - my ass

RN

 

[Handle123]

Since days of never programming to now, I spend six hours thinking how to define to programmers and they write code and I spend about 2.75 total hours total day trading if that. If I don't/can't get out of bed for crude oil pre-market, then at up at 7:15, fifteen minutes before ES open drugs have kicked in enough I can get out of bed for 75 minutes of trading. It takes me 3-4 trades before fully waking up, am just on auto-pilot seeing and doing, if a signal comes in and can't slap you in the face, then you having to wish a signal to appear and those never make money. LOL they don't lose. I found somewhere in learning that most of my thoughts were dumb thoughts based on greed, greed loses most of the time, fear causes greater losses, no fear causes losses, dumb educated trader brings home the money. More brains you think you have, longer it will take to make money-I was smart once. Markets are always right, what you think don't matter, what matters is not whether you are right or wrong, it is who brings home the money.

Yukoner, bring home the money baby. Then you can do the Happy Dance.

 

[Handle123]

@Handle123 I am taking trades in those auction extreme areas were based on the market profile I am expecting movement to happen. That alone gives me an edge. I enter based on an area, and not necessarily a specific price number all though I will watch the DOM to try and scalp into a move.

Typically the trades start to work pretty quick, or I get stopped out. My risk varies from about 10 ticks to 14 ticks. Once in the trade, I am looking for a move to the next balance area or momentum area to exit.

So to answer your question, I am entering those trades early in the swing... trying to be in ahead of the crowd with a better price and lower risk rather than paying for confirmation.

And yes, my psych has become stronger. My hands used to shake when putting on a trade... and my heartbeat speed up. That is pretty much gone.

I understand the concept, in my own backtesting and study, could never get losing percentages low enough for trading. I do know a few traders who do well using, but very few. I have always found it very difficult to use Dome in normal sense in crude oil, after or pre market works better for me. ES works much better for me reading the dome.

 

[Yukoner]

PDay #3 - Slept in a bit, but woke up ready for the day. Again, my focus was on just doing the right thing.

My gosh, I have to say I was pretty tempted a few times... up 15 ticks, can't make any adjustments... stopped out. Checkmark that. Up 19 ticks, can't make any adjustments... stopped out. Gotta checkmark that. That little voice in my brain telling me how stupid this was, and that I should just trade this the "real way to trade"... so a couple of times, I had to just reign myself in... and remind myself that I was there to teach myself to stay disciplined to a plan.

My final trade my stop loss put me just over my daily loss limit, which was fine, but what wasn't so fine was watching the market stop me out exactly perfectly on the bottom and then rip higher.... of course, I wanted to just jump back in. Crazy, but me.... my brain... had all sorts of "reasoning" trying to tell me to continue to trade. Even though that wasn't in the plan.

Now here is what I am learning... like @Redneck says... my achilles heel is all that stuff floating through my brain while I am in a trade. There is ABSOLUTELY NO reason to break my rules while trading... I can change them after the day is over, and modify or try something new.... but during trading hours that is totally the wrong thing to do. So yea, this has been a good exercise to sit there and just stick with the plan.

And on that note... hello sweet weekend!

-442

 

[Handle123]

PDay #3 - Slept in a bit, but woke up ready for the day. Again, my focus was on just doing the right thing.

My gosh, I have to say I was pretty tempted a few times... up 15 ticks, can't make any adjustments... stopped out. Checkmark that. Up 19 ticks, can't make any adjustments... stopped out. Gotta checkmark that. That little voice in my brain telling me how stupid this was, and that I should just trade this the "real way to trade"... so a couple of times, I had to just reign myself in... and remind myself that I was there to teach myself to stay disciplined to a plan.

My final trade my stop loss put me just over my daily loss limit, which was fine, but what wasn't so fine was watching the market stop me out exactly perfectly on the bottom and then rip higher.... of course, I wanted to just jump back in. Crazy, but me.... my brain... had all sorts of "reasoning" trying to tell me to continue to trade. Even though that wasn't in the plan.

Now here is what I am learning... like @Redneck says... my achilles heel is all that stuff floating through my brain while I am in a trade. There is ABSOLUTELY NO reason to break my rules while trading... I can change them after the day is over, and modify or try something new.... but during trading hours that is totally the wrong thing to do. So yea, this has been a good exercise to sit there and just stick with the plan.

And on that note... hello sweet weekend!

-442

I have to say you are doing well for discipline, you have overcome problems you had before and usually this is the hard part of the half. Not knowing much of how you get in, it is very tough for vets to help you there.

Oh no, not weekend here, better start doing some work on the systems side of your trading my friend.

 

[harami]

My gosh, I have to say I was pretty tempted a few times... up 15 ticks, can't make any adjustments... stopped out. Checkmark that. Up 19 ticks, can't make any adjustments... stopped out. Gotta checkmark that. That little voice in my brain telling me how stupid this was...

You should listen to that voice and start trailing a stop once the price moves "x" ticks in your favor.

 

[Handle123]

These are very easy entries, well....at least for me. Do some back testing over weekend. Using approx. 10 tick stops or couple ticks beyond highs/lows of area, if more than 15 ticks, pass on trade. I shoot for 10/50 targets. Use time stops.