I just dont get it !!!!

Discussion in 'Technical Analysis' started by cashclay, Jul 22, 2015.

  1. k p

    k p

    Wow.. that is quite the list... it almost sounds hard to have to put it all together! :D

    This above part is really the hard one to focus on, but I know its the way it has to be. Since I can't control what happens after I put on a trade, I can only control what I do about the things I see. Its difficult to almost not take it personally when a trade doesn't work out since it makes me feel as if I did something wrong, but I know that the sooner I get this shit out of my head the better. Focusing on just doing the right thing should have the money aspect/profits take care of them self.
     
    #61     Jul 26, 2015
    Redneck likes this.
  2. cashclay

    cashclay

    KP do you do anything mentally before you begin to trade. i too have heard how important the mental aspect of trading is. Someone told me that they go for a 30 min walk right bebfore the market opens to clam themselves/.
     
    #62     Jul 26, 2015
  3. k p

    k p

    Nothing really. I just try and make sure my mind is clear. I don't look at any news, just the charts. I mark my levels from overnight and previous day, and perhaps try and develop a bias. Not in the sense that I want to lock my mind into this... but if say we open close to the overnight night, and lets say the close the day before was 20 points lower, my first assumption might be to fill the gap. Then right from the open I try and look for price action that would dictate weakness, and figure out a way to get into the down move. I am always always always trying to keep at the forefront that anything can happen. Even when everything is happening that I expect, I still think that anything can happen.

    At the same time, because anything can happen, I try and think of where I would like to get in, given that anything can happen. If I think price will break out of a tight range, the place to have gotten in would be at the bottom of the range for a long. If I try price will drop lower, the place to have gotten into a short would be at the top of the range. So keeping in my that anything can happen, if I want to be long, I figure its best to be long from some low point, and likewise, short from some high point. This way, since anything can happen, if a tight stop is taken out, it shows me that the market really isn't moving in the direction I thought. Its not easy to do this mind you, but waiting until you really see the move is the worst place to get in, so I have to think and act differently than everyone else.

    But to more specifically answer your question actually, I just feel like I should have the power over myself to just put myself into the frame of mind that I need. I could be wrong, but I feel that if I need to take a 30 min walk and spend all that time to calm down, then this tells me I don't have control over myself and I need all these outside influences to help calm me. Perhaps its a good way to learn initially if I don't even know what this calm state feels like, and hence I don't know what I'm looking for, but I think that its ideal to be so in control of yourself that with the snap of my fingers, I can say enough is enough, push shit off to the side, and focus on the task at hand. I have to own the control I have over myself and not relegate it to some calming 30 min walk, as if to say that chirping birds and the smell of flowers is somehow responsible for clearing my mind. If I want my mind to be clear, I clear it. I'm not an alcoholic, nor am I a woman stuck in an abusive relationship, but I can imagine that the alcoholic only stops drinking the minute he hits rock bottom and really wants to change, and likewise, the abused woman finally leaves for good after she has said she won't let herself be hit even once more.

    I guess what I'm saying is that I think its a choice in some ways. If you choose to start the day distracted, you will be. Nothing wrong with being distracted, and if you are, the proper choice is to stop. But I think all of these are choices, and I can make up all sorts of excuses, which I have done so much in the past, or I can make a choice to stop the bullshit.
     
    Last edited: Jul 26, 2015
    #63     Jul 26, 2015
  4. Sergio77

    Sergio77

    Big money fades all...
     
    #64     Jul 27, 2015
  5. tandh

    tandh

    I call bluff to everyone who can't show something before the fact.
     
    #65     Jul 27, 2015
  6. SunTrader

    SunTrader

    No kidding. Without concerning themselves with what the little guy is doing or not doing.
     
    #66     Jul 27, 2015
  7. SunTrader

    SunTrader

    You got it.

    I say someone, don't know who particularly, will depress the button for NYSE closing bell today @ 3:59:59 pm. Give or take a millisecond.
     
    #67     Jul 27, 2015
  8. tandh

    tandh

    And Sun Trader, you can prove to every one that you do know when the NYSE closes. No one has to wonder.
     
    #68     Jul 28, 2015
  9. And that is where the good traders are taking the other side (as they notice the "trap" set), taking money from your account and putting it into theirs (just in case you were wondering who the hell would take a trade against a classic textbook) :confused:
     
    #69     Aug 3, 2015
  10. What about momentum trades? Surely these good traders aren't going against momentum just to steal my lunch money, are they?
     
    #70     Aug 4, 2015