BTW - just confirming Murphy's Law for everyone. I have had a number of opportunities today that fall within my risk levels. I go through this for 2 weeks and the day I post something the market makes a liar out of me
Greeting Again Dp, You Said: "I have had a number of opportunities today that fall within my risk levels. I go through this for 2 weeks and the day I post something the market makes a liar out of me." Response: Yeah,…I hear Ya! But remember,…..that too is part of the PROCESS! And also why it is extremely essential to keep an "OPEN MIND" when observing "THE MARKET"…and observing "ONESELF"…..always take COPIOUS NOTES of both! “Our Beliefs are always revealed by our actions, because our actions are always consistent with what we believe. If you want to see what a Trader believes, just examine his actions,.....especially true if the Trader is YOU!” Big Shit Eatin Grin.... KDASFTG
There's a lot of work implied by following that quote through to its logical conclusion....... Thanks as always
Another update. I've started to grade my performance in a much more measured way recently. I always review my trades at the end of the day but I have never actually done so to this extent. It was usually a less structured holistic view of the days trading. But from this shortened week onwards I'll start grading things such as Execution, Trade Rationale, Trade Management and most importantly Psychology on a 1-10 scale. It will be interesting to see the numbers progress! I have my trade metrics (MAE MFE etc) which I review quite often, but to have a defined scale of metrics for MY performance is something I haven't captured seriously to this point. As MD would say my results reflect my present level of development. So in order to track my improvement over time, I need to measure my performance.
On a personal note. Now that Abbott has been removed as PM of Australia, I can finally move home Now I just have to convince the wife
Have to start posting more Just read something on @slugar's journal from @Handle123 and @Redneck re: how people with journals don't post as they are worried about getting knocked down. I'm guilty of that I was advised to not go live with one contract months ago by people I respected here and it took me ages to get over it. All my bad. My fault. What I know now is that it is all up to me. I wasted years looking at forums for the answer rather than believing in myself. I just needed to grow a few testicles I realise now there is a difference between learning from others and depending on others. There isn't a magic number of threads that you can read to beat market uncertainty; that has to come from experience. I'm nowhere near where I want to be as a trader but I am finally standing on my own two feet when it comes to the market and my results. So I guess I should start posting my trades..... If I believe in what I'm doing enough to put money on the line then reading someones opinion of my trades is truly a lesser concern. If I can learn from others then it's worth any passing embarrassment.
So for the most recent update: A few weeks ago I posted that I had to stand back from the volatility as it was outside of my risk tolerance. I still stand by that, as I was concerned about changing my trade plan as soon as the market changed. My reasoning being that it was a slippery slope, and sooner rather than later I wouldn't recognise the trade plan I had spent so long creating. I didn't need to change my trade plan, the essentials of my trade plan/guide are as relevant in the market we are seeing at present just as much as those that I backtested. I just needed to grow a big pair of hairy testicles, put on my big boys pants and believe in myself. And the result? I'm looking at the best trading week I've ever had. Instead of gains from sim trading, or that self-hatred at the close of the day because I didn't do it live - I'm actually sitting here on Friday with (to quote @KDASFTG) a big shit eatin' grin on my face. I'm not trading in size. I did my first 100 trades on 1 contract to validate my plan / guide and I've done that. To my mind I've passed with flying colours. More so on the psychological front which to be honest was always the biggest issue with me. But not only that, I've done this in an environment that is so far removed from the one that I tested my plan on. That's probably the reason for the grin Apologies if this sounds like I'm gloating. It isn't the intention here. Anyway - come Monday it starts all over again. I'm not scared of it anymore. Crazy that I should have felt that way to begin with.... I know I'll screw some things up, and I'll do some good things. I'll make some money and I'll lose some money. Hopefully more than I lose But the most important thing is that I'll follow my process. Rinse and Repeat. Fin./
Finally - this is a piece of brilliance. Thanks @Redneck, sorry for the copyright infringement by posting it here. Wanted a record of this on my journal. Required reading on market uncertainty.
We now take a break from our scheduled programming for a Rugby World Cup 2015 update: Aus 33 Eng 13. C'MON AUSSIE! GO YOU GOOD THING!!!!!!! Life is good