As my wife just said, "if you have a target why did you move it ? " Maybe i should talk to her more often about trading. I did not do my job properly at all today. Oh well, review later and back at it stronger next week.
What kind of I don't give a fuck attitude is this May not bother you..., but it does me..., for you Trading is strictly pay for performance - yet you blow off not performing well Is this a game to you If ever there a time YOU - should be jumping your ass - it's now ============================ Care to clue me in...., because I am completely confused RN
yeah it bugs the shit out of me but I 'm trying to let go. its inexcusable my moving a target. been reviewing in my head all day. on one hand I think Ok 1 bad day -27, but you 'ge been doing well so no worries. the other hand is Jesus man we just had this conversation about targets. believe me I'm trying to get myself out of the process
As it rightfully should bug the shit out of you No plan = easy to move the target With a plan = impossible to move the target (unless it part of the plan..., or..., you purposely break the plan) ================ And now - my soapbox Trading is strictly pay for performance Traders get paid solely for our performance One’s PnL…, after a given trade…, or at the EOD…, is not our performance…, nor indicative of our performance – ** unless there is a moderate…, to significant – loss Nor…, can a trader judge…, their performance …, for that day…, from their PnL ** IMPORTANT FACT; If a trader performs correctly – unless some SHTF (act of God) incident occurs – moderate to significant losses should never occur =========================== How one…, conducts one’s self…, throughout the day…, while trading – is one’s performance How precisely…, and exacting…, one follows the routine(s) (uhh trade plans) – throughout the day.., while trading – is one’s performance ========================= Mistakes you are making – and have been for quite sometime Not following the damn routine(s) Hell…, not even creating the routine(s) (trading plan for each trade / then following said trading plan…, to the letter – to fruition) Trying to let go of the wrong thing – your performance Not owning your performance in the first place Equating how you performed – to the EOD PnL (this is a form of trading one’s PnL…., and absolutely no form of trading one’s PnL is ever beneficial) Admittedly maybe I fucked up…, and fucked you up – when I showed you mine If so – I am sorry Now..., we must get you past this Get past the money…, and focus solely on doing your job Own..., doing your job correctly (as a trader that is all we have – that is all we are) Own it…, become it – only then can / will you do it (perform correctly) ========================== You equate (27) – to 1 bad day You had a series of bad days (of not performing properly) Problem is…, you’ve been randomly getting paid for your suck ass performance Then equating (interpreting) those positive pay days – as; HEY…, I’ve done a good job (performed correctly…, and well) You haven’t The axiom; Trade well – win…, lose…, or draw aka Trade well (perform correctly) – fuck the results (the resulting PnL) ================== You want to be a trader / You want to break the cycle Start being 100% accountable to yourself Start owning 100% of your actions (performance) when trading Start being 100% accountable for YOUR performance (actions) Stop focusing on the results (the PnL) Stop equating your performance to the resulting PnL =========================== How we act (perform) – while trading – defines us absolutely - as a trader Whatever resulting PnL – is simply a byproduct – of how we performed Trading is strictly – pay for performance PnL is not..., nor can it ever be..., a gauge – of one’s performance We have no control / nor influence – whether any given trade results in a winner…, or a loser ============================= Now…, get yer head out of your PnL’s ass Get focused solely on how you perform each day / each trade Own…, and become accountable for – your performance – each day…, each trade Start performing properly; * follow the routine(s) * make a plan for each trade * follow the damn thing – to the letter..., until exiting Only way this hideous cycle you’re in currently - ceases Only way you become a trader Only way consistency is achieved The only way ==================== And never try to let go of YOUR performance The resulting PnL – yes..., let go of that (we have no control / nor influence whether any given trade wins…, or loses) But we have total control…, over how we act (perform)…, each and every day…, each and every trade Never…, ever – let go of that ============================= Yup..., this post is quite redundant – because; I am attempting to drive a point home…, and drill it into your head Start acting (performing) like a fucking trader Laying down and rolling over - ain’t it (the “oh well”) Start owning your performance (actions) – every day – every trade Stop equating good trading with whatever resultant PnL (the two are mutually exclusive) Let go the money aspect Grab onto…, and tightly hold yourself accountable for – how you conduct yourself – during each and every trade RN
Thank you. Extremely, extremely well said. Since i've started this journal I've always approached trading as a process of learning and gradual improvement. Like learning an instrument or sport. I still think the skills/knowledge of trading are acquired that way. I assumed my discipline would follow the same path of gradual improvement. Now, I'm realizing my discipline needs more of cold -turkey do it now approach. No gradual. Follow the plan and sit through whatever unease it may bring right now. My skills/knowledge will continue to gradually improve but there's no reason not to be disciplined 100% right now. My errors are not due to ambiguous rules. This is the easy part of the plan. There's no reason not to follow it. I need and will expect more from myself, be tougher on myself. I'll try more self-talk out loud during the trading day. This has helped in the past. I'll try standing up during the trade, away from the screen. I have a grade the trade discipline worksheet i'll start using again. I think I've got notes on mental management I've written before. Going to review and update the "Items to focus on". I probably do think too much about PnL (I don't think yours or anyone else's has influenced that) jas
Okay J Tomorrow is a new day Either we continue doing what we've been Or..., we start fresh and change ===================== The things we must..., are pretty simple - it our head that complicates Start each trade with a plan - then execute it Yes..., it may be painful - but that isn't the mkt's doing It's us..., fighting our self Fighting for control..., fighting to do something - when there really isn't anything to do The trade is on..., the plan set - we must stand pat and allow it to come to fruition - win or lose ====================== Get some rest..., clear the ole noggin Tomorrow..., we trade - as fucking traders RN
Thanks, guys ! ====== I've been thinking about the rats Nodoji has talked about. You know, the experiment with the T-Maze and random reward but biased to favor the left. Rats figure it out quick and always go left getting the reward 60% ** of the time. Humans in same experiment try to out guess or find patterns or whatever and underperform the rats. I've been trading like a damn human. Time to trade like a rat. ** I don't remember the actual percentages
I'm proud of my trading today. Not without error but the keys I was focusing on today I accomplished. I lowered my targets based on S/R , which is allowed, and I kept them there. No increasing or changing targets. Error was improper stop placement which caused loss and mild frustration which I recognized and quickly walked off. Big thing today was to be patient , take in plan trades and accept reasonable targets. I did all that and was paid accordingly. ===== And as an aside, discipline begins when the alarm goes off. No more lie there for 5 more minutes, no more lie there and check Yahoo News. I'm pushing myself out of bed. 1 for 1 so far.