I'll do more review later and maybe another update. (got a friend in town. doing lunch soon) After the fact appears it was a slow pre-holiday range market. For my first series of trades I had a couple full stops, some late mouse click/bad fills and a nice trade to target that didn't fill so got BE. And yet I stayed calm and patient. Overall a fine day. I need to review one of my pullbacks entries I take that I probably should not be taking. Good job avoiding chop. Except for yesterday it was a solid week. That really bugs me. No surprise it was fatigue related. Fell asleep last night about an hour earlier than normal. Heading to the beach soon for some beers. Going to celebrate 3 weeks in a row of profits, some good patience and improved discipline on not moving my targets. +9 ticks in CL today you all enjoy the long weekend . talk to you soon jas
I have my mini frig, blender, fruit, ping pong balls(they don't make as deep holes in walls) and Keurig in my office. I never leave and have small cat door and regular door stays locked, cat don't make arguments cept when out of catnip. Nice triple bottom before huge run up, but I got done much earlier. Jas, when you don't shoot yourself in the foot by making changes, amazing what you can do. Congrats on another PROFITABLE week.
Yeah..., you watch - he's going to keep jacking around..., and become an actual trader Happy - Safe - Fun - and Restful Weekend All RN
That was actually my first "have a plan and do it" success. It goes in cycles, but for a while CL was 80% of the time retracing whatever the reaction was to it's weekly report on Wednesdays. So after 3- 5 min it would retrace all the way back to before the report and then it would go the same amount -- in either the same direction or the opposite. Sort of a double fade. CL did that for months, and then the pattern changed (became less reliable). I really admire J for the changes he has made. Saw this TED talk and was reminded of the change he has made. It is just 10 min about how we make decisions. There is one part about how after losses it takes our minds longer to make a decision. Interesting. Everything she talks about has direct application to trading IMO. After this I understand better that time when I would lose 5 ticks, lose 5 ticks, lose 5 ticks, and then it goes 10 ticks in my favor and I take it because I might lose even that… and then watch it continue on 50 – 100 ticks in my favor. I would sit there with a good plan and a 5 tick loss for the day. The effort to think differently after a loss reminds me of what RN has been teaching and J has done and is doing. Perhaps it is the kind of thing traders who succeed do and those who quit don’t quite figure out. It is a certain kind of mental work. Keep after it Iwilldoit...
Thanks Hooti, great video. i agree it definitely applies to trading. Another one that helped me was hearing about Prospect Theory. My understanding is it states "One becomes more risk seeking after a loss and more risk averse after a win" Which explains why one does revenge trading and cut wins short. By knowing these are common problems, innate I suppose, we can be more aware or build a plan that will help overcome these biases. Hooti, I have much respect and admiration for you as well my friend. You've put in the hours and difficult work. Congrats to you and your success ! jas
Thanks Hooti. You better believe I will keep after it. I am currently backtesting/optimizing a personal version of @Handle123 's simple 9/18 ema model. Then I will start my own journal. All the best you! and this Journal by @jas_in_hbca is very inspirational, I love seeing amateur retail traders become successful.....just shows if you work hard and be focussed then you can join the 5%'ers. Great long weekend to everyone.