Some systems are geared for run and gun trend trading and I have them automated and some are for more of choppy environment like ES and pre-market crude oil. I use stop limit orders and not doing much volume, and in process of coding this method for this market. I am looking to not day trading much any more by end of the year. Been day trading three decades, just tired of it. Spending much more time in options/stocks and long term commodities.
Day #7 - Slept well, and went into the day feeling prepared. Went through my standard routine, and started off feeling, well, ready I guess. The day started off okay. I felt reasonably confident.... knowing what I was going to do. EIA, FOMC, I knew the plan. I did a trade early on, that I screwed up on... just closed it out cause I was scared... just reacted without thinking, and so I stopped... took a break, walked away... and then came back. Reminding myself that the market didn't care, didn't know, didn't matter.... I just had to trade the plan. Post EIA, I was reading the market really well.... still struggling slightly with the fear thing... but I was much more relaxed, all though I had a hard time letting trades keep working once I was up 25 ticks or more. Still just trading one contract, all though I was very tempted to add to a winning trade (correct thing to do), but I just wasn't ready for that yet. The thing is, once I am up a bit, and I have a buffer... I relax and usually I can trade much better. I am more in sync, not worried, and much more confident. Ended the day within 13 ticks of my high water mark... This is how I can trade. How I know how to trade. Now just need to repeat this again. My super focus over the next bit is to figure out what is causing this fear... +621
So interesting you say this... I asked myself something very similar this morning. Why am I doing this, and more importantly going forward.... What am I going to do differently? It's like there is a Jeckyl Hyde brain.... old brain wants to revert back to comfortable... new brain sees what to do, but has trouble trusting that path. Last couple of weeks, I took some steps backwards... not good, I need to admit to myself when I am worn out, tired, and not qualified to trade. Thanks @Redneck really appreciate the support and input. YK
Sure wish I could look forward to reading tomorrow's results YK But I stopped deluding myself some years back (it was either stop..., or quit trading) ============ Assume I'm from Missouri from now on -> and show me..., over a series of days Then I'll start looking forward to reading the results - but until then Except you don't YK..., you really don't No matter the amount RN
Most live a life of controlled chaos, world has no defined life expectancy, everything is predictions. Fear often is inability of control, your statement of "Reminding myself that the market didn't care, didn't know, didn't matter" equates to learning one word "Acceptance", some use rubberbands on wrist that when they get hyper-they snap band, some play music, some practice breathing exercises, yoyo always a favorite, forks thrown into ceiling another favorite, whatever to give one harmony to accept what we can't control, fear starts to creep away. Won't happen overnight and will never go totally away, fear comes to us much quicker than happiness, fear gives us subconscious emotions, coldness on neck, sick to stomach, cold sweats, headaches. Being consistently profitable within risk parameters we can tolerate is best way to start overcoming fears and accepting we can't control anything. What are your stats of which days you most profitable? I bet your best day is Wednesday cause increased volatility, yes/no?
Couldn't sleep, so I traded, just so many Rosanne reruns and Knife/Coin infomercials I can stand at 2:30am. Very nice moves in Euro and Crude. Unlike what most believe, profits is outcome of not losing, so concentration is my main Goal, only way to achieve is following your Trading Plan, doing the same boring thing day after day after day after day after day. You miss a trade, so what, they are like taxes, there be more coming around the Mountain when they come. Yahoo! Ok Starbuck time.
Before 9-11, last shop at airport going toward boarding planes was a Knife shop, huge knives and swords could be bought and taken carry on. I always found that funny.
I was up north a couple of weeks ago, going through the security in preparation to board my flight back home Had an unopened bottle of water in my backpack Security seized it.., swabbed it..., taped it - then threw it away After passing security check - I literally walked 20 steps and purchased the same exact brand and size of water for the flight Paid ~ $6.00 more for it..., than I did the original Pissed me off RN
Every single time I go through security, I get to go to the special line, I am 6'6" tall 275lbs and now with all white hair, am losing 10 months a month, so they take my suspenders and belt, I told agent I wasn't wearing anything underneath and pants size too big, LOL, this particular screening was missing the screening, told me to pick up my hands away from my pants or they would detain me even more, held up my hands and pants dropped. What a mess that was, women grabbing up kids, everyone trying not to look but I am laughing my ...off, head of security comes running up to me and she trips and falls on me......minded myself...LOL