I remember that post. Someone was saying that holding through rolls in futures will kill your profit. I have not rolled anything in years. The thing was I was never stopped out. I have studied the markets I trade and in NG, most often if the trade is good it won't hit a .020 stop. I got out because of irrational fear I have. The price was going back up just as I expected and I got out. I have seen for a few months now the reason I'm not making a living trading is fear of loss which prevents me from holding my winners, not my actual technique. Therefore I'm focusing on how to change that, ie mindfulness, meditation and looking at previous trades.
Fear comes from uncertainty. To overcome fear, one needs to reduce that uncertainty. Once, you believe you have information to support your trading decision then the uncertainty diminishes. This is where the fundamental information steps in. A lot of traders talk about oversold and overbought conditions but if that judgement is based on the rule of thumb, then fear will still remain there. One needs to know what the intrinsic value of an asset is before coming to conclude whether the price is overvalued or undervalued. Only that way, you would know when the price will mean-revert back to its intrinsic value
110,-,-,-,360 I'm in a therapy program Tu-Th thru the service I've found the solution to my main trading problems; meditation/mindfulness
-,(140),10,740,(220) What a shame I wasn't positive today. I missed some great trades so I just stopped early, when I could have taken any one of a number of continuations. Doesn't matter anyway, I missed most of the opens this week. Still in therapy.
125, (200), (198), (350), 275 I forgot to do my mindfulness this past weekend... but anyway, I shouldn't have traded this week. I had therapy M-Thur and other appointments in between. Most of my losses were from trades off my phone which is very unreliable and slow. I missed most of the opens this week so I was taking second rate trades. Just shows my obsession and that I'd rather throw away my money than not try at all. Monday bought the Midcap at the open and cashed out for 2 points. Could have held the entire day (+1400). Tue had therapy all day of course everything trended well and I missed all of it. Wed had an appt at 10. Before then of course the wifi where I am disconnects out as I'm thinking of buying and miss one of the best trades of the day. Get out at 1030 and take a couple while price hangs I can't wait and get out of trade that runs 4 pts. Thur I tried taking reversals and missed all the fast down moves. Fri is my only reasonably free day.
300,(40),330,205,(600) I do mindfulness/hypnosis every day before the open and I was able to catch the open every day this week. I have to stop at 1200 so I miss a lot of afternoon action. Way over-traded on Tuesday. I had the best short of the day but didn't hold it. I need to start doing 2s every time. Same thing on Fri. Had the 1k trade and didn't hold. Over traded, then didn't take some of the later good trades as I was running around.
290 (80) (90) 380 (924) If I had taken any of the PM continuation trades or held any of the ones I had earlier in the week, I would have made 3-5k this week.
were i you, I would spend less time on meditation and mindfulness and more time on developing a more consistent trading strategy with fixed entry and exit rules. And I don't mean this in a disrespectful way.
None taken. Having awareness that you're trades will run x amount/won't go x against u (as a discretionary trader) are both mental things to concentrate on when in a trade and practice in your mind (mindfulness). (380), 500, 380, 270 (without commission, do need to try to get it lower) Commission are about 1.2 a side, 2.4 RT + NFA and clearing. 12, 20, 40, 8 (contracts traded total per day) Thinking of forging trading Friday. Last few have been bad... Stage 5 just offered me .75 c a side!