http://www.andrewmenaker.com/how-often-do-you-break-the-rules/ Break-even traders should really think on this post. It is 'deep' and if a trader only eliminates a) impulse trades b) revenge trades c) trades made because one is bored I think profitability (consistent profitability) is a given... This is WORK; trading for income means one must consistently outperform 95% of other retail schmoes. To 'root' out one's issues and BIFURCATE a) personal issues in real life vs b) trading plan in your trading JOB is to step forward and be a responsible winning trader. If the heat/emotion of fast trading is too much for you; then slow it down and diversify and look at longer timeframes. I like both--scalping and intraday trading and trading on 12 hour/daily and 3 day timeframes. Forex gives me diversity in my daily swingtrading with ultimate scaleability & a 'basket' of futures with 2 different methods and 2 different timeframes gives me further diversity with a smoother equity curve overall. I am thankful for the assistance I get from my 2 other trading partners that assist with the swingtrading (a small amount--but it is measurable). peace hedvig
--------------- Thank you LF, I must agree with you. I work with my boss/partner and 2 other financial partners; that is enough for me. To some extent, Sam Gold and his 400+ aliases he has used over the years should probably get a few shekels if Baron sells ET; for surely this bored as fuck older dude who has massive issues likes to stir the pot. He admits as much; so I give him credit there. A bit obsessive though--maybe he is a therapist and a paper trader; don't know. I get he is bored and is probably an alogorithmic trader and has more free time than most; frankly, he should just write fiction or trading books or become a bullshit vendor to supplement his income--or if this is how he gets his kicks--good for him. Perhaps he is independently wealthy and this is how he passes his time, again--don't know and will never know. That is the thing; he is purely on ET for entertainment and no one will ever know, that is his preference. Moving on. I didn't start this thread for 'views' nor to mentor anyone; just to show how a professonial manages his mind and trades size and just wins week after week because of overcoming his own personality issues; issues I do NOT bring to the market. So, the ignore feature is on and I will correspond from time to time with people interested in 'psychology' (the forum this thread is posted in). I like to bring up salient articles so traders can think of how to get to the root of their issues and then work on improving themselves through trading and executing positive expectancy trading methods (discretionary or mechanical). Again, ty. I allowed through my own non-trading psychological weaknesses to dilute my own thread with stupidity and dumb-as-dirt posts; for that I apologize to experienced traders reading this thread. I'll have my weekly report on Friday and a few interesting comments on trading psychology as well. peace hedvig
What else have you lied about archbishop?. Confess!. Lie upon lie upon lie. Swing trades posted all gone to the shitter without exception. At this point I don't even believe the yellow bicycle claim. Do you still have the sim account to 'test' the 9-30 method?. Why do you lie archbishop?. Why?. Why?. Why?. There is no need. None.
------------------ I thought Andrew's blog post was illuminating; so I replied to it. He also made a further comment in the 'replies' section (link below). I saw a funny note on a trader's desktop while browsing 'trading workstation setups' the other day; it read, "Trade with the fucking trend asshole!" I could not agree more. I have never paid Andrew, however--I find his posts deeply provocative and useful for me in fighting all of my 'bad instincts' that I have outside of trading that if I was not aware--I might bring with me into my daytrading and swingtrading. http://www.andrewmenaker.com/how-often-do-you-break-the-rules/ Took a few days off this week; though the market was somewhat volatile at times it was quite tradeable (even in deep summer). I'll be trading another 2 weeks and then am going into the deep south (near Albany, GA) for a retreat among my partner and 3 other friends of ours. Shooting guns, banging hogs {if they have a bill they can't pay--little Boss Hog pays it and then she gets humiliated for several hours~~they can't all be proud women, ya know}? I hope to come out alive and disease free; though that is highly unlikely considering this motley crue. A former attorney, a current attorney, a PI & a 'commercial paper' & Miami attorney. Why the fuck do I hang out with such degenerates? Probably 'cause I am a degenerate gambler as well. Though I only bet when the odds are with me & a good payout to boot. I'll be forced to smoke cigars and drink alot of scotch and then get my partner laid. The things we do for friends. The magical elixir (GD) will be sent ahead of time (since GA is not a THC 'free zone')--me and the federalis don't get along much; especially if it was at the Atlanta airport--that would be a disaster. Saturday evening and I just spoke with a bartender on break at the local convenience store 15 minutes ago. She inquired about the 'magical elixir'--good face, sort of a dumpy ass--but a natural blonde and probably near 30. Not good enough; I'll see if she will introduce me to some of her younger friends. Looks like I have to spend a few bucks tonight. I hope it is a good risk:reward setup. *Caveat: This bar is 4 blocks from here--so, no big time investment. Oh--finally, in Jamaica I had a good time. In Aruba I actually didn't do a damn thing besides play craps, eat good food, drink good Champagne (I am fancy like that on vacation) and get some sun. Oddly satisfying. peace hedvig
The casinos are decent in Aruba, but I'll never go back... the wind is obscene. The trees grow sideways.
------------------------- Yea; see~I really like wind in a hot climate. It is the only thing that keeps me from melting. It is a decent-sized island though and I spent two half days riding around in a jeep and then a moped. Used to go to Anguilla once every year with my former mentor; didn't feel like spending 15K on my vacation though. Very expensive vacations back in the day. Oh well, money should be spent on travel, imho. Came in under budget (by $200 though) on this last one--all in all, it wasn't bad. Next one in Georgia I'll try and get two hogs in a dumpster (a fetish). It will take courage. My only rule when I go deep into hillbilly country is to take a girl out of her neighborhood. Cousins and brothers get angry when their females are being courted by a guy like me. Last upleg in the broad stock market forming now, before a size-able correction? EURUSD pulled several of my 'Daily Rick' method (daily timeframe) forex trades from near profit target to b.e. stop outs on the 26th of this week. Two of my recent campaign trades turned out wrong and was stopped out on both {1 for b.e. & the other a 2.2% loss}; 6E long from June 1st bottom and ES short from 1335-1350 area. Interesting as we go into August 1st next week; indices (DOW) crosses back above 13K and $vxx going down. I wonder if we grind higher on lower volatility and we do NOT get a repeat of last year August 5th spike $vxx due to U.S. debt downgrade. Markets never turn on the same events (rarely). Regardless, I look forward to September when awful spawn (next door--3 of them) go back to school & football betting starts (I am a $50.00 a game bettor--very low stakes) and everyone is back to work from summer vacation. BTW--I am serious here. That old college professor is still banging his (now pregnant) concubine every single fucking night and my friends are laughing at me now because I have not resolved the situation. The bitch even smokes on her back patio. This old bald fat fuck thinks he is king shit while renting and now won't even look at me anymore or acknowledge my disgust. Another 31 days of this misery. I have bail money but don't want to do anything stupid. Someone emailed me (at my earlier request) and suggested the problem is me. And that the old fucker is just doing his thing. IT was sent an anonymous email; so it was probably sent by an ET mult (multiple alias poster). Whatever. Still, the unholy sounds that pierce the night air every night @around 11pm est haunt/humiliate & horrify me. Will I be banging some older whore when I am 60 and worse still; will she smoke? I like that he gets her cooze every night at a specific time, that is honorable behaviour; yet this cheap fuck won't put in 2 window AC's and save me from the cacophony of literal fuckery that is now my own personal Vietnam. Any natural remedies from summer ptsd? Cunt on wheels is taking me to some little fucker's 2 year old birthday party, under the promise that some younger women (18 & up) will be there to suffer through my experience and bullshit; and me ABC'ing them (always be closing). Big Yellow will be brought as well, I figure after I am bored I can pedal my ass to the gym (13km round trip) and make something of the afternoon. If anyone is in W. Michigan next week it is Coast Guard Festival time. http://www.coastguardfest.org/ However, I must warn you~a bunch of white people doing white-people activities in a vanilla-flavored lakeside community. Though I do know several tawdry dive bars nearby. Text my cell or email me and I'll buy you a drink in Grand Haven, MI. Added-value bonus; you can meet cunt on wheels (she will be in fine form)! peace hedvig
I made a post in another trading forum earlier today; perhaps it will resonate and/or give a tip or two for other trader(s). It is about the 'not knowing' part of trading. NoDoji attributed a GREAT quote earlier in my thread that resonated with me: Here's a deep thought from an ET-er a while back, sums up the profitable trader's mindset perfectly, IMHO, one which I continually strive to attain: "The conversion happens when you truly believe the future is unknowable. We have such a problem with that as a concept, as though we hate it with all our being. Start thinking you know the outcome and you have already slipped. That belief in chaos sets us free. Without having to think we can act simply and quickly on probabilities, without all the drama." ___________ Back to the post I made earlier; here is the initial traders musings: "Lately I find myself opening this page, and then typing nothing. Closing the window and going back to thinking. What is there to say sometimes? It seems as traders we feel a need to always know what is going on, desire a method that allows us to stay involved, miss a move and wonder how to fix that "error" for the next time... But, not knowing is ok. Normal. The prevailing condition even. Not knowing, in some ways, IS trading. The silence, the contemplation, the inaction. Then the trigger, with an expectation but never knowing. And then right or wrong, back to knowing nothing again... It is no wonder trading feels so difficult. The silence outweighs the noise, and we are left with nothing but ourselves and our confidence or insecurities. If we need to participate, it will take us down. If we fail to act on confidence, same thing. And if failure shakes confidence, it leads to more failure... But understanding that doing nothing, is more important than doing something, is a critical step." ----------- My reply: *Note: I took out the $$ particulars and the usernames I referenced. "I am NOT a trading psychologist; only a risk specialist who deals in probabilities. More advanced than an actuary because traders have SKIN in the game--a % of bankroll per 'bet/trade.' When serious coin is put on the table 10-15 or 20-30X's per week; one simply must become comfortable being uncomfortable. There are no certainties; indeed. No guarantees & 90%+ of our hours in front of the markets intraday we are flat and letting our 'mind chatter rest' while in the background stalking setups with the ferocity and focus of a sociopath. Another poster signature reads:" I will follow my rules, I will take my stops, I will be disciplined and I will work with the market....NOT AGAINST IT! Professional mind control is the key" I believe in mastering 1 setup at a time and then trading it; over and over again. No different than a large retail store rolling out a big product launch after extensive 'in-house' research. It either fails or succeeds. Great trading setups that repeat over and over again we increase the inventory (size) and keep making money off of it. Sometimes we have a weak 'sales' day. So what? We are properly capitalized and @the end of the week, if we honored our rules AND just learned to RELAX while the market is in a state of 'nothingness' (no trade signal)--then it is a boring but highly profitable exchange of time for $$$ {over time--working our edge}. ------------------------------------------ Here is that article. It goes beyond the stale mantra of "I will not break my trading rules." How Often Do You Break the Rules? | PopDoc Trader http://www.andrewmenaker.com/how-often-do-you-break-the-rules/ Work on your old habit issues every day for 20 minutes (meditate on it--seriously--imagine scenarios where you are flat and patiently waiting for the void to clear and then immediately acting on your edge when it does appear); you'll come out the other side an AWESOMELY consistent trader. Trading should be boring {though I appreciate it more each year}. Treat it like a potentially very high-paying job & then concentrate on at least 2 other passions outside of trading; you'll be a better trader and a better man for it. I visualize my trading in the last 15 minutes before I go to sleep. I go over concrete and then esoteric concepts and then let my hypnagogic hallucinations (usually with some Green Dragon coursing through my bloodstream) fade into sleep. Another poster asked me about music and 'states of mind' recently in an email. I don't use Apple products and I don't want to use technology to try and align my brainwaves when I have real money on the line in a trade. What I do use and enjoy are 'drone zone' type music stations and recordings that have a pleasing 'aural' tone to me & spectrums of sounds that are similar to 'tonal scales' (but slowed down). I prefer minor notes in specific chords; however, it doesn't have to be complicated. Whatever 'feels' right for your ears--then when you are trading and NOTHING is happening--you meditate with your eyes open and get your breathing right. For me that is all that is required. When trading and uncertainty surrounds you--make peace with it and come up with your own 'cone of silence' that is your happy place in a market(s) of nothingness. When you see your setup(s); attack it--manage it--finish the trade--let go--and then prepare for another. Have GUIDELINES (written) that assist you when to be done for the a.m. or p.m. or day according to your own strengths and weaknesses for your trading style and psychology. This is no different than alot of sports psychology--if you can't or won't do simple re-inforceable tactics to make trading easier in the face of uncertainty; as a trader--you will never reach the upper echelon nor probably make the money you should be making if you have a repeatable edge that is consistent. The world needs ditchdiggers & 'yes-men' & 7 Eleven slurpee attendants & prostitutes as well; most are awful jobs; being a good prostitute is an honorable profession. I would totally own a brothel in another country than the U.S. if I wasn't a trader--but we didn't start trading in order to fail after awhile and then go back to a stupid job that a retard can do, now did we? peace hedvig
hi Stephan. I agree with mastering 1 setup of a time is a good approach. But if the setup takes a month or so to appear than it may not be good to use because the sample size is only 12 per year, too small for a sound method.