The obvious is that there is absolutely no reason to take so many trades. I'm struggling. Follow your plan! I know. I tell myself to follow my plan, yet I don't. Why is that? Because I need to be right? Introspection tough sometimes. I want to learn to wait, to watch, observe, see "the setup", and pounce on it. Maybe 3-5 times per day. 16 trades in the matter of only 2 hours dumbfounds me. I'm still in shock over that. You really have to be in tune with yourself to become a trader... I'm also considering moving to a 5 minute TF for now to simply help me calm down. 1 minutes move fast. I'll still use 1 for entries though because it's easier to see the pullbacks.
Thanks for the ideas TD. Changing instruments is definitely in the back of my mind. However, I'm clearly the problem. :eek: I would gladly trade any instrument that showed my set-ups. You know, most traders kind of give away their set-ups if they post charts. I trade anything but my set-ups so I'm fine posting my charts. LOL I'm sorry. I am still upset over today. 16 trades? Really? And stop patiently waiting for my demise! This is tuition money.
I don't like sugar coating either, so let's get to it... Right now I'm not sure what steps to take...I ask myself this often. Go back to SIM? Document more bar by bar trades in excel? Get counseling? I know I've only been live for 2 weeks and shit happens, but I do ask myself this. Read more books? Step 1: No 10 pt ranges. NOW. Step 2: Wait for THE OBVIOUS TRADES. NOW. Step 3: Manage Trade Well. NOW. I know there is a problem with me. I tested this method and have good statistics, went live and it went out the window. Should I test this method again in SIM? I SIM traded it on and off for 3 weeks. Good stats. I've ordered douglas to learn more about this psychology stuff. Waiting for arrival. I'm continually reviewing brooks on "reading price charts bar by bar". He sucks at writing but has good info. Even though I don't use bars...his trend and range stuff is great. Step 4: Keep showing up. Do you have some ideas on what steps I should take?
1.) Journal what you've been going through - separate out each issue - work to identify the root cause - then fix it 2.) Create a simple.., concise methodology / approach (1 set up only) 3.) Get back on sim (no since pissing money away) 4.) Trade that 1 set up - consistently - come hell or high water 5.) For each trade - create a trading plan (around that 1 set up..., for the current PA...., and for each trade) - then follow that plan to the letter till that trade is exited WRR Finally..., when you have completed 1..., 2..., 3...., and can do 4 & 5 consistently..., in your sleep..., with one hand tied behind your back..., blindfolded Go back live Or Continue struggling..., berating yourself..., and pissing money away Tis a choice Mkt will be here when you're ready RN
One additional thought Trading is strictly pay for one's performance ================ You berate yourself...., you beat yourself up Do you really think you're going to perform in your own best interest..., or subconsciously undermine yourself You must get your head clear..., and screwed on straight You..., are all you have to..., and can - depend on Either break the loop..., or resign yourself to being a prisoner of it ======================= I am not a psychologist by any stretch..., but play one for a real close... and dear trader friend of mine (me) RN
Thank you for that. You are right. It's been hard. I need to spend time and journal some of these issues. The tip of the iceberg are the range plays and why I do that. I wonder what's under the water line as far as emotional issues are concerned, if I may be so pussy-fied... Also, I need one set-up. I feel like I'm trying to trade 10 in one day. A pull-back in a trend, a reversal, and pullback after a breakout, a breakout, a small 4 tick range play etc... That's nonsense. I need to create one set-up and execute flawlessly. Bummer... I agree. Stop pissing money away. Thanks RN
Straight to the point! Self-sabotage has been a close friend of mine for some reason. I want to break the loop... Did you struggle with this loop?
There were no depths of hell I did not travel I am (or can be) one hard headed sonofabitch..., and I fought myself every step of the way That was then..., now its a totally different story RN
This is brutal! Thank you for your honest words...harsh yet very helpful. I'll be back tomorrow evening to start digging...into me... And it's also time for ME to identify a set-up for ME. Just one. Thanks again J