10:01 exit 2nd half at 089 (+12). Don't mean to journal my trades within yours. Just thought I'd enter in my last exit. Best of luck.
boro, No problem.. nice trade btw, I see you have some patience when holding your trades unlike me. I have PLENTY of patience while watching the trade go against me.. but no patience at all when its going my way..... kinda ironic
I've exited too many trades before my template tells me to that I've learned patience the hard way. It won't always get me out at the bottom or top but it keeps me in the long point gainers way past where I would have exited.
Short 1 YM 11080 cover 1 YM 11070 Net for day +$102 Well reached my daily goal..... Will try to be extra careful with any other entries I make today
Careful here too. Flat still and will usually wait until 12:30 or 1 to take another. Been stopped out too many times during the 10 and 11 o'clock hours to look for trades.
I have HORRIBLE risk management.... here I am again, holding a crappy loosing position.. entered cus I was bored, not because of a signal....... and then ridding it down refusing to sale...... why do I insist on making these trades? Especially when I already reached my daily goal... Also shoudlnt have been trading during the lunch break.... Also violated my stops... everything wrong on this trade... but yet I cant bring myself to exit the position...... Buy 1 Ym 11045..... currently down $200 on this trade...... at some point I have to draw the line in the sand...
Wow, Frosty, what are you doing. You said you violated your stops but are still in the trade. It ain't a stop if it's not a working order that will be filled when the price is hit. No mental stops, my man. Maybe you're still holding and can dump it now at 11030. We've got to do something about that discipline. If you're bored, do what I do around 10:30. Watch a movie or something you Tivoed. You've got to cut your losses and let your winners ride.
Yea sitll in it... thought about dumping a second ago... and started thinking.. well only has to go up a little more and I can scratch on the trade.... and now its going down again ;( I hate putting my stops in because they seem to always get hit by some momentary spike... but what good are my mental ones if I dont use them? My dicipline is where my problems are... I have a mechanical system that shown to be very profitable in backtesting, and I have a bot trading that system, and has been very profitable running in a live demo account..... so I KNOW that method works.... and I have a semi discretionary method that gets me some really good entries but the dicipline and the early exits KILLS it.... got to get my act together
I empathize with you. I've been there and I'm sure everyone else has to. Your setups backtest beautifully and the results are there on the demo acct but when put into use with real money, it just doesn't quite click. You're not alone. Do you use eSignal for your charting? If you do and you're not already doing this, I highly suggest that you backtest your setups using a bar/tick replay versus going back and looking through static charts. It makes a world of difference.
Still sitting here and "praying" that it goes back up... basically doing the WORST thing I coudl be doing.... considering If i woudl have cut my losses when I first posted about this bad trade I done had 2 or 3 good setups I coudl have taken and made my losses back.. but isntead i'm just sitting here holding on to a looser for nothing...... Maybe I shoudl start some sort of electric shock theorpy... anytime I do something i KNOW i shoudlnt, shock myself a few times......