Positive day. I exited my last trade early and immediately regretted it despite the profit. At least, I'm getting positive/negative reinforcement feelings on my actions and not the PnL. Interesting is that this was a trade I wasn't thrilled about taking. The set up was there, order placed at my trigger point and moments later I was filled. Then got nervous and mucked it up. The prior 3 trades were managed well and with no emotion. Not sure why that last trade was different. This is one of the things about trading I love. The self-analysis and striving for better performance through control and letting go of self. First, trade went positive then reversed quickly. In the past I would have likely exited this. Price came close to stop then went back up positive then again reversed sharply and moments later stopped out. Point here is my initial thought was I could have exited and saved myself a few ticks but then I realized that that past behavior of trying to save a few ticks overall has cost me more in missed profits. Letting price come to my stop was in accordance with plan and logically was proper thing to do. That was reassuring and then moved and refocused. third trade 9 ticks slippage on entry. A new record. Usually a few ticks of slippage I've taken as a good sign of strength and this proved true again. 3 of 4 trades managed correctly today. 1 more day of trading.
Trade wasn't different - trades are never different (we enter em -> they either work.., or break down) A trader's mental state does change Possibly you were running on low (mental capital depleted - but hadn't yet recognized it ) =============================== That last trade aside Good Job J RN
Another new day We remain the same..., we follow our routine... we do our job We are not smart enough to second guess / out think the mkt We don't second guess signals..., or each plan We observer / monitor our self We follow each plan to fruition - We do not inject randomness Trade well - and to hell with the results RN
Stick a fork in me May watch for a bit longer - otherwise - all did..., all done ================== Its Friday..., its warming up..., and our beautiful sun is poking its head out - time & need to get some Happy Weekend All RN
Have a great weekend RN. Waiting on a triangle here. Not my favorite set up. Will see how it plays out later.
Done. Back for more recap later. No major intra day drawdowns this week Mon +43 ticks Tues -28 Wed +22 thurs +28 Friday 0 Net + 65 ticks less approx. $ 130 commish
Traded the plan today. One thing I noticed today was that I remember when I would look at set ups and then have an internal dialog debating whether I should get in now or wait or is this area a reason to avoid the trade etc. Exhausting and missed moves. I'm pulling the trigger well now without overthinking and second guessing. Part of it I think comes from being OK with being 'wrong'. Wrong being not just losing but misreading the PA and taking a borderline valid trade. I accept that happens but more importantly I know that i can't predict and anything can happen. If it's my set up or damn close I'll take it. Mostly; still not perfect. Trades today were going MFE 10+ then coming back for small loses. Thought about the early exit but held despite the S/R areas that suggested OK to exit. So that brings up I believe my targets were too optimistic given conditions. It's something i'll have to explore in the future but didn't want to change during the session. Plus CL is volatile enough that those S/R areas often get blasted through. ==== I'm done trading until mid -April due to my 'real' work. Already feeling behind. This past year has been very good in my progress of understanding my set ups better than ever, my trade management is vastly improved and my discipline and letting go to give trade time to work is greatly improved as well. Upon my return i'll be working on getting my mental state solidly to the next level. I'll still be here lurking on ET and looking forward to reading the great progress Slugar, Jsmacksem, and Yukoner will be making as well as the great advice they'll be getting from my favorite ET'ers. (JMHO, I'd like to see bonscott posting to his journal more too.) Good trading to all my trader friends ! jas
Example of consistent actions begetting consistent result Go figure ==================== J, When you get back we'll need to get your mind back up to trading speed - so for the first week or so - plan on easing back into it Until mid-April My Friend RN