I couldn't take it anymore and I took a decent break. I figured there'd be a massive move minutes after I stepped away, but I came back and price was STILL diddling around in the same price area as when I left. I learned long ago to ignore that crap and wait for the market to tip its hand. It always does.
Pretty solid trading today. first trade to target. Next trade went to target but no fill. Hit my price twice within about 30 seconds then reversed. Also was at a resistance level. Think I learned something there. Exit quickly when that happens and take a few ticks less. Avoided chop well but didn't catch the range break. oh well. Not moving targets today. I think I got too cautious and missed a couple entries I should have taken later in the session. It feels that way but the set ups weren't the cleanest so not marking me down for that. I've thought about simming on Monday or if I do trade live will be back on extreme patience caution mode. Finished +25 ticks today. up a couple hundred bucks for week. More review this weekend..
Fridays, generally toughest of the week, many not even around by afternoon, lighter volume causes different kinds of patterns, so Hey good you passed, it not a contest, it is being consistent. Any profitable week is good.
Doesn't take a lot to have couple signals and do well enough. But much back testing to get where one is very happy with their results before doing.
J Why do you view it as extreme - which means you likely must force yourself to get there..., remain there There must be a new (higher) norm that we operate from - because it what trading correctly demands we do RN
When I wrote it I was also thinking that Monday shouldn't be any different than any other day. I should always be operating with the same amount of patience; the same mindset. But I do know Mondays are not my best day so I wanted to stress to myself to be especially aware to not rush anything. The rest of the week I seem to get into a proper patient mindset easier. ==== Last Thursday & Friday were good mindset, follow the plan days. Two in a row. Going to see how many days I can string together. jas
I would print this out, re-write it out a hundreds of times, repeat it over and over like a chant etc.; whatever it takes to engrave this to become a part of your trading DNA. Just like you do not think about taking in every breathe (it just happens), so should this process be internalized within you. This is one of the best posts I have seen in a while here. Do not let it get diluted by everything else around it. This is as close to the "Holy Grail" as one can get to. Regards, Alpha.
There was a very successful, smart and truly wise fellow I went to once with some problem (think of a George Soros in his area of expertise). He listened and then in Socratic fashion asked me a question or two. I’m sure I responded in some confused way. He cut my confusion short and ended the conversation abruptly by saying “the questions and the answers are both yours.” His voice was kind, but the look on his face said it was time for me to leave. That kind of ouched, but I’ve never forgotten it. What you do with the homework, the screen capture, the two weeks that were amazing …is yours. Not that we can’t give you the insights or possibilities we see. And for sure as we, or at least I, in thinking about your issues see things I can do better for myself. For which I am grateful. And you J are doing great overall. Just two smaller application thoughts: The point of not watching the P&L was to trade with less emotion – to be able to trade the plan and only the plan more freely, correctly. Perhaps you are the kind of person who when buying groceries knows what the bill will be when you go to the cash register. Still, you did better this week than you thought; RN says you are hard on yourself. You may choose to keep working this homework by consciously choosing to let go moreso of the general idea of where your P&L is. How can you put the new things you have experienced into to screen capture? The two weeks? One thing I'm working on with screen capture is NoD’s “say out loud.” I am clarifying what I say… because my feelings follow my thoughts… I want to see exactly what is happening and hear what I’m saying and when I say it. Make my thinking simpler, more correct in the moment. More a reflection of my plan. It’s given me an ‘aha’ or two to do so. Thank you Alpha for pointing out the significance of RN's statement.
Less weekend frivolity..., more Sunday afternoon / evening preparation (mindset wise) I view this as a surrogate for PnL Just stick to the routine - that is the only goal - trade to trade / day over day / week after week The results will be to your liking =============================== The goal is not perfection (or any other damn thing..., other than the next sentence) The goal is consistent..., discipline RN