I maintain ~ 3-5% skills.., ~ 95-97% psychological And I could easily argue oneâs skills acumen is tired directly to oneâs psychological soundness ======================== Our approach / methodology/ plan â however â must all be followed/ executed near to 100% as weâre able (its the only way to bring a modicum of certainty â to an uncertain environment ) ========================= We all do at some point or other - or we go do something else ========================= No Sir..., mistakes go with being human â regardless what a person is pursuing You're Very Welcome Sir Remember to always show up with yer "A" Game RN
Overall, I had difficult time finding set ups this past week. Lot's of chop and the few good trades I missed . -44 ticks this week. Out of the 14 weeks I've traded this year this is the third weekly loss. Also the biggest. Thoughts going through my head: * This is tough work. Will I be able to generate enough income doing this within my goal of 2 more years ? * -44 ticks is only 1 good trade. * Is CL becoming what NQ was for me. Where's the easy $$ ? * Nevermind the PnL. Was I taking my trades and was I focused ? The last one is the important one. My trades are mostly discretionary where context is key. A reversal pattern, for me, is a valid set up after an extended move or as sign of continuation in a trend. In chop it's noise and not to be taken. Today , where the bulk of my losses came from, I saw the gap up and thought there was a good chance for volatility. Instead, the day was another of chop with enough clues to indicate that. Some of the trades I should not have taken. And as I said, I did miss a few trades earlier in the week. So bottom line i'm not going to be overly concerned about the weeks loss and will continue to do what I do. Which includes plenty of trade and market review and answering the question of why did I miss 'this' trade.
I am surprise not much info on how to handle a roll over week but in general you have to deal with factors that were not present in any other weeks, btw stay away from option dates too. Not too deatail but this article did mention some of these: http://www.gooruze.com/articles/1437/How-do-Futures-Contract-Rollover-Days-Work/
Been busy last several days. Quick update. -21 ticks last week. Not a lot of trades taken. Just not seeing good set ups. Friday did not trade-college roommate in town. Beers and margs at the beach. ES is getting my interest but not switching yet. gotta run. Good trading next week all.
I need a mid-week vent. I'm trading scared. Maybe i'm trying too hard. My mood was admittedly tense after hesitating and missing the first trade. I did not give trades enough time. Frustrating because I 've been here before and thought I had moved past it. How many times do I have to re-learn what I know I should be doing ? In review I almost have to laugh. These are not bad entries and are the entries my plan says to take. But, man, those exits. Why was I so tense and jumpy ? I mention this all to document my path to becoming a trader. It helps me to vent and maybe it will help someone else. Simply, there are setbacks. Don't beat yourself up over them. I have not videotaped myself trading but think I may give that a try. I'm a couple weeks into a traders psych course as stated previously. Hopefully, that will kick in soon. Actually expect it will take a while. Today was not a blow up day by any means other than a failure of me to trade properly. PS a few more trades taken today not shown.
JIH, We've all gotten scared a time or two... step backâ¦., relaxâ¦, regroup Give thought to taking a break â mkt will be here =========== BTW; Don't forget to keep an eye on the bigger picture Sir Now what's that old saying... oh yeah.... If it is to be... it is up to me (you) Slow and steady.... slow and steady RN
Thanks for the encouragement RN. I'm actually going on vacation next week. I do think a break will help. Slow and steady is about my max. speed. But those darn hills where I start rolling in reverse sure get my attention.