jasinhbca's quest for discipline, knowledge & profits

20++ Years of stumbling around.

I'm not sure how good a read my journal is, Smallstops. Lot's of me making the same mistakes over and over.

I just hope it has a happy ending !

 

Edited for accuracy

RN

 

Indeed RN.
Sometimes what is needed can be a really small detail.

Jasinhnca : I am still going through your thread and your charts.
I am taking a bit of time, as I want to gather some stats from your charts.

 

Thanks, Smallstops.

what stats are you looking at ? I may have them or have a rough idea.

Feel free to PM if you like.

 

Sorry, I was seldom near the ET forum except to respond to the last batch of stalkers - some females with serious mental issues.

Stats : just compiling 'evidence' of what type of trader was trading from 2010 till jan 2014 : very interesting to see how your trading style changed from
breakout trader (2010) to strong trend trader (final decision december 2013).
The advice given were really good, and I am really looking forward to seeing your next steps.

 

.and the journal continues.

Going forward the emphasis is on discipline. With the goal a calm, objective state of mind the new routine will include: 1) Back to meditating on a regular basis. 15-20 minutes; minimum 4 days a week. 2) a free writing exercise each morning before trading. This is to clear the mind of extraneous thoughts. No more than 10 minutes with the last moments spent on gratitude. 3) Journaling in a private journal.
4) An examination of my market beliefs and how they may impact trading decisions.

Not long ago I came across the saying "Success does not bring happiness, happiness brings success".
This is not exactly how i've always approached life. I like the idea though so am embracing it and it feels good.

Traded this week except Monday. Trying NQ again since the volatility seems to be picking up a bit. See how it goes, I like the half hour later start time but then CL is overall a shorter session. Comes down to whichever offers the best trading for my style.

There were a couple mistakes – holding a trade too long that failed to break a range. My objective analysis turned to a Hope trade. And the flip side exiting too soon a trade that should have been held. Overall the trading was calm and with in my plan. The mistakes were strangely pointed out to me by my observers mind; “ oh, look your making that mistake again. Let's pay attention to these lines and act on them next time” Yeah, weird . Also some missed trades that for now I attribute to being out of practice after the break.

NQ trades a bit different than CL. The trends seemed a bit choppier. Not the instant gratification that CL offers at times. Going to take a bit of getting used to but the set ups are still the same.

+$ 126 for the 4 days.

It's good to be back

 

Well..., well... look what the cat dragged in



RN

 

I'm just here for the beer and free pretzels. This the right place ?

 

JIH,

Last we left off.., you were on the ledge almost ready to step out

Let’s get you back there as soon as you’re ready


To recap…, and depersonalize this gig

===========

Edge;

Indication price will do one thing over another

===========

Methodology;

Use lines / boxes – encompassing PA – to build context
Use this context – to identify PA conditions…, to identify signals for same

Add to…, as you see fit

===================
Define the entry signals you’ll use

Examples;

DT = enter on a potential double top
DB = enter on a potential double bottom
PB = enter once price pulls back to the TL.., and shows signs of respecting this TL

Add to.., as you see fit

=======================

Trade plan (created for each trade)

1.) Signal / entry
2.) Initial Stop loss
3.) Target / way of managing trade


Trade plan example;

For this example price has been moving down – making LHs (forming a down move TL)

Then.., over the last few bars.., price made a steeper down move (pulling away from the above down move TL)

Now.., price commences to pulling back – in the form of a range – to this down move TL


1.) PB to TL / short

2.) Breach of the down move TL / breakout to the upside out of the range PB / (25.14) (all 3 would be the same for this example)

3.) Remain in.., long as price continues respecting this down move TL / breaks out of the PB range to the down side…, / continues making LHs (these 3 are the same for this example)

=================

I use my methodology…, to identify an edge…, appropriate for the current PA conditions

I then.., identify an entry signal to exploit this edge

I then.., create a trade plan / enter – based on this entry signal

I then.., manage this trade

I then.., move on to the next trade

==============

The process (simplified) – from which we never deviate

Identify the direction

Identify / wait on an entry signal (which includes a low risk stop loss)

Create a plan / Enter

Manage per the plan / wait till it time to exit

Exit – for a profit.., or a loss

WRR

========================

As you experienced last week – a little discipline / focus is not sufficient


Come Monday morning;

We amp up our discipline & focus – to 100%

We separate our self / get out of our way

We follow the process

Our PnL is simply a reflection of how well we follow / followed the process

Small / BE losses is to be expected…, is damn good trading

Entering – exiting – immediately reentering…, is necessary at times…, is an advanced skill

The mkt is uncertain

Each trade’s outcome is uncertain

We don’t know.., we never know

We follow price's lead

Trading is only about making money…, by managing risk first – by making money second

=====================

Welcome back my Friend

Now let’s get your shit wired tight.., your head in the game…, your self separated from the game…, trading

RN

 

Yup

RN