Journal XburbX - My Plan

Hey XB

I’ll answer your question.., but first please answer mine (I’ve been sitting on it for about a week)

There is only one of two possible answers – yes or no

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Today is day 21 – which we’ve spoke about

Over the last 21 days – while trading – you have;

Been patient
Been disciplined
Been focused
Accepted your losers
Remained patient while in a winner
Approached each day the exact same

That said…

You also seem to place importance in what I say to you

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So here’s the question


Is there anything I could say that would in any way dissuade you from doing the above – every trading day – from this day forward?


yes or no

RN

 

Means price is acknowledging your context....

More importantly; Means you're in sync w/ price....

Means you can make bank on em - until they quit working of course - but until then - make bank

Good stuff - the simpler - always the better... and never over think it (which is very easy to do)

RN

 

Rn

I've learned to become decisive in trading and to trust my mind. If you told me, in this instance, I was wrong I would not change my plan. My trades are different than yours. My account would be my true feedback good or bad. With that said as set in my path as I am, I adapt and always listen to others with more experience. I might not make a change but I certainly digest and think a lot more about something you say over others. I have found that the more I trade and see how personal it is the broader the concepts I look for when talking with people like you. As you have seen in my plan I have stupid nuances that solidify my trust in what i do even if they look dumb to another trader. So if I am uncertain about something I find myself looking to see the big picture as I know if I grasp that I can hammer out the details that work for me. In this question I was more noticing something in my trading and deferring to your years of experience for possible confirmation. Would it change what I am doing, not unless what I am doing were to not be profitable. Then I would know I was off course.

 

Good God man - a simple yes or no - please

RN

 

No

 

Sweet

Now I can quit worrying about you

You are going to make it XB

With some time and experience - doing what you've been doing - You will make it...

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Give me a sec to answer your question Sir

RN

 

Thank you much. Btw I lost the trophy. Shot like hell. Compounded a few bad shots. Doubles are score card killers. Trying to get it back during twighlight tomorrow.

 

Yes in theory, the winners will more than make up the losers

I need to delve into why I added "in theory"...., but first

Fact; small losers, and small, medium, & large winners is the way to trade

Further fact;

Most days are simply singles and doubles

All losers are kept small - period

Occasionally you get the moderate / big winners

There are the facts

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So why the “in theory”

Thursday and today should have been big winners – they were trend days

Friday was a very early momentum move – that then petered off to almost nothing

I can see why you had small winners/ loser on Friday

I “think” you’re missing the moderate / big moves (ex; Thursday & today)

Missing the bigger moves.., even the moderate ones – makes it real hard for the winners to more than cover the losers – not to mention how very frustrating it gets (that feeling of wheels spinning going nowhere)

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Believe it may be time to reevaluate how you’re trading – as compared to the larger TF trend occurring - while you’re trading

But – no matter what – do not change the way you’ve been doing it for the last 21 days (the list I made)

Maybe add another set up – but don’t change one iota how you go about implementing (trading) that set up


Thoughts?

RN

 

The trader side of me says – yes you lost it

The off hours side of me says – you just lent it out temporarily

RN

 

Ok that makes sense. My largest winning days have certainly been on big move days. Today was close to hanging on for some good momentum but I exited per my plan and price took off. I have been debating adding a breakout setup into my plan but I am not sure that it would do anything more than just add more trades. It is just another setup as far as I can see. Possibly evaluating the longer term time frame differently might help.