Journal XburbX - My Plan

Discussion in 'Journals' started by xburbx, Jul 20, 2012.

  1. Redneck

    Redneck

    me take things we talk about the wrong way.. come on already...

    We do - what we do... we do not necessarily do what each other does...

    RN
     
    #31     Jul 25, 2012
  2. xburbx

    xburbx

    I took two trades today on GS. Both long. It was the only stock I was looking at today. The first trade was easy to manage and the second one was a "plan tester". The good news is, I stuck to the plan. It was for a small loss and ended up positive for the day. I was in and stopped out in about 5 minutes. Small positive on the day, but positive none the less.

    I am taking notes on all my trades and will be analyzing the snap shots around mid August to see if there is anything in the plan that can be adjusted for more profit and less risk. I try to keep the visual conditions as similar as possible when creating lines, prices boundaries etc. Exactness is important. I am not sure if that is a word. I dont think it is.

    New money in my account.... is better than- "MY" money in someone elses
     
    #32     Jul 26, 2012
  3. Redneck

    Redneck

    Damn straight....


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


    XB

    From the heart


    Monday – followed the plan

    Tuesday – followed the plan

    Wednesday – followed the plan

    Today – followed the plan


    Anything I say this evening; even posting this…, could potentially jeopardize a week’s worth of hard word



    Simply want to say;

    We’ll talk more this weekend

    Good job today

    Trade well tomorrow..., regardless the outcome

    RN
     
    #33     Jul 26, 2012
  4. xburbx

    xburbx

    Great sounds good to me.
     
    #34     Jul 27, 2012
  5. xburbx

    xburbx

    Something must have hit the news around 130pm today. Price jumped on everything. I have a few stocks I was watching to set up for a trade but they all seemed to just miss and entry area. They were creeping to it, but then 130pm hit and all bets were off. Unless the next 1hr send me a real nice set up, which I dont see happening, I am done for the week. Positive overall.
     
    #35     Jul 27, 2012
  6. Redneck

    Redneck

    You follow the plan today?


    Also (and you may or may not want to post it)

    What were your 1.., or 2 top lessons learned this week - that you'll carry forward

    Be sure to put em in your journal :)


    RN
     
    #36     Jul 27, 2012
  7. xburbx

    xburbx

    Yup. Plan followed :)

    As for the lessons I will gladly post but I need to think of them
     
    #37     Jul 27, 2012
  8. xburbx

    xburbx

    2 lessons

    1. If I focus on executing my plan it takes the emotions of the connection to money away. I was so focused on doing what my plan says that the money and stocks outcome didn't have a mental impact on me.

    I would say this was the main lesson this week and I didn't realize it until after the trades were over, win or lose.

    2. It pays to be patient. I didn't take a lot of trades this week but sitting and waiting ended up making it a profitable week
     
    #38     Jul 28, 2012
  9. Redneck

    Redneck

    XB

    Wash.., Rinse..., Repeat


    RN
     
    #39     Jul 30, 2012
  10. xburbx

    xburbx

    It is 3:10 and it looks like there won't be any more trades today. I took one on GD for a long at 10:35. It was stopped out immediately. No big deal as it's part of the plan. There were some "almost" trades today that tested my plan a bit. They were only off by a small small detail, but I stayed out. Today I realized the best thing to do when I think I might trying to make a trade work rather than let the market tell me, is to delete all lines and not look at that chart again. I am looking for clear trades.

    So in summary, one trade with one loss. No big deal.

    I followed the plan and didnt lose my shirt. No complaints.
     
    #40     Jul 30, 2012