tampa's "short skirt" trades...

...sigh ( moan & groan)

this is getting ugly...

while fussing and fuming, another "skirt" set up around 3:23 @840. and immediately ran 3+ points.

I might have missed out since it didn't completely touch the 20EMA - but than maybe I would have taken it.

In the: Woulda, Coulda, Shoulda File...I should be up 9 points on the day. Instead I am up 3/4.

(Dirty Rackafratzzz)

Sub, when you are finished with the beating, send her over here.

 

Well I hope that you are enjoying this – seeing a grown man make an ass of himself.

Go on, snicker to your heart’s delight.

I deserve it.

Maybe someone will throw in an “I told you so”.

That wouldn't’t be out of line either.

I don’t know what to say. Of course there really isn’t anything to say – my actions speak for themselves. It is a classic lack of discipline – plain and simple. Fortunately, my prior experience kept me from getting killed, and losses were of the “what could have been” variety. But again, I am embarrassed. I remain unable to follow a few simple rules. On the bright side, I spotted the eary chop quickly and avoided getting caught up in it. I literally did walk out of the room (yes I really did take a two hour nap), and that was the smart thing to do. But the afternoon was misplayed as badly as possible without losing a bundle.

So, what now? I really don’t know. Of course I promise to be/do better tomorrow. But will I?

(I think this is that “public” humiliation I feared when I started all of this)

Thank God I’m not trying to sell anything. (But what am I going to do with that “tradingwithtampa.com” domain name I reserved?)

 

tampa,

don't be too harsh to yourself.

todays action was really impressive - unfortunately i didn't trade at all. it's tough watching such a wonderful chart when everything is already over and finished.

the good thing is the hope that days like this might come around again sooner or later - some day - maybe ...

good trading to everybody

 

I really don't think that I am. But it's frustrating not being able to consistently just sit on my hands while a trade works itself out. I'm only risking 3 points, not the farm, for God's sake!

 

One thing that causes a lot of people to ultimatly lose and be unhappy is not having a definition of success in their heads. So with nothing to gauge themselves by they tend to always see themselves as having failed. Given what the method is and some of how you have approached it you have obviouslly not been successful, which you are aware of. I have a feeling though that even if you do find success, you might not feel that way. Something to consider is carefully asking yourself what will constitute success or failure, and then judging yourself by that.

Also, stop worrying about what the collective "we" at Elite Trader are going to think. Yes many here are your friends and you want to impress us all, or at the very least not look like a fool. Keep in mind though that everyone here has made the same mistakes, and probably some far worse. Also, keep in mind here that 2/3 of the people here would not have a pot to piss in if they had to rely solely on the market to make a living, so it might not be so hard to impress as you think. If its really starting to effect your trading and the way you look at things, you might consider cutting your loss and stoping out on the trade.

Brandon

 

Yet again I must thank you for the insightful post.

I really should give some thought to that success thing.

I came to the market (this incarnation) after a reasonably successful career in a totally unrelated field. My success was not due to hard work, nor playing by the rules, but rather being in the right place at the right time.

I bring no real work ethic, nor understanding of achieving success to the market. I basically approach it as I approached my previous profession – sheer force of will. Take me, or leave me – I don’t really care.

Yep, me thinks that some work is needed in this area.

 

Tampa. I read your journal, and it is like looking in the mirror, but a few years delayed.
May I make a suggestion which may or may not help?

Note in real time (ie paper-trade) the trades you don't take for whatever reason (MA sitting in the wrong place, higher time frames not in agreement etc etc). The aim here is to convince yourself that the setup is valid on its own (or maybe you find out that it isn't), despite the fact that other things you look at may not be conducive.

Once you convince your unconscious (which is, I believe, responsible for most of the self-sabotaging that goes on) that the setup is valid (or not, which is just as valuable), then psychologically you start from a much stronger position than the one you are in now.

Its not going to help you in the next few weeks, but longer term, if you manage to convince yourself that the setup is valid so you get to a point where it hurts more psychologically not to take the trade than to take it, you will be in a much stronger position IMHO.

Make it as boring as possible. Setup, trade, setup, trade, setup, trade, no questions, no second guessing, no hesitation, and most importantly, no kicking yourself afterwards, which does nothing but make you weaker IMHO.

H

 

'
Yes, yeeeeesssss.

nitro

 

Are you agreeing nitro, or are you being facetious? After I wrote this, I read your comments on Quah's thread, and I am not a trader under your definition.

I know myself, and I know that I can never be a discretionary trader (I can do fine for a while, but then 1 mistake and I give it all back - standard story).
Knowing myself as I do, I need to automate as much as possible, which, by your earlier definition would make me "not a trader".

I'm struggling to reconcile your response to this post (which is aiming to remove discretion), assuming your response is genuine, with your earlier posts. I did only really skim them, but I think I got the gist.

 

I agree. Successful trading is like bricklaying. You just keep doing the same thing over and over and over.