The Day Uncertain about the overlap between the long traverse and the short channel. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2270263>
I suspect I've been using the YM incorrectly, such that it may have become a hindrance or a crutch and look forward to regaining clarity, simplicity and certainty. I'd be lying if I said I hadn't experienced the sympathetic emotions, at least intermittently, and have been refraining from using the EmWave. I've experienced staying on the wrong side of the market for multiple bars, with both sim and real money, which is not a pleasant experience. The logging has been very sparse and incomplete, and the MADA has been marred with outside influences. I'm working tomorrow, but from Friday, will drop the YM chart, revert to Beginner level trading, with MADA and a coherence meter, and post logs and prints with my charts.
So I got my report card. Capital F. I got a summary visual too. Tiny pockets of clarity, mere apparitions, drowning in a raging purple sea of CW. Purposeful work would have got the job done. Instead, Sloth and Pride â no, hubris â prevailed. Throw in stubbornness, conceit and restless impatience, and we have a full house. LTD. Weeks of slow and deliberate work done carefully to deconstruct the haywiring, undone by just a few days of charged LTP activity. Time spent reinforcing all the wrong things. And Jackâs right. The CW has been made a thing of permanence. The Audacity of Hope, quelled by the graceless and inexorable march of a second-rate routine. George retains the mantle, and the regime flounders some more. Clearly, lasting damage has been done. You can only scratch a record so many times before it becomes unplayable. Questions aptly posed. If I wasnât doing purposeful work over the past four months, what exactly was I doing? I stay up, wrestle with the questions, but the answer eludes me. Four months is not a short time. Books are written in less. A thirty-day program, as a distillation of five decades of wisdom, and countless successful students. Unplanned extension to ninety-days. Further unplanned extension, a proposition to spread the initial elements over two years. Fitting recompense for a litany of failures. 2009 to learn the ES. 2010 to add the YM. This time around, itâs a controlled environment. A machine to keep my emotions in check. An interface to keep my thoughts in check. Adherence to a system. The mistakes of the past can be neither erased nor forgotten. But the lessons must be learnt, lest failure become the sole remaining option.
Hear, hear. The most important emotion to get under control in order to be successful in the market is, IMO, one's pride. One must learn to crush it and then build it back up again more perfectly and then crush it again until it is fixed. I have been busy with some personal matters in my extended family but do watch what my brother does and make no doubt about it he is learning. The B-team who are immediately and eternally perfect have no idea WTF he is doing. lj
Quick hindsight chart for yesterday <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2272847>
To get things in perspective, I've averaged less than 1/2 the ATR daily for the past two and a half weeks. Competent beginner level trading - channel trading even - using just the ES, should comfortably exceed the ATR, each and every time. The B-team don't even register on my radar. Every new incarnation is immediately added to the swelling ignore list.
Entered long on bar 5. 813.25 @ 09:54:59 In retrospect, could have entered much earlier in the bar. IBV was 'locked-in' well before EOB. Will post a log with the first reversal. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2272876>
First log page done. Still long. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2272993>
In one of his last messages, Jack said he would have liked it if this became like the ES journal. Except instead of discussing the recent past, attention would be on the impending future. I looked through that thread for the first time yesterday. Was amazed at the level of activity. Almost like a real-time chatroom. An active crowd, entries every few minutes... Still long. Anticipating an accelerated long traverse. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2273023>