if it thought i sucked yesterday..the only way to explain my trading today is vomit. pure vomit. yesterday too agressive today too jittery....traded like crap....last two days feel like big steps backwards....fear of losing got to me today...total choke fest. ugh. 1. long rocket 10:05 s(93.75, 82.64) macd hist +.835 long on break...vol spike at 10:15..saddam crap...new crap put on alter for exit...exited at 886.25 long @ 882.75 sell @ 886.25 +3.50 day: +3.50 17 days: +36.50 2. short rocket s(9.76, 19.22) macd hist -0.99 short on break, there was big vol on signal bar (21,435) worried about exhaustion bar.. .11:30 low volume inside bar(6,229) still well within trend macd ok, stoch ok and it exit on the break of high of low vol bar @ 877.75. short @ 867.75 cover @ 877.75 -1.00 day: -2.50 17 days: +35.50 now i had chances to get back in, but did i...nope. choker. even saw the 11:50 tiny vol/price, but didn't do anything when it broke lower...all i could think about was yesterday whip fest. anyways this trade should have been a whopper...i even had the range break spotted on my charts (11:15-881) but waited for rocket signal. real trade=whopper me=idiot/choke moving on... 2:00 failed bo, but didn't bit so was looking for a reversal rocket.... 3. long rocket 2:25 s(85.00, 79.21) macd hist +.54 missed my entry (first one ever) and then chased (brilliant!) entry to 872.25 and it basically reverses in my face. long @ 872.25 sell @ 869.50 -2.75 day: -0.25 17 days: +32.75 4. rocket fail macd xo reverse so the rocket fails and i reverse, but do i reverse right away (of course not)..short at 868.75...mkt reverse...i am getting chopped to death...cover @ 871.75 short @ 868.75 cove @ 871.75 -3.00 day: -3.25 17 days: +29.75 i have pulled the plug on my trading at this point 3:10 is a rocket signal...no chance in hell i am taking this trade...pass. 3:40 mkt breaks longer uptrend channel break...pass (good trade) it's like i see the pieces but just can't get it all to work right...not enough confidence. ugh.
Dont be too hard on yourself.. drawdowns are part of trading.. somedays will just be off.. Since you are discretionary type trader.. dont be fooled into going back in time and saying you made dumb mistakes.. because in reality you just did what your discretion said at that time... this is normal... this is your style of trading.. accept it... The most dangerous thing a disrectionary trader can do is start bashing himself on every losing day... you have to accept the fact that since you are doing what you think is best at the moment you dont have the benefit of going back into time and changing things... I always read traders say.. I made a mistake and sold too early.. or sold too late.. thats foolish.. the only real mistake is when you clearly deviate from your trading plan... which you surely did not. Whats even more dangerous is starting to play around w/ your indicators and altering your strategy after every so often... just stick w/ your trading plan and once it loses an impressionable amount of $.. stop trading and reasses the trading plan in general... otherwise milk your trading plan for what its worth --MIKE
3 trades -7.00 18 days: 22.75 falling apart at the seams...i will try and post details later after i calm down....traded more off of trend lines and failed badly.
Had to leave at 3:30 for weekend traveling. Here is Friday's stuff: Well, after the two retart days i tried to figure just what the heck went wrong....basically dealing with the open was killing me. i was drawing trendlines where there was just chop and trying to enter on any liitle break of a tiny trendline...instead of waiting for a rocket or rocket failure i was looking so closely i was jumping in at anything...the biggest mistakes was trying to enter to early....no rocket signal at all...no good macd....(stoch BELOW 50 for a long one time) just a trend line break....and in reality i was just getting whipped by the opening chop....in short i was NOT doing what i had been having success with...anyways went back to basics on friday and it offered a big 'ol meatball reversal...so a tough week with a good ending. 1. rocket failure--->macd xo reversal ok. up a lot into the # at 9:45 i did not have a position on long b/c just seemed like a lot of risk to enter as the # was going to hit.....anyways...9:50 big fat bearish engulfing candle (nq's was REAL big) and trend line break...i waited for the macd to xo...10:00 macd xo short 878.00....held until 10:35 bar with sideways action exit @ 871.50...stoch and macd were still giving good readings, but i wanted to get a winning trade in my pocket after the tough week. if you held you made even more. short @ 878.00 cover @ 871.50 +6.50 day: +6.50 19 days: 29.25 2. short rocket 1:25 s(5.26, 9.53) macd hist: -.47 v: 5678 also broke the low of day...1:35 bar reverses into the previos range and rocket fails. short @ 866.00 cover @ 866.75 -0.75 day: +5.75 19 days: 28.50