Two main human emotions of trading are FEAR and GREED. But there is also DENIAL. Coolweb is in the DENIAL stage. He can not accept his loses or mistakes.
Its very convenient that Coolweb stops posting when he is asked specific questions about his trading. He will post and post and post about his trading methodology and how he "sees" things but when you challenge him he just disappears.
Day 11 I must EARN it... # of Disasters: 2 I must earn the right to trade more contracts. I must double my account each time if I want to increase my # or contracts by even 1 contract. I must EARN it. I must FOCUS on prices the whole day man.. My attention isn't there like the way I know I can. I am not motivated to do anything else rather than anything that has to do with trading. Thats not good because I got tons of other things to do, and I must get on with those ASAP.
Day 12 I Believe... # of Disasters: 1 I must be one with the price..one with the market. Still a long ways to go though. Having a stop limit for the day makes me cautious about taking certain trades. Thus, I finally realized that it is OK not to have a position open at all times. Just wait patiently, and take those quality setups. PROFIT everyday, and my # of disasters must be "0" everyday. I must also grind it out, and keep myself in the game for the whole day, because you just don't know when an avalanche of a move comes around. Thus, just grind it out and survive and let the market make the move rather than you forcing the issue yourself.
What do you consider a disaster? A certain $ amount on one trade? A string of decent size losing trades?
A disaster is a deviation from my rule. It even includes moving a STOP to give a trade a bit more room even when I am sure 100% that it will go my way. The right thing to do is, rather than giving it a bit more room is to get stopped out and start all over again.
Thoughts: When there is a strong trend, STOP placement for counter trend trades and trend trades should not be the same. Trend trades must have double the stop point, as opposed to the regular stops for the counter trend trades.
Day 14 Marching Onward.. # of Disasters: a lot.. I cannot break/change/mess around with my STOPS, rules etc regardless of how insubstantial the circumstances you think are. I have to contain risk...I close leave a hole out there for the Market to seep through into my account. I also have to stay consistent. I cannot move around my number of contracts too much. I also cannot let my losses get out of control.