Trading the Plan

Discussion in 'Journals' started by studentofthemarkets, May 27, 2022.

  1. easymon1

    easymon1

    STM, Off the top of your head what are your three top errors posted in under 4 words each?
    delete erro.jpg
    You appear to have a tendency toward overcomplication.
    Just write the error down with a pencil on your current pad. Now you have an Error Log. "Well Done is better than Well Said." Move on.
    If need be, then go back and tally your errors.
     
    #171     Jul 4, 2022
    studentofthemarkets likes this.
  2. Great idea.

    Here are my 3 to start off the Error Log with:

    1. Overtrading after losing
    2. Forgetting key factors
    3. Misreading market behavior

    Having a good checklist is going to help with all 3 of these!

    Thanks!
     
    Last edited: Jul 4, 2022
    #172     Jul 4, 2022
  3. easymon1

    easymon1

    What about
    missed trades,
    early entries,
    late entries,
    mut trades?

    You never do those? lol, or is it because you don't have your 'setups' defined with enough concrete hard-edged granularity to enable a Go-NoGo with enough specifity. Therefor, isn't it much 'easier' for you to gloss over those specifically identified error problems and rely on vague impractical prescriptive discriptions of result situations that you end up in as a result them?

    You strike me as a closet artistic trader.
    Maybe give that a try, there is a greater number of them to model. Written rules based trading requires tested trusted setups. That's all before trying to execute. Artistic traders? Ask around, see what you come up with.
     
    #173     Jul 4, 2022
  4. lol. You asked what my 3 top errors are, so I gave you 3. So I need to write them all down? Now I have to make more columns in my notebook!!!:)

    I make lots of types of mistakes! I will need a whole spreadsheet for this.
     
    #174     Jul 4, 2022
  5. easymon1

    easymon1

    Balderdash. Guilding your masterpiece data repository, that's just more evasive busywork.

    What you have listed in response to your biggest errors are simply discriptions of conditions that develop due to your errors, assuming that you have sufficiently solidified border parameters for Go / NoGo situations. Have you? Are they as plain black and white as something like this?
    https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-18#post-5309309

    Again, What about
    missed trades,
    early entries,
    late entries,
    mut trades?

    Do you ever commit those errors? Yes or no.

    [​IMG]
     
    #175     Jul 5, 2022
  6. deaddog

    deaddog

    Now add to those errors what you can do to avoid making them again.
    How do you stop overtrading after a loss? Etc.
     
    #176     Jul 5, 2022
    studentofthemarkets likes this.
  7. They might not be as black and white as they need to be. It's a little hard because there are so many ways that price action plays out that it's hard to find the same pattern happening exactly the same way each time, but there are patterns that have similarities. So I've tried to form my rules loosely enough to allow for capturing the similarities yet tight enough that they filter out the times that the patterns aren't forming in a tradable manner. I haven't finalized all the details of my rules yet because I recently switched to the 6E from the ES and it behaves a little different.

    So, that's a long worded yes and no answer. (Which I know you appreciate!) :D


    Yes
     
    #177     Jul 5, 2022
  8. easymon1

    easymon1

    Makes no difference to me.
    It's your time, your irreplaceable commodity.

    [​IMG]
     
    #178     Jul 5, 2022
    studentofthemarkets likes this.
  9. easymon1

    easymon1

    #179     Jul 8, 2022
    studentofthemarkets likes this.
  10. #180     Jul 8, 2022