Hard to describe what this does for me, knowing you are in my corner...humbling, yet empowering. Much, much thanks.
Day #35 (Mo step #7) - Went to sleep with some type of cold, and woke up still fighting it. Had I not been following Monoid's steps, I wouldn't have traded today... but I wanted to stay with the plan I had committed to for this week. I did struggle a bit with whether or not I was doing the correct thing by trading today, but figured for now, it was important for me to continue down this path and to simply focus on doing my job. Not the best day for me in trading, all though overall I did stick with the plan. I made a few silly mistakes. Fat fingered myself out of a great short. Then completely missed entering a classic setup short. I did put on some decent trades, but the sideways range just chopped them up. I could really feel myself starting to slip in discipline, starting to get frustrated, and I knew it was time just to shut it down. I had a trade on, but when account came close to my personal daily loss limit, I just manually exited it and then called it a day as I also needed to leave to take my son to school. It did turn out to go my direction, but I didn't care. I really wanted to shut it down for the day keeping under the $400 loss limit. Just wasn't in the regular zone I needed to be to focus well. On the positive. Entered a Trade then Checkmark - Mo Trade - Recorded. Click, click, click. Journaled, journaled. -383 -140 Mo ticks
In my view - today was a step backward - how far backward tomorrow will tell Priority 1 Question 1 Option 1 Must always be; Am I fit to trade? When ever / if -> the answer is no - then no it is Not a good day RN
Yukoner, Some of my thoughts in no particular order. A bad day is when you lose a lot more $$ than you had initially allocated. Your daily % loss is worked out so that you can last the long haul. Every trade is a loser / Every trade is a winner. How do I put the odds in my favour so that I can be a winner asap (time is critical). Profits are not real profits unless you can hold on to them. J_S
Today - smidge over $7,500..., yesterday about the same..., Monday it was more - your point numb nuts RN
Yukoner, One thing I have learned from nearly four decades of back testing is when I first put on a trade I have a 50/50 of being profitable, in the 90s when I became more adapt using computers, adding money management rules, doesn't not change the 50/50% chance of success until they are optimized and IF traded correctly will give me better chances of success. Signals that give me nano second of intense fear in pit of stomach and up my throat as brain doesn't like trade and very often best trades to take. Cause some trades occur infrequently, brain is not as use to seeing these trades as much and receives fear emotions. As soon as you identify "silly mistakes", you have lost concentration and need to quit for the day, this often happens when you are not ready to make widgets first thing in morning. If you not fully there mentally, no sense coming to the table, am sure your cold was hampering as making errors, buy you going against the toughest traders in the world, if you can't be there fully, what's the sense? It is good you stopping before hitting limit. Handle
Yes, (and "of course!" Yuk says inside). I'm looking back now, and hindsight 20/20, and a bunch more sleep... I realize that I could have very easily put at risk the baseline discipline I have been working on since last week. That would have sucked! And all because I was run down and weary... should have listened to the other guy who was telling me not to trade.
Thanks for posting this. Going to take a better look at it over the weekend. Love the line...."If account stays stable, I will get winners"