YK ~ 13 hrs till open Clear / center the ole head - get some rest Tomorrow..., we keep on keepin on RN
I have done this more times than I care to admit, LOL Get my coffee going, boot laptops up, sitting and wondering if I missed have some holiday then realize it Saturday. Then you really start to realize there are only five days most weeks. Ah one more day and few hours and Sunday afternoon to play the game.
Yk, Familiarity breeds lackadaisicalness Six days does not a habit - nor change make - it must be from this day forward Head down - keep doingthings differently - else the loop not altered The job of making widgets (1) Take the first trade as per the trading plan; (2) Note the PnL (or ticks). Immediately do a "go/no-go" analysis and disregard the PnL/Ticks -- "go" if your daily stop limit is not hit/surpassed. (2.a) If "go" goto step (3). (2.b) If "no-go", shutdown the computer, and do something else. (3) When you get the signal for the next trade. Skip the trade. Instead, write the trade down in your notebook. Just sit back and observe the trade as it progresses (this is very important). Document (in audio/book) all your thoughts -- the urges to trade, all the self-talk you have, your feelings etc. (4) After the trade in (3) is complete, go back to Step(1) and start all over again. Notes: (1) For any reason, when in step (1), you enter a trade not in plan, close the trade, write it down. Shutdown the computer, and walk away. (2) Do not review the documented emotions as part of step (3) at the end of the day. Instead, review them the following Sunday morning. The tool for self monitoring Pay attention to your body at all times, as soon as you detect any of the following (only this nothing more): 1. The slightest change your heartbeat rate; 2. shallow or fast breathing; 3. tightness in chest; 4. queasy feeling in stomach; or 5. uncalled for smile or joyous mood Take note and write it down. Once noted…, ask the question; why is my physiological reaction occurring Write down the first answer that comes to mind. Don't dwell on the answer or try to get the "correct" answer. Just write down the first answer that comes to mind. There are two types of answer you will get. (P-One) could be: "because I thought my stop was going to be hit". (P-Two) could be: "because I saw price reverse". When your answer is P-One, you are extracting the thought from your sub-conscious before the thought bubbles into your consciousness and starts chaining. When your answer is P-Two, you have stopped the thought even before it is well formed in your sub-conscious mind. Incorporate: (a) Becoming aware of your physiological change; (b) Writing it down; (c) Asking the question; (d) Writing down the first answer that comes to mind; as part of Step 1 and Step 3 in your process. The daily mantra Today simply another new day We are the same No matter what happens / we think / we feel / mkt does We identify it / we acknowledge it / we through it / we set it aside / we move on We do our job Screw the results ================ I really, truly just want to be consistent and stay disciplined. As you must – each and every day – if your goal is to be a trader RN
A Question: This occurred to me this morning as I was going through my trading prep, in doing these exercises of mindfulness and awareness... and then learning to get to a neutral place... does it jeopardize in any way one's day to day feelings of love, excitement, passion, etc.?
Jeopardize - no What is there - is still there How you perceive it..., how you're affected by it - most certainly changes Ultimately - you'll possess the ability to decide how..., and to what degree - if any - you're affected Trading does change a feller RN
@Redneck: I saw your post just today -- was out of commission this weekend. Late Friday, the wife kindly suggested that I should consider marrying the computer. Given that it was our anniversary, it could only mean that the wife was alluding to something; except, I did'nt know exactly to what! so was time to shutdown everything and follow her lead! Anyway, you captured everything to the T. I have nothing more to add to that post. Although, I have one question for Yukoner: Are you incorporating profit target too? I thought you did, but just wanted to confirm. If you are incorporating the profit target, then the Steps outlined in Redneck's post needs to be updated to reflect that. Please let us know. Regards, Monoid.
Yukoner: @Redneck beautifully put it when he said: Ultimately - you'll possess the ability to decide how..., and to what degree - if any - you're affected Mindfulness should not be mistaken for "disengagement", a common mistake made by people introduced to mindfulness in the western world. Mindfulness makes you more aware of your feelings; you still have the ability to choose your actions based on that awareness! It also helps you to be more focused in the moment -- imagine sitting with your partner in front of a fireplace on a cold night drinking hot chocolate, and you fully present there without your mind wandering away [thinking about work or anything else and ruining the moment!]. This too is the workings of Mindfulness. Regards, Monoid.
Day #38 (Mo step #10) - Slept well, rested up from a great weekend. I am really noticing a difference in my mental state by not having "trading" floating around in my mind during non-trading times/study. Still have to work on setting it aside, but now if it comes up, I consciously set it aside... and let my brain rest. (Thanks guys!) Went into today focused on doing my job. Letting the day work and sticking with the plan. Especially the new part of being aware of any physiological change. As I would write things down, I kept thinking there should be a better explanation... but that wasn't my job, my job was to just write down the first thing that came to mind. So I did. Such as: Tightness in my chest - "Thought I might take a loss" I put on some good trades, but had a hard time with letting my winners work out much more than 20 ticks. It was also weird, in that the Mo Trades just didn't seem to work out, or I would get stopped out then the market would move. Anyhow, checkmark! is what counts. Do the correct thing over and over again. I then was getting close to my daily profit target, and was being cautious about putting on too much risk just to make 8 ticks... but then I got an ideal setup, one that I know is a no brainer, and I barely hesitated and took the trade. Now normally I would have managed that trade better, but my daily profit goal was $500... and my commitment to @monoid was to shut it down after that... so I closed the trade, and shut down my trading platform. Yea, I left a lot of money on the table... but that is irrelevant.... all I was trying to do today is my job. Felt like it was baby steps at times, and bumping into things, but I got the job done. +510 -510 Mo ticks
Yukoner Way to go making some bucks, now you getting the hang of it, do the same thing each day, pat yourself on back, it is you that have to push the buttons, not the guy in your mind who is whispering "What are you thinking"? You have to persevere what mind thinks. All you emotions you have for others gets you to work place, but eventually when you are doing size, last thing you thinking about is girlfriend or the kids, cause if they come into your concentration, you don't have concentration.