YK, This is beautiful..., and perfect Sir (The absolute best approach/ methodology - applied (by the trader) randomly (aka emotionally) - is no better than a 100% losing plan Actually is it worse - as results from the best approach / methodology are random - at best) I know this phase is frustrating as hell - but its necessary to ingrain the discipline - that'll stick with you the rest of your trading career Keep on Truckin YK RN
I remember long ago I had 23 losing trades in a row for long term trading, was down $4850, did everyone of them same way, on 24th trade in Coffee kicked rump and made $15k, you just never know, and I remember the coffee trade didn't look good, learn much about myself and about the markets. Profitable trades often looks horrible and my opinion stinks for long term, so I just stick to my Trading Plan. At least then if it losses, it is Trading plans' fault and not mine.
Thanks @Redneck this was really encouraging to wake up today and read. Sometimes on this journey I wonder if I am just blazing a path in the woods when there is a paved trail only 10 yards to my left or right. YK
(Click... lightbulb goes on...) If I stick to my Trading plan, then at least if it losses, it is the Trading plan's fault and not mine. Thanks @Handle123 I could just feel that when I read it. As a kid being in that super strict private school, there were so many rules that were impossible for a teenage boy to keep, that one felt like "they were wrong". Now I realize it was the environment (ie. school plan) that was wrong... not me. I really get this, if I will just stick to the plan, then losses that happen are a result of the trading plan... and so are wins.... my job is just to execute the plan and nothing else.
Great discovery yukon! Remember it. And as H123 said, tweak it after hours. There's always tweaking involved. No right or wrong. The trades worked or didn't. Next. Numbers game. Like following your journey. Wish you the best.
Whoa down a tad YK This is absolute fact This however; Uncertainty reins supreme We can do everything correctly - and still lose (the trade breaks down) We can do every conceivable thing wrong - and the trade still profits (the trade works) =========================== What you're doing by instilling discipline - is removing the trader as a variable / random variable Trader becomes (a) constant RN
A little sumpthin..., sumpthin to carry forward; Do you find any of those extraneous thoughts / emotions..., in any small way..., beneficial to your trading Obviously the answer is; hell no ============ Allow my mind to stay calm and tell myself to just let things work out. I had no idea how the trade would work out... I just don't mess with it the plan. Overall the day was good. Checkmark. My brain was quieter I find it really helps to focus on just doing the correct action. It is very important that I prove to myself consistency at staying disciplined with a plan... zero deviation. ============== My achilles heel is all that stuff floating through my brain while I am in a trade. There is ABSOLUTELY NO reason to break my rules while trading... I can change them after the day is over, and modify or try something new.... but during trading hours that is totally the wrong thing to do. So yea, this has been a good exercise to sit there and just stick with the plan. =============== My job is just to execute the plan and nothing else. =============== Get some rest…, clear / center the ole noggin Tomorrow – back to the widget mill we go RN
Thanks @Redneck ... I hope you know how encouraging you are to me! Always good stuff, and helps me keep the focus on what is truly important.
Been Cub fan all my life, so I know how to get use to losing, only the first game and they have exciting talent, but Lester making big bucks and can't hold a runner or throw to a base? They don't run in American league? Well, laying in bed, know outcome against St.Louis, might as well trade, right?