Good you can stick with the plan, Big Pat on the Back. Now over weekend, fix the plan and tweak it every weekend. Cause if you end up at zero in account, all the mental success goes out the window. You can have protective stops engage when up 25 ticks and stops move to lock in 20 and every tick in your favor stop rackets up one tick, you can leave target off and let it just keep racketing up up up. But all should be tested. Each day is a step so long as you keep having some type of action, even going backwards is doing something, so long as you have a plan, and even standing still is action IF in your trading plan. I stand still often till I see well defined setup.
Yuk, Some days just don't feel like it , I need to move to better timezone, did some trades at home, then think, good coffee at Starbucks brewing, bathroom, clothes, laptop, out the door. Set up laptop, hit power, lock to table so they have to steal whole table to run off with it, stand in line and then trade, did a few of report trade then watched crude, after an hour of ES it was all I can handle for today, feel figgety or ansy, I know when feeling this way best to quit early. Time to go to the zoo when they open, walk around, let animals watch me figget. But I have a job to do, did it, time for others to play with it. Made my widgets. Handle
Pday #7 - Still slept a bit restless. Going into the trading day, I was a bit more aware that perhaps my headspace might not be at peak performance. I suppose that made me focus even more on my methodology. Started the day off seeing the market well, just didn't expect all the chop. That was fine, I adjusted accordingly as per plan, and stuck to my rigid guidelines. Saw one trade go with 1 tick of my profit target, only to reverse and stop me out. Checkmark. My last trade of the day, was up over 20 ticks... and less than 10 ticks from profit target... reverse to stop me out. Checkmark. But you know what. I am happy. I stayed disciplined today. Of course this isn't the best way to trade, but I stayed with the plan... as tempting as it was to lock in 15 ticks on that last trade and leave it work... I didn't. Stuck to the plan. Checkmark. Up against my daily loss limit. Stopped trading. Done for the day. Yet I feel in control. Not of the market, but of myself. This is a very good feeling, because I can remember not too long ago that feeling of... "What the hell... just go for it and trade". Which was then throwing the rules out the window. Now, even with really restrictive rules to trade successfully I am still sticking to those rules. One more day of this, and then the weekend... and I will review and then make a decision for what the plan is next week. -402
@Handle123 I hear you about the timezone... But hey, you must be feeling a lot better if you can go into Starbucks, power up the laptop and trade. Glad to hear that! Come visit Vancouver Island... we can meet at Starbucks and trade CL. That is some good stuff you are sharing here in the journal... really appreciate it. Those charts lay it out real well. YK
Yukoner, Might take you up on that new GF is from Vancover, WA area, Vancouver Island is north of Seattle? Ferry ride there? I know most of Starbucks folks so they keep eye on me, they have even dropped me home when not up to drive. I try to get out each day regardless, just go slower. Posted my ES chart on ES Journal, although how I trade ES, some of trades are only for chop whereas I would never do on crude oil. Anything to help.
Now that would be cool. The Clipper ferry goes from downtown Seattle to downtown Victoria, and is a walk on ferry. If you want to bring a car, drive north of Seattle a few hours and there are two different ferries you can catch over to the island into the beautiful city of Victoria. ps. Bring your laptop, eh.
One more day sir! Prepared... mentally ready... and then its Beer Fest Friday night. I'll see you Monday @Redneck , pending weekend homework, I may be ready for an upgrade. I started to say to normal trading... but I realized I don't want to go back to normal... I want new trading. Trading where I am always disciplined and sticking with the plan. New mindset... making widget... to hell with the results.
Thought a bit about this... really good advice. Any sim trading needs to be done like a fighter pilot would train... always trying to do the correct action while under instructions. That way we build the correct muscle memory. Good stuff. Thanks!
I never travel anywhere without two laptops, one for backup, all the bumps of travel, always taking them apart, have to have extra one used mainly for email but just in case.
Well, between hour of ES was all I could stand and couple hours of Crude, more than enough to end week, by time Friday comes, am wiped out even though I don't trade many hours. You don't have to trade many hours, really works against you unless you super trader. Oh yes, I was all day/all night trader at one time, but then you see or don't see you lose a decade of your life for this. Trick is less is better, put on entries where most wonder WTF he get in there for, risk cheap, markets like Crude and run/gun markets, you can make $100 in few minutes, take it and have runner going for 50, but it NOT a do or die trade. You have to constantly manage the risk, you don't want to get to one tick for 50 and then you risking 49 ticks to get one, who the hell is going to hire this guy? Be sensible, at some happy point, ticks go in your favor each 2 racket up one, lock something in on Crude. ES is totally different animal for me, chop city and I love it, can still get my $100, but often times only getting $12.50, but here's the thing, you get real consistent in your trading, making something each week, you start adding each month/week one contract, so even ten lot you make $125 less fees, more than Starbucks bariska- fancy name for "coffeehouse employee". Starbucks time. Hope you all have a mighty fine weekend.