Yukoner, You been at this like 7.5 months now? You have learned some, are you ahead or down? You have shown times of great discipline and too often of lacking discipline. I and am sure others believe your subconscious lacks happiest in your Trading Plan. Having big down days and profitable days are very few of huge up days. When I was groping along in my development years, early on of being even after several months was good, but cause of no steady equity curve up, stress came in and I would star to lose. It is always easy to say just concentrate harder, but tough to do as you are all consumed at doing well. New week, let's go get 'em.
Anyone know what happened Yukoner, as no sign of him since June15? When I seen him trying to daytrade CL, and losing $400 a day, I knew he was going nowhere and it was only a matter of time, as anyone who trades CL knows that you must be very sharp to beat the Nymex gang daytrading. This prop trading stuff is mostly crap also, and you are always better off to trade on your own, as listening to others will only cost you money, especially when they are mostly youngsters who think they know everything. J_S
Just logged back in, after stepping away from this journal, for l guess well over a year. First, let me say how grateful I am to all who helped me in 2014 and 2015... you know who you are, but the two who I must highlight are @Handle123 and @Redneck . Lastly, there was a person who took the time to send me a very detailed pm (which I just got today), and I will keep them anonymous, but publicly thank them. I have learned a lot, a ton about myself. I realize now, that I needed to love myself independent of trading! For some reason, I was allowing my trading success to define who I was as a person... profitable trades, and man I was a success... unprofitable trades, and shesh I am such a loser. I know now, none of that matters... all I can do as a good trader is execute my plan and rely on my edge over time to make me profitable. And regardless of my trading account balance or history, I am a great person. I have also learned that you need to be emotionally stable to trade successfully. In my case, I was still suffering the lose of my wife leaving me... for others I see some trading as a way to pay off debt, or fix their retirement challenges. That isn't the place to trade from...your mindset is coming from a place of scarcity, which then makes it really hard to put your blood, sweat, and tears at risk. I have learned that those who are truly successful in this game will be humble. It is like a requirement. The market teaches you that long term. You are forced to learn, that if you do get cocky, it is just a matter of time until you will be humbled.... so you learn to stay humble. Today, I would describe myself as a breakeven trader. I also have learned that I am a discretionary trader. I do have an edge. Many days/weeks I can pull off consistent profitability. Where I stumble now, is that every so often I have a lousy day, could be market state, could be me... and when I do, I give back way too much. I know I can make it again, but my next journey is learning the optimal point to call it quits for the day because it just isn't my day. Grateful. Sincerely grateful. I love what trading does to me as a person. I now love my opponent, accept him, and we are friends...we work for the common good... we are a team. Good Trades, YK
There has been real trading progress : one year on "psychology"? Nice to read you are now a much nicer person. And yes, if one really wants to get into trading sooner or later the psychology hits in, and as the "dejunking" starts, the person becomes nicer.
it is really surprising how much we have to change as a person if we are going to be successful in this trading business. Now I actually feel myself slipping back into the "old guy" and during trading, I just have to stop it... slow down... breathe... and tell myself that this isn't the correct mindset. I am focusing on sticking with the new one, until it just becomes normal!
We will change systems and we will change rules, but the old bad times will always be still be there, you have to monitor yourself each trade and get into a groove of doing the same each trade. But I guarantee you, you treat this business in least little way of not being serious, the "old guy" can snowball into many ideas of not doing right.