I Can't Make a Friend of the Trend | Psychology and Money Management

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I Can't Make a Friend of the Trend

  #11 (permalink)

St. Louis
Trading Experience: Beginner
Platform: thinkorswim, NT8
Favorite Futures: equity and fx futures and options
Leon of Pizza's Avatar
Posts: 133 since Sep 2013
Thanks: 92 given, 168 received

1st practice

Tried it out on Pres day. This is the journal entry:

Replay. RTY 2/15/19. Attempt to condition myself for with-trend will to participate. First practice so made some rules:

1. General replay and sim rules - except the random pick. Pick a known trend day.
2. No counter-trend trades.
3. Exit at all regular T1 exits. This makes for more with-trend planning and entry experience, because it puts me flat more often and for more time. (Size is still limited to 2, so just canít buy bigger and swing).

Presidents day and started 6h or more late. I immediately noticed that my memory of the day wasnít right and this feeling carried through to quitting time. They made a series of contracting bull flags through the day. I knew the first 2 were big enough to stop me out, but wasnít sure beginning around late morn. I didnít feel any bullish certainty, like I expected, but rather the regular level of uncertainty that is average for most days. Being wed to the with-trend side felt like a neutral comparison w/ the not knowing feeling of live. Using the regular risk/reward methods is key to being able to test these feelings.

The result was a surprise, but Iím still optimistic that the intended conditioning is possible. Maybe the big secret solution to beating a counter-trend bias is the revelation that neutrality is key. That at least sounds like an improvement. First time out experience has me wanting to go again.

----------------- end of journal entry

Then today, traded like I always do. I sold the 1st PB for a winner and I was one and done on the day. Couldn't be bothered to take a buy for the rest of the day. I'm less pessimistic about it anyway.

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