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self coach trading
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self coach trading

  #91 (permalink)
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testing cash before the 1month punishment


alejo View Post
finally i paid for the mistake with 2 lot , i was reading and watching BM threads , and i get one thing that @bigmike said
it is a mistake? close it inmediatly, i will adopt it
i could apply it inmediatly because when I open the platform and i see a big winer open with -lot, i do not understand nothing, then i was realize that was another mistake , the stop loss of 2 lot was a -5lot
i close it quick (but was a winner, easier to close)
anyway, i took note
another thing i did today was to test again with cash, the famous final of the month pay your chart fee of tradestation
i think i couldn be able to trade 20 trades before the end of month, but i want to face to emotion, i need to face the emotions and live with those and practice the executions and decitions with them.
i know i will fell anxious, ok, accept and try to do the same things, than in sim, i have a little bit confidence in what i am doing, drawing S/R, TL, watch the dom, i need to close the bads quick, and go for mor than 3 tick in live, but i would like to think and trade in the real world of cash, and learn with cash, the tuition is more expensive, i try to keep in a minimum, if touch a limit DD ,maybe go FV5year, i do not want to go to forex, and also i want to use the experiencies in zn.
it was good, accept the losses, close scracht, of course made same mistake, (let become a mfe+3 in a loser), but in general i fell much better than last month
i try the next time to improve the execution
now i was thinking, what difficult is to fight against the temptation to think "what easy is this, whit this big moves, one can get rich", and really i need to put the brakes to avoid the temptation of the market saying, come, trade me, you can get it"
i need to say, not, re focus, and training my plan, my job,
I start doing the videos for the trades, and today i was talking louder the thoughts
i will get a webcam to record me while i am trading
the problem i need a more private office to da that, because the noise, and family
but i think i am feeling more controlled in this way, and i can review, the turns and top/bottom/ bounce behaviors , but is a big job to do it and reviewit, more time, but it is better and quicker to study the day, i do not decide if i will record my 2hs or more hs of the day


i realized today that on dec6, i set up 1 month of stop trading for the accident with the news while practice to do not move the stops live
i re start on 27 dic because the "20 lots RT and get the chart fee free (saving 99)", but ,finally it cost me 1200 again
i re read the journal to try to find why i went live again
it was to test the emotions live and learn the execution with the live environment
but ,why i forget the 1 month punishment?it finish on 6january!
and once i start trading live it is difficult to stop, or it is easy to go and go
but i am digging deeply in the hole

1 month ago i write " i am lost"
and what i did in this month?
almost nothing
i think i am desperately seeking "I get it", and i justify myself testing cash because i say myself "everybody say the real test is live"
but it is costing me higher tuitions fees

the last thing was the test with cash with 2lots with 20ticks sloss? crazy, i want to recover, but i know this pattern, is a killer aganst me
maybe a wide stop loss is less painfull ,than get stopped quick and say you wrong,brrrrr
pattern behaviors:
1 i want to be right
2- i move the stops
3-i start testing in sim the 5sl/4tt and i m not finish (i am thinking i need to test in cash)
4-i start to test cash but, without dom/jigsaw, and out of plan, then is not really usefull, is like i want to try to show me, i can make it in this way, different from the plan,
5i lost 2400 from the this account of 5000 that i was funded to test 3lots strategy , then i have 2600 only for 1 lot in ts, and it not was usefull the practice
6 i continue reading threads , looking for something to help me with the entries /setups, why i start doing this?
because i am not trust in my job

the times go on , and is like walking in a circle

1 i remember that, when the things looking better and i feel i was walking ahead was when i say:
2 i stop looking for anything new
3 i decide to trade a simple setups reading dom fading ranges
4 i try to repeat the plan every day
5 journaling

what happens?

it looks like when i could not repeat in live the 3lot strategy everything it breaks

i could not recover from there
i not finished the sim test, because i feel that does not work, but how can know if i do not finish?
then i jump to test emotions, lose money, reading more things, and then this is a way to stop

i find 3 things:
1- i stop to using the thermometers (frustration and overconfidence)and it would be help to avoid the behavior take a killer with 2lot swing trade open
2-as i have a doubt about what is easier/better for me daytrading or swing trading it is dificult to me say"i do not let an open trade", because i want to try and test", but when i analyse my trades, they show me that it hurt me more than help me, then it is smart to say not let an open trade
3-i find the matrix from @Bacon very usefull and right now i am going back to reread the journal and try to fill it, and i start using tomorrow as a daily tool to my trading

i remember a thought i have when i take the 2lot swing opentrade :"i stop trading, and need to read the elusive...PA thread, but meanwhilke i can have an open trade swing or position, maybe, this is a bottom and could go high for severals weeks,...."to show that maybe holding a contract could be very much better than intend daytrade, (i remember what could happen if i bought and do nothing...i know stupid thoughts, )but more and more i am thinking what i am doing,if i am so bad at this

actions:
re read journal and fill the bacon matrix
finish the 100 trades sim 5sl/4tt
question:
is i lost because cash issue, to solve them i need to do it in cash?
yes, but to test that i need to trust in something, then finish sim test

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself

Last edited by alejo; January 1st, 2014 at 04:59 PM.
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  #92 (permalink)
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Hi Alejo, this is just my 2c thoughts in reply to your latest post here. My ideas may not make good sense. As I'm currently undergoing my own "try a new method" phase because my old methods stopped working or got too hard to maintain with the noise in the market.

) if you are using 5k cash, it's best to stick to micro lots or forex. The general "rule" is to use 1 contract per 10k. or minimum 7.5k. So to do 2lot trading should start out with 20k.

)if your account went from 5k to 2.5k I heard a suggestion from a trading coach is to stay in sim only and out of live trading for 3 months then start over at 5k (can be scaled to larger accounts). That way one only loses 40 to 50% of an account every 3 months in the worst possible case.

)i would highly suggest finding or making up a trading system that has initial target of 7 ticks or more. a 3tick sl is just way too small for a 1 to 4 tick gain. imo, there's just too much noise in the smallest time frames for the lowest time frame scalping these days. It's actually worse imo than just 4 years ago. In 2009, HFT made big inroads and all these sever farms,and co-location really started their invasion. Now in the beginning of 2014, it's just gotten worse for the retail trader. So there's bound to be a lot of front-running at the small tick level. there had been recent news where now HFT firms were "caught" putting co-located severs outside of Washington DC offices which report gov't statistics and economic numbers, to catch gov't news and relay their orders back to the exchanges.

And have you seen the "38 steps" journey? https://futures.io/traders-hideout/1454-38-steps-trading.html Good luck on the journey.

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  #93 (permalink)
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could you rate me?



Cloudy View Post
Hi Alejo, this is just my 2c thoughts in reply to your latest post here. My ideas may not make good sense. As I'm currently undergoing my own "try a new method" phase because my old methods stopped working or got too hard to maintain with the noise in the market.

) if you are using 5k cash, it's best to stick to micro lots or forex. The general "rule" is to use 1 contract per 10k. or minimum 7.5k. So to do 2lot trading should start out with 20k.

)if your account went from 5k to 2.5k I heard a suggestion from a trading coach is to stay in sim only and out of live trading for 3 months then start over at 5k (can be scaled to larger accounts). That way one only loses 40 to 50% of an account every 3 months in the worst possible case.

)i would highly suggest finding or making up a trading system that has initial target of 7 ticks or more. a 3tick sl is just way too small for a 1 to 4 tick gain. imo, there's just too much noise in the smallest time frames for the lowest time frame scalping these days. It's actually worse imo than just 4 years ago. In 2009, HFT made big inroads and all these sever farms,and co-location really started their invasion. Now in the beginning of 2014, it's just gotten worse for the retail trader. So there's bound to be a lot of front-running at the small tick level. there had been recent news where now HFT firms were "caught" putting co-located severs outside of Washington DC offices which report gov't statistics and economic numbers, to catch gov't news and relay their orders back to the exchanges.

And have you seen the "38 steps" journey? https://futures.io/traders-hideout/1454-38-steps-trading.html Good luck on the journey.

according what do you see, could you rate me ?
thanks
alejandro

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #94 (permalink)
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Hi Alejo, you're welcome. I can't be sure, I can only guess you are at 18 to 23 or so. But rest assured, I believe you will get to 33 at some point as I can see you keep striving and have access to ideas and help here. Also often I think many go in "recurring cycles" in the rules. For example I felt like I was at 33 for a while , making money consistently for months, then fell all the way back to 18 and feel like 14 again. Then gradually getting up there again. then getting humbled again and falling back down. Also I don't believe in rule 22 completely. Methodologies can fail after a limited life. With the markets changing year to year, changing technologies, changes in market participants, many methods are rendered useless. Then a responsibility of the trader is to continue to have a "repertoire" of multiple methods so when one fails another picks up and hopefully continues to work.


Last edited by Cloudy; January 2nd, 2014 at 10:42 PM.
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  #95 (permalink)
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22 step


Cloudy View Post
Hi Alejo, you're welcome. I can't be sure, I can only guess you are at 18 to 23 or so. But rest assured, I believe you will get to 33 at some point as I can see you keep striving and have access to ideas and help here. Also often I think many go in "recurring cycles" in the rules. For example I felt like I was at 33 for a while , making money consistently for months, then fell all the way back to 18 and feel like 14 again. Then gradually getting up there again. then getting humbled again and falling back down. Also I don't believe in rule 22 completely. Methodologies can fail after a limited life. With the markets changing year to year, changing technologies, changes in market participants, many methods are rendered useless. Then a responsibility of the trader is to continue to have a "repertoire" of multiple methods so when one fails another picks up and hopefully continues to work.

hi, thanks for your feedback, it is very usefull.

regarding 22 step, i believe in that , because it is the difference after you enter ,how do you manage the decisions to go, exit, add, etc

thanks again

alejandro

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #96 (permalink)
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pattern to catch a big move


alejo View Post
the 24 oct trades were fantastic again, i cancell practically fear and hope, and my self confidence keep ing going up, it looks i made a break out of my self confidence.
I stay focus on the market almost all the time, the target work , the risk work, the scracth work, is it possible?

i was working on the list of bloody problems of my life and i was surprised the amount of them, i was wondering if they will block that i keep tons of money that i have planned to extract from the market, if it possible to de-energizer them?

i was thinking in what s the problem to see the market go away without me
las year i was waiting a big move to try to catch it , i never could,
then i was feel bad to loss that move, but now i am thinking, the market always is moving, and with this moving i can extract the money from them, little bit 3 to 3 tick
then, whats the problem that the market move away, no problem.
i do not to want to try to catch up a big move like 1640 to 1740 100 es point +400tick for $5000
or teh crude from 113 to 93 for +2000 or $20.000
because it is almost imposible do it with a little risk and that mean only1 trade
then if i am looking for 1.000.000 trades and
if I became a consitently succesfully trader" with 3$ o 4$ per trade then i get $4M
independently what the mkt do
that give peace of mind, no put me in a hurry
release to wait for the killing as i expected before.
fell fantastic

now i have fear of my overconfidence take over..warning

i was reviewing the journal and i see that this problem appear again on dic, try to catch a big move for revenge,a nd end in a big loss

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #97 (permalink)
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pattern hope to big win


alejo View Post
i have to focus in my learning process
set goals to let to to achieve them
try to grow my self confidence
try to see the process step by step,
avoid crisis, big losses
focus on the process
first focus i set was to set stop loss of 3 ticks, and avoid big losses
second goals was try to take the 3 ticks

fear and anxiety:
to overcome them i need to acept them

self talk:
try that a self talk be very kind

negative thinking:
understand that the thoughts are different that "Me"
the negative thinking we meed to stop it
how? with a stop thinkin ,and also wake up and get out of the screen , close eyes, deep breath

focus and concentration:
search on my words of self talking ,each time that i find myself thinking in a word "I" or "me" stop inmediatly and come back to the market

tools:
use the 2 termomethers (frustration and overconfidence

journaling the thougts process:
write 3 parts: 1)describe the event, the problem, what i thinking,2) what did i tell to myself wite the thougs, and feeling (also think to record) 3)what i did as a consequences of my self talk?
"search for automatic patterns"

warnings:

Hope and losing trades, because they start the process to want to go break even, and for that i can do bad things, move stops, then this give me frustration and sadness
then, when appear Hope better to go flat and think

re read the journal:
detect the worst trades and analisys them


i am reviewing the journal and i find, again , on cash appears this pattern again
i watching my self hoping for a big winner

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #98 (permalink)
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big killers does not exist? pattern


alejo View Post
i trade live on 29 and i achieved the goal to not move the stop on 2 trades
well done!
on the second, i let it alone, i went to to pick my daughter
i set a rule
if i move it or pull it
i stop trading for a month
while i am testing the scalp strategy real

i was Reading a study from day traders behaviors, and i am not alone, the most don t close the losers, the most close at las minute the losers, if they can let to become in aswing for the next day, it looks like it is an instict to let it run losses to avoid the loss
i need to fight against this instinct
also i reduce the amount of trades and try to wait to the borders of mp
(but today i did not do it ,i enter before the border, and buuum)

i face with my past with a lot of money lost while try/error trading live as a crazy
but now i know that the fantasy for a killer is just that
before i was looking that
also now i know the relation between risk/reward/DD
before i did not understand why i blownup or go back with wild swings while trade cl, gc, fdax,nq, soy,yen,....

i need to find a solution and look that the first is be able to cut and accept loses, i Heard a lot of time this,
but , i realized the size of this endeavor the last month when i suffered the emotions trading live

i repeat ," anything can happen", but really, i do not accept easy
I repeat "it does not care the result of this trade" i do not accept easy

what difficult is become a trader!
before i thought what easy is this

it looks like i accepted that but 1 monthy later ,again, i repeat the mistake, then i continue acting as i believe in that to recover

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #99 (permalink)
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how many times i need hitting the same stone?pattern close not let a trade open


alejo View Post
finally i paid for the mistake with 2 lot , i was reading and watching BM threads , and i get one thing that mike said
it is a mistake? close it inmediatly, i will adopt it
i could aplly inmediatly because when open the platform and i see a big winer open with -lot, i do not understand nothing, then i was realize that was another mistake , the stop loss of 2 lot was a -5lot
i close it quick (but was a winner, easier to close)
anyway, i took note
another thing i did today was to test again with cash, the famous final of the month pay your chart fee of tradestation
i think i couldn be able to trade 20 trades before the end of month, but i want to face to emotion, i need to face the emotions and live with those and practice the executions and decitions with them.
i know i will fell anxious, ok, accept and try to do the same things, than in sim, i have a little bit confidence in what i am doing, drawing S/R, TL, watch the dom, i need to close the bads quick, and go for mor than 3 tick in live, but i would like to think and trade in the real world of cash, and learn with cash, the tuition is more expensive, i try to keep in a minimum, if touch a limit DD ,maybe go FV5year, i do not want to go to forex, and also i want to use the experiencies in zn.
it was good, accept the losses, close scracht, of course made same mistake, (let become a mfe+3 in a loser), but in general i fell much better than last month
i try the next time to improve the execution
now i was thinking, what difficult is to fight against the temptation to think "what easy is this, whit this big moves, one can get rich", and really i need to put the brakes to avoid the temptation of the market saying, come, trade me, you can get it"
i need to say, not, re focus, and training my plan, my job,
I start doing the videos for the trades, and today i was talking louder the thoughts
i will get a webcam to record me while i am trading
the problem i need a more private office to da that, because the noise, and family
but i think i am feeling more controlled in this way, and i can review, the turns and top/bottom/ bounce behaviors , but is a big job to do it and reviewit, more time, but it is better and quicker to study the day, i do not decide if i will record my 2hs or more hs of the day


it is incredible, how many times i try to recover with the hope of a nice swing trade???!!

unless now i am put a written rule on my plan"Never let a trade open"

i think i was using as a excuse the confusing to mix 2 different things togheter, daytrade and swingtrade, maybe i can practice swingtrade , but this is other thing, now i am practicing daytrade, and use that for my hope and revenge feeling

if i want to practice swing trading, do it in other account, in other stage, not add confuse, pain here

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #100 (permalink)
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Platform: NT7, MT4
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alejo View Post
it is incredible, how many times i try to recover with the hope of a nice swing trade???!!

unless now i am put a written rule on my plan"Never let a trade open"

i think i was using as a excuse the confusing to mix 2 different things togheter, daytrade and swingtrade, maybe i can practice swingtrade , but this is other thing, now i am practicing daytrade, and use that for my hope and revenge feeling

if i want to practice swing trading, do it in other account, in other stage, not add confuse, pain here

@alejo, we all have been there, don't beat yourself. I certainly was. Just find out why you are doing it, look for the root of the problem, trying to win it back with one trade is just a result of the problem, not the root of it.

Trade to live. Not live to trade.
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