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self coach trading
Started:October 17th, 2013 (02:33 PM) by alejo Views / Replies:24,871 / 447
Last Reply:February 6th, 2016 (12:26 AM) Attachments:327

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self coach trading

Old October 29th, 2013, 06:11 PM   #21 (permalink)
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today i knew a lot of material to work on

i called the terror day today, in advance of hallowen
i decided to take a test live to save the monthly fee charting, and this test it cost me 4 month fee!
not only that
i break the learning environment, everything looked good
now i have fear, the afraid to lose have wakeup
i need to considerer only a test , a fail test
it is normal that in a test one feel afraid, anxious, nervous, and sometimes , also you have study the lesson, on the test you forget and fail
something like this i suffered today

also i trade sim in s5 for +20
and live i lost -30
50 tick of difference!
details on the journal
i have 3 stages of mood on lve
normal calm
i need to work on different issues
i said time to trade 820 to 1130
i break that with the crazy stage
i write down my thougts
+3tick is a little, i move up to the next resitence, or dreams with a big breakout
i see that the market is telling me "I am not going any more in that direction"
but i wait, i did nothing
stop out -3 -3 -3 -3 -3
good thing
last year i use to pullout the stop
now i left it and i hit it
but in trade 5 when i was chasing and quickly come back to -2 i was so tented to pull down the sl!!

but in sim , i scratch, or -1
yes i know that in real is difficult to scratch or -1
but i haven t intend to do it
i only enter on the border of the range
i break it, enter in the middle of the range
i need to recover
i need to do it
the loss increase , -3 -6 -9 -12..and the feeling that +3 is nothing
tge focus was the money
i couldn t think nor probabilistic neither this trades does not have importance, how?, it is my money!
i break my rule od
max drawndown 300
i reach that, but i want to recover
i have doubt about the system, the edge,
everything was frustration
and struggle
as before
i feel so bad
also i chase in a desesperate climate.
i don t know what to do
i need to think and re read and find some lesson to work on this material that i re discopver today
to learn to stop it this behavior
and try to replicate what i do in sim
or what?

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Old October 30th, 2013, 05:59 AM   #22 (permalink)
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prague, czech republic
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I don't know details of your,system but with a stop loss so small and targeting break outs I believe you could be much better off targeting much larger wins that can offset many losers and fees. If you trade 3 to 3 even if you manage to win 80% of time you just slaving for your broker and a little bit of extra slippage on stops will totally change the picture.

Trade to live. Not live to trade.
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Old October 30th, 2013, 06:27 PM   #23 (permalink)
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sim good live bad and "4 what i am doing ??"

today i starting a test doing the same trades on sim and live
sim live
Tr1 L-1 L-3
Tr2 S-0 S0
Tr3 L-1 L-3
Tr4 L-1 L-22 close it in margin call stop was -25

I continue with sim ,i made 13 trades 4L 5S 4W =+8

how is possible?
on trades 1 and 3 it happens the same , when i want to exit, i put the target 1 tick near and got exit in sim also the same to scratch, to reduce the losses
but in live does not work this, because the limit order is more dificult to go bid offer and fill
and the mkt go to my stop loss, the only is exit at market to try to loss-2 instead of -3, but scratch or -1 is dificult
i get in trade 2 because i have a backticking spiking and fillme.

trade 4
the same, go bad, then i want to exit, in simk ok -1, but in live i was not get filled, i got angry
then i move the stop, and i decide to transform this on a nice swing trade, because i was bullish
then i convinces my self, (what i am doing1)
and soon the mkt go to my favor
mfe+14 , i pull the target, let stop far away , below the low of several days plus a couple of ticks
and i decide to let it run several days (what i am doing2)
yesterday i lost -500, today i started with -100, ok , now with this swing trade , the long term buy and also a B/o
i write down my posible target 128.7.5 129.24 131.16 and let it run (what i am doing3)
i went to pick my kids and i want to come before fomc, but with the change of daylight time , i realize that i can not reach for that, ok, no `problem for a swing trader ,go to make some shopping, and when i come back , i see the bonds have tanked, now intead of +14 i have-20, and also my stop loss was not hitted by 1 tick , i was lucky, say, i put stop gtc, but i was in margin call, then they close it....
(On top of that, i set up a chat of ft71, and they are talking about es, and the i open the es dom for infinity and i made 4 trades,(when is around 1762/1764, it looks a bottom, -2-2+1-3 -6, (what i am doing4???)

what i see here:

4 (what i am doing)wiad
all of them come back against me in a terrible way
wiad1-if in the trade 4 i could exit at -1, i must exit at market or at -3 stop out, and that is.
but not, i am not like again to lost -100,
what happen here? i am afraid to lose, i am not believe that it is not important this trade
for this tiny account, yes, it is very important

wiad2 why i let it escape +14 i thougth about to take some money of the table, but not i say , i can play with the house money, to have room, for the fomc, for the swing, for the shake out,...

wiad3 why i believe that i can recover with 1 trade after i have lost in 100 trades like this?i forgotten?
i need to watch again how i can lost +70k?
and if it is very important the money for this tiny account why then i setup a stop loss of -$500
because i did not thougth that stop will be hitted!yes now i guess the future!and what about the "everything can happen."
i forgot those sentences: 1 trade does not care and 2 anything can happen when i trade live
i remember myself when i trade sim
also the focus i lost completely
self convinced-forget the rules-increase risk-change plan

wiad4 why i start trading with infinity?i feel like everything start with the live test i took yesterday
there start a chain reaction
first i stop sim trading in tradestation because the test (the excuse was to pay the chart fees)
i start with the sim s5
today was out of plan the trades simultaneously s5sim /live tradestation
then start again
and in the afternoon i did the infinity trades
i fundes the infnity account to use the atchart, but today when i see , all the stuff of ft71, all the people ready to take the money, i say, why not
iand i went 1,5 yearas ago, when i thought in that way
i realize that it is difficult to avoid trade if you can do it
but i was not trading a long time , but the problem was when i funded the s5 account the last week, i also re funded the tradestation and the infinity, then i am able to trade there
i had several intends to try to recover my previous lost on thise account, all them failed
probably i know that i have the possiblity, and trough the live test , i went to try again,
but very addict behavior, to open the dom y tic tic, sell, buy
the good thing was i feel the rejection , and what i am doing and i stop after dtarting seeing -25 -50 -75
i was thinking in a dream, again, the big bounce!
i know i am doing or ai trying to do the good thing in my sim test, also i am surprise about the results, but thise 2 days is red alert to how can i control to myself?
i do not know,
yesterday i have material but today , more material to think , and not repeat this things again, if not i can not accomplish my goal

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Old November 1st, 2013, 08:06 AM   #24 (permalink)
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madrid spain
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trading thoughts 31 oct

About the yesterday collapse, i was thinking that i forget the money i funded on the tradestation, adn the max drawndown -300 i have said before,
i have lost the focus when i did the infionity trades, at the same time with the others trades, i let distract myself, this was an old pattern , that i need to work on
when i let it convert the day trade in a swing trade , i avoid the pain to acknowledge a mistake
and avoid the pain to acknowledge that i am not acomplish with i was promised to me
also i avoid not to do it something right now
also i have the exceitement of big winners and big losers that i was to use before
if i was ok in SIM test, why i stopped?
i need to find the answer in my self

it is interesting something i read on the self coach book about to track my energy, alerteness, stress, tiredness,health feelings
i remember i read jackross charting the traders life ,
and i thinking in these things

i came back to to the sim arena, and continue with my tests
in the process of become a consistency winner trader
i was thinking in the money management, and i realize that are a lot of trades that mfe+ and +2
then i decide to test, an startegy with more lots, less winn average and less risk(also i increse a risk per trade, in case to get -3)(i need to study more deeply the consecuences about risk reword and %, theoretically), :
in s5 :
+4lots with t1 +1 2lot ,t2+2 1 lot and +3 1 lot, keep sl to -3 and exit when is not working asap

in tradestation testing process from sep4:
+3lots with t1 +1 2 lot, t2+1 lot same sl

i take test and error, and buil statistic to study and to analyse

also i was setting daily goals and restrict the time to trade, and draw down rules to constrain the behavior, and let me more time to study

i realize with that amount of contracts , the broker is a key cost, then i can reduce : mores contracts more cheaper, if i trade more than 1000 , lease a seat or trade less.
initial goal
daily goal for +4lots +12tick, for +3lot +9 tick ,
weekly +12*5=+60-20tick costs=net +40
montly +40*4 +160
and this is a goal 1

for 3 lots +9
weekly +9*5=+45-15tick costs=net +30
monthly +30*4 +120
and this is a goal 1

the time window:
820 to 10.30
max losing trades per day 5
max trades 20(it must be 10), but depend on the average that i do not know yet
get the daily goal and stop
for 4 lots
max loss per trades -12/$180/1.8%eq
max losing trades in a row 3 trades
max loss per day -36

for 3 lots
max loss per trades -9/$135/
max losing trades in a row 3 trades
max loss per day -27

i started in s5 (4lots)good but then went to negative territory and later pass to positive, get the goal

in tradestation(3lots), was fantastic, 3 trades 3 w, get the goal, stop

i feel good
like i got it, and start imaging swinging much more lots to get the final goal
i feel confident and i am sure i am stay in thye right path top get it
(what crazy, i snt it?

the day was Open Rejection Reverse i think (i need to understand more mp)
big sellof again , and i think i need top check if this days are riskiers and what day is better for my scalp
i hear ft71 than the paradise of scalpers are the Open Auction In Range, and then could be intelligent to attach to that days...i don t know

i was calm, focus, and that was good

today (1/nov) i am planning to attach the same of yesterday , ihave a hard conviction

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Old November 2nd, 2013, 03:33 AM   #25 (permalink)
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building self confident

Futures Edge on FIO

What happens to the S&P 500 when a new President takes office?

uauh! today , i feel so well
i made 2 trades in TS and done
i made one more in s5 and also done
i traded less than 1.5, and after that relax, work, in other things.upload the journal, reports, ..
i trust in myself, i have a great focus, execute quick, and with the new strategy the TIT is very short, i almost dont have time to have fear.
i made the rigth decision, and i am feeling on track

i was thinking why i not continue trading?
but 1 the rules and the goals set it up
and 2i have enough experiencies to control my self and say, how many times, i give back everything and more...back
the market move a lot, but i did t care. i know that its looks like i was losing the big move , and a lot of money, but how many ticks can i lose, if i try to catch it?
and for what?
now with my goal in mind, consistency, daily weekly monthly goal in mind and the possibility to increase size, i feel calm and comfortable.

i have to manage only 3rd target in one trade that is not working and i close it, the rest, worked alone.

i need to continue with this mind state (but alert for the overconfidence)
of course , my real fight will start when i go live ...but for now, i am training my self, and ty to discover my problems tod eal with this

i am planning to use the daily kit to help me to control myself:

1 termomethers to control my frustration/overconfidente status
2 trading rules sign to watch them and remember them
3 checklist of premarkets to do the preparation and homework before trade
4 countdown clock - 2h10 to stop trading a mx amount of time
5 checklist losers/MAXLOSS To stop when i reach them to control if i reach the limits and stop
6 risk check ,i took the idea for a web page t morge, that send me the link tbondtrader thanks! and i will write down ,each time a take a trade one check (fotocopy from my real checkbook) with the amount of maximun risk per trade $190 4l/$140 3l that i want to risk to trade each time
that can help me to watch that the risk is real, accept the risk and give that money by lost if it become in a loser, recognize the risk in advance, watch the money out from my account and not suffer for that
later i can compare with the result, and check that the mkt give me back the check with a plus if it is a winner
and try to learn: it doesn matter the outcome of one trade, and everything can happen
i hope it help me to learn, and try to incorporate and used to do the right things

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Old November 3rd, 2013, 07:04 AM   #26 (permalink)
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it seems that is very importante to have first a vision , to get there, then if i do not know why i want a bunch of money, then i will not get it
in this exercise i set my ultimate goals for the money, and why i need it,
the category could be

money for:

grow the account to become a cbot exchange member to reduce costs
recover the money i have lost
recover the money i have missmanaged
recover the asset i have lost
grow the account to set up an investment company to reduce taxes
setup a saving account to retirement
setup an account to expenses
help for my family and friends
spanish main house
boat and caravan
spanish country house
spanish field
help for charity
switzerlands winter house
argentinian downtown house
argentinian country house
argentinian field
help for charity
philipines island

later i need to add the money for each but i have enough motivation to extract a lot of money from the market

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Old November 4th, 2013, 11:55 AM   #27 (permalink)
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week nov4 nov 8 goal

today i was working in the morning and take my boy to school, and i was in a little hurry, also i realize that probaby i can t accomplish the schedule 820 till 10.30, because this week he is staying with me , and then probably i need to start late than 820, then may qustion was i stop 1030 or continue to complete the 2hs10min?
finally i start 818, but , in a hurry
i prepared today the check copy to extend in each trade to realize how much i want to risk and lose
i have made some execution mistakes with the 4lot strategy in S5 (i did not set the quantity to4lot, and i receive a error message )i made a couple trades, up to i found out what happen)
this week i try to journal in very positive way to receive a positive feedback.
first of all , i spend a lot of time on the weekend about the main goal, and why i want a lot of money, that ,on top of my high level of selfconfident that i am on right track, let me feel very good and positive
i wait the day to trading , and i sit on front of the pc to reach the goal, in my mind i was asking in how many trades, but not if i reach, fantastic confidence
i am trying both system to find out what is better, but not for it works or not, fantastic
i was watching the market while i made some jobs and i saw a nice move B/O , but i do not feel nothing like i wanto to go, i miss the move, no, no
i know that i want to wait my schedule, acomplish my plan, wait for the entryies, and take my money
also i try to understand the expectancy, and study theoretically these systems, and i am working on that, and the excell to analyse the s5 trades, because it has same issues with errors
i made 5trades in TS with 3 lot for +11 i was done.

later i saw a nice move and i made 1 more for +4 total +15
i need to work in not trade after the 10.30 ....and also if i reach the goal done stop fo the day.
but it is understable that with that nice level of confidence and watching the market, and a clear setup, that i took that trade, i apologize me for that

with S5 i reach the goal in 4 trades +12
but because the initial error with the execution, i was won +2, i feel that i did not reach the goal +12, because that extra prize of +2
then continue trading
i made 4 more for total +18
also again, here i could stop earlier, but apologize also

nice day, and i wait for tomorrow, calm, and confident
i will take more time to premarket prep

ok, carry on that way

Last edited by alejo; November 5th, 2013 at 07:17 AM. Reason: correct
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Old November 4th, 2013, 12:07 PM   #28 (permalink)
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Well done, there is no hurry - ever.

Travel Well
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Old November 5th, 2013, 07:52 AM   #29 (permalink)
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prep for nov5

this morning i take my boy to school and then i walk 1 h for the seafront promenade, i work a couple of hs , and the i prepare the pre mkt, print and fix the sign with the rules, print the termomethers, and the checks, study the charts and the levels, and i am going to make mental training before to start
I have made some calculations and with this scalping the cost per lot is a key, also the tick per lot, then i setup a limit for 10 max trades for a day (and i will fight to get 5)
i feel well, confident, calm, fantastic

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Old November 5th, 2013, 12:58 PM   #30 (permalink)
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result for nov 5 a hard day

i started the day with 100% confident
but i spend a hard time, mainly i trade counter trend , and almost on the wrong side, i was fighting, adn struggling, specially with the 4lot strategy
i think i did not believe to the trend
i was waiting for fade it
i catch several trains against me
but was good , the way i continue trust on my entries, and specially how i have recover the drawndown
the cumulative result was -4-4-3-7-0-12-5+2+9,
i was feeling a little bit anxious, and the frustration temperature was going high steadely
as i was trading the 3L strategy,on the TS, that was better, because the shorter target, i have had some positive feedback
i was surprised today with an entry +3l that only feel 2 lot and go up but the targets did not work, the move was up+3 and come back ....this situation, i need to find out, to avoid or know how to solve it when i go live, specially when i swing more size.
i start using today the risk control sheet, to help me to realize how i am doing, according my rules, to count the losses i have, and if they are in a row, or not, and the amount of losses, to stop if i reach to the limit
sometimes i did not have time to extend the check because the speed of slip down of the market
i realize that , as i do not know recognize and take advantage of the trend, i do not like this move
i prefer more slow movement, also with this tiny strategies, i am not able to catch biggers move.
i have done the pre mkt prep, i have executed correctly the trades, i acomplish the plan, and i almost breakeven in the 4lot strategy , but ..well done,

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