self coach trading - Psychology and Money Management | futures io social day trading
futures io futures trading


self coach trading
Updated: Views / Replies:30,679 / 447
Created: by alejo Attachments:327

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 327  
 
Thread Tools Search this Thread
 

self coach trading

  #31 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

i feel so good

i was thinking about yesterday´s trades and it was very good to keep the resilience to stand up and recover twice from-7, from -12, also was a struggled day.
and today was incredible, my termomether of overconfidence was heating up, i know i need to be very cautious about this.
I was done in both account in less than an hour
i have accomplished the plan and stopped. well done
i have done the pre market prep.,print the risk control sheet, the risk checks, check the levels , done the relaxation exercises, re read the rules that i have fixed in front of me between 3 screens, well done!
I am on the track of becoming a consistency winner
i am sure that i will get the first recovery from the top, on the TS account starting balance$2000 i have reached almost $4000 and slip down to$2300, i have never could recover before from that kind of situation, but today i feel i can get it, without any kind of doubt
little by little ,yes, i need to understand it is a differente vision of the money that i can take out from the ,market, but it works.
the former wild swings i use to have in the past, they did not worked,

i can see the changes from oct 21, i made a click, and the chart
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


ACCORDING the 38 steps to become a trader, i markup the step where i think i am:

1. We accumulate information--buying books, going to seminars and researching.
2. We begin to trade with our 'new' knowledge.
3. We consistently 'donate' and then realize we may need more knowledge or information.
4. We accumulate more information.
5. We switch the commodities we are currently following.
6. We go back into the market and trade with our 'updated' knowledge.
7. We get 'beat up' again and begin to lose some of our confidence. Fear starts setting in.
8. We start to listen to 'outside news' & other traders.
9. We go back into the market and continue to donate.
10. We switch commodities again.
11. We search for more information.
12. We go back into the market and continue to donate.
13. We get 'overconfident' & market humbles us.
14. We start to understand that trading success fully is going to take more time and more knowledge then we anticipated.
15. We get serious and start concentrating on learning a 'real' methodology.
16. We trade our methodology with some success, but realize that something is missing.
17. We begin to understand the need for having rules to apply our methodology.
18. We take a sabbatical from trading to develop and research our trading rules.
19. We start trading again, this time with rules and find some success, but overall we still hesitate when it comes time to execute. We start trading again, this time with rules and find some success, but overall we still hesitate when it comes time to execute.
20. We add, subtract and modify rules as we see a need to be more proficient with our rules.
21. We go back into the market and continue to donate.We go back into the market and continue to donate.

22. We start to take responsibility for our trading results as we understand that our success is in us, not the methodology.

23. We continue to trade and become more proficient with our methodology and our rules.
24. As we trade we still have a tendency to violate our rips and our results are still erratic.
25. We know we are close.
26. We go back and research our rules.
27. We build the confidence in our rules and go back into the market and trade.
28. Our trading results are getting better, but we are still hesitating in executing our rules.
29. We now see the importance of following our rules as we see the results of our trades when we don't follow them.
30. We begin to see that our lack of success is within us (a lack of discipline in following the rules because of some kind of fear) and we begin to work on knowing ourselves better.
31. We continue to trade and the market teaches us more and more about ourselves.
32. We master our methodology and trading rules.
33. We begin to consistently make money. We begin to consistently make money.
34. We get a little overconfident and the market humbles us.
35. We continue to learn our lessons.
36. We stop thinking and allow our rules to trade for us (trading becomes boring, but successful) and our trading account continues to grow as we increase our contract size.
37. We are making more money then we ever dreamed to be possible.
38. We go on with our lives and accomplish many of the goals we had always dreamed of

i think that the exercises to found inside me what problems i have and write about them, and talked about them, help me a lot to do a click

how is possible that i saw the market as aplace i can lose every single day and get locked, and now a place where i can pullout the money everyday?

its all in the mind

well i know i am practicing, in sim , and the real test wil be live, but, when i learned to play golf, how many hours i spent in the driving range?, play , practice, play practice, up to i realize, ok now i can have fun with this

i imaging that this will be similar, now, i am feeling, thinking, all in alignment, that i can do it.

the results will talk for itself, but the long term results

Reply With Quote
The following 5 users say Thank You to alejo for this post:
 
  #32 (permalink)
Elite Member
barcelona
 
Futures Experience: None
Platform: ninjatrader
Favorite Futures: es
 
alextrd's Avatar
 
Posts: 53 since May 2011
Thanks: 39 given, 16 received

@alejo just I wanna thank you for this thread that is very helpful and I am following with passion.

Regards,

The bottoms of my shoes
are clean
from walking in the rain.
Reply With Quote
The following user says Thank You to alextrd for this post:
 
  #33 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

trades 7nov and imagine the future and position sizing


I went to have a breakfast at 5star hotel this morning to feel how will be my future, seat in front of the sea, drinking a 3fruit juice, and reading the self coach book.
i was with reach people there, and i imaging getting my goals, and feeling the imaginery.
when i read one chapter i realize that i do not know how can i calculate my daily, weekly, monthly volatility , i need to study that, it looks very important with the metrics i need to success.
Other thing that got it is i need to find what is my risk tolerance, nad then when i found it, i need to match it with the risk of my system.
I need to think about it, and also try to increase size , but really , here i need to test it live, to suffer the consecuences of the risk tolerance, but, before to test live i need to test in sim

i was working , in the morning , went to the supermarket, and then i went to pick up my boy at school, prepare the lunch, and then start to prepare the trading day, i planning today start later because all the things i have to do it.
instead of 820 i started at 10, i know could be different, but, not a problem, i will try
i spend almost25 minutes, checking the levels and watching the dom, alos i saw a fade, that i did not did it, and was it good, but i wait, i feeling different, than others day
in one hand i was feeling very confident but , i realized that i was afraid to trade, i do not why, i feel like i do not read well,
then i start, and like others day, the first trade is more dificult, but after that, i start getting into the market and feeling better, and i understand the mkt better, feeling the movement, also i have the presure of my girlfriend to go to play paddle (like tenis but in a smaller windows box), as was our plan, then i thought that today i could not reach the goals, but in the last 5 min i made 2trades more and done again, i could not believe, it is hard to believe how can i do it, but i do it, i need to trust in my self, it seems like i learn to read it and execute it, yes, it is real, in one hand i need it but in other hand i need to construct this new behavior, and forget the old that was one time.
but anyway, fantastic, well done, and go ahead in this track!!

Reply With Quote
The following 2 users say Thank You to alejo for this post:
 
  #34 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

winning and new highs of equity and selfconfidence

I was thinking in how many days i was winning (more than 2 weeks without a single losing day) and getting the goal every day, and it looks very impresive to me because i use to lose almost every day during a year, it is a very contrast situation white and black
i need to use to win and i starting to feeling that is not only possible, it is real, but it is hard to believ it, i need to make an effort to learn this new situation, I remember when i started and i was thinking, this is easy.
I can feel something similar, but at the starting i lost every day and starting panicking, and now, is the opposite, i win, and i start to feel calm, and comfortable.
But if i compare with one of my first trades , i win 9000 with aapl in the earning day, and that winning was very bad , specially it get me overconfident and dreaming stupids things, and the fell was worse, as you can imaging.
then this situation is very different, with my previous experiences, Now, i can value the 145$ daily profit, and i realize that it can provide me a huge sucess if i able to continue doing that with size
but las year, i think 100 is nothing and risk more with wild swings.
I need to overcome the fair of lose, trust in my self .
Yesterday when the S5 technician made some practices with my dom, trhought, teamviewer, also he is touching the demo account, when start to buy and sell, and sudenly start to lose , i feel strange, it was like real money, start seeing -10,-20, and i say this is imposible, i did not want it to lose, also in sim.

Yesterday also was my first time i was be able to recover from a drawn down.
the test i started on sept4, $2000 go high $4000, then go back $2200, almost to the entry equity, and then i start to recover , with the new startegy, cutting losers, 3lot strategy, focus on mind and execution.
uptoday nov13 i am on$4494. and going directly to my $5000 goal, without any kind of doubt that i can get it.

i was blocked by the broker several times, when i reach to my limit, and i did not underestand how is posible, so many times, go up, then came back, big draw down, and never recover again.
I am very happy and proud of my self to have the patient to execute a litle by litle wining, steady ,up curve.

And now i feel ,and i know that i can overpass the old limit, for example, 5000, 15000, 70000, that any ime i reach there, then go down, to blow up direction.

Of course ,this new state o myself, is worrying about the risk with my overconfidence, but i think if i continue winning and this become my default state , i need to realize that it is the new state of a consistentcy winner trader .

i need to pass the live test and the drawdown test, to show myself that i can recover without problem from normal drawdowns, and i need to trust in my strategy ,and if i can resist the stress of live money,
i was practicing a year with live money , always losing, i have live experiencies, bad experiencies, but i remember that,
i suposed that when i managed myself on the markets and trade live, i will be happy with the new model.

well well done alejo!

Reply With Quote
 
  #35 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

trading and golf as sportives games

My own reflexions about the learning process of both
Trading is a sportive game.
The paralell with golf:
At first I read a lot of books but I realized that they were not helpfull to learn to hit the ball
At first I went to play to the golfcourse but i could not
I had to learn golf with:
1)a coach
2)hit balls
3)to go to play 9 holes with a coach
4)to go to play 18 holes with a coach
5)get the golf registration ID
6)go to play on saturday while hitting balls every day
7)practicing 6 days and play 1

swing practice:
previous routine
mindfocus+concentration+relaxation
hit the ball without thinking
anything can happens

if i hitted the ball thinking more probability to get a bad shot

hitting a ball in front a water-------afraid-----more probably go bad

trading is the same: anything can happen+50%go to the water or 50% fairway

90/100 shots probab fairway 80%, with practice of the swing

swing is like the edge

stableford-------90 shots----36points-------18hcp
100 shots 36points -------28 hcp

trading 100 trades----100tick------18hcp
100 trades-----80tick 28 hcp
100 trades 60 tick 38 hcp
one game with 18 holes higher probabilty scalping
one game with 5 holes lower probability swing trading

edge are composed of technical 10%(limit)+mental 90%

swing are composed of technical 10% (limit) +mental90%
ST swing total
St swing technical
Sm swing mental
ST=St*Sm

ET edge total
Et edge technical
Em edge mental
ET=Et*Em

each has a limit but without mind one can not reach to that


I read in Mind over market

R=M+(SC*E)
R results
M market knoledge
SC self knowledge
E edge

very interesting
i work on self knowledge to multiply the results as possible i can

in trading i have one thing more than i do not have in golf , money management edge (MME)
trading
ET=Et*Em*EMM
golf
ST=St*Sm*1

the key are:
1)routine(premarket+mind exercises+visualizations)=stance+grip+check
2)Relax (breathe+think(50%each trade+anything can happens)=relax
3)visualization of yself+entry +exit=visualization of the ball trajectory)
4)trust in oneself+ = trust i the swing
5)open to the flow of the markets = visualization of possible trajetcs of the markets and entry=visualization trajectory and make the swing

in golf , the ball is still and i made the swing to go over a trajectory to my target
in trading i entry at still point to choose one posible trajectory to my target

ball shot trajectory target

posible trajectory (mkt) entry point trayectory target

it depends on me:
watch the differents trajectories in the flow of market
it is the same when i choose a 7 iron i hit 130 yds
5 iron 150

visualize the trayectory

routine: hit the ball i have a couple of minutes to do it
entry the trade I do not have time/i watch and entry

Trading is not the pèrfection game (like the famous book of golf is not the pèrfection game)
do not try to be perfect, only to go with your probability, and avoid big mistakes

Exists infinity path, infinity holes, infinity distances

that show us why trading it is very difficult also more than golf

also you play without handicap against the pros

form the 72 shots ,there are 36 puts
the amateur can compite on the putting green, unless is less difference than inthe rest of the course

putting scalping
short game
long game

short trajectory, more probability to get the goal

of course i need to practice both, and i like the putting and short game , maybe ...i find scalping the same


Last edited by alejo; November 13th, 2013 at 12:54 PM. Reason: colors
Reply With Quote
The following 2 users say Thank You to alejo for this post:
 
  #36 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

another stupid behavior ..again

yesterday i tried to make a couple of live trades on the infinity dom, but with only 1 lot, and then, i did not use my rules, nor practice that i am learning, only make trades, without this target, thinking, in a possible big winner, justify myself, this is not a real practice, also i have a little amount to risk, if i lose that ,infinity cancell the charts, again, up to i refunded again, also i let the position on, short, and i did not take a 7 profit ,let it turn in a loser, bigger, let an open position, and i was lucky to not get locked at -750with the mae at overnight, but i lost almost400, 1 month to make 2000 and 1 day to lose 400...evidently ,i have serious problems with the live account, why i do not practice only 2 lot 1 or 2 tick, as i am practicing every day?little by little, i justified myself, in a stupid way.
i need to concentrate in my strategy and repeat it live, that it is the key, i feel vey nervous with a position a lot of time also, then was like to come to the past, the black past, loser and loser.
i was thinking, if i got this lose, then, i am not right, and that is no t good for the record i have on sim,
1)fear to not be right
2)fear to lose
3)distracted
4)pull the stop
5)lose big money
pattern again again
i try to stop this, doing the right thing
conclusion: i need to concentrate and be totally focus when practice live, and only trade the practice. ok?
yes,
well,
i will funded infinity to let the 3 lot, and try to reproduce the sim, only that, ok?
don to forget to focus on your startegy, do not let position without target and stop, because it easy to get trapped on the past, ans start stupid things, and pull the stop, and so,on
yes, thanks coach

you welcome alejo


Last edited by alejo; November 14th, 2013 at 04:44 AM.
Reply With Quote
 
  #37 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

trading 14 nov

after the shock of yesterday, i decide to wire the money to swing 3 lot to infinity and practice the 3lots startegy live to test me, but with focus on what i am doing, adn not fly anymore.
this morning i was to a networking meeting for my job, and come back in a hurry to pick my gilr from school, i have time to sit, check the levesl and start trading, i started bad with 2 losers, but continue and then my confidence grow up again, and finissh with the goals done in less than hour.
my frustration go up when i lose 2 in a row, i know that if i fail one more, i need to stop.(rule 3 stop on a row, then stop)
well done, tomorrow i need to take more time before starting to try to relax and focus

Reply With Quote
 
  #38 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

trading 15 nov starting live test

today i have started a test live from 3 lot strategy, i trust enough in that, i need to check, what happen live ,
i start losing , a lot of days, is like start hiting the ball to the water.
I made a big huge mistake on my first live trade, i realize i was wrong, but instead of take the loss, i lei it run, move the stop, i did not want to lose money, i started with 2 lot because i have only 1470, then i said, i win 40 and next day start with 3 lot, imaging, when i planning to win(how can i think in this way!! on my first liv trade)
then i forget all of i have practiced, i write the check $90., but my overconfidence with none losing days, kill me also the must to earn money kill me
and my mind,IQ go down, also i was testing the 4l and 3 l strategy, and lose on the first 2 trades of both
finally , this time was lucky, to come back , and i exit at-1, i recover my IQ, mindware ok, then start to trading better, to read the market
This is a pattern"i do not want to lose money", and "I want to be right" "move the stop"
I need to re focus my mind :
accept the loss, it does not care what happen with this trade, anything can happen, it worked in sim
and now the big problem with a losing position: it is not acceptable!not any more!
I told you to every body, my girlfriend!i do not want to repeat this, i know that is very bad for me, and for my trading career.
i need to re focus on trade only the strategy, read the market, breathe, breathe, calm, open, and entry, if go bad, exit quickly
in live the fills are harder than in the sim environment, it is a little slower,a nd go to the target, and came back, and i
need to practice this, but i can not repeat the move stops
finally 5W1L=+8
now i get the margin
for starting 3 lots on monday, and repeat the process to grow the account, with a minimal DD, i can do it.

for today error, i can say that if you have enough money on the account , you don must make money and probably you accept the loss, dont worry , you are doing very well, and you can execute your 3lots strategy, you know that work.
and continue training your mindware, continue practicing and increasing the confidence, you are doing well.
very well

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Reply With Quote
 
  #39 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

practice swings

before to start the game, it is a useful practice , hit 40/50 balls, practice puts,short game, to warm up, to get confidence, and feel how you are playing that day, then inmediatly go to the tee of 1, and mae the shot number 1
take the drive, and you remember that a couple of minutes you did it, mental visualization, ang go.
If one day you can practice, because the driving range is close, or you don t have time, and you start directly, aproximatly you can make 10 more shots than if you were practice before.
My idea is going to the sim, make a couple of trades of practices, and when i am worm, go to the live dom and started hiting the live trades.
I think this lead to get more focus on the flow of the market, relief, the initial stress, and set the routine for the day.
I am planning to do it tomorrow
The goal for this week Live Trade is concentrate before to start, relax, breathe ,focus on the market, and only try the same i have it done during the last weeks, without thinking too much
It s like play the game, i have hitted the balls, and have practiced the game and its rules, now it is time to find out how well i can play on the golf course in the competition.

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Reply With Quote
 
  #40 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

trade 19 nov mix live and i did not stop at 5 losers


today was too busy, too much
i start late, in a hurry, impacient, i need to work on that
s5, ts and inf live
a lot of trades but only worked ts 3 lot strategy
i am getting confortable trading live , with 2 win days, well done, and controling the drawn down ,but i notice the big difference with the fills, than i used to.
strange thing sometimes i get filled live and the s5 sim not?
i have a rule 5 losing trades stop and 3 in row stop
in s5 i have 3 in a row(-10) but i continue..also i finish +8, it was bad, more attention tomorrow
and in liv,e on trade 9 i got 5 losers , and i made the 10
definitively i need to wait more and choose better options ,because it was too much time and trades,
well done with the test 2000 to 5000 , today i am at 4922.25, only at 78! from the goal
probably tomorrow?, maybe
well done
i need to practice the 3lot strategy live on ts to compare the real live asap
ths s5 is almost discard for several executions reasons
i will open one with amp for 1.68 rt that help me to reduce costs if this strategy works (and with a leese can get 1.30rt)
goal for tomorrow, focus, concentration, mind practice, before, not hurry

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

Reply



futures io > > > self coach trading

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Gary Dayton Trading Coach (www.tradingpsychologyedge.com) Big Mike Trading Reviews and Vendors 4 December 17th, 2014 10:33 AM
The Daily Trading Coach by Brett Steenbarger Big Mike Psychology and Money Management 29 October 3rd, 2012 05:39 AM
Your Trading Coach panama Trading Reviews and Vendors 3 July 7th, 2012 11:30 PM
Need a Programming coach for a project... Mojokix NinjaTrader Programming 3 January 20th, 2011 04:17 AM
Looking for a coach ealas Beginners and Introductions 12 October 1st, 2010 09:12 AM


All times are GMT -4. The time now is 07:02 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-11 in 0.20 seconds with 20 queries on phoenix via your IP 54.92.194.75