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self coach trading

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  #1 (permalink)
 alejo 
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I am starting this thread to write all the self coaching stuff that i am want to apply and i am discovering while i am journaling and while i am reading a couple of books, trading in the zone, the disciplined trader, the book recomended for bigmike the daily trading coach by brett steenbarger

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 alejo 
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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

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 alejo 
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i was reading tiz trading in the zone, and today i try to think in probabilities and think that te outcame of each trade is no t important, to try to calm down while i am taking the trade.
i remember to my self that.
if does not take importance the outcame then no reason to have fear
and if anything can happen... the i am waiting whatever...no problem, why fear..

watch waht happen openly and no matter what happen..

i continue tomorrow with same thougts

i am really in a critical point in my experiment on the journal thread, because the slipe down probably can stop, if stops it is the first time

i try not to think in that an execute the trades. and wait. and accept. will it work?

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  #5 (permalink)
yafed68
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Hi alejo,

Good stuff here.
Hope it will help you to get needed skills and discipline in trading.

Also not more important, I am still waiting for your answer by email regarding learning materials. Hope to get the links by tomorrow.
Good luck.

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 alejo 
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i have finish the book TIZ and there s i got:

the key are the believes, they are to be in line with the goals and everything flow
if i have the believe, then i can have the behavior
one condition is watch the market objetively
to do that:
think :1)theres unknow forces 2)each moment is unique (can look seems to a previous one)
then we expect neutral, with focus in now moment

warning: in the moment, when i assume that i know what will happen next , automatically i will swith rigth mode to be right, and i ll be waiting to be rigth and i lost!!

i need to be neutral, focus on the moment and expecting anything can happen

with this mindset, i avoid the mistakes, watch without mind filters that alter the now

then, trust in me, more selfttrust, i feel trust, i execute easily trades

with these experiencies start to build my new believes, and then with that believes , i will behave in the consistency winning mode

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 xelaar 
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Hey Alejo, good luck on your journey. Have you had a chance to read this book? Could be very helpful!

The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist (Wiley Trading): Brett N. Steenbarger: 9780470398562: Amazon.com: Books

Trade to live. Not live to trade.
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 alejo 
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extracting from tiz

1)I identify objectively my edge (the key is objectively ,see previous post)
2)I predefine the risk in each trade
3)I completely accept the risk and i am desire to let it run the trade
4)I am acting on my edge without hesitation
5)i pay myself when the market let the money available to me
6)I continuosly monitoring my susceptibility to making mistakes
7) I understand the absolute neccesity of these principles to be consistent winner, and never will violate them

all of them are in consonancy with the 5 trues to always keep in mind:

1)anything can happen

2)I do not need to know what will happen next to earn money
i believe i only need:
1 if the probability are in my favor before to enter the trade
2 how much it will cost me
3 i dont need to know what will be happen
4 can happen anything
(with this 4 things never the market can let me become wrong)

3) there is a random distribution between the winners and losers, for a set of variables (edge)
then the outcame of only a trade or string of trades does not matter, that it is important ,it is in long run

4)the Edge is not more than an indication that one thing happen with more probability than other

5)each moment is unique
i can not know what it will happen, based on the previous , also it looked similar

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 alejo 
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xelaar View Post
Hey Alejo, good luck on your journey. Have you had a chance to read this book? Could be very helpful!

The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist (Wiley Trading): Brett N. Steenbarger: 9780470398562: Amazon.com: Books

yes, i am reading it and i working on that, i am using this thread to help me in the journey

thanks

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 alejo 
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I am afraid :
1-to be wrong
2-to loss money
3-to lost a chance / oportunity
4-to let money on the table

the main mistakes are:

1-hesitation
2-jump as a crazy
3-Enter without measurable risk
4-move the stop loss to get a big loss
5-no take profits
6-exit soon from a winner
7-move sl to bve and get stop and mkt go to my favor
8-take a bigger risk with too many lots for my account

it is clear that with the fear my mind does not work well for trading, then i need to work to have a clear mind
and open for the market.

i try to reach the advice of tiz, do not expect nothing, do not care the outcame, can happen anything, take the money

to be continue

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 alejo 
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i understand now, the difficult that was to try to practice ans suppose to learn with a lot of fear, and anxiety, and revenge, and losing a lot of money, it was a nightmare
the las days that i doing the things calm, and i watching what i am doing , i am more relaxing, i am starting to feel good with my practice, and i am feeling that i am learning and i am for the right path, i am trust that i will get it
is this other illusion?

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 ratfink 
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alejo View Post
i understand now, the difficult that was to try to practice ans suppose to learn with a lot of fear, and anxiety, and revenge, and losing a lot of money, it was a nightmare
the las days that i doing the things calm, and i watching what i am doing , i am more relaxing, i am starting to feel good with my practice, and i am feeling that i am learning and i am for the right path, i am trust that i will get it
is this other illusion?

No illusion, its just a long, long journey for all of us.

Travel Well
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 alejo 
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i repeated yesterday, the job to keep the risk at-3, the target to +3
and focus
i have had a good execution, and i surprised myself, i try to focus with open mind on the market waiting anything
also to exit if it is not working
i was wondering if it a lucky winner strikes ?

today i start to try to find old problems of my life to realize, how can manage them to increase the self stem to avoid the unconscious errors

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 alejo 
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dear traderwoolf, and other trader with desire to coment, check, this thread or my journal, is very welcome

thanks for your time

alejo

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 alejo 
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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

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 jsengxx2 
Portugal, Viana do Castelo
 
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Posts: 343 since Sep 2011


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 think that with a 3 tick stop loss you are not giving the market enough room to work for you! That is too tight.

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 ratfink 
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alejo View Post
now i have fear of my overconfidence take over..warning

You will find out soon enough, have no fear!

Doesn't matter whether it is 3 or 30 or 300, if you can do it day in and day out then you are a trader.

Travel Well
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 Traderwolf 
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alejo View Post
i understand now, the difficult that was to try to practice ans suppose to learn with a lot of fear, and anxiety, and revenge, and losing a lot of money, it was a nightmare
the las days that i doing the things calm, and i watching what i am doing , i am more relaxing, i am starting to feel good with my practice, and i am feeling that i am learning and i am for the right path, i am trust that i will get it
is this other illusion?

Stay the path...

1. Develop an edge that fits your persona and trading style.
2. Develop a trading plan around that edge.
3. Trade that plan every day and journal results.
4. Look for continuous improvement opportunities each day on yourself and your plan and journal them.
5. Make improvements over time based on journal continuous improvement opportunities.

When you can take a small account in SIM(say $5000) and double it in less than a month by risking no more than 2% per trade.. you will be ready to trade live and many of your psychology problems will be gone.. Psychology problems generally come from a lack of confidence in oneself. This can come from a lack of confidence in one's method . The best way to change this is to practice your plan each day until you are confident in it and yourself.. You will become confident in it when it works.. so improving it objectively over time is important. This can take a long time... months or years.. so buckle up...


BTW, be brutually honest in your journal. Your ego has a way of protecting you and your self esteem and will lead you to lie about your results and your plan.. making them look better than they really are.. If your plan sux, it sux. If you cannot control yourself, you cannot control yourself. Be honest about it and understand why there are deficiencies and fix them or you will not succeed.. Your ego has done a good job of protecting your self esteem in the rest of your life, but it will destroy your trading.. Something you need to recognize..

Happy Trading,

Wolf

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 alejo 
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if i trade 20 rt the tradestation soft if free, then i was planning to take this live test,
only with thinking in that my heart is going up.bumbum
i was working on weekend , on mind exercises, with visualization exercises, first relax, second recreate the scene that i want, i this case, i am trading perfectly
and thinking to relax to relieve the fear, greed, and think in the no importance of 1 trade

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 alejo 
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at the begining i feel nervous and with anxiety, and also i was hesitating , overthinking, i could not manage the fear, i can not center my mind in it is not a problem what happen with this trade, because, yes, i will lost the money and my exercise to try to earn the chart fees , doing 20 rt, for what?
i start losing 2 oportunities because my hesitation, then i realize that i need to focus, i start with losing trades as you can check on my journal, also , on the sim acount on s5, it hapen the same, i satrt losng, my fear affect to me on both accounts, also i took my risk on the sim.
little by little i start to feel better and focus my mind on the market and forget about teh result
was hard, and finlly i took 11 trades for +$4
that is under the sim result , but i made errors, exit soon, lost chances,
but one thing taht add to my worried hea was the difference how i was filled on the live than a sim account
terrible difference, i have not taken in account, because with 3 tick move, 1 tick it is a lot, and for example, 1 trade tocuch the target +3 in sim get filled, winner, the live account, touch the target , not get filled and come back...
on the sim i got +11tick
there s a several scracth trades that i could done it because the easy way of sim, but i do not think i can repeat it on the live account
thenthat thougts, start to eatme the head, and i am not in good feeling to trade.
one posibility is to target to +2, but that alters all the process.
then...if continue with sim, it is irreal, if it goes live to test.. i take a risk to los the money to learn
wtf
also the s5 /jugswa/oec dom was very different with nt7/jigsaw/zenfire , then add more variable to hesitate
i need to solve this...

i think i will continue, with my 9 trades that i need to accomplish with the minimum trades with trades station
and also, i have realize that in the sim , the cost per rt contrats is 2.6 and the live is 3.56, that alter the result , in the scalping, results i need >1000 to get 2.46
20per day 400 month 3 lots
i need time to get there i think
at the end of the day , i was more relax with my live test
but , i trade more hours than normal, my plan was to trade from 8.20 to 1130 et
i need to stop after that, because, i got exhausted, so tired, my eyes, my body.. not good

i need to focus again in the execution and forget the result, also i can fail the live test

one good thing was that i start with losing trades, but continue with my plan , trust in that, and finally get the result

because if doubt take over, bad thing, (but i have doubt..)

when i see the eq curve of yesterday was good the recover, accomplish almost with plan, and no go dip on the hole try to recover as a crazy

another thing that happened was i exit, but after that the target was hitted, then if i would waited, iit could be ok

one thing about the filled live, i use to enter in one way , puting the order i wait the mkt come to me, but in thios way i lost several cahn¡ces to get in: chase o left? think in thta, chase is bad, left go also...

then:
focus and concentration to wait and execute the trades
dont expect nothing, anything can happen
pre attention to the difference of filled in live it is more hard to scrath and enter

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 alejo 
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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
revenge
crazy
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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  #22 (permalink)
 xelaar 
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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 alejo 
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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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 alejo 
madrid spain
 
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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

refocus
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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 alejo 
madrid spain
 
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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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 alejo 
madrid spain
 
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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
AMG600
X6
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
helicopter
plane
philipines island
boat

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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 alejo 
madrid spain
 
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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
fantastic
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
fantastic
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

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 ratfink 
Birmingham UK
 
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Well done, there is no hurry - ever.

Travel Well
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 alejo 
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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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 alejo 
madrid spain
 
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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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 alejo 
madrid spain
 
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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


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

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 alextrd 
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@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.
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 alejo 
madrid spain
 
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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!!

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 alejo 
madrid spain
 
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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!

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 alejo 
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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

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 alejo 
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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

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 alejo 
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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

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 alejo 
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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
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 alejo 
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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
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 alejo 
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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
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 xelaar 
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alejo View Post
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

Good work. Let me know how yourexperience with AMP goes. I have closed my account with them yesterday. The have no support. I waited 3 weeks for a respond to platform config request and got none. I emailed and filled online support ticket and got no reply weeks after. Finally I filled withdrawal request. You guessed it the did not reply to me anyhow but surprise they sent the money same day and I got it today, from US. unbelievable. Strange company. Great technology with CQG but tgere is no tech support. At all. Moving to Mirus.

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 alejo 
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xelaar View Post
Good work. Let me know how yourexperience with AMP goes. I have closed my account with them yesterday. The have no support. I waited 3 weeks for a respond to platform config request and got none. I emailed and filled online support ticket and got no reply weeks after. Finally I filled withdrawal request. You guessed it the did not reply to me anyhow but surprise they sent the money same day and I got it today, from US. unbelievable. Strange company. Great technology with CQG but tgere is no tech support. At all. Moving to Mirus.

ok, i will tell what happen.

What do you think about the IDT from topstep?

thanks

alejo

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 alejo 
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it is incredible the problems i have on the live execution
i want to start the live test with the 3lotstrategy, and then i try to make sometrades to reach the enough margin money to get 3 lot, and start with 2 lot doing everything but not my plan.
the first issue was to pull the stop
the second to let loser get big
the third is i hesitate and i don t exit as quick i was practicing, and on top of that the exit not filled, and a lot of hard stop
the fourth, was i get nervous as i do not get filled as i used to in sim
five i let it convert a scalp trade in a swing trade
the first 2 days was good, but you know, it s only 1 bad trade , and you get kickoff
in the sim, never move the stop with th 3 tick loss and it was sucesfull
this platform transact, i trade most in the past with it, but ,i want to make the test on TS tradestation, to trust in do exactly the same of sim test,also the reports, to compare the gap that i will add on the execution
i am fluctuating between , i got it ! an frustration
also the scalping , it seems very difficult to be succesfull with that, and i was wondering if the first startegy (fade the range, coud be better)
anyway,the key it is me, and i will try it .
if the fills are impossible, then i will move to trade the range, but i do not want have doubt about something that could work
today, i almost don have money to trade, only i can accpet a DD of 6 ticks, and i made 2 big mistakes, withou consecuences because i was lucky, but it is not possible to repeat that.
pull stop, let it big loser, double down,...
it is very difficult to trade with 80$
then i will fund full margin 3 lot, let it:
DD limit 1500, daily limit loss 450 goal 3000 (the result in sim are much better to resist this limits)
and work only in me , with the gaps with sim
i trust in the 3lot strategy, and in TS, i need to check the live fills,
if i trust in the strategy, i have learned the MUST "exit quick"
i have feeled the calm to get the goal every day, not outliers, no dd, no losing days
i believe in repeat it
but i know how easily the things go south
this days i was frustrated for the test live with infinity, but i want to overcome this step, i need to overcome
the main issue it looks with to be right, pattern to work on
meanwhile remember the key

1-Stadistic work for me!
2-anything can happen!
3-not problem with 1 trade result

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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 xelaar 
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ok, i will tell what happen.

What do you think about the IDT from topstep?

thanks

alejo

I hear a lot of good things about it but never taken it myself. I am in CTD though.

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 Daytrader999 
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alejo View Post
What do you think about the IDT from topstep?

thanks

alejo

I went through the IDT training course a couple of months ago and it really was an outstanding experience.

Ray's course is quite interactive with some additional homework to do, really no just 'sit back and relax' program to listen to, and it gave me a lot of personal insights and a better understanding of how to build an appropriate mindset, not only in regards to trading.

I already gave a short review of the IDT course in another thread, but I just can't find it right now...

But bottom line, from my personal view I truly can recommend taking the course.
As far as I know, actually there should be a discount available since TST is promoting the IDT course at the moment...

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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 xelaar 
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Yeah I have got the email giving it for 250 comparing to regular 495

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 alejo 
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I hear a lot of good things about it but never taken it myself. I am in CTD though.

whats cdt?

i am planning to take it for 250 the idt

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 alejo 
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again , i made today the same thing, instead of take the 6 tick loss, i pull the stop, and finish with 20 tick loss
what is happen?
i do not like be wrong, i started with+6, and that was the goal, in stead of stop, the overconfidence push me to continue trading, or what else?
this days of test, live i see the key problem to execute, me.
i need to work on the pattern to want to be right, i am enroll onthe IDT training course on next monday and tuesday, to work on me, i need to training myself , mi mind to trade, if not, i am in a losing position.
i realize what was happen last year.
Now, i have the doubt about my 3lot strategy, about the execution, and the fills, because now i am sure that will be different.
and my test in sim not considerer wait for my turn in thye line for the limit order on the exchanges (and also tradestation told me that they hold on their servers, and have an algo that choose wat orders go ...?)
also my main problem is not that, my main problem is i want to avoid that pattern of i want to be right, then i pull the stop .
i need to execute the strategy as i have done in sim, that is my goal.
not move stops
take the loses quickly
daily goal +9, max trades per day,10,(ideal 5), max losing trades per day 5, max losing tardes in a row,3, max DD -100tick/$1562, max loosing days in a week,3, max daily lose -27, max risk per trade-9(-145),goal,$3000
trade between 820 til1030 stop, reach goal stop(day+9, week+45,month+180
if i get that , perfect.
after that we see what happen whit the gap between the fills in sim and live.
if will not work, i need to test another thing (for example my start fading the range)

but if i do not accomplish my execution, then...it will be the same whatever strategy,
i am seriously thinking in stop to trying to become a trader
also i need to recognize the type of days to avoid the days that i am not suit with.
(i let my self go for more tick when a big move is detected to try to catch some outlier, trailing it)
holding a losing trades a lot of time, is very bad for my positive thinking, for my focus, for my life, for everything, i know these consequences, are very bad for me , and i want to do whatever to avoid them.
that is my next goal

La lucha es de igual a igual contra uno mismo
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 RichardHK 
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alejo View Post
again , i made today the same thing, instead of take the 6 tick loss, i pull the stop, and finish with 20 tick loss what is happen?
i do not like be wrong, i started with+6, and that was the goal, in stead of stop, the overconfidence push me to continue trading, or what else?
this days of test, live i see the key problem to execute, me. ... ...

Who is that 'I' and 'Me' you are talking about? Yes, 'me' is the problem so stick with sim trading a little longer and finish (and apply) that Brett Steenbarger book you referred to earlier. I assume Brett talks about the multi-personalities inside us all, as he did in earlier book 'Psychology of Trading'. That is your problem - as it is mine and most other human beings too. Develop your internal observer and do not trade live without 'him/her'.

Hang in there. Just stop live trades until you are very consistent on sim (and have your observer working to protect you). No point giving your money to other traders so soon! Be wise. Good luck.

Richard
Hong Kong
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 alejo 
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suddenly i have a lot of doubts about the strategies i was testing in sim.
just the days previous to going live test.
i was very well surprissed about my results but i start to have some thougts: a lot of traders are given me a warning and an advice about the difficult to try to scalp
on top of that, i have the issue with how the orders will fills, also i disected the info i collect with my tests , and i have several possibilities to test.
i feel like in a tunnel , going deep and get more dark
very contrasting with the happiness of getting my goals on the sim test last week
i am also trying to understand and applying the probabilistic analyis to my strategies
i join today and tomorrow the IDT course from topstep, to help me with the mind process.
then ,instead of testing live, i start a slipage test with 3 lot strategy, adding +1tick to the targets to check ,if with that , it remains profitable.
But today i execute the trades very bad, it was my first losing day on the test, also i made 4 losing in a row (limit 3)
i am feeling very lost, i need to re focus.
there s a universe out there to learn, to read, is like walk on a desert and i need to decide where is the way, or stay in a big tunnel and you need to decide which side to walk to get the exit, maybe you are closer to one end, but you walk for the other end.
my goals:
train my mind
get focus
test the strategy

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 alejo 
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maybe the problem i was having is accept that the 3lot strategy did not work, and I have a lot of good feeling about that, and that was my first strategy that i apply well, and the first that let me earn money, i had an idea, I got it!
but so what?
after reading kevingdog saying the amount of strategy that test and a little amount are sucesfull, i realize that , i need to continue to building my handycraft, i did not discard the scalping yet, but i think the smaller the TF, the higher the emotions, then more difficult scalping than position Trading?

Yesterday i finish the IDT 2days/50%price course.
i will post about the IDT on the vendor review, but i imagine something about to improve the intuitive skills, but not, a lot of things about what i need to do/to be to sucess, but the key is how, and here is not the answer.
conclusion, 1)filter info 2)fullpower you 3)be accountable 4)like if you go to the church, or your mam talk to you ,you need to be a good person, humility, compassion, courage,integrity and respectfully , first that ,the basement
if not have that, nothing works on top of that.

as douglas, brett, big traders say, unconcious drive everything

futures.io (formerly BMT) is by far a better resource, but ,everything adds, "the knowledge not fills any room"or "one can never know too much"(a says in spanish, el saber no ocupa lugar)

today i continue with the test of 3lot strat with target+1
the good news is i stop after 3 losers in a row
very good
the bad i was full stop out in 2 , i could n close it before, in front of the train
i need to work on try to recognize this, and avoid it
i am studying the sharky post, and i am very motivated because he says he made 50k a day, and he scalp zn, uauu
nice to learn that path

today i place some lives trades, to check my emotions, and i could close the losers quicky, and also let it run the winners, i stay almost 2 hours in a winner waiting for a break, (finally it did not occured), i letted go back and forth, testing my fear, and the climatic feelings up and down.
is different watching the market with a position on, or off
it was difficult because my max dd $60, is so little

while i am trying the sim 3lot+1t, i am planning to make a couple of swing trades lives to test another TF.
i think is more relax to do that, and trade on 60minchart/daily, i made tradeswing #1.
i will see if i can hold without watching each hour, and if i can hold it to reach stop or target

also i am planning to take another training with nbsdt to continue improving to reading the tape
a am reading the mind over market, thanks @Fat Tails and i try to understand the day tapes, openning, and so.

goal for today:
continue test TS 3l strst+1t
but not counter trend, only fades in trend direction

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The fight is fair against oneself
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 alejo 
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maybe the problem i was having is accept that the 3lot strategy did not work, and I have a lot of good feeling about that, and that was my first strategy that i apply well, and the first that let me earn money, i had an idea, I got it!
but so what?
after reading kevingdog saying the amount of strategy that test and a little amount are sucesfull, i realize that , i need to continue to building my handycraft, i did not discard the scalping yet, but i think the smaller the TF, the higher the emotions, then more difficult scalping than position Trading?

Yesterday i finish the IDT 2days/50%price course.
i will post about the IDT on the vendor review, but i imagine something about to improve the intuitive skills, but not, a lot of things about what i need to do/to be to sucess, but the key is how, and here is not the answer.
conclusion, 1)filter info 2)fullpower you 3)be accountable 4)like if you go to the church, or your mam talk to you ,you need to be a good person, humility, compassion, courage,integrity and respectfully , first that ,the basement
if not have that, nothing works on top of that.

as douglas, brett, big traders say, unconcious drive everything

futures.io (formerly BMT) is by far a better resource, but ,everything adds, "the knowledge not fills any room"or "one can never know too much"(a says in spanish, el saber no ocupa lugar)

today i continue with the test of 3lot strat with target+1
the good news is i stop after 3 losers in a row
very good
the bad i was full stop out in 2 , i could n close it before, in front of the train
i need to work on try to recognize this, and avoid it
i am studying the sharky post, and i am very motivated because he says he made 50k a day, and he scalp zn, uauu
nice to learn that path

today i place some lives trades, to check my emotions, and i could close the losers quicky, and also let it run the winners, i stay almost 2 hours in a winner waiting for a break, (finally it did not occured), i letted go back and forth, testing my fear, and the climatic feelings up and down.
is different watching the market with a position on, or off
it was difficult because my max dd $60, is so little

while i am trying the sim 3lot+1t, i am planning to make a couple of swing trades lives to test another TF.
i think is more relax to do that, and trade on 60minchart/daily, i made tradeswing #1.
i will see if i can hold without watching each hour, and if i can hold it to reach stop or target

also i am planning to take another training with nbsdt to continue improving to reading the tape
a am reading the mind over market, thanks @Fat Tails and i try to understand the day tapes, openning, and so.

goal for today:
continue test TS 3l strst+1t
but not counter trend, only fades in trend direction


when the trend has changed, i took 2 trades against them
of course i did not at that time, but , could i know it?
the good thing, im close it for -1
but was in sim

the very bad thing, i will talk in the next post, i could not stop to move stop in live

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The fight is fair against oneself
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 alejo 
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I think i have enough feedback to extract this conclusion, yesterday it looked like i can take little losses, but today i was so consistent with that activity, also in the swing trade, and also in several post from my journal, and a lot of more in the pre futures.io (formerly BMT) live.
i need to overcome this issue yes or yes.
how can i will do.? i do not know yet
it is clear that after 3 month of sim trades, i learn to do it in sim, at the start of sim i made the same error, but later i use and i do not move the stops, in 99%, i know that i need to use them in 100%
but the real problem is live
there is not the 1% times i do not use stops.
not
if i use mental stop, i do not respect them
if i use brackets stops, i do not respect them
i could not use any strategy, because i do not accepts that little losses, oh no! i am wrong! what the other traders, think!, absolutly crap, but what others traders think when i take big losses? is not worse?
i know that i need to take the little losses, it is not enough
i know that it need to be little losetes, it is not enough
i know that i have a lot of pressure if i only have 60$ max DD account, yes, i can fix that, i have others account with more money
yesterday i have 237$ max DD in the inf acount, and $600 max daily loss block set
but why i can let pass the 230?
i did not want to touch the daily hard limit and they loccked in my face the dom (i suffered a lot of time that)
but i was staired at the screen , hoping, waiting?
how can be possible?
maybe if i not trust in my strategy, then i can not execute well, but, if i do not take the 3 tick loss, the strategy will works better?
not
then ,why not take the little losses, and wait , as i do in sim?
i do not know
i know that is something unconcious, i need to learn to simply take it
it is easy to say
in sim is absolutly a losing time
risking 1$ per tick is absolutly losing time, i was practicing micro6e and 6e
but i am focus on zn, that is less risky(low volatility) than 6e
and $45 /3 tick is ok for 10k or 5k account
but is to lose 45 the problem?
how can accept 530 lose?, maybe because the mkt close at 5et, if not i can stair at the screen 96hs?
and i lost family, life, ...
does not make sense
when i am out of market i have the mind clear
when i am in the mkt IQ going down

then it is much better close and wait
what thing give me more pain than a big lose?accept that i can not make it?accept i am wrong
wrong is not take the little loss, but it is not enough to know that
i need a punishment (maybe not trade for a month?, wire money to somebody?, cut my b...?)

goal:
1)find a punishment and try to avoid it with the right behavior
2)re read the bret stenb... and find what chapter could apply to my case
3)practice in live the 3lot strategy, but with 1 lot and 3target, and take the losses, the goal if take the loses, not find out if the strategy work, also i try to choose the higher probabilitic entries, fade ranges, not counter trends, break out ranges)
4)remember that this exercise is to learn that take the little losses is good for me, ..let it get big losses is bad for me)
5)if i do not take the 3tick stop loss, only one time, stop trading for 1 month
i want to give my word to all futures.io (formerly BMT) communty, if i do not accomplish that , please remember me with a big shout

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The fight is fair against oneself
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 alejo 
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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

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 alejo 
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Today is friday 6dic13, and i have just close the dom.s .
i am feeling so bad for several things, first, the frustration to realize that i have consistentently bad result, frustrated by reach and also surpass the limit, several limits,daily loses, max DD, i am writing the journal, today, after several days, then i did not my daily job also.
i am feeling bads things with my trading activity, it is interfering with my others interest.
I need to stop.
I am doubting about almost I am doing.
I start with 3tick stop loss test, and was right, i took the loses, but after loss several times in a row , i need highers winners.
I start testing to increase targets, but was live, and i let it run thye winners, too much, then , i let them most of them become losers.
I let several trades open for the other day
Also i made 2 mistakes with the news, i tried to pick one selloff and I got a big slippage
The stop test it was distorting, and the loses increasing,
I need to refocus, re read the journal (i did not do yet)
Find and test a strategy in sim first
evidently i do not have one, or i did not realize about that
i am losing my confidence, and i feel i lose my path
can i say the stop loss test was, ok, maybe
i took several of them, i did not move the stop
but i increase the stop size in the entry in some swing trades, and with my last trade trying to catch the news, i entry with large slipagge without stop (in this case, i do not have time to place the stop manually so far)
then i stop trading for 1 month,

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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 xelaar 
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alejo View Post
Today is friday 6dic13, and i have just close the dom.s .
i am feeling so bad for several things, first, the frustration to realize that i have consistentently bad result, frustrated by reach and also surpass the limit, several limits,daily loses, max DD, i am writing the journal, today, after several days, then i did not my daily job also.
i am feeling bads things with my trading activity, it is interfering with my others interest.
I need to stop.
I am doubting about almost I am doing.
I start with 3tick stop loss test, and was right, i took the loses, but after loss several times in a row , i need highers winners.
I start testing to increase targets, but was live, and i let it run thye winners, too much, then , i let them most of them become losers.
I let several trades open for the other day
Also i made 2 mistakes with the news, i tried to pick one selloff and I got a big slippage
The stop test it was distorting, and the loses increasing,
I need to refocus, re read the journal (i did not do yet)
Find and test a strategy in sim first
evidently i do not have one, or i did not realize about that
i am losing my confidence, and i feel i lose my path
can i say the stop loss test was, ok, maybe
i took several of them, i did not move the stop
but i increase the stop size in the entry in some swing trades, and with my last trade trying to catch the news, i entry with large slipagge without stop (in this case, i do not have time to place the stop manually so far)
then i stop trading for 1 month,

Could I suggest to look for a less intense approach with less trades and higher rewards?

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ofatrader
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alejo View Post
Today is friday 6dic13, and i have just close the dom.s .
i am feeling so bad for several things, first, the frustration to realize that i have consistentently bad result, frustrated by reach and also surpass the limit, several limits,daily loses, max DD, i am writing the journal, today, after several days, then i did not my daily job also.
i am feeling bads things with my trading activity, it is interfering with my others interest.
I need to stop.
I am doubting about almost I am doing.
I start with 3tick stop loss test, and was right, i took the loses, but after loss several times in a row , i need highers winners.
I start testing to increase targets, but was live, and i let it run thye winners, too much, then , i let them most of them become losers.
I let several trades open for the other day
Also i made 2 mistakes with the news, i tried to pick one selloff and I got a big slippage
The stop test it was distorting, and the loses increasing,
I need to refocus, re read the journal (i did not do yet)
Find and test a strategy in sim first
evidently i do not have one, or i did not realize about that
i am losing my confidence, and i feel i lose my path
can i say the stop loss test was, ok, maybe
i took several of them, i did not move the stop
but i increase the stop size in the entry in some swing trades, and with my last trade trying to catch the news, i entry with large slipagge without stop (in this case, i do not have time to place the stop manually so far)
then i stop trading for 1 month,

Hi alejo,
I'm new here in the forum, but not trading. Reading this post and if you let me, i want to give you a suggestion based on my experience. One part than most traders don't try to develop enough is stop location. Seems that in your post you are in that way. Most traders are focused on entry points and exits, but no most try to locate first the stop. I don't know if this is your process when you enter at the market, but i recommended,
1 stop
2 entry point
3 target
This sequence is the best you can use, because finally your stop is where you lose money, and the most important aspect in every trade you want to take. Seems that you are using a little stop, 3 tics and finally this is the end of every trader, risk less than you can, but for using this kind of stop you need to have a good location in your stop if not you are lost.
And the milion dollar question: where i need to put my stop for to be safer?
No easy answer, but basically try to find areas where someone can protect your stop, because you can't protect your money in the market. This is the reason why you need to find areas that some other trader with big money have some interest and will fight in this area for protect him and in the same way you can have some protection or "safe" area in your stop.
Take that like a suggestion because that help me myself to trade better.
Regards

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 alejo 
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xelaar View Post
Could I suggest to look for a less intense approach with less trades and higher rewards?

good advice!of course, thank you very much!
i am fighting between scalping / and looking for high R/R
according of the most people it is very difficult to scalp
i try to find an entry in a point to let profit run, but i couldn take it
also i have 2 accidents very painfully with news/slipage/opentrade
i do not know what to do, and how to do it.

thanks you very much for your time and your help

alejo

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 RichardHK 
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Albert Einstein
Insanity: doing the same thing over and over again and expecting different results.

Do something different! You seem to be driven to trade live when you are not yet consistent. Trade on sim until you have a system that works, only then tackle live trades with their psychological add-ons.

Don't give up, but also don't keep giving your money away. The market is not a charity.

Good luck.

Richard
Hong Kong
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 alejo 
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RichardHK View Post
Do something different! You seem to be driven to trade live when you are not yet consistent. Trade on sim until you have a system that works, only then tackle live trades with their psychological add-ons.

Don't give up, but also don't keep giving your money away. The market is not a charity.

Good luck.

you are right, i was trying to test my self respecting the stop loss and accept them, because i noticed that in sim i let it but in live was different

but i do not have a system yet, then i go again to live to try to handcraft one
thanks

alejo

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 xelaar 
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alejo View Post
you are right, i was trying to test my self respecting the stop loss and accept them, because i noticed that in sim i let it but in live was different

but i do not have a system yet, then i go again to live to try to handcraft one
thanks

alejo

Look for the "CL trades" thread from Vince Virgill. There are few guys trading his system live on forum and publishing their results daily. Nothing too complicated and no really suffering of go-live phenomenons like slippage. Fixed stop loss, so no reason to move it.



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 alejo 
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xelaar View Post
Look for the "CL trades" thread from Vince Virgill. There are few guys trading his system live on forum and publishing their results daily. Nothing too complicated and no really suffering of go-live phenomenons like slippage. Fixed stop loss, so no reason to move it.



thank you for your idea, i was reading that thread a couple of months, it is very interesting.
i have trade cl in my horror months, and i use to love that
but really, i am not prepared for its volatility and speed

now i am focus on zn, it gives me more time to think, and its less risky for volatility reasons

also ,i think ,if i find a strategy that works for me with zn, i can increase size

i am almost completely lost, if you have some suggestions that you considerer could help me to trade zn, to know where i am stand up, perfect!

i am using js dom to try to read and trade with that,

thanks

alejo

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 RichardHK 
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alejo View Post
... ... i am almost completely lost, if you have some suggestions that you considerer could help me to trade zn, to know where i am stand up, perfect!
i am using js dom to try to read and trade with that,
thanks alejo

Are you trading JS Dom only? Then John Grady's No BS ebook is helpful. But really, I would hope you are using a chart for finding your entries, and then the JS Dom for confirming same.

Here's a FREE Trading Course that may help. It's from Adam Grimes who covers trading and psychology. Based on price action which you can also learn from Al Brooks or Mack. See the PATS trading journals here for more.

Don't go live trying to perfect a system. That's what SIM is for.

Richard
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 xelaar 
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alejo View Post
thank you for your idea, i was reading that thread a couple of months, it is very interesting.
i have trade cl in my horror months, and i use to love that
but really, i am not prepared for its volatility and speed

now i am focus on zn, it gives me more time to think, and its less risky for volatility reasons

also ,i think ,if i find a strategy that works for me with zn, i can increase size

i am almost completely lost, if you have some suggestions that you considerer could help me to trade zn, to know where i am stand up, perfect!

i am using js dom to try to read and trade with that,

thanks

alejo

Sorry man, I am a total stranger to bonds, I trade dax, cl and gc.

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 alejo 
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RichardHK View Post
Are you trading JS Dom only? Then John Grady's No BS ebook is helpful. But really, I would hope you are using a chart for finding your entries, and then the JS Dom for confirming same.

Here's a FREE Trading Course that may help. It's from Adam Grimes who covers trading and psychology. Based on price action which you can also learn from Al Brooks or Mack. See the PATS trading journals here for more.

Don't go live trying to perfect a system. That's what SIM is for.

thank you so much

yes, i use several charts and mp to try to find the S/R,

I take note from your indications, now i am reading mind over markets, i have read wyckof, weiss, also i have take the training fom john g.

thanks

alejo

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 alejo 
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xelaar View Post
Sorry man, I am a total stranger to bonds, I trade dax, cl and gc.

fantastic you can ride them!congratulations!

i use to try to trade fdax,gc,cl...and lost a lot
i have got atracted for the speed to create ....or destroy money

and they have in common with zn that all moves....
but at diferent paces

maybe sometime i can trade those from a different perspective

thanks for your feedback


alejo

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 alejo 
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last week i have finished an stage, i close the test to try scalping 1 and 2 tick and this week start to trying the scalping strategy with 5 stop loss and minimum 4 target in sim, and i try 100 samples and check the results.
It was good i took 4/5 days to cooling the heat i have with the live testing, of not move the stops.
I was feeling bad about that experiencies, instead of increasing the confident, that destroyed it.
I need to refocus on the track, I continue my practice on zn, I will continue to hand crafting the strategy, I have a lot of doubts, I realize the lot of of things than i need to know but in the other hand ,also i know that the problem is not the amount of knowledge, maybe the opposite is true.
The other day i went to close a sale with a client , and i saw he was checking some charts of forex, and he say he started to practicing 3 month ago, sim, no fear, he convert 10k in 90k, high confidence, and what true it is, at first we do not realize that we have the closest mindset necesary to become a sucessfull trader.
He show me two simple graph, w and 4 hs(1 monitor), and how ,he decide his entries, trend w, trend 4h,use stops, target>stops
that is.
simple.
I recomend him, to journal, and practice only that,and choose 1 instrument (he is practicing with 12)
we will see what happen when he start to trade live, and receive a big smack down...

When i try to learn MP, dom, etc, i feel strange, is that necesary?
Or the problem is to forget the big smackdown that i have received?
forget is not possible
live with that, maybe
trade with that...
we ll see
first i practice this strategy to see if i can be profitable with that.
must i watch more webinars? read more books?

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 alejo 
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today i wake up with this new label, that s nice, but i not deserve that, i am only a begineer struggling as a crazy.
that is 5% members points levels,ok, it looks to big the label
It is motivating for my future, maybe, some times, become market wizard...
each day i feel the way is longer.
i was wonder how overcome the amount of info and material that look interesting out there, boks, webinars, etc.
and the limited time that one have it
maybe i have too much platforms , too much material to read, here in bmt theres a tons of interesting thing , to read, to watch, and i can lose my north
Also i have not re read my own thread, i think that is prioritary
Maybe i do not want to do it, ?
I have more than year of documented trades than never re read, i know that were horrible trades , i remember well
I am reading mind over market and theres a lot of ideas and things to learn and study and practice there
the same with wyckoff, yesterday another trader provide me more info, i am planning to join mext week a webinar for eurex.
Theres a lot of things to do
The question is , which one can help me in my path?
I receive a PM froma trader that suggest me to check a website, one more.NOOO!! please, no more
I say not and i not press the hyperlink.
I have the stage5 material,bmt ,books, tapereading videos, my journal,
the IDT says filter the info!
i would like to stop and say, with my knolwledge i have enough to create my handcraft
I need to learn how to realize if it fit or not my personality
I need to find and test at least 1 (i am here stage2)
as @Traderwolf says, maybe a couple of years in this stage...i hope not
but a couple of month ago, i talk with one trader that told me that after 6 years he is not get it, and continue be a member of a trading room...crazy (but he did not this path, journaling, find his own way)
i am starting to record the sessions, and maybe could be interesting to re watch the reversal, the priceaction, to learn. i need to find time to do that
i give me the task to re read my threads and extract the conclusions
the trade for today took more 3 hs to develop, i have the patience, to wait, that was good
i suggest, focus on your strategy test, on tape reading, on MP, try to simplify the platforms, find time to re read the threads. trading time 2 hs only, the rest study., focus
you need to find the strategy that work on sim for you with 1 lot
test you in live
try to work live with 1 lot
find your level of risk and trade it
good work
good luck

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  #69 (permalink)
Syed Hassan
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Hello Alejo:

I was going through your thread. I found that you had 3 ticks stop loss at the beginning of your trading journal. Did you got stopped very often? Which instrument did you trade initially?

Let me know please. This will help me learning.

Best,

SYED

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 alejo 
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Syed Hassan View Post
Hello Alejo:

I was going through your thread. I found that you had 3 ticks stop loss at the beginning of your trading journal. Did you got stopped very often? Which instrument did you trade initially?

Let me know please. This will help me learning.

Best,

SYED

well, i use to have 1 tick and 2 tick target, then i did not get stopped so much (i reach this conclusion after watching most trades only go 1 or 2 tick, and my plan was to capture that)but i use 3 lot for that strategy, i like it a lot

(the problem was when i try this live, it doesn not work because the live fills were different, almost 1 tick difference)

in the period of 24sept to 15 oct i went for big targets with 1 lot ,and there, i had have stopped a lot (now i am coming back to this period but with 5 tickstop

my idea was to close it imediatly if it goes bad, but i need some room to enter

ZN since i start the test in sept

thanks for your interest!

alejo

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 alejo 
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I think that with a 3 tick stop loss you are not giving the market enough room to work for you! That is too tight.

i ma re reading the journal, and yes, it was true, in live the 3 sl become in 2 inmediatly
now i am starting a new test with 5 sl
thanks
you were right, but i continue to testing my self...
alejo

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 Traderwolf 
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Alejo,

You are spending alot of time and energy looking at everything that is trading related. Although this will not hurt your overall knowledge of trading, it will not necessarily move you to trading sooner.. Afterall, the name of the game is to make money doing this; not to know as much as possible(I am so guilty of this).

Choose a method or framework you like that fits your persona.. Tune EVERY OTHER METHOD OUT. Work to make this method robust through testing , review, and simulation.. Once you can trade the edge consistently in SIM, you will be ready to go live. AT that time you will no doubt face some psychology issues that will demand your attention.

Best of luck to you.. Sometimes less is more and simple is better than complex..

Wolf

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ofatrader
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alejo View Post
i ma re reading the journal, and yes, it was true, in live the 3 sl become in 2 inmediatly
now i am starting a new test with 5 sl
thanks
you were right, but i continue to testing my self...
alejo

Hi alejo,
Another suggestion that can help you to find some consistent methodology is look at your risk and reward. Risk 5 tics for take 4 is a negative ratio, and you need to have a very big % of good trades. Ratios biggers than one are better, 1:2 or major than that is the best. If you are trying to scalp my recomendation is the same. I have been trading days with 7 trades, 5 losers and 2 winners and end the day positive. Risk and reward control.
Regards

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 alejo 
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Traderwolf View Post
Alejo,

You are spending alot of time and energy looking at everything that is trading related. Although this will not hurt your overall knowledge of trading, it will not necessarily move you to trading sooner.. Afterall, the name of the game is to make money doing this; not to know as much as possible(I am so guilty of this).

Choose a method or framework you like that fits your persona.. Tune EVERY OTHER METHOD OUT. Work to make this method robust through testing , review, and simulation.. Once you can trade the edge consistently in SIM, you will be ready to go live. AT that time you will no doubt face some psychology issues that will demand your attention.

Best of luck to you.. Sometimes less is more and simple is better than complex..

Wolf

thank you!!

alejo

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 alejo 
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Hi alejo,
Another suggestion that can help you to find some consistent methodology is look at your risk and reward. Risk 5 tics for take 4 is a negative ratio, and you need to have a very big % of good trades. Ratios biggers than one are better, 1:2 or major than that is the best. If you are trying to scalp my recomendation is the same. I have been trading days with 7 trades, 5 losers and 2 winners and end the day positive. Risk and reward control.
Regards

when i have 3 tick stop the w% was80%
now i am testing for 4 tick in sim that could be 3 in live
that is the minimum target, because i try to collect more than that if we have room and momentum

one question: why do not start journaling your advanced trader strategy?, i suppose is it live and could be very help full for all the members
and we can learn from your real experiencies ,how you manage the high risk reword, w%, entries, manage, etc
thanks
alejo

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Syed Hassan
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alejo View Post
well, i use to have 1 tick and 2 tick target, then i did not get stopped so much (i reach this conclusion after watching most trades only go 1 or 2 tick, and my plan was to capture that)but i use 3 lot for that strategy, i like it a lot

(the problem was when i try this live, it doesn not work because the live fills were different, almost 1 tick difference)

in the period of 24sept to 15 oct i went for big targets with 1 lot ,and there, i had have stopped a lot (now i am coming back to this period but with 5 tickstop

my idea was to close it imediatly if it goes bad, but i need some room to enter

ZN since i start the test in sept

thanks for your interest!

alejo

Hey Alejo:

Thanks a lot for the reply. It seems that it is working for you. I might give it a shot initially on the SIM aéc and then I will review the performance.

Thanks again,

SYED

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 jsengxx2 
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alejo View Post
i ma re reading the journal, and yes, it was true, in live the 3 sl become in 2 inmediatly
now i am starting a new test with 5 sl
thanks
you were right, but i continue to testing my self...
alejo

Hello Alejo,

I think you are on the wrong track. Right now you are focused on how to loss the less amount off money per trade!
This is called GREED in trading terms!
Must read: the daily trading coach, Brett Steenbarger and The Inner Voice Of Trading, Michael Martin.

I do not now how long you are trading but you have a long way to go.
First you have to have a trading plan
you have to have a system that you can trade, time frame, indicators (I´am not a fan of indicators!), etc..
Are you a swing trader, day trader, scalper etc...

Look for Al Brooks videos
Look for Vince Virgil
Look for Mack price action (or pat´s price action)
Look for Forexmentor.com on the internet (this is very good stuff for beginners)

I think price action is the most important stuff you have to learn. You have to be able to identify support and resistance levels in real time! And trust me, there is no indicator that will do it for you!
This sup/res levels are the best places to enter a trade!

The best market to trade for a beginner is the 6E. I love CL but it is not for a beginner so leave this alone for now.

If you are a day trader your stop loss will be anything between 10 and 20 ticks. Trust me 3-4-5 ticks is just not enough, you will get stopped out over and over again. Just focus yourself on 1 to 4 good setups per day.
Do not think that day trading is turning on the computer and doing 10-20-30 trades in one hour!

I can give you some stuff to work on if you can give me your skype name.

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 jsengxx2 
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Neil Fuller from Nial Fuller ~ Learn To Trade Forex | Price Action Trading Strategies is good stuff to!

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ofatrader
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Y no te me enfades, que al fin y al cabo aqui estamos todos para ayudarnos


alejo View Post
when i have 3 tick stop the w% was80%
now i am testing for 4 tick in sim that could be 3 in live
that is the minimum target, because i try to collect more than that if we have room and momentum

one question: why do not start journaling your advanced trader strategy?, i suppose is it live and could be very help full for all the members
and we can learn from your real experiencies ,how you manage the high risk reword, w%, entries, manage, etc
thanks
alejo


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 alejo 
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jsengxx2 View Post
Hello Alejo,

I think you are on the wrong track.

first of all thank you again for your time to read my jouirnal and post your thoughts!




Right now you are focused on how to loss the less amount off money per trade!

i think, maybe i am wrong, that when i increased the SL from 3 to 5 i am increase the amount i am risking per trade.



This is called GREED in trading terms!



Must read: the daily trading coach, Brett Steenbarger

i have read it and i am re reading it, very good, thanks

and The Inner Voice Of Trading, Michael Martin.

i am wirting down to my must list book

thank you again


I do not now how long you are trading but you have a long way to go.

i have started on 4/2012, and yes i am imaging the long way

First you have to have a trading plan

you can find it on my thread,



you have to have a system that you can trade,

also the same


time frame, indicators (I´am not a fan of indicators!), etc..

you can find it on my thread i am not using indi.


Are you a swing trader, day trader, scalper etc...

you can find on my thread, scalper


Look for Al Brooks videos

thanks i take note to do it

Look for Vince Virgil

i have done it


Look for Mack price action (or pat´s price action)

thanks again, i will do


Look for Forexmentor.com on the internet (this is very good stuff for beginners)

i do not want to check anymore material on the web from sellers



I think price action is the most important stuff you have to learn. You have to be able to identify support and resistance levels in real time! And trust me, there is no indicator that will do it for you!
This sup/res levels are the best places to enter a trade!


i agree totally, i am in that way

The best market to trade for a beginner is the 6E. I love CL but it is not for a beginner so leave this alone for now.

I am not sure, i trade zn

If you are a day trader your stop loss will be anything between 10 and 20 ticks.

i do not think so

Trust me 3-4-5 ticks is just not enough, you will get stopped out over and over again.

i am testing that

Just focus yourself on 1 to 4 good setups per day.

yes i agree

Do not think that day trading is turning on the computer and doing 10-20-30 trades in one hour!

max 5 per day


I can give you some stuff to work on if you can give me your skype name.

ok
thanks
alejo

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 alejo 
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alejo View Post
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


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


i an re reading the journal and realize i came back to step 21
21. We go back into the market and continue to donate.We go back into the market and continue to donate.
because i lost another $1200
better to said, i have invested in my education
it is resulting a little bit more expensive that i have considered
but after the graduating form the university and getting a job, one think to recovery the study cost and much more....

well done in re read the journal
i am surpriseabout myself with my behaviors and i will be more aware about my self, especially in focus, preparation, not move stop, patience, not trade more than 1 thing at time, trade max 5 per day, build selconfidence,

keep it working

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 alejo 
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RichardHK View Post
Do something different! You seem to be driven to trade live when you are not yet consistent. Trade on sim until you have a system that works, only then tackle live trades with their psychological add-ons.

Don't give up, but also don't keep giving your money away. The market is not a charity.

Good luck.

thank you richard, for your support and advices

alejo

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 alejo 
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when i was trading i was thinking that i am doing the things correctly, but when i revise the papers and the trades, i see what horrible execution i am doing,
totally un focus
the good thing was i stop after 3 losing trades in a row and we take the stops instead of moving them
i need to understand the difference between range and trend, and apply the entry to that scenary
i made the opposite today, break rules, chasing, buy tops and stop in front the train.
i need to apply the rules ,
re read them before trading
maybe take the eurex webinar in the morning and trade in the afternoon is too much

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 alejo 
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i continue watching eurex webinar in the morning, and in the evening i was writing hh,hl,ll,lh PA on the charts, as i use to do before, and drawing the supp and res lines, and try to trade from there, close it quick the losers, fade ranges only, and spend sometimes reviewing previous trades with the PA view, lh,hl, and i realize big mistakes i did, and then, i will continue this practices.
i was reviewing the journal and it was interesting the pattern go crazy live, and move stop live
evidently i am very very far away in the handycraft system
i was thinking to move to shares,etf to practice inexpensive way, but i would like to do as much possible in zn ,
goal for tomorrow
draw S/R, draw hh hl, respect the Fade range or entry pullback

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 alejo 
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i have finished the eurex web today, and have watch the thread of welly, jd, and others using mack method, and i try to apply the drawing of TL today
and continue with the draw of hh hl, (in nt i setup for me in a new chart)
now i setting the dom range in a more precise context from charts. i think could be helpful
i forgot the news 830, and some unknow event
remember next time!
i trade more than5 7, it is like i see trades...for anywhere

but i like the welly says, not looking trades..look place

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 alejo 
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what will happen if i do not take anymore counter maintrend trades? i need to wait more?
or i can t be able to catch in nice moves?
again i stay on the news , and i let it become a winner in a loser
i continue to draw TL S/R, but i went all day in a wrong side, fade and was continuation
fade pull back and was a reversal...
i was re viewing the records to try to get the subtle diferences: or bounce or B/o, i need to detect that difference
the zn look to b/o down, but i see suppor tl n 15range and D, and W, ut evidently is hard down, i dont know what to think? is it going to b/o or bounce the bigpicture?

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 alejo 
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today i was record the day to review ,specially theb/o or rejection in the dom,
i continue with the process to drawing live the TL, S/R, and it look like it is helping
i had a nice idea but not was filled, and good trades, losers and winners, but ,but
something really bad happen again
i boght the top123.27.0 , and when i realize that was wrong , by mistake i bought another lot instead of sold it
then +2 at top
instead of closed them, i holding a loser, let become a day trade in swing trade
why?
i did not want to accept to made a mistake, and close it
first i set up -2l to close at b/e, but later i think, imaging if it b/o123.28.0?iwith 2 lot, nice!
also i was thinking that this mistake is a problem for the statistic i am doing, but
finally i convert it in swing trade, i think we are in a down trend, then worst
the only possibilty is it look like it is bouncing...but anyway
the real problem is how can i avoid/stop to do this , because now the risk of stop loss is -20tickx2lot
equivalent to 8 trades for -5tick
the worst think is i broke my rule, and can mean to ruin myself
the 2 previous trades were +7 each, maybe i was a little overconfident.
i need to remember this, and repeat and now i am writing in my rules sheet
also i am realizing that was the 6th trade
but i have 5 max trades per day ....another one broke
i go to get some rest

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 bobwest 
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alejo, you're being very honest in your journal and in this thread.

I wish I had some instant, effective advice, but, of course, I don't. But I appreciate your effort and honesty, and hope you hang in there and solve it. Just to let you know that people are rooting for you.

Bob.

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-- Cervantes, Don Quixote
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 alejo 
madrid spain
 
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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

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #90 (permalink)
 alejo 
madrid spain
 
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i was trading on 30 based on charts only because the NT/zenfired does not work yet, then without jigsaw dom, and losing in all trades, and on the wrong side most of the time
on the end of he day i let an open trade with 2 lots for the 31, that was, to try to recover, and to try to pick a runner, i try to justify myself watching higher time frames, but i know was counter trend ,except if i catch the bottom ,
i use extra long stop loss
on 31 i check in the morning, and i see that was trading at entry price, fail break and down, that was the time to exit
i see LH LL, break the TL, but i continue with my bias to a supposed breaking strategy based on 60min first, i try to draw lines to justify i was right, i close it and i wait
i was decided to let it to touch the stop imaging a running for the upside for several days, and i was reading the elusive price action, not trade
At some moment, i want to trade with the S5 account with the scalping 4tick startegy and compare with this trade open buy and hold type
but , because it is not working NT/zenfire/jigsaw, and because i realized that could be a crazy behavior (more than the actual one)

the first red signal was an email from ts for margin call, and then i do no want to check it again
this morning, first opne the emails with the daily report, and then i saw the loser, after that went to check the platform, took the picture and write this

how easily i was slippeded out of the road , i think it is difficult to accept, i can not do it, and can not read it, and i am failing big my trials

i can not see where i am stand
the confusion take over, and i feel lost between, reading the dom, PA, scalp yes or not, keep the instrument, stop and rereading the journal (i am fail at this)
spend a lot of time at market and realized that does not help, reading the elusive price action and realize the infinity things that are out there, that i need to learn, or not? stop ?
day trading look more dificult than swing trading, then start or re start with swing trading? change of time frame (today experience was bad in that experiences)
i need to practice something in sim, but if you can not do it in cash, then...it is not useful
i am practicing cash, but i can not trade like sim, and lost more money ...
and that losing money is not teaching nothing, better i do not learn for my mistakes
how easy i feel totally different things, i can get it, and i can not get it
better a pause?
i will re read the journal
i try to found a way to not to decay

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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 alejo 
madrid spain
 
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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
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  #92 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
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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? Good luck on the journey.

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  #93 (permalink)
 alejo 
madrid spain
 
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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? Good luck on the journey.

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

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  #94 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
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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.

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  #95 (permalink)
 alejo 
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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

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  #96 (permalink)
 alejo 
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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

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 alejo 
madrid spain
 
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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)
 alejo 
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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

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The fight is fair against oneself
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  #99 (permalink)
 alejo 
madrid spain
 
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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)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Trading: DAX, Gold, Euro
 
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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.

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