Part of building trading endurance is to consistently identify and act upon setups for the duration of my trading hours. I can take trades for at least 3 hours between 0200 and 0600 HST. The other hour will be used for review, reflection, and posting on futures.io (formerly BMT).
I don't have a trading method. For now, I just want to stay engaged and active bar by bar. To keep things simple, here are my rules:
If I'm not in a trade, and the bar closes, then enter in the direction of the bar.
If I'm in a trade, and the bar closes in the opposite direction, then I have to close and reverse.
Continue this process for 3 hours.
The entry rules are just to keep me engaged and present in the market. I don't want to have any other rules. There aren't any profit targets or stop losses. I'll be jumping out of a trade whenever I feel the movement is against that particular trade. The goal for the next 10 days is not any sort of profitability. In fact, I'll just reset the sim account at the end of each day.
One the one hand, I want to take notes on my observations. On the other hand, because I feel I'm in the phase when I don't even know what I don't know, I don't want to set an structured learning goal. So, I'm just going takes trades, have some fun with it, log some much needed seat time, and see what questions I start asking.
What a rough day. I was tired from the get go this morning @ 0100. I didn't work out. I didn't check in to futures.io (formerly BMT) properly; I was late by 15 minutes. Even though I was trading at the right time, I didn't follow the process. I did trade alright. But I was getting really winded by 0400, only two hours in.
I tried to take power nap from 0515-0545. That turned into a serious dream session until 0630. That made me rush when I started to get ready for work. So, I didn't shave properly and ran out while munching on a left over 6 inch sub from Subway. It's fiscal year time so I can't really dilly dally getting there. Also because it's that time of year, I spent the whole day manipulating spreadsheet after spreadsheet. Around 1430, I was hitting a brick wall. A procedure that took 10 min in the morning was taking 25-30 min in the afternoon. I just couldn't concentrate. I downed a Gatorade, got a second wind, and finished on an up tick.
Now I'm home, gonna munch on some dinner before I hit the sack. I'm back on schedule. Things should run smoother tomorrow. Today, I ate more balanced meals than I did over the weekend, and, tonight, I'm set up to get my usual amount of sleep.
So, not a magnificent start to endurance building. But, I'm still on track. I think if I didn't have this journal, I would have gotten more discouraged than I did and ended up changing my plan. +1 for futures.io (formerly BMT).
What a difference one's state of mind makes. I've understood the concept intellectually, but this is the first time I've documented it myself. Just getting enough sleep and eating better made me feel at least 50% more alert today than yesterday. I'm actually sitting here with smile on my face, instead of looking at my bed wishing for the session to end.
When i read your schedule, I thought ... not enough sleep.
I know I work too many hours, but I know why and I would rather not. If I can get my system simpler to maintain I will cut back and get more exercise and more sleep and more relaxation -balance. You have income so trading can be without pressure.
You're young and building habits - a healthy body and a relaxed mind could be two of them.
Since your simply trading up bar down bar perhaps pick something that trades at 5am or at 18:00 Hawaii time - trade for an hour and stop .
Just an idea - but life is a marathon - not a 100 yard dash. One day at a time my friend.