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Catching Big Waves - a trader's journal of surfing the the markets
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Catching Big Waves - a trader's journal of surfing the the markets

  #2441 (permalink)
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I have scalped back $1000 tonight. Puts a weird perspective on things. Pure luck. Catching tiny moves, not understanding any of them, all short in an upward market. All had stops so tight they were silly.

The thought that I can make nearly what I lost, by not even trying, and to have lost today by working so hard to find the right trade...


I read about a trader who scalped bonds, made $1M a year supposedly, with a reward of 1 and a risk of 8. That comes to mind as I sit here, staring at an exact 1000.00 in green numbers. He went for the opposite end of the spectrum from what I do. Took tiny little moves, and dared to market not to hit him a 1 tick away. Try trading with a 1-tick stop loss...


Last edited by GaryD; May 23rd, 2012 at 11:12 PM.
 
  #2442 (permalink)
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My concern is that 2 hours ago you said you were "done" and not trading.

I'm not saying that is a good, or a bad rule, but it does seem like you are not following your own intentions or plan.

?

Mike

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  #2443 (permalink)
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Big Mike View Post
My concern is that 2 hours ago you said you were "done" and not trading.

I'm not saying that is a good, or a bad rule, but it does seem like you are not following your own intentions or plan.

?

Mike

Well, my max down ends at 6pm. This is tomorrow.

I did get up and walk away again after that 4 contract short. Just sitting here poking at it with 1 contract, more like a cat batting at a dead mouse than any real hunt. Digesting my first max down on 6 contracts. And some Dreaming Tree red wine. Reflecting, absorbing.

 
  #2444 (permalink)
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I am so used to watching dollars that it is just something I need to let wash around some. $1.2k on 6 contracts is noise, but it is 2+x my prior max down, and I am going over that concept with myself more than I am trading. The small trades are actually a part of the thought process. I am feeling being in a trade as I think.

 
  #2445 (permalink)
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OK. Glad you made back $1,000.

My only other concern.... LOL... is it is 9pm, and market is virtually dead, I am concerned you were trading very large size in order to realize that kind of return.

Just lookin' out for your brother.

Enjoy your evening. And I hope you have some plans with friends and family this weekend, it is a good weekend to spend with family. Family is what matters.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #2446 (permalink)
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Big Mike View Post
OK. Glad you made back $1,000.

My only other concern.... LOL... is it is 9pm, and market is virtually dead, I am concerned you were trading very large size in order to realize that kind of return.

Just lookin' out for your brother.

Enjoy your evening. And I hope you have some plans with friends and family this weekend, it is a good weekend to spend with family. Family is what matters.

Mike

I appreciate it Mike. I am not apathetic or sad or anything like that. Just trying to undertsnd myself a little deeper. The first trade at 4 contracts, yes that was just a bad attitude. And since I have laughed that off. I took a hot shower, grabbed a beer, wrote what I did wrong, working it off, and now just, being here with it.

Gotta go, see a great 70 contract short

(kidding)

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  #2447 (permalink)
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2 off already +17

 
  #2448 (permalink)
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  #2449 (permalink)
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On more off at +27.

 
  #2450 (permalink)
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I had a friend who had some anger issues. I told him, "Anger is energy".

I was not mad at the market, but I was upset with myself. There is energy there. I decided to relax and feel that tonight.


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