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Catching Big Waves - a trader's journal of surfing the the markets
It is the siren of someone who is trapped by fear and hopes I can hear them.
I have no rules for staying in a trade, only for getting out, getting in, when I can trade, etc. My beliefs that established those rules came from a desire to prevent loss more than accept gain, and that has my focus on what I do not want.
I am a better chart analyst today than I was last year, and my beliefs today are in conflict. I trade in the past, so to speak, and what binds me to that is fear and a belief in limitation. Even at a single contract, I cannot believe in a target that is beyond 40-50 ticks, even though I do believe in that limitation when I am flat.
Also, since my focus is on the negative, and I have nothing to force me to stay in a trade, as I add contracts the "feeling" part intensifies, and the targets get smaller and smaller. Nothing changes outside myself, but the greater the risk, the more it changes how I feel. I will never gain true comfort with "size" if operate from fear. I close too quickly. My rules today say I am allowed to close.
I believe if I allow myself to reinforce the validity of greater targets, it will help me all around. The focus shifts to what I want, not what I don't.
Can you help answer these questions from other members on NexusFi?
Meanwhile, crude has possibly been infected again by Iran, with recent missile testing, a threat to wipe Israel off the face of the earth, and talk of blocking the Strait of Hormuz.
There is a local and global double bottom in place, crude has been attempting to establish a new uptrend... There are a lot of possible areas from 88 down , but 80.50 - 81.50 is what I consider the strongest line of defense. North of that I would prefer to buy, but can't really decide where and have not really decided on a plan for tomorrow. Maybe the overnight action will make things more clear.
I only wanted to trade long today, but 81 is a long ways down there. I waited for support zone #1 to take, entered at the first break above the DT3 at the impulse DC, and waited. Went in with 2, exitted one at +20, tightened stop... made it to +50...
Then FOLDED.
I saw "60" and it triggered a response in me that says that is about the max of a single push, at least one that is not news dirven. But, I did not follow the STAY IN rule, which was the new indicator I added this weekend.
To make a shift, I removed the black & white bars, not what I want anymore, and added the SuperTredU11, which I played with for about 4 hours off and on yesterday to see what I wanted it to do, based on past experience and how it related to movement and the DCs I watch.
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
