The Way of the AttitudeTrader - Trading Journals | futures io social day trading
futures io futures trading


The Way of the AttitudeTrader
Updated: Views / Replies:24,855 / 220
Created: by AttitudeTrader Attachments:4

Welcome to futures io.

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

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

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

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

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

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

-- Big Mike, Site Administrator

Reply
 4  
 
Thread Tools Search this Thread
 

The Way of the AttitudeTrader

  #31 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
AttitudeTrader's Avatar
 
Posts: 358 since Oct 2009
Thanks: 6,868 given, 857 received

Thanks

Thanks for the thoughts and insights @omni72 .

omni72 View Post
...People, especially traders, seem to have this tendency to give back unexpected winnings/earnings. I have no idea if that in any way applies to what you experienced today, but it's a very common trap. I'm certain some of this pattern is rooted in the notion of playing with 'house money'. But there is more to it than that. Anyway, just a thought.

Although it's possible that there could be forces at play that I am completely unaware of, I don't believe that this is the case for today. The trades I took were all (even the one where I broke my 3-losses rule) setups per my rules/plan and I would have taken them last trading session, and I would take them next trading session. With that in mind I just see this as the statistical playing out of the numbers.

It would just be nice if the numbers got better.

-AT

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------
Reply With Quote
The following user says Thank You to AttitudeTrader for this post:
 
  #32 (permalink)
Elite Member
Tulsa, OK
 
Futures Experience: Beginner
Platform: Jigsaw, Ninja Trader, Sierra Chart
Broker/Data: Ninjatrader/Rithmic
Favorite Futures: G&L Tribute Series Rampage
 
omni72's Avatar
 
Posts: 348 since Jan 2012
Thanks: 582 given, 619 received


AttitudeTrader View Post
Thanks for the thoughts and insights @omni72 .


Although it's possible that there could be forces at play that I am completely unaware of, I don't believe that this is the case for today. The trades I took were all (even the one where I broke my 3-losses rule) setups per my rules/plan and I would have taken them last trading session, and I would take them next trading session. With that in mind I just see this as the statistical playing out of the numbers.

It would just be nice if the numbers got better.

-AT

First, my bad - when I originally read the post I thought you took two extra trades, one a loss and one a scratch. As it turns out it was only one extra trade and it was the scratch.

And I agree about the statistical aspect of the trades, but I'm really looking more at the emotional capital spent. In my mind it looks like you spent some of the emotional capital you built up over the previous 30-ish trades on the extra trade. For whatever reason, at that moment you felt more entitled to put on another trade than you felt committed to your plan. To me house money includes emotional capital Ugh, I really don't like using the same phrase three times in one paragraph, but I guess that's what I just did

Honestly though, I don't want to contribute any additional attention to the little blip. The work and effort you have been putting in is first rate. Period.

In fact, from here it looks like you handled today very well. Kudos on reigning it back in and sticking to your game plan. That in itself can become a herculean task.

Luck is what happens when preparation meets opportunity. ~ Seneca
Reply With Quote
The following 3 users say Thank You to omni72 for this post:
 
  #33 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
AttitudeTrader's Avatar
 
Posts: 358 since Oct 2009
Thanks: 6,868 given, 857 received

My Eighth Day of Training


A little bit stressed toward the end of the session and my last trade was stopped out to the tick before price continued in my direction. But overall it was a decent day with only 1 mistake and no broken rules.

No fill
08:30 Had a setup right at the open. Price touched my order level but wasn't filled. Then price moved to my target level, so the trade is over now.

Trade #34
08:43 Long on valid setup. I thought price was going to take off before my setup triggered, but it hung around for a long time and I was able to get in.
08:46 Still hanging around here though. Getting a little nervous. Doesn't matter. Today is just about following my plan. That's it.
08:48 Stalling at 4 ticks MFE...
08:50 Report in 10 minutes. I'll have to exit this in 7 minutes.
08:50 Out target. +6 ticks. Feels good to have a winner after yesterday. It's still irrelevant! Just keep taking my setups for now!

Trade #35 - Mistake
09:13 Long. Mistake. Price was above my entry level when I entered, so I'm in 1 tick better.
09:14 Thought it was a valid setup as it was forming, but I realized that it wasn't yet. Limit order is moved to entry.
09:20 Stopped out. -4 ticks. It was an honest mistake because it was a bit difficult to tell, but it cost me this time.

Trade #36
09:34 Long on valid setup.
09:37 Price moved 3 ticks MFE and has come back down to 2 ticks MAE. Feeling a little sick. Don't want a repeat of yesterday. It doesn't matter. I have to be in this for the long term – not just yesterday, not just today.
09:43 Wow. Out target. +6 ticks.

Trade #37
10:11 Long on valid setup.
10:17 Out target. +6 ticks.

Don't want to take the next setup
11:22 I mark my charts with with every entry and exit, and I believe I see a pattern occurring that leads to losing trades for me. I don't have enough data points to confirm it yet, although right now my stats show that I have more losing trades than winners when this situation arises.
11:31 Setup never occurred, so it wasn't an issue.

Don't want to take this next setup either
12:13 Price has continued to make new highs and I'm sure it's ready to turn around now.

Trade #38
12:15 Long on valid setup. Don't like it though.
12:24 Banged within 1 tick of my target for quite a while and has pulled back down to within 1 tick of my entry. Don't like this. I'd like to get out now. It doesn't matter! I have to let my trades play out! If I mess with them in a random fashion, I can only get random results. I have to be consistent so my method can be consistent!
12:37 Wow. Out target. +6 ticks.

Trade #39
12:46 Long on valid setup. I REALLY don't want to be in this one!
12:48 I can already feel the frustration at taking a trade that I knew I shouldn't be taking and risking the profits I already have for the day. Get over it! It's just another trade! The profits will come as a result of following my method consistently, not by avoiding trades! If I find that this kind of trade does poorly on a consistent basis, then I can change my plan when it's appropriate, but not now!
12:51 Going against me – already 3 ticks MAE, and 0 ticks MFE.
12:56 It has actually moved up to 1 tick MFE now.
12:58 It has maxed out at 3 ticks MFE but pulling back down now.
13:06 I don't believe it. 5 ticks MFE now. Even if it comes back and stops me out, I've just done a little more positive reinforcement that I need to take all of my setups.
13:09 Holy ****! Are you kidding me?! Out target. +6 ticks. Unreal.

Incredibly difficult for me to place the next trade
13:16 I'm looking for reasons to avoid taking this trade!

Trade #40
13:16 Long on valid setup. I DO NOT want to be in this trade.
13:19 Already 3 ticks MAE. Ugh, it's killing me to be in this one. Stop it! It doesn't matter! Follow the plan! Cover the chart up and read a book or something while this trade is on!
13:25 Pulled up my Kindle Cloud reader and started reading. Finding the urge to check price almost uncontrollable.
13:28 Doing a little deep breathing too.
13:30 Ok, I'm a little more relaxed. I'll check price now. Uh oh, it's about to stop me out – 4 ticks MAE now. Irrelevant. I won on this trade because I followed my plan instead of acting randomly.
13:33 Back to reading...
13:52 Haven't looked at price yet. But I can see from the S5 Trade Analyzer that I'm still at 4 ticks MAE and only 1 tick MFE, so I haven't been stopped out and price hasn't moved any higher either.
13:59 I just looked over at the Trade Analyzer and it has gone to 2 ticks MFE. Hmmmm...
14:06 Stopped out. -5 ticks. Pretty relaxed since I wasn't watching price, so I'm not too upset about this.
14:10 Ugh. Now I'm a little pissed off. I was stopped out to the tick and now price is powering up and making new highs. Doesn't matter! This setup is more confirmation that my method is valid. I'll use this data later to see if there is an adjustment that I need to make.

Hesitating...
14:25 Only 5 minutes until my cutoff time for new entries. I don't want to take any more trades today.

Finished for the day
14:30 Ok, that's it. Have to post this and get started on my paying job now.


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------
Reply With Quote
The following user says Thank You to AttitudeTrader for this post:
 
  #34 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
AttitudeTrader's Avatar
 
Posts: 358 since Oct 2009
Thanks: 6,868 given, 857 received

My Ninth Day of Training

On trade #46 below I mentioned looking my only other chart today – a longer time frame – and after only looking at one chart and one time frame for what seems like an eternity (it had been less than nine trading days!), I could instantly feel the difference between trading in my little “hole,” and looking at other, often conflicting, possibilities.

However because of this exercise so far and the fact that I've been staying within one very well-defined framework, I was able to instantly see things on this longer-term chart that I'm going to be able to incorporate into my trading plan. The things I'm seeing aren't anything new to me, but rather I'm seeing them in a way that I may be able to use in concert with what I'm already doing. Like "I had been looking at it through a colored stone which had suddenly been removed.”

So although I was only somewhat profitable on the day, today has turned out to be very valuable with regard to my trading in general. This eye-opener makes the value of an exercise like this – starting very small and simple – even more apparent to me.

Trade #41
08:58 Long on valid setup.
09:00 Price sliced through my entry and hit my stop before I could even complain about it. Stopped out. -5 ticks.

Trade #42
09:33 Short on valid setup.
09:40 Out target. +6 ticks.

Trade #43
09:45 Short on valid setup. But I don't like this at all. Price is slow and this is a small range to be in. It's ok. If situations like this one don't work out well according to my stats, then I'll modify my plan later.
09:50 3 ticks MFE has turned into 3 ticks MAE.
09:52 Closing my eyes and visualizing.
09:56 This is not looking good – 4 ticks MAE. Back to visualizing.
10:04 Stopped out. -5 ticks.

Trade #44
10:28 Long on valid setup. Trading into IB Mid though...
10:31 Bit of a sinking feeling right now. Doesn't matter though. Just stick with the plan for now. Back to visualizing...
10:35 Out target. +6 ticks.

Trade #45
10:59 Long on valid setup. Price has been hanging here just above IB Mid for a very long time without making progress higher, so I'm concerned about this one. Price movement is very slow prior to FOMC, so I may need to make a rule about this.
11:06 Definitely need to have a rule for FOMC day. Price spiked down against me 4 ticks MAE in an instant.
11:18 Ugh. Stopped out. -5 ticks. Irrelevant. Prepare for the next setup.

Trade #46
13:29 Short on valid setup 14 minutes after FOMC statement.
13:31 I was anxious to get into this one – yes, I actually wanted to take it because after an eternity (for me) of watching only one chart and one time frame, I looked at my only other chart (larger time frame) and immediately saw numerous places where it would have helped me stay out of some of my losing trades – obvious places. So I stayed with my plan, but based on that other chart, I wanted to be in this trade. I'll look at modifying my plan later if this appears to continue to be the case.
13:35 It has been 3 ticks MAE now – not looking too good.
13:37 Nice! Out target. +6 ticks.

Trade #47
13:56 Short on valid setup.
14:00 3 ticks MAE now. Not liking this too much.
14:10 Price had moved 4 ticks MFE and now it has moved back against me to 4 ticks MAE...
14:14 Nice! Out target. +6 ticks.
14:30 Wow. The day went by surprisingly fast for me. That's it.


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------
Reply With Quote
The following user says Thank You to AttitudeTrader for this post:
 
  #35 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
AttitudeTrader's Avatar
 
Posts: 358 since Oct 2009
Thanks: 6,868 given, 857 received

My Tenth Day of Training

This has been an eventful, exhausting and enlightening day for me. I learned a lot about my method and myself today.

My charts are really marked up today because of what I was doing/seeing, so I can see that I had a lot going on – although it didn't have to be that way. It could have been another day just like the previous 9 days and I would have actually been more profitable too.

However, I'm ending the day excited about my future (for the first time in a very long time), because 1) despite getting off of my path today, my simple method still proved itself, and 2) I made a striking discovery about myself and how I'm thinking about my trading (see "A light bulb goes on in my mind!" below).

Trade #48
08:34 Long on valid setup.
08:35 Report in 10 minutes, so if I'm not stopped out of this I'll need to exit in 7 minutes.
08:37 Price looks like it wants to continue pushing down, so I'm nervous. Let's don't start with this so early in the day. Relax and take your setups.
08:40 Out target. +6 ticks.

Avoided a setup
08:58 Because I haven't made any changes to my plan since I started, and I'm well over the initial 20-trade sample size where I was allowed to change one aspect of my method, and due to what I discovered yesterday, I modified my plan to include one simple aspect of this discovery. So I didn't take this setup.
09:03 It would have been a loser so I'm happy with this so far.

Want to enter in the opposite direction
09:10 I want to take a trade in the opposite direction, but I just don't have enough data and/or solid rules to support that yet.
09:15 Would have been a beautiful winner. Really? What are you doing? If it's that important start keeping stats on it, but in the meantime focus on your CURRENT plan.

Trade #49
09:38 Short on valid setup. I almost avoided this one due to what I'm seeing on my other chart, but it's not clear enough to avoid this one.
09:42 Has been 5 ticks MFE but moving up a little now.
09:43 I feel the stress of the other components I'm looking at. I need to make sure I keep this new view VERY simple.
09:43 Out target. +6 ticks.

Some different feelings...
10:02 Price has moved nicely beyond my exit of the last trade, and in the past 9 days that's been fine – I keep stats on how far every trade goes. But today, because I'm looking at the longer term chart too, I'm having those feelings like ”I should have taken more out of that move,” and I'm feeling some pangs of “missing out.” It's important that I keep my mind focused on my objective and my plan. My method has done fairly well up to this point and is creating a relatively solid foundation for me to work from. I've discovered something potentially valuable that may already be helping me, but I need to slow down and take it one step at a time. And keep it VERY simple.

Trade #50
10:25 Short on valid setup. I'm pretty sure this is going to pop up and stop me out. Irrelevant!
10:27 I'm definitely having more feelings of needing to be right today.
10:30 Wow. Out target. +6 ticks.

Trade #51
10:37 Short on valid setup. I don't like going short again so soon after the last trade or the fact that price has moved down so much already. Just focus on executing the plan for now. If I could read price action, then I wouldn't be needing this exercise. Time to read a book or something...
10:48 Stopped out. -5 ticks.

Missed opportunity?
11:42 Price created a pattern that is in line with my method and I really wanted to enter, but my rules didn't trigger a setup, so I couldn't take it. It moved in the right direction and I was a little bummed about not getting to take it. I immediately started to question my method and wonder if I should be changing some rules. Seriously?! After one alleged missed opportunity?! Take a step back and look at what your method has done for you over the prior 9 trading days. That's the kind of thinking that has kept you in the hole you've been in for years and years. Forget about it and finish your lunch.

Avoided another setup
12:27 I passed on another setup due to my new rule. I hope this isn't going to be something that impedes the performance of my method. It doesn't matter what happens. You made the rule now stick to it. Did you wait to see how it works over time or was this an impulsive change?
12:46 ****! Price exceeded my target level – I would have had a profit on this one. Maybe it's just better to stay stupid and follow my simple plan.
12:50 Reading a book while I wait for the next one...

Huge lesson learned today
13:36 I avoided another setup which was a winner, but not because I consciously decided to. I just had it solidly in my mind that price was turning around and heading down based on the new stuff I'm looking at. I'm not even pissed. In fact I'm laughing out loud. My simple method is making me look like an idiot! Look at what I've done. I tried to be smart and implement a modified rule-set with only one day of evidence or experience with how it might work. And I did it in an effort to “avoid taking losing trades.” That is a deep pattern with me. Deep breath, deep sigh. Ctrl-Z on the one bullet point that I added to my trading plan this morning and back to my simple method and just taking the losers as they come. I will keep an eye on what I'm seeing on the other chart, but I won't make any changes with regard to it until I've had a lot more experience with it. Besides, what's even more stupid is that the stats I've been keeping are showing me that by making a minor change to my trade management, I can increase my profits by about 20% and retain 97% of my win rate.

Holy ****! A light bulb goes on in my mind!
13:49 Why don't I just do that? Why don't I just implement that minor change? Because I've been waiting for “enough data” to confirm it. And yet I go and change my plan after one day of seeing something on another chart in order to AVOID TAKING LOSING TRADES. Am I seeing the difference here? I was more motivated to do something to avoid taking losses than I was to implement something that will generate more profits on the winning trades that I'm already taking. What the ****?

The value of this exercise is...
The enormousness of the value that I'm beginning to see in this exercise of consistently applying an approach without modifying it constantly is almost indescribable.

The new idea
14:16 My new idea just worked beautifully, but I didn't have enough experience with it before to know what I should/shouldn't be looking at. So it definitely has value and I will continue to monitor it. Also it has caused me to see another possible helpful situation that I will also monitor.
I will include these in my stats spreadsheet now, but I WON'T CHANGE MY PLAN until I've monitored it for at least a 20-trade sample size. Only then will I consider implementing it.

I want to take the next setup...
14:30 I wanted to take the next setup, but 14:30CT is my cutoff time right now so I have to quit. Probably a good idea to end the day by following my rules, yes?


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------
Reply With Quote
The following 6 users say Thank You to AttitudeTrader for this post:
 
  #36 (permalink)
Elite Member
Tulsa, OK
 
Futures Experience: Beginner
Platform: Jigsaw, Ninja Trader, Sierra Chart
Broker/Data: Ninjatrader/Rithmic
Favorite Futures: G&L Tribute Series Rampage
 
omni72's Avatar
 
Posts: 348 since Jan 2012
Thanks: 582 given, 619 received

Doin' work!


AttitudeTrader View Post
This has been an eventful, exhausting and enlightening day for me. I learned a lot about my method and myself today.

...

However, I'm ending the day excited about my future (for the first time in a very long time), because 1) despite getting off of my path today, my simple method still proved itself, and 2) I made a striking discovery about myself and how I'm thinking about my trading (see "A light bulb goes on in my mind!" below).

...

The value of this exercise is...
The enormousness of the value that I'm beginning to see in this exercise of consistently applying an approach without modifying it constantly is almost indescribable.

Fantastic stuff, @AttitudeTrader! Seriously AT, I don't think I could be more impressed with how you've stuck to it and really committed to the exercise.


Looking forward to the next update ... and your book release

Luck is what happens when preparation meets opportunity. ~ Seneca
Reply With Quote
The following user says Thank You to omni72 for this post:
 
  #37 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
AttitudeTrader's Avatar
 
Posts: 358 since Oct 2009
Thanks: 6,868 given, 857 received

Thank You


omni72 View Post
Fantastic stuff, @AttitudeTrader! Seriously AT, I don't think I could be more impressed with how you've stuck to it and really committed to the exercise.


Looking forward to the next update ... and your book release

That's very nice of you to say @omni72 . Really appreciate it.

-AT

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------
Reply With Quote
 
  #38 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
AttitudeTrader's Avatar
 
Posts: 358 since Oct 2009
Thanks: 6,868 given, 857 received

Training Day 11

Kind of a rough day mentally. My mind was scattered. It was even reflected in my diet regimen – I was eating randomly after lunch when I actually have myself scheduled to take some supplements “between meals.”

Honestly it was a combination of still having that longer term thing in my mind and on my charts (being afraid of trading into areas that I “know” will stop my trades) and being involved with other things that are trading-related, but don't have anything to do with my charts/entries/exits. I need to get back to the focus I had on my trading prior to the last two days. I need to focus on my trading work while my trading session window is open each day.

With regard to that longer-term idea: I laugh a little as I feel like there's a direct inverse relationship between being a “smarter” trader and being profitable trader.

Even though I'm bummed about my performance and mental state today, there is one thing that is very different about finishing this way on a Friday afternoon than it has been in the past for me: I'm not discouraged about the prospects of my trading future.

Instead of seeing this as another failure and feeling like I just don't know what I'm going to do next, I see this as a sucky day and that's all. In fact, just saying that puts a smile on my face and lifts my heart, because I have confidence that if I get focused on my plan and objectives again, like I was over the first 9 days, then I'll be back on track.

The weekend is here. Time to regroup, review, and regain respect for the rules that have helped me to accomplish what I have up to this point.

Starting out afraid
08:25 I'm afraid to implement the slightly extended target that I've tracked over the last 51 trades and has proven to be 20% more profitable and still retain 97% of my win rate. Why am I afraid? I think I'm afraid because it will mean having to wait longer on trades, which makes me fear that the target won't get reached when I could have had profits on the target that I've been using up to now. I am again allowing my actions to be dictated by fears – my fear of missing profits by trying for “too much” - rather than by my stats.

Can I get myself to make this one change and try it out for the next 50 or so trades like I did with the original target level?

Avoided a valid winning trade
08:49 Deep breath. What is wrong with me? I put a longer term measurement level on my chart and then I avoided my first winning setup for the day. I said I wouldn't make any decisions based on it, just monitor it. But it caused me to have an enormous bias that I would be shorting right into a solid support level.
08:54 Ok, another deep breath, just relax.
09:00 That level did turn out to be support and price only went 2 ticks beyond my target before turning around to make new highs. So it isn't completely without merit.

Trade #52
09:13 Long on valid setup. OMG this is so hard – I'm using the new target level. And I'm so afraid that it will hit my usual target level but not make it to the new level and I'll end up with a losing trade rather than one I could have had my usual profits on. Really? You've kept detailed stats about this. It is a valid and calculated risk. But most importantly, and the same as every day before and every trade before, THIS TRADE IS MEANINGLESS. It is just another trade in a very very very long series of trades to come. NOW LET IT WORK.
09:23 Heart palpitations now! 7 ticks MFE. I could have had my normal profit and be out of this trade now. It's killing me.
09:25 REALLY?! Price has pulled back down to below my entry now. ****!
09:29 ****! Stopped out after 7 ticks MFE. -5 ticks. I'm pissed.
09:36 I need to regain my composure here.

Trade #53
09:43 Short on valid setup. Using new target.
09:49 Price is powering up toward my stop. Shaking my head. A bit disgusted right now.
09:58 Price has been 5 ticks MFE and is now back above my entry.
09:59 Stopped out. -5 ticks. I have nothing to say right now.

Trade #54
10:29 Long on valid setup. Using new target.
10:34 6 ticks MFE now.
10:39 Woohoo! Out target. +7 ticks. Feel better now? You know it's still irrelevant though don't you? It's just another trade. Just like the other two were just trades. But look at the extremes in the different emotions you're having. Is that really necessary or helpful? Or are they all in fact “just another trade?” Think about it.

Trade #55
13:20 Long on valid setup.
13:56 Stopped out. -5 ticks.
Rough day mentally.

No fill
14:21 Entry price was touched but not filled. Target reached, so order canceled.

End of the day, end of the week
14:30 That's it.


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------
Reply With Quote
 
  #39 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
AttitudeTrader's Avatar
 
Posts: 358 since Oct 2009
Thanks: 6,868 given, 857 received

Weekend Review and Stats

A review of the week

Last night, as I thought about the last two days of trading I'd gone through, I was embarrassed with myself. What kind of behavior was this? It's childish. Do I want to be a trader or a crybaby throwing random fits?

It didn't take me long to realize that I may need more than just a simple plan and a “commitment” to follow it. I may need a more well-defined mental framework from which to operate.

It also didn't take me long to come to the conclusion that probably one of the most effective structures for modifying my behavior would come from the military.


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


My trading plan is literally my “mission plan.” And a lack of clarity about the mission and/or deviating from the mission plan in a military operation can open the door for disaster. It will take me a little time to test and develop this framework for myself, but I will be working to implement several specific things:
  1. I am the FNG:
    I need to get clear about the fact that I am not yet a successful, profitable or professional trader. Period. But this is not meant to be self-demeaning in any way. On the contrary, understanding my “place” may be as important a realization as any, because it provides the context and platform from which I can then begin to progress. If I take action from the perspective of something I am not – i.e., being “in over my head” or being “out of my depth” – then those actions will likely not end successfully. So for the foreseeable future, I am the new recruit; I am the grunt; I am the FNG. And my only job is to operate within the training and mission parameters that I've been given.
  2. Daily AAR:
    I post my trades and results every day now, but my framework for determining whether I “did well” or not, and whether I met my objectives or not, is fuzzy. So I will be working to develop that framework so I can then perform my AAR at the end of each trading day.
  3. Diet, exercise and rest:
    I already follow a very good, strict diet that I designed for myself. Some might refer to me as being somewhat "straight edge" too, because I don't do any form of drugs, tobacco, or alcohol - and I even limit my caffeine intake to one iced tea per day right now. I also follow a very simple but very effective (like my trading plan) military-inspired exercise regimen that I designed for myself. But now I will be taking these more seriously and treating them as if I'm in military training. That also means getting an appropriate amount of sleep/rest.
  4. Attitude and mental work:
    I do daily mental work, but again, I will begin treating this more seriously – as if my future depends on it (which it does). I'm not going to go into detail about what I'm doing at this point. But I will say that I began doing my mental work in a different way - with a different slant - this past October, and there is no doubt in my mind that it is responsible for catapulting me to where I am right now. I say "catapulting" because significant changes have occurred in my life with regard to my trading work since then. For example, this isn't the first time, by any means, that I have attempted a consistency exercise like this, but something is distinctly, almost eerily, different this time around. Things related to my trading and my life are suddenly "falling into place" little bit by little bit. I believe that ultimately this is where the key truly lies.

I'm making plans like this because this kind of structure appeals to me. I've done martial arts and a triathlon; I spent most of my youth on motocross bikes; I recently spent several years very involved in speedball (tournament-style) paintball; and I've always been involved in other miscellaneous physical activities.

Training and discipline has been a big part of my way of life. It's time to apply it to my trading in a serious way.


A look at the stats

My expectancy appears to be waning a bit. Not altogether surprising, but I'll just have to see how this progresses.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Since it's the end of the month I'll post my Weekly Stats grid.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Hope everyone had a good week and a good January. I'm looking forward to seeing what February has in store.

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------
Reply With Quote
The following 3 users say Thank You to AttitudeTrader for this post:
 
  #40 (permalink)
Elite Member
Williamsburg, VA
 
Futures Experience: Intermediate
Platform: ThinkorSwim
Favorite Futures: Stocks
 
worldwary's Avatar
 
Posts: 523 since Mar 2010
Thanks: 259 given, 788 received


I enjoy your journal a great deal. You do a really good job of documenting your emotions as they evolve during a trade. Keep up the good work!

-----------------------------------------------------

"If you must forecast, forecast often."

-- Edgar Fiedler
Reply With Quote
The following user says Thank You to worldwary for this post:

Reply



futures io > > > The Way of the AttitudeTrader

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
AttitudeTrader Trading Journal AttitudeTrader Trading Journals 49 September 23rd, 2011 06:43 PM


All times are GMT -4. The time now is 12:41 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.25 seconds with 20 queries on phoenix via your IP 54.226.113.250