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Beth's Journey to Make Her Millions
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Beth's Journey to Make Her Millions

  #1221 (permalink)
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MWinfrey View Post
Hi Beth,

Don't know if this will be good for you but it worked and is still working for me with my undercapitalized account. Choose one trade a day that meets your ideal criteria and take that one live. Let the other ones be sim. I'm building my account slowly but surely. At least so far that is working.

Mike

Yes Mike great suggestion. My challenge has always been placing a real trade when it's a great signal according to my book. I am running out of reasons for not placing a trade. Stoploss and risk/reward both within my comfort zone.

Courage .. courage .. courage is all I am missing??!!

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1222 (permalink)
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Desire to succeed is very important, but it is not enough. I agree that if you can supplement your income outside of trading, that is the best approach to take. Pretty much anyone can make millions on sim, but when they go to cash the majority blow up. It's all psychology. The more you can do to remove the psychological link and association with money and dependency, the better positioned you will be to be successful.

Trading is about survival, if you can survive long enough you'll eventually have the experience (from cash trading) that you need to be successful

Mike

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  #1223 (permalink)
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wgreenie View Post
Y...

The signals met my defined 100% chance yet I was reluctant to enter .. sigh ..

Beth

So your mind is still worry that there is a minute chance that something could go wrong dues to some unknown quantity. To overcome it train your neural pathway to the point that your finger clicks the trade by itself. manually draw your entry, stop, target every time you see your trade. this is dif from sim since it does not involve p/l scenario thus you can watch your trade unfold intellectually. Soon your intellect will be able to silent your mind and let you go about money making business.

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  #1224 (permalink)
Market Wizard
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wgreenie View Post
Yes Mike great suggestion. My challenge has always been placing a real trade when it's a great signal according to my book. I am running out of reasons for not placing a trade. Stoploss and risk/reward both within my comfort zone.

Courage .. courage .. courage is all I am missing??!!

Beth

you got it
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  #1225 (permalink)
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cory View Post
So your mind is still worry that there is a minute chance that something could go wrong dues to some unknown quantity. To overcome it train your neural pathway to the point that your finger clicks the trade by itself. manually draw your entry, stop, target every time you see your trade. this is dif from sim since it does not involve p/l scenario thus you can watch your trade unfold intellectually. Soon your intellect will be able to silent your mind and let you go about money making business.

Hi Cory

Your suggestion sounds interesting. Do not have a clear idea on how to do it though .. Appreciate your kind elaboration please.

FYI: I am using a predetermined ATM strategy (incl quantity, PT and SL) for my trade (both sim and real). Press twice on the SuperDom, ie

1. Buy or Sell on the entry point
2. Yes or No to confirm the order

Beth (grateful)

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1226 (permalink)
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From a Learning Sponge to a Realist with Courage!

I am not in search of any systems and indicators anymore after 1.5 years of searching! Good news?? Smile ..

Oh, don't be surprised if my eyes will still widen when I accidentally come across an amazing set-up or indicator haha ..

I just changed my profile to a Realist with Courage (no more a Learning Sponge). I want to be a Realist (used to be Perfectionist) because:

The realist keeps things in perspective. Note the difference between high achieving perfectionists and high achieving realists. If you can't make a reasonable choice in a reasonable amount of time, cut your losses and guess. The realist will do this naturally. The perfectionist will have to learn to do this.

Sooo, I want to be a Realist with Courage!

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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  #1227 (permalink)
Market Wizard
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wgreenie View Post
Hi Cory

Your suggestion sounds interesting. Do not have a clear idea on how to do it though .. Appreciate your kind elaboration please.

FYI: I am using a predetermined ATM strategy (incl quantity, PT and SL) for my trade (both sim and real). Press twice on the SuperDom, ie

1. Buy or Sell on the entry point
2. Yes or No to confirm the order

Beth (grateful)

drawing is to engage your five senses as oppose to putting your brain on 'hold' and wait for a strategy to fire off some order, so you watch the market, check the check list then you see (a) signal you imm mark 1, 2, 3 then sit back and watch it unfold. At the same time you continue to make observations of how it is going to/away from your target, your stop etc... what you do is conditioning you mind your body to response to market clues in timely fashion in a predictable way.

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  #1228 (permalink)
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cory View Post
drawing is to engage your five senses as oppose to putting your brain on 'hold' and wait for a strategy to fire off some order, so you watch the market, check the check list then you see (a) signal you imm mark 1, 2, 3 then sit back and watch it unfold. At the same time you continue to make observations of how it is going to/away from your target, your stop etc... what you do is conditioning you mind your body to response to market clues in timely fashion in a predictable way.

Thank You .. Thank You Cory! I got it .. Let me take out my drawing pencils and practise my sketching skills .. haha ..

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1229 (permalink)
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wgreenie View Post
Yes Soumi71 you can read my mind. For the past 2-3 weeks, I sent out dozens of applications for part-time and contract clerical/customer service jobs in the neighborhood. I am certain that I over-exceed their personnel expectation yet I have not been getting any calls for an interview .. I am talking about min $10/hour job here .. I even considered kitchen help and got strong opposition from UKNOWHO as I am physically not built for it.

Well, I don't understand why a potential employer will not consider me when I can type over 100 wpm + years of admin/operation experiences. Bear in mind that I applied when they had the hourly compensation written out .. meaning I am fine with the offer!!

Back to square one .. .. I better get my act together and make the trading profession WORK! Else I may as well stay idle and learn how to cook an economical and nice meal at home!

Beth

Beth,

Your comment struck a cord with me and felt it might with others as well. I didn't want to muddy the waters of this thread with my comments. So, I started a new thread at https://futures.io/off-topic/6748-income-while-learning-trade.html#post77659.

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  #1230 (permalink)
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Weekly Recap (15-19 Nov)


Here it comes:

No of Trades: 4 (2 winners / 1 BE / 1 loser)
Net Tick(s): 1
$ after commission: -$8.82

Goals Accomplished:

1. Followed my trading plan (eg no over-trade and SOH when there're high priority news and/or close to US market opening)

2. Preserve Precious Capital (key to survival for newbie me)

3. Modification of entry requirements to have a higher chance of success (eg divergence)

Big Lessons learned:

1. I have a pyche missing piece as pointed out by Jungian, Cory and Big Mike - 100% confidence in myself (not system or indicator-related) and courage!!

2. I attended a webinar Thu night on creating ingrained beliefs in our subconscious mind (= 98% contributor to one's success)! Surprise surprise talking, written statements and other conscious efforts only account for 2%.

Emotion:

1. I was quite down on Tue as I continued missing good trades when I had valid signals. I can see most of them coming yet I was reluctant to place a real trade. Once I switched to sim in the afternoon, almost all trades were profitable even incl the evening ones!

2. I was extremely upset on my incompetence after the Wed evening trade. I could not sleep and rather lingered on how stupid I was. Almost wanted to quit. Then I recalled what Jungian, Cory and Big Mike said! Just one missing piece and I have it!!

3. I also recalled what I went through since starting the trading venture. Close to 10,000 hours were spent on getting where I am right now. I'm talking about hours both physical and mental incl passion. I am not going to quit without a big fight!! There're more I can do to make it WORK. For example, a strong commitment to have a non-disturbing trading environment as a start. Yes, I don't have one as UKNOWHO keeps checking on me - good or bad?!

What's Next?

1. Nelson and I are going to have a brainstorming session this weekend to uncover some creative visualization metaphors (incl affirmation statements) to motivate our subconscious mind.

2. It's getting close to our 2nd year anniversary (next Tue). We are going to have an indoor photography session to recapture our sparkles. If some turn out to be inspiring (and cute I must add), I will use them to create our Financial Freedom posters. We are both visual (esp our inner ones) and every attempt will be made to create ?? to energize/empower ourselves LOL!

Wish us luck!

Have a Wonderful week and stay warm. Yes, we had our first snow yesterday. Early this year oooo.

Beth (Feel better (emotionally) today. Oh, 100% back to good health. I succeeded in fighing my cold without seeing my Dr .. smile .. We just came back from some fruits/veggies shopping in 2 near-by towns. Enough for 3 weeks as I did not realize over-buying until reaching the cashier counter. Did return 2 bags of organic fruits .. still .. )

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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