Daily Trading Goals: I plan to trade the 7:30 a. m. (CST) Employment Situation Report Tuesday morning. Markets on Monday seemed to have a muted response to "stale" data released in the EIA Petroleum Status Report. Will the employment number produce the type of price movement I expect? My goal is to maintain an aggressive trailing stop to limit risk in case it doesn't.
Best & Worst: I value preparing my trading day the day before so highly that I consider laying out my trades for tomorrow to be my best trade of today. I have 2 trades planned, including contingencies depending on if my 1st trade is a winner or a loser.
What Did I Learn Today? No matter how powerful emotions may be they don't last. For me, the satisfaction of trading must arise from taking pride in a job well done when I do the work well.
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Daily Trading Goal: I have 2 trades planned. I realize I will encounter thoughts and feelings during the day -- possibly as a result of trade outcomes. As Dr. Menaker says, I don't want to trade to manage my emotions.
Best & Worst: I felt like a failure when I couldn't execute my planned trade at the open of the Crude Oil pit session. I wanted to feel happy, because I couldn't execute the trade cleanly -- prices were moving too fast -- so I stayed out. My best trade was journaling this experience to examine my actions and learn what I could. Afterward I felt calm and relaxed and ready for my next trade.
Daily Trading Goals: Yesterday I found myself feeling like I had failed after I missed a trade when prices were moving too fast for accurate trade entry. Part of the problem was disappointment -- I expected to take a trade. Today I want to focus on correct actions (not expectations).
Best & Worst: I completed my final Combine account trade for the week with good actions during execution and thorough journaling afterward.
What Did I Learn Today? Talking with my friend the thought occurred to me that our fellow traders' progress is a better indication we are moving forward than our P & L.
Daily Trading Goals: Yesterday I added a green light - yellow light - red light personal monitoring system to my trading plan. I wake up with a green light. If I make a mistake (i.e. put my shirt on backwards) that's a yellow light. A second mistake is a red light -- no trading. My goal for today is to incorporate my new procedure into my routine.
Best & Worst: I performed according to plan for the 3 trade opportunities I had today. It was the last day of my Combine, and -- according to my All Accounts Book -- my ending balance is $32,983.75. This is the first time I've hit the profit target and all secondary metrics in a Combine.
What Did I Learn Today? Reaching a personal milestone has been a result of diligence and consistent small steps.
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Daily Trading Goals: My watch words for trading the live account are "trade as advertised". I want to keep focused on each series of actions in isolation and concentrate on acting in accordance my plan one trade at a time.
Best & Worst: I was able to finish with a small winning day, but more important I took the correct actions. I know there will be losing days, but I want to build trust in myself to trade carefully and consistently.
Daily Trading Goals: It is mid-week and I haven't taken a trade yet. My opportunities have not presented themselves, so staying out has been the right move. Today I have a nice opportunity in the EIA Petroleum Status Report. My goal is to concentrate on correct actions.
Best & Worst: My best trade was updating my trade control master sheet to make sure I am tracking my progress toward meeting my Junior Trader account metrics.
Congratulations on your success with the TST Combine and I wish you the best in trading in the coming year. I hope you don't mind me posting this (I'll remove it at your request) but I thought it was one of the best I've listened to (despite the technical issues), again well done. I urge you to let it ride because as stated previously you are"a true inspiration," to many here on futures.io (formerly BMT).
IMO, this is not the time to be humble, it's the time to be proud, again well done Fred (and Elvis ).
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