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iqGod's Own Country

  #121 (permalink)
Mumbai, India
 
Experience: Advanced
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The need to "prove"

If I take a look at my trades on ES this week, ALL have been countertrend shorts.

Successful, yes.

But I kept feeling that had I gone long somewhere and held I would have done better.

This trend from the speed of it does look like it will go into a blow off phase, the frenzy that brings out the animal spirits; similar to the dot com boom.

That is about "The Story". Wanting a big slice of the trend is greed. Wanting confirmation and surety is another emotion which is best served by taking these countertrend scalps where you can "see" the order flow and get a percentage wise huge win rate - that is psychological comfort. But trading is definitely not about being comfortable, safe and sure. However I am relaxed and still confident that I am taking what the market gives me in the now moment, albeit in a much smaller way than possible.

Something to ponder on....

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  #122 (permalink)
Legendary Amateur Trader
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iqgod View Post

... Wanting a big slice of the trend is greed...
... However I am relaxed and still confident that I am taking what the market gives me in the now moment, albeit in a much smaller way than possible.

Something to ponder on....

That was one of the first lessons I had to learn early on (the hard way, as so often )

There is no way that we can get each and every move and ride it to the very last tick.
But once one finally understands and worships that, it reveals another, much more comforting truth:

There is no Need to get it all. Even a tiny fraction of all movement is more than enough to do very, very well.
AND you then have plenty of time to actually live - without regretting not being in front of the tradingplattform

ST

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  #123 (permalink)
Mumbai, India
 
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Scalpingtrader View Post

comforting truth:

There is no Need to get it all.

Even a tiny fraction of all movement is more than enough to do very, very well.


ST

Well said!

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  #124 (permalink)
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Today's ES trade

This ES short seemed like a heroic act until it justified itself - there was no reason to not take this trade once it dropped out of the box:




(posting index, approximate trade locations - again, I exited too early)

Result +$75 on one lot

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  #125 (permalink)
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Even while scalping...


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  #126 (permalink)
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one man's panic is another man's euphoria, but the ultimate question is whose?

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.

Last edited by Itchymoku; September 1st, 2014 at 06:21 AM.
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  #127 (permalink)
Mumbai, India
 
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Need to improve

I need to get better - did not get stopped out since stop was beyond edge of this range, but silly of me to be taking these trades instead of waiting for the range boundaries to be hit (at which point entry made perfect sense). Three one tick winners.


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  #128 (permalink)
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Perspective


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  #129 (permalink)
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... and I was complaining

Here was how it went from there:


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  #130 (permalink)
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Posts: 1,684 since Feb 2012
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Journey


The TST combine starts tomorrow!

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