Papa's Trading Journal - futures io
futures io



Papa's Trading Journal


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one papa15 with 339 posts (1,003 thanks)
    2. looks_two bluemele with 47 posts (46 thanks)
    3. looks_3 Big Mike with 43 posts (47 thanks)
    4. looks_4 PandaWarrior with 43 posts (40 thanks)
      Best Posters
    1. looks_one papa15 with 3 thanks per post
    2. looks_two Big Mike with 1.1 thanks per post
    3. looks_3 bluemele with 1 thanks per post
    4. looks_4 PandaWarrior with 0.9 thanks per post
    1. trending_up 81,649 views
    2. thumb_up 1,216 thanks given
    3. group 20 followers
    1. forum 566 posts
    2. attach_file 174 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 150,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

Closed Thread
 
Search this Thread
 

Papa's Trading Journal

(login for full post details)
  #331 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,184 since Jun 2009
Thanks: 32,683 given, 99,760 received

Papa, good job on the report card.

Can you list 10 things for me, in order of importance, where you are making mistakes on your trades -- specifically in the discipline corner. Can you mark up charts and show 10 specific examples of what you did vs. what you were supposed to do?

If you were to take a blank chart, a snapshot of exact time you had to make the correct trading decision, as well as a list of rules for the trade, could you expect someone in your journal to follow them successfully and do the "right" thing? Is it possible? Is it likely? Are the rules clear enough? The expectations correct?

Start here. I can't type more, hand severe pain. More later.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal
The following user says Thank You to Big Mike for this post:

Can you help answer these questions
from other members on futures io?
in depth understanding of last, bid, and ask volume in c …
NinjaTrader
Multi Time Frame High/Low/Median levels
NinjaTrader
Market on Close data within IB
Platforms and Indicators
help with take profit several targets
TradeStation
Big Mo Indicator for NT8
NinjaTrader
 
 
(login for full post details)
  #332 (permalink)
 papa15 
Wake Forest, NC
 
Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker: VanKar
Trading: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 583 given, 1,246 received


Big Mike View Post
Papa, good job on the report card.

Can you list 10 things for me, in order of importance, where you are making mistakes on your trades -- specifically in the discipline corner. Can you mark up charts and show 10 specific examples of what you did vs. what you were supposed to do?

If you were to take a blank chart, a snapshot of exact time you had to make the correct trading decision, as well as a list of rules for the trade, could you expect someone in your journal to follow them successfully and do the "right" thing? Is it possible? Is it likely? Are the rules clear enough? The expectations correct?

Start here. I can't type more, hand severe pain. More later.

Mike

Mike
I appreciate you taking the time to write with a broken hand. I know it must be painful.

Here is the list of my discipline issues as I see them:
1. Lack of patience/anxiousness to be in the market
2. Not honoring stops
3. Not looking at all indicators/price action factors before entering a trade
4. Not checking risk/reward prior to trade
5. Trading setups not in plan
6. Not cutting losers early
7. Overtrading
8. No daily loss limit
9. Using indicators without testing
10. Inability to turn off screens when finished for the day (need to give it a rest)

I will work on marking up charts showing at least 10 things I did wrong. Will take a little time. Will also work on showing blank charts with my guidelines straight from my trading plan.

Thanks again for your time. I do hope the surgery went well.
Papa15

Visit my futures io Trade Journal Started this thread
The following 6 users say Thank You to papa15 for this post:
 
(login for full post details)
  #333 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,395 received



papa15 View Post
Mike
I appreciate you taking the time to write with a broken hand. I know it must be painful.

Here is the list of my discipline issues as I see them:
1. Lack of patience/anxiousness to be in the market
2. Not honoring stops
3. Not looking at all indicators/price action factors before entering a trade
4. Not checking risk/reward prior to trade
5. Trading setups not in plan
6. Not cutting losers early
7. Overtrading
8. No daily loss limit
9. Using indicators without testing
10. Inability to turn off screens when finished for the day (need to give it a rest)

I will work on marking up charts showing at least 10 things I did wrong. Will take a little time. Will also work on showing blank charts with my guidelines straight from my trading plan.

Thanks again for your time. I do hope the surgery went well.
Papa15


I suffer as well from:

1, 5,7,9 and especially number 10.

While I agree its good to identify and work on the negative, I also recognize its probably more important to identify the strengths you bring to the trading day and build on those. To much navel gazing and thinking about the negative will lead to doubt. And that is fatal.

All the things you detailed are legitimate and problematic for most unprofitable traders and even some profitable ones. Most will never be completely eliminated since we are in fact human and prone to error. I think the key is to do the best we can to minimize the errors and focus on making lots of good decisions.

Last week I read "Golf Is Not A Game Of Perfect". I recommend reading this book for all traders. In it, the author notes that winners actually decide to win. They think about winning, how it feels to win, what it looks like to win, and they practice the mechanics on the practice range and then while playing in the competition, they focus on just playing their game. They accept the mistakes and don't fall apart when they happen. The best golfers in the world never play a round perfectly, instead, when mistakes happen, they continue on with the predetermined game plan focusing on playing each individual shot to the best of their ability.

As traders, that is what we should do as well. Accept the mistakes.....even the ones we make all the time and stay focused on the prize. There is a prize right? Keeping our eyes on the long term prize will help us overcome the temptations to stray from out discipline in the short term.

As Winston Churchill said, "Never, never, never, never give up".

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 4 users say Thank You to PandaWarrior for this post:
 
(login for full post details)
  #334 (permalink)
 Mickey Caine 
Kent, England
 
Experience: Intermediate
Platform: Sierra
Broker: Infinity
Trading: Oil
 
Mickey Caine's Avatar
 
Posts: 196 since Jul 2009
Thanks: 1,605 given, 354 received

You have probably seen this before. Makes a good poster though.

Attached Thumbnails
Click image for larger version

Name:	2011-03-27_11-05.jpg
Views:	134
Size:	40.1 KB
ID:	35096  
Visit my futures io Trade Journal
The following user says Thank You to Mickey Caine for this post:
 
(login for full post details)
  #335 (permalink)
 papa15 
Wake Forest, NC
 
Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker: VanKar
Trading: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 583 given, 1,246 received


Mickey Caine View Post
You have probably seen this before. Makes a good poster though.

I first saw this about 30 years ago as a young naval officer....it brings back good memories...

Don't worry, I am not giving up....if I was giving up, would I write such an entry as I did above? It is time, actually past time, to address the issue and fix it instead of trying to cope with it.....

Papa15

Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #336 (permalink)
 papa15 
Wake Forest, NC
 
Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker: VanKar
Trading: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 583 given, 1,246 received


aztrader9 View Post
I suffer as well from:

1, 5,7,9 and especially number 10.

While I agree its good to identify and work on the negative, I also recognize its probably more important to identify the strengths you bring to the trading day and build on those. To much navel gazing and thinking about the negative will lead to doubt. And that is fatal.

All the things you detailed are legitimate and problematic for most unprofitable traders and even some profitable ones. Most will never be completely eliminated since we are in fact human and prone to error. I think the key is to do the best we can to minimize the errors and focus on making lots of good decisions.

Last week I read "Golf Is Not A Game Of Perfect". I recommend reading this book for all traders. In it, the author notes that winners actually decide to win. They think about winning, how it feels to win, what it looks like to win, and they practice the mechanics on the practice range and then while playing in the competition, they focus on just playing their game. They accept the mistakes and don't fall apart when they happen. The best golfers in the world never play a round perfectly, instead, when mistakes happen, they continue on with the predetermined game plan focusing on playing each individual shot to the best of their ability.

As traders, that is what we should do as well. Accept the mistakes.....even the ones we make all the time and stay focused on the prize. There is a prize right? Keeping our eyes on the long term prize will help us overcome the temptations to stray from out discipline in the short term.

As Winston Churchill said, "Never, never, never, never give up".

AZ
I saw one of your entries about the book early last week and I ordered it. It has shipped and I am waiting for it. I fully understand that you can't hold yourself to a standard of perfection. In the navy nuclear world, you strive for it (everyone wants to be perfect while operating a nuclear plant right?) but people make mistakes, equipment fails, so things never go perfectly. But when things go wrong, you look at what happened to see if the issue was procedural, a personal error, a design error, equipment failure, or what. You look for the fundamental issue and address it.

I have looked at my trades to see if I can understand my fundamental issue, and I think I see it. Most of my losers, and some of my winners, were trades I never should have been in. My self-discipline broke down. The reviews that spotted the mistakes also pointed out strengths. The methods of defining the entries are good, the guidelines that go with those entries are good, and profits flow if the guidelines are followed. As long as the method is good, it does not matter what the method is....whether it be the inside bar technique, the ergodic technique, price action breakouts/breakdowns.....or what type of chart is used....time, range, or tick....or what time frame is used.....I have proved to myself I can trade different techniques, chart types, and time frames successfully, albeit for only a short period of time. Then my self-discipline issues arise, and I give back to the market.

To use your golf analogy, I am not looking for a different club, ball, course, or even gameplan. I accept I have the tools I need to be successful. But I recognize I am not using the tools well. Every professional golfer knows what to do, but sometimes they too have to regroup to gain their mojo.

I am looking inward, not outward, to correct a fundamental issue in my life as well as my trading.
Papa15

Visit my futures io Trade Journal Started this thread
The following 4 users say Thank You to papa15 for this post:
 
(login for full post details)
  #337 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,588 since Sep 2010
Thanks: 4,260 given, 2,530 received

I've been following a number a journals for some time now, and it's interesting to see what a similar
path we are all taking. At some point, trading gets compared to life. I know my life has turned for the
better due to trading, ( although certainly not financially at this point )

I have improved on several things since picking up trading, mainly my temper and patience.

For these reasons alone, I will always have trading in my life in some capacity.

...let the journey continue.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Follow me on Twitter Visit my futures io Trade Journal
The following 4 users say Thank You to tderrick for this post:
 
(login for full post details)
  #338 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,395 received


tderrick View Post
I've been following a number a journals for some time now, and it's interesting to see what a similar
path we are all taking. At some point, trading gets compared to life. I know my life has turned for the
better due to trading, ( although certainly not financially at this point )

I have improved on several things since picking up trading, mainly my temper and patience.

For these reasons alone, I will always have trading in my life in some capacity.

...let the journey continue.

I have found this to be true for me as well.....patience being the main one at this point.....but I have noticed I tend to think about things in terms of how it reflects trading....in other words, everything is a trade. When we go to the store, its a trade of money for goods. When I fight with my wife, its a trade of peace and quiet for the privilege of being right! You get the idea.

I'm ready to begin the next phase....the one where I am consistently profitable. As a person, I am in a better place mentally and spiritually than I have been in a long time. Its time to take things to the next level.

Papa15, thanks for being so transparent with your journey. Its a mirror for all of us.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following user says Thank You to PandaWarrior for this post:
 
(login for full post details)
  #339 (permalink)
 cory 
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
cory's Avatar
 
Posts: 6,096 since Jun 2009
Thanks: 877 given, 8,045 received

4.) Everything Is Connected. Whether you are studying baseball, checkers, trees, wars – all contain patterns similar to the patterns we see every day in trading. Sometimes the best way to get perspective on your trading is to study something seemingly unrelated and to then consider the analogies.

-jamesaltucher.com

The following 2 users say Thank You to cory for this post:
 
(login for full post details)
  #340 (permalink)
 papa15 
Wake Forest, NC
 
Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker: VanKar
Trading: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 583 given, 1,246 received


Mike
Attached is a chart showing 3 lack of self discipline issues.
Papa15

Attached Thumbnails
Click image for larger version

Name:	3 mistakes 3-25-11.png
Views:	138
Size:	73.2 KB
ID:	35124  
Visit my futures io Trade Journal Started this thread
The following 4 users say Thank You to papa15 for this post:

Closed Thread

futures io Trading Community Trading Journals > Papa's Trading Journal


Last Updated on May 31, 2012


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2023 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), 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