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A Cowboy's Trading Journal
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A Cowboy's Trading Journal

  #371 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
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Finally got a courage to act, took one long at 50% of ADR_L by seeing oil about to turn and exited at about 50%ADR_H because it's still a counter trend trade.

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  #372 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
Thanks: 2,724 given, 1,864 received
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bmtrading9 View Post
Finally got a courage to act, took one long at 50% of ADR_L by seeing oil about to turn and exited at about 50%ADR_H because it's still a counter trend trade.

Should have walked away lost 20 points trying for breakout.

Sent from my SAMSUNG-SM-G900A using Tapatalk

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  #373 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
Thanks: 2,724 given, 1,864 received
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bmtrading9 View Post
Should have walked away lost 20 points trying for breakout.

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Damn breakout it is then...

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  #374 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
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Did few dumb mistakes like putting an overnight order (good thing was put a stop) but still managed pull out some 135 YM points out of market, not great when compared to other but good enough for me to close the week green.

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  #375 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
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Futures Edge on FIO
http://www.andrewmenaker.com/context-is-king-for-the-discretionary-trader/

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  #376 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
Thanks: 2,724 given, 1,864 received
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http://www.trading-naked.com/context_is_everything.htm

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  #377 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
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Posts: 1,677 since Mar 2013
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Oh boy this is exactly what I am going thru

http://www.andrewmenaker.com/the-tick-by-tick-assault-on-your-judgement/

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  #378 (permalink)
Elite Member
milpitas, ca, usa
 
Futures Experience: Intermediate
Platform: Tradestation
Broker/Data: Tradestation, Ameritrade
Favorite Futures: ES, Gold, 10 Yr
 
rahulgopi's Avatar
 
Posts: 1,450 since Feb 2014
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bmtrading9 View Post
Kind of forgettable week for me, haven't done much just trying to come out of the little end of the month mess I did. In my defense, I was very busy for three days of the week and not able to concentrate much but was able to predict the direction correctly just couldn't capitalize on it.

Current market conditions is like a double edge sword, we have to be razor sharp in focus and execution then we can meet months if not year goal but even the slightest distraction, small hesitation, miscalculation and stubbornness can wipe out gains if any or can put us in a deep hole.

One must be adjusting/flipping positions at subconscious levels for this kind of adjustment it might take some time and comes with a lot of cost in the form of loosing. So how one can operate in this environment fearlessly one can ask? Answer comes with ones own previous experience for me my biggest losses came out of this kind of markets how? My nature of mean reversion combined with loss aversion had me made go against the trend (which came after this kind of volatile environment) before without giving much thought to context or why the BTFD happening, who is behind all the BTFD buying, ultimately I was right but cost was huge in the form of opportunity, in the form of loss and in the form of mental agony.

So my brain automatically trying to get re-wired and obviously working with FEAR. Only way one can operate without fear is if ones old profits are way bigger than the current day's range. This week I will try to define my entries and exit before and place limit orders.

Your sub-conscious is nothing but the neural pathways that has been established in the brain as a result of your past beliefs and conditioning. These pathways are like any other muscle in your body, they grow stronger if you work them out. When you work with the fear, try to resist them or inject positive thinking to avoid the fear, you are unconsciously working them out, giving them focus and attention. The only way to release the fear is to allow it, consciously allow it so that it will eventually loose its momentum. Having a bigger profit is not eliminating the fear, it is just masking it using mental tricks like playing on house money etc. Instead try allowing the fear, understand your reason behind it and consciously release it so that it will loose its momentum on you.

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  #379 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
Thanks: 2,724 given, 1,864 received
Forum Reputation: Legendary


rahulgopi View Post
Your sub-conscious is nothing but the neural pathways that has been established in the brain as a result of your past beliefs and conditioning.

Very true not just in trading but in everyday life too...thanks to you I have been observing my everyday activities, thought process etc. etc. for example if I am fearful/angry I am trying to find the root cause and started analyzing and trying to calm down with deep breath and slow exhalation technique as suggested in this book

http://www.amazon.com/gp/product/B0198XE8SE?psc=1&redirect=true&ref_=oh_aui_d_detailpage_o00_

The trend I am noticing all these psychology books, articles etc. etc some of them related to trading and some or not related to trading the main technique to start with is this breathing technique. Still long way to go for me but atleast I think I am on right path and in right company like you and many helping experts in this forum. Thanks once again.

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  #380 (permalink)
Trading for Profit
Atlanta GA USA
 
Futures Experience: Advanced
Platform: thinkorswim/Ninja Trader
Favorite Futures: stock options; ES, TF, 6E, 6J
 
Posts: 201 since Aug 2013
Thanks: 47 given, 186 received



bmtrading9 View Post
Trader Philosophy - Context is Everything

Sent from my SAMSUNG-SM-G900A using Tapatalk

I used to trade with this guy in a room back in about 2001 or so.

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