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Zen & the Art of The Small Account
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Zen & the Art of The Small Account

  #251 (permalink)
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I have to admit, when Big Mike said if I couldn't keep my two trade rule today, I was a little put off. Then Laserdan chimed in with an all caps "AGREED". Like he was shouting at me. Truthfully, that one pissed me off. I had the ignore Laserdan option selected and about to click it when I decided even if I thought he was a little rude about, he was still right. So I stood down on that action.

Then today, on my first post Laserdan basically called me a liar since I didn't have a chart up yet to back up what I had said. So I posted a chart to prove it. Mostly because I was mad.

A couple of hours have gone by now and I'm calmed down. And after looking at the chart which I marked in real time, I decided that after the first two mistakes, I basically called and executed the game plan pretty well.

I missed a transition late in the morning, but thats ok, by then I had most of the trades right and that mistake made me only 20 ticks instead of the 100 or so I was looking for.

I have to pick up my daughter from school now so this is it for the trade narration.

The chart is really messy because that is how it looks as I mark it up. Normally I delete things as I go but today I left it on so you can see what my trading day looks like.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #252 (permalink)
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One last thing

@ZTR is trying to beat me in the Thanks department. He has a thanks request in his thread and I don't. So here is my formal request.

If you like this thread and have not clicked the thanks button, please go back and click thanks for every post you like....including @ZTR. I click most of his posts as well.......actually I am trying to thank him more than he thanks me...that is my contest......

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #253 (permalink)
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@aztrader9, I wasn't aiming that at you intentionally, I was just speaking in general. If a trader sets a rule, then breaks it the next day, there is a problem. And fact is, this happens the majority of time but the trader always finds an excuse, and then short term memory kicks in and it's like it never happened.

I think moving to three trades tomorrow is a good plan. I would probably stay at this level for a few days, making sure that those three trades are well executed before increasing it again. Eventually, the focus will become less about some arbitrary number of trades, and more about how those trades were executed. But in the short term, placing a small cap on the number of trades helps focus your attention on their execution.

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  #254 (permalink)
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Big Mike View Post
@aztrader9, I wasn't aiming that at you intentionally, I was just speaking in general. If a trader sets a rule, then breaks it the next day, there is a problem. And fact is, this happens the majority of time but the trader always finds an excuse, and then short term memory kicks in and it's like it never happened.

I think moving to three trades tomorrow is a good plan. I would probably stay at this level for a few days, making sure that those three trades are well executed before increasing it again. Eventually, the focus will become less about some arbitrary number of trades, and more about how those trades were executed. But in the short term, placing a small cap on the number of trades helps focus your attention on their execution.

Mike

I know you weren't but since it was true, it felt personal......no offense taken....when you're right, you're right......

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #255 (permalink)
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After reading my posts, you were right to be angry with me. I did shout at you and probably did come across as calling you a liar. I do apologize. Sincerely apologize.

Now on to better things. Great job today on sticking to your rule of just 2 trades. I enjoy reading this thread and will continue to do so. I wont comment in the negative anymore, only positive vibes comin your way!

Laserdan
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  #256 (permalink)
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Laserdan View Post
After reading my posts, you were right to be angry with me. I did shout at you and probably did come across as calling you a liar. I do apologize. Sincerely apologize.

Now on to better things. Great job today on sticking to your rule of just 2 trades. I enjoy reading this thread and will continue to do so. I wont comment in the negative anymore, only positive vibes comin your way!

Laserdan,

It's ok to point out the negative without being negative. No harm no foul.....you were right.

Thanks for reading the thread.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
 
  #257 (permalink)
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Three trades today

Three trades: 2 winners and one very poorly executed and managed loser. I knew when I hit the buy button it was a bad trade. I mean it looked good when I clicked but the action of clicking made me change my mind. I should have just clicked out, but I let it hit the stop. Oh well....

I failed miserably at execution on the two winners, both entries were late and I failed to hold them to my intended target. My target was marked ahead of time, I called them both to my trading buddy, he agreed with me and yet I punched out to soon. However, I am not to upset about this. The trades were easy with pretty tight stops, no heat on them to speak of and the only reason I punched out early was I did not want to waste my three trades today on winners that turned to losers. Really stupid reason to punch out I know....Tomorrow I will do better on this....besides, I have four trades tomorrow.....I am excited about that.

The chart is less messy than yesterday but still a bit chaotic. I am trading my method and at the same time, highlighting a a pattern I see all the time and how it might play out within my over all bigger picture.

I feel like a major weight has been lifted off my shoulders this last couple of days. I've always known I would end up as a fib trader, I just needed that light bulb moment to really get me in the groove of how to really trade it. Today, it was almost like I knew in advance what would happen. I know it sounds crazy but the entry points and exit points were like beacons in the night to me today.....my only real point of disappointment was my trading buddy saw the entry point at 72.70 for a long before I did and posted it in the skype window. I asked him what that was for.....he said long entry, hold til HOD......and he was right.......110 ticks.....and I missed it...oh well......

I am looking forward to tomorrow.....cant wait to see what four trades produces.

I will be looking at the last 30 days of charts today to see if I can recognize a pattern that seems to show up every day these last couple of weeks.

If next week goes well, I will work on a "how my method works" post. That one will take several days to create, edit and explain. But it will be good for me as well as anyone else that is interested.

Cheers......

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #258 (permalink)
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Writing Checks Today

Call it what you will; karma, faith, visualization, etc.....I believe in the power of the mind and the creative force of our thoughts and words.

Jim Carey is famous for having written himself a twenty million dollar check when he was still a struggling actor/comedian. If it works for him.....

So, I wrote checks today to all my creditors.....I got tired of writing the word "thousand" after the third or fourth one!....

Those checks are signed, dated and placed just out of sight for safe keeping. One day soon, those checks will be mailed.

When they are mailed, I will post it here in the journal.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #259 (permalink)
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Great Thread Aztrader , I have been following your journey since the beginning and I really feel your pain , I am a small account trader myself and I still can't figure it out yet , it will come I know , when we least expect it ..
Good luck and have faith
soumi

"Risk more than others think safe.
Dream more than others think practical.
Expect more than others think possible.
Care more than others think wise"
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  #260 (permalink)
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soumi71 View Post
Great Thread Aztrader , I have been following your journey since the beginning and I really feel your pain , I am a small account trader myself and I still can't figure it out yet , it will come I know , when we least expect it ..
Good luck and have faith
soumi

I think its less about figuring "it" out and more about figuring us out. And then just trading something we believe in. I know I am still on the figuring me out journey!....

Thanks for posting and don't be a stranger.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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