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that is the same issue I have as well, which is why I dont keep multiple charts open, is not like I pay attention to them.. one chart is all I need I would say which is why I am trying adding a second invisible price and then a MA that changes color depending on U/D and minimizing the panel, ideally I would think one would want to color the background based on the HTF trend, that way one is always reminded as to the trend direction and that way one knows when to scalp a counter trade ...
Az, I've read your journal from the beginning to this point and I would like to thank you for your detailed analysis of your psychology and your trades. In fact when I've started to trade I was very undercapitalised. I've started with just 2000$. I've increased my account to 3000$ and then burned my account to 600$, but somehow I managed to come back to 2000$. Right now I trade with 1300$. I face the same problems as you did. I believe in my strategy and I know it works, but psychology and not going with your rules always causes some problems.
I've been gone for a couple of days. Not from trading just posting. Had a lot personally to do after trading so I skipped the posts. However, yesterday was a net loss day, only because of stupid trading. For the last 4 days though including today, I am averaging about 25 ticks a day. The goal is to average 30 ticks a day and then move to 2 contracts when I can do that every day for a week.
My entries have been pretty good, although today PA set up a perfect short, I passed because I refused to believe it could look so good!. Then had another opportunity to get short again, I did and chickened out....even though my game plan for the sequence was playing out to the letter. I took three shorts instead of the one the plan called for. I made the money but did so very inefficiently. Then I traded very cautiously through the transition period, net zero gain there, then the PA set up a long, which resulted in a 10 & 20 tick winner and another 10 tick winner.
I made a total of 62 ticks today. But I was very unhappy with the way they were made. To many trades to arrive at that total. I think it was 13 trades when it should have been 6.
That being said, any green day is good...
Cheers
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Uh......its been a long time since I was anyone's hero. And 62 ticks does not a hero make.....60 days in a row of meeting my daily goal would make me a hero to the one that counts.....my wonderful and long suffering wife! Now thats a goal I can believe in!
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Bad news out of the gate. A BEAUTIFUL short set up right after the opening today. I was slightly late due to fixing a cup of tea for my house guest and so took a re-entry. I entered a sell stop, was filled and realized I could move my stop much closer. I moved it but noticed something wrong. I had entered a BUY limit instead and of course the perfect short ended up being a stop out. Why did it stop, because I was moving the profit target down instead of the stop and did not notice until too late my "profit target" which was really a stop was about to be hit. By the time I noticed, it was stopped out.
I then pulled the old trick of getting down on myself......FFFFFFFFFFFFFFFF is what I wanted to say. I then had 7 more losers in a row. I should not have traded in that frame of mind. I was disgusted with myself for making a stupid mistake.
I stopped when I had given back yesterday's gains. 62 ticks gone due to stupidity. A bit later after I had gotten control of my self, I stepped back in cautiously and was able to gain back all but 13 ticks. Still finished down but was able to dig back out of the hole for the most part.
Onward and upward....
Cheers
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Sorry to hear about the losing trade. But, I'd like to submit to you that you were late not because of your house guest, but because you entered the trade late. It's a constant 'battle' to take ownership. I also used to use a lot of self-deprecating humor, like "hey, if you want to make some money, go long when I go short" and that kind of stuff. You have to eliminate such behavior and thoughts. 1) Take responsibility, 2) Think good thoughts and set things up in a positive fashion
