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Mindful and Day Trading


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Mindful and Day Trading

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  #11 (permalink)
 zmaj 
Ojai, USA
 
Experience: Advanced
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xplorer View Post
Thanks zmaj - expectancy should be measured in ticks or currency - are you perhaps thinking win % rate?

Yes, positive % rate
I don't measure it in ticks or currency since the size of each candle is different
The set up is the same though. And ticks or currency to me is the byproduct of a good set up

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  #12 (permalink)
 zmaj 
Ojai, USA
 
Experience: Advanced
Platform: Abdominal Plank
Trading: Energy
 
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Posts: 768 since Jan 2016
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I was observing CL, ES and 6B.
My set up showed up once on all three instruments before 11am.
I did not execute. Mind started wondering places and i missed an entry, all three times.

On the first one, i let the fear slip past the mind gate and i did not take the trade.
On the 2nd one, i was on the phone with my brother and my laziness found an excuse not to take the trade.
On the 3rd one, i was thinking about the first two missed opportunities and was mind bashing myself. And did not take the trade.
3 for 3

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  #13 (permalink)
 zmaj 
Ojai, USA
 
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Can i be in the market place without using fear to limit my behavior?
The reason i fear the market is because i'm not able to trust myself.
Yet, in many other endeavors i feel that i fully trust and understand myself.

I understand about two types of pain: 1. physical pain 2. emotional pain (information based)
I grew up learning in a very painful ways what it means to be wrong.
And have experienced the pain on both counts.
A losing trade taps me into the past. Into every time that i have been wrong in my life.
Fear then narrows my attention span and i end up creating the very same experience in the market place that i am attempting so desperately to avoid.
Therefore every trading attempt ends up being more then just about trading.
It ends up being about my life and my beliefs.

I refuse to continue doing this. Living my life as this. This is not me anymore. I'm ready to move on forward with my life.
I intend to stop projecting my fears into the market place.
I am accepting and embracing the risk of trading in the market place.
I am predefining the risk of every trade,
I accept the risk and I will continually reconcile the reality of the market place,
I am embracing and accepting the risk the risk of trading in the market place.

I accept and embrace being wrong
I accept and embrace losing money
I accept and embrace leaving money on the table
I accept and embrace missing out on a trade

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  #14 (permalink)
 zmaj 
Ojai, USA
 
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Was observing YM and CL.
Fought the trend day, and was questioning and not taking my signals that i should have.
Also i did not prepare yesterday. I did not do my homework.
8 trades today / 8 trades too many
The positive today is that i stopped executing myself into a deeper hole.
(Internet connection was bad today. Ninja platform kept disconnecting.)

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  #15 (permalink)
 zmaj 
Ojai, USA
 
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Observing the CL and ES.
2 sell signals today, did take both signals, my follow through was not good.

CL entry was very good. I was very collected. I did notice the fear motion creeping in the background of my mind.
Fear made me move the 1st target closer to my entry even though the first target was reached regardless.
Price stopped me out on a pullback. I should have placed my protective stop loss a bit closer to my entry.
But i became scared for no apparent reason, became my own worst enemy. didn't trust myself.
CL price continued lower.

ES entry short was very good. I was calm. A few seconds later fear motion also moved in and took over.
First target was reached. And i never gave price a chance, i covered the 2nd contract right away.
Became my own worst enemy. Didn't trust myself.
ES price continued lower.

I will take what the market gave me today and will be learning from it.

I really must follow my rules. it is the only way for me to learn to trust myself
I really must follow my rules. it is the only way for me to learn to trust myself
I really must follow my rules. it is the only way for me to learn to trust myself
I really must follow my rules. it is the only way for me to learn to trust myself
I really must follow my rules. it is the only way for me to learn to trust myself
I really must follow my rules. it is the only way for me to learn to trust myself
I really must follow my rules. it is the only way for me to learn to trust myself
I really must follow my rules. it is the only way for me to learn to trust myself
I really must follow my rules. it is the only way for me to learn to trust myself
I really must follow my rules. it is the only way for me to learn to trust myself

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  #16 (permalink)
 Grantx 
Legendary no drama Llama
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Care to post a few charts? Are you still using harmonic patterns?

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  #17 (permalink)
 zmaj 
Ojai, USA
 
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Grantx View Post
Care to post a few charts? Are you still using harmonic patterns?

Yes, the harmonics patterns i still use. I will post the charts later later later.
I must get my head around my psychology first.

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  #18 (permalink)
 zmaj 
Ojai, USA
 
Experience: Advanced
Platform: Abdominal Plank
Trading: Energy
 
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Posts: 768 since Jan 2016
Thanks: 457 given, 1,069 received

Was observing the CL and ES.
Right away, the ES signal to buy happened that i didn't take.
I was upset for not taking it. And i made a conscious effort to focus and play my game.

CL had good sell signals right before the OPEN. I did take them.
It was a fight today. The CL chopped around a bit. The price did go down and by then i already had more then 10 trades.
I decided to call it a day after the last trade once i made back the negative.
I also think that was just an excuse that i told myself since there was another divergence sell signal @ 62.46 that i didn't take.
That ended up being the best move down. The one that i initially thought was going go happen earlier.

I must stop feeding myself expectations. The market has no structure unless i create that structure.
The market only has unlimited possibilities.
I also did use an old breathing technique that my brother suggested. 4 sec. inhale / 6 sec. exhale
It helped me calm down in the middle of the struggle. It worked very well.

A scratch day today 11 trades all together.
The trade summary is not showing the results of my last trade but my account is.

The best positive of today to take with me is:
Once i made up my mind to engage with the CL, I did follow my campaign rules of engagement. A very proud moment for me.
Because of that my transition from an analyst to a proper trader, i think, has officially started today!

I must keep following my rules. it is the only way for me to learn to trust myself.

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  #19 (permalink)
farmer55
Minneapolis+ MN / USA
 
 
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I'm sorry but I have to reply. Your problem is not mental or trusting yourself(what ever that means). The one and only one problem you have is: You really do not have a profitable way of trading. So be honest. If what ever way you were trading was truly profitable, the only thing you would be doing is--- see trade, take trade. All that other stuff is garbage. Harsh? Maybe.

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  #20 (permalink)
 zmaj 
Ojai, USA
 
Experience: Advanced
Platform: Abdominal Plank
Trading: Energy
 
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Posts: 768 since Jan 2016
Thanks: 457 given, 1,069 received



farmer55 View Post
I'm sorry but I have to reply. Your problem is not mental or trusting yourself(what ever that means). The one and only one problem you have is: You really do not have a profitable way of trading. So be honest. If what ever way you were trading was truly profitable, the only thing you would be doing is--- see trade, take trade. All that other stuff is garbage. Harsh? Maybe.


ok, thank you!

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