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So I've been getting impatient with these trades here. I have a few times where the $$$ have seemes quite high and I felt like I just left money on the table. Only to watch it come back and worse have to take a few loses to control risk there.
But I did not cut or get stupid so that is progress.
2 stars for not being a complete shit throwing monkey.
Well after just a few hours after posting my PATIENCE post it has proven to be profitable.
After days of frustrating meandering, adding and removing contracts to limit risk, I finally got the push I was waiting for.
This is just one set of trades. The march continues on but this was plain old good trading as I just stuck to the plan and made only a few impulsive adds. Still managing this trade.
Work on finding out WHY I added impulsively and address that! (It's probably because I falsely believed it was my only chance to enter before it rocketed away without me = false beliefs. Maybe it will maybe it won't but this is NOT a good place to enter regardless)
Also explaining my feelings and what to do about them on here in real time gives me the responsibility to do what I just wrote. And that's at least somewhat of an accountability.
Holy crap! You did it! You are $20 figgin dollars away from where you were before you added 5X more than was in the account to begin with... prompting you to loose %20 in a week! More than was in the account to begin with!!!
You made it back with less capital (than from the peak) and far less risk then EVER BEFORE.
That is so important!
You don't need to be a gun slinger. SAVE THOSE BULLETS for strategic adds.
Again... pictures worth a thousand words...Before I added to my account I was flat to very very slightly up for weeks and months at time but I was playing very close to margin sometimes for what I was trying to do.
I am ALWAYS adding just enough to trade with a small cushion. This can be counterproductive at times.
And scaling in the day and being forced out of positions by end of day even if you want to let it run a bit has caused forced losses due to me being undercapitalized.
I added more more than enough to trade the way I would like and risk as little as possible.
Then I immediately went into shit throwing monkey mode with all the contracts I could buy and slowly, then not so slowly I just slipped, tilted, revenge traded, added just cause I was pissed!
Then I stopped. Regrouped. And went back to the original plan.
Practice patience, discipline, don't chase the market, don't panic out, scale in properly, don't exit too early... Ect. Ect.
And most importantly I think I started to write in my journal what I was/am going to do and then I could stick to it and also work through my issues.
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Just found your journal the other day...looking forward to following along. I like your style of adding and subtracting to longer trades as the market warrants while still keeping in the game. And a great day today...not bad for a Langley boy.... I'm actually just across the river in Maple Ridge soooo we can have a little friendly neighborhood rivalry aimed at keeping us on our A game...
Hope you are enjoying your evening after a good day by taking the night off to refresh. See you out there tomorrow.
Craig
Until you make the Unconscious conscious, it will direct your life and you will call it Fate...
!
. I'm actually just across the river in Maple Ridge soooo we can have a little friendly neighborhood rivalry aimed at keeping us on our A game...