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Tuesday, October 12th, 2021
Jolts today, no big whup.
Weekly Up, Daily down, Open inside yesterday's range. Not really sure what to expect today, either push back up or more selling, feeling unsure.
1 trade + 5 points.
Really crappy entry - bought a higher low / re-test of the push-down. We then chopped for the whole morning session. I got anxious and got out early at 5 points. Very poor entry and exit today.
“It’s the kids with no umbrellas who will run fastest in the rain“ – Taiwanese proverb image_2021_10_12T16_08_51_583Z
Can you help answer these questions from other members on NexusFi?
Becoming overly identified with the result of a trade is my greatest weakness.
It has caused me a lot of trouble in the past. It's generated a lot of bad habits like pull the stop, or adding to a loser. I have just recently become aware of the reason for the bad habits and I hope I can do better.
It doesn't matter where this trade goes. I have to relax and if it goes against me just wait patiently for the next trade.
Wednesday, October 13th, 2021
News today FOMC minutes 1:00 PM
Weekly Up, Daily down, Open inside yesterday's range. Not really sure what to expect today but the energy is still down.
2 trades + 6.5 points.
Tried to buy yesterday's low and got out BE. Turned out to be the right decision. wasn't hard to make because the last move down was very steep. Trade 2 was at a pre-market pivot. I was trying to hold for more but I was watching NQ and RTY and they struggled at that area as well. Got out with some profit. It popped up quite a bit later but I am ok with my decision.
"An amateur has the same attitude toward trading as an alcoholic has toward drinking. He sets out to have a good time, but winds up destroying himself."
Alexander Elder. Trading for a Living
Thursday, October 14th, 2021
News: - PPI was bullish
Weekly Up, Daily turning up, 40 point gap up today, very bullish I am going to be very careful if I am short.
1 Trade BE
I shorted a weekly range band and got out quickly when there was no follow-through. The rest of the session was the slow grind of robotic accumulation and I stayed clear.
"They overreact to situations and fuel them with high and intense emotion. Whenever they perceive something is wrong, they have a tendency to start worrying about what might happen and then get things completely out of perspective. This frequently leads to terrible feelings of gloom and doom and stomach-churning moments. These moments are often linked to black-and-white thinking, which means you are left with a feeling that there is no way out or there can be no recovering from."
Peters, Prof Steve . The Chimp Paradox (pp. 23-24).
Tuesday, Oct 19, 2021
No Scheduled Financial Data Releases.
Weekly Up, Daily turning up. Long bias.
Sleep: 8 hrs
No Trades today
17 point gap up to an interesting level for me but the continued bullishness made me decide not to short that area. Was a good move. I saved a stop out. Chop then slow grind up - no opportunity for me.
"In investing what is comfortable is rarely profitable."
Slow grind. Got bored. Went to the gym. Missed a trade.
I am going to be extra careful today to not push a trade. I have not had any entries in 2 days and missed a trade yesterday. That can cause me to be anxious or chase a trade... Deep Breath!
Thursday, Oct 21, 2021
News: unemployment claims and philly fed gave us a slight bullish bump.
Weekly Up, Daily up and very bullish. I am expecting to challange the prior high area and consolidate.
Sleep: 8 hrs
1 trade today + 7.5 points
Shorted yesterday's high and held for the open area.
"A peak performance trader is totally committed to being the best and doing whatever it takes to be the best. He feels totally responsible for whatever happens and thus can learn from mistakes. These people typically have a working business plan for trading because they treat trading as a business."
Van K. Tharp
Been a slow grind of a week and didn't have a lot of swing opportunities. More of a buy-and-hold week and I was very surprised by it. I should have stayed at my computer yesterday but was fairly certain nothing was happening. Oh well. I will try it again next week.
I'm frustrated by today and the slow week but I took my stop and moved on. In the past, I would have held on to that loser and or added at a lower price. Works great until you end up with a one-way day and lose way too much. I m trying to show more discipline and control my emotions. I am getting better at that but have more room to grow there.
