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Even after doing good this month I am feeling bad because I couldn't maximize my profits on my trades to cover shitty days but at-least I am green this month. Today didn't trade much just closed that oil short after taking heat in the morning but again didn't maximize it because I couldn't watch this market. I didn't dare to take any other trade because I don't want to give up profits
Except that one day, i did good in controlling myself. I clearly remember the agony of that day, I fought that uptrend like a mad dog and finally give up by put a stop order and that stop order is still the highest tick on YM. After stopping me out on 2 contracts on YM, market dropped like rock.
1. Was able to minimize the losses (except that day, at the end I am still right in my thinking but loss was huge)
2. Not able to trade some levels as I wish due to work commitment etc etc
3. Was not able to maximize by being in the trades (Of course hindsight analysis)
4. Still suffering with that CONFIRMATION syndrome
5. Still taking multiple trades just need to get in one trade and ride along the wave is key. Talking about multi-day swing (I guess only way to do is etf's not futures)
Main goal atleast for this week is
Place limit orders and stops as per method and let market prove me wrong.
Thanks everyone it's a never ending journey, my thinking right now is maybe the end is near or maybe I am still dreaming
Had to wake up middle of night saw only one potential trade on CL so took short QM at 45.50 with one point stop, as usual I was early but not wrong so held on to it, shouldaaa couldaaa wouldaaa added to it but hey when did I do it right so didn't added it but glad it did worked out in my favor.
I am looking at daily chart and thinking of 43 target but don't know so I might take it out at ADR_L or 44
Edit: This struggle of protecting profits or hold on to the trade longer continues so I close my short of QM from 45.50 at 44.85 for 65 ticks.
I am sick and tired of my inability to stick for longer trades (or atleast hold on to my targets...can't fix a moron. I shouldaaa re-entered nothing indicated that I am wrong.
Bizarre isn't it. I have now reached a stage where I enter well enough to get most of my trades down to neglible stops and I still can't leave the buggers alone. I share your frustration, but no morons are involved - just human tripartite neural conglomerate structures that got trained for everything that isn't trading, and it's hard work undoing it.
Put a limit buy to open on YM at support 17468 (I know it's counter trend but it's hard pass this level, let's see if we get there). As per my charts Oil should found resistance at 44.55 and 45.50, if it oscillates around 44, I have to buy it for short term because seasonality favors long on oil.
I totally agree sir, we have to re-wire some of the deepest/complex wiring in our brains to be able to properly think and act in this trading business. If you see my previous posts, I keep on telling this is my level that is my level like the talking heads on TV but never able to capitalize fully but I am glad that at-least I am controlling my losses to minimum but still long way to go. I am determined to go as long as it takes