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i realized today that on dec6, i set up 1 month of stop trading for the accident with the news while practice to do not move the stops live
i re start on 27 dic because the "20 lots RT and get the chart fee free (saving 99)", but ,finally it cost me 1200 again
i re read the journal to try to find why i went live again
it was to test the emotions live and learn the execution with the live environment
but ,why i forget the 1 month punishment?it finish on 6january!
and once i start trading live it is difficult to stop, or it is easy to go and go
but i am digging deeply in the hole
1 month ago i write " i am lost"
and what i did in this month?
almost nothing
i think i am desperately seeking "I get it", and i justify myself testing cash because i say myself "everybody say the real test is live"
but it is costing me higher tuitions fees
the last thing was the test with cash with 2lots with 20ticks sloss? crazy, i want to recover, but i know this pattern, is a killer aganst me
maybe a wide stop loss is less painfull ,than get stopped quick and say you wrong,brrrrr
pattern behaviors:
1 i want to be right
2- i move the stops
3-i start testing in sim the 5sl/4tt and i m not finish (i am thinking i need to test in cash)
4-i start to test cash but, without dom/jigsaw, and out of plan, then is not really usefull, is like i want to try to show me, i can make it in this way, different from the plan,
5i lost 2400 from the this account of 5000 that i was funded to test 3lots strategy , then i have 2600 only for 1 lot in ts, and it not was usefull the practice
6 i continue reading threads , looking for something to help me with the entries /setups, why i start doing this?
because i am not trust in my job
the times go on , and is like walking in a circle
1 i remember that, when the things looking better and i feel i was walking ahead was when i say:
2 i stop looking for anything new
3 i decide to trade a simple setups reading dom fading ranges
4 i try to repeat the plan every day
5 journaling
what happens?
it looks like when i could not repeat in live the 3lot strategy everything it breaks
i could not recover from there
i not finished the sim test, because i feel that does not work, but how can know if i do not finish?
then i jump to test emotions, lose money, reading more things, and then this is a way to stop
i find 3 things:
1- i stop to using the thermometers (frustration and overconfidence)and it would be help to avoid the behavior take a killer with 2lot swing trade open
2-as i have a doubt about what is easier/better for me daytrading or swing trading it is dificult to me say"i do not let an open trade", because i want to try and test", but when i analyse my trades, they show me that it hurt me more than help me, then it is smart to say not let an open trade
3-i find the matrix from @Bacon very usefull and right now i am going back to reread the journal and try to fill it, and i start using tomorrow as a daily tool to my trading
i remember a thought i have when i take the 2lot swing opentrade :"i stop trading, and need to read the elusive...PA thread, but meanwhilke i can have an open trade swing or position, maybe, this is a bottom and could go high for severals weeks,...."to show that maybe holding a contract could be very much better than intend daytrade, (i remember what could happen if i bought and do nothing...i know stupid thoughts, )but more and more i am thinking what i am doing,if i am so bad at this
actions:
re read journal and fill the bacon matrix
finish the 100 trades sim 5sl/4tt
question:
is i lost because cash issue, to solve them i need to do it in cash?
yes, but to test that i need to trust in something, then finish sim test
La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Hi Alejo, this is just my 2c thoughts in reply to your latest post here. My ideas may not make good sense. As I'm currently undergoing my own "try a new method" phase because my old methods stopped working or got too hard to maintain with the noise in the market.
) if you are using 5k cash, it's best to stick to micro lots or forex. The general "rule" is to use 1 contract per 10k. or minimum 7.5k. So to do 2lot trading should start out with 20k.
)if your account went from 5k to 2.5k I heard a suggestion from a trading coach is to stay in sim only and out of live trading for 3 months then start over at 5k (can be scaled to larger accounts). That way one only loses 40 to 50% of an account every 3 months in the worst possible case.
)i would highly suggest finding or making up a trading system that has initial target of 7 ticks or more. a 3tick sl is just way too small for a 1 to 4 tick gain. imo, there's just too much noise in the smallest time frames for the lowest time frame scalping these days. It's actually worse imo than just 4 years ago. In 2009, HFT made big inroads and all these sever farms,and co-location really started their invasion. Now in the beginning of 2014, it's just gotten worse for the retail trader. So there's bound to be a lot of front-running at the small tick level. there had been recent news where now HFT firms were "caught" putting co-located severs outside of Washington DC offices which report gov't statistics and economic numbers, to catch gov't news and relay their orders back to the exchanges.
1. We accumulate information--buying books, going to seminars and researching.
2. We begin to trade with our 'new' knowledge.
3. We consistently 'donate' and then realize we may need more knowledge or information.
4. …
Hi Alejo, you're welcome. I can't be sure, I can only guess you are at 18 to 23 or so. But rest assured, I believe you will get to 33 at some point as I can see you keep striving and have access to ideas and help here. Also often I think many go in "recurring cycles" in the rules. For example I felt like I was at 33 for a while , making money consistently for months, then fell all the way back to 18 and feel like 14 again. Then gradually getting up there again. then getting humbled again and falling back down. Also I don't believe in rule 22 completely. Methodologies can fail after a limited life. With the markets changing year to year, changing technologies, changes in market participants, many methods are rendered useless. Then a responsibility of the trader is to continue to have a "repertoire" of multiple methods so when one fails another picks up and hopefully continues to work.
it is incredible, how many times i try to recover with the hope of a nice swing trade???!!
unless now i am put a written rule on my plan"Never let a trade open"
i think i was using as a excuse the confusing to mix 2 different things togheter, daytrade and swingtrade, maybe i can practice swingtrade , but this is other thing, now i am practicing daytrade, and use that for my hope and revenge feeling
if i want to practice swing trading, do it in other account, in other stage, not add confuse, pain here
La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
@alejo, we all have been there, don't beat yourself. I certainly was. Just find out why you are doing it, look for the root of the problem, trying to win it back with one trade is just a result of the problem, not the root of it.