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Thought I would post a 5M chart from yesterday, its a study in conflict and patience. Of course I didn't look at it even once yesterday, but thought it might be nice to take a look today.
Two trades on it for me, one I could have taken and the second one no chance. Both valid but the second one was way to much risk for me. Overall, 100 ticks available if you were willing to take them both.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
thanks for the detailed reply. I was not trying to school you. I was just offering my 2cents. Maybe I just mis read your reply. The words you wrote in CAPS had me thinking you were yelling at me.
Enjoy the rest of your weekend.
Oh yeah... I read your trading plan today. I did not know you were an Arizona Guy! thats great! I love the west coast. Lord willing I will be back to Nevada in a couple of years.
What are you learning to let go?
If you always do what you have always done you will always get what you have always gotten.
Celebrate because you executed your edge. Not because you won.
I know you're not schooling me. The caps are for emphasis only. The trading plan, which one, there's been so many, none of them followed for the most part. My current trading plan is written on a 3x5 card and my money management plan is basically in my head although I took some steps toward a more formal one this morning. Does this make me a bad trader?
I'm learning to let go of the things that cause me stress....like rules, the need to be right, of not wanting to lose, of impatience, rigidity, formality, over thinking, etc.....these are all things that cause me stress and I'm learning day by day to let go....I'm tired of embracing these kind of emotions and ways of thinking. Instead, I want to go with the flow, be flexible, let it work itself out, embrace the probabilities of life and trading. Live easier......
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
In the end... Trading is not about making money. It is just a natural by - product of learning to let go of the things that cause me stress....like rules, the need to be right, of not wanting to lose, of impatience, rigidity, formality, over thinking, etc..... (copied and pasted your words because I could not have said it better myself)
I will never find perfection in this area however I am getting better at it. Personally I have done it through prayer time, quiet time, excercize, and eating more greens.
You need to take some time to quiet your mind. Think about where you were a year ago and the strides you have made. Celebrate those accomplishments.
If you always do what you have always done you will always get what you have always gotten.
Celebrate because you executed your edge. Not because you won.
Seriously though, you mentioned the nutri bullet in your thread. How do you like that thing? I'm thinking of giving it to my family as a Christmas present.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
I have a different opinion on this. Price action is conditioned by the fear and greed of the participants which materialises in recognisable pattern. What you want to develop over time as you gain experience is a set of heuristic rules to help you navigate within this dangerous and chaotic landscape. Unlike algorithms, heuristic rules do not guarantee optimal, or even feasible solutions and are often used with no theoretical guarantee.
Heuristic rules are good when:
-you have to make a spur-of-the-moment decision OR
-you have limited information and cannot obtain more OR
-the decision is not that important in the grand scheme of things.
A heuristic rule is about decision making or trying to make a good decision based upon what little information is available right now.
As a trader the objective is to develop our own set of heuristic rules. This will be your greatest achievement. When you come to a point where you think there is no rule that can contain price action then it is because you have become unaware of all the rules of thumb that are at play in your head. Most people will just say, that is the experience gained over the years that makes me a profitable trader
I have been drinking them for about a month now.
The plumbing is flowing much better and I have more energy.
Great product! It is everything they say it is.
Very Easy to clean.
It is fun to concoct different drinks.
We Typically use frozen fruit along with Kayle or Spinich. Napolea cactus Juice, Carats, Coconut milk, bananas, water, ice.
I feel great!
Well Today I did not feel it. Maybe because I have not mixed myself one for the past 2 days. That is generally when I really notice a difference. When I have not had one for a couple of days.
If you always do what you have always done you will always get what you have always gotten.
Celebrate because you executed your edge. Not because you won.
Been super busy away from trading. Lesson this last week. Don't trade seriously if you are distracted. I goofed around this last week while really focusing on another project. No winning days was the result. Fortunately, it was all small ball so no real damage done. But still the lesson is quite clear, focus on trading or don't trade.
Next week, I am blanking out the other project for about an hour a day, probably 5:30 or 6:00 my time for around an hour and then the trading platform is going to be turned off. My goals for next week are to simply be profitable. Looking for around 20-40 ticks average if possible in as few trades as possible.
I expect this project to last at least through December and possibly early January. Until then, I expect this schedule to continue.
Cheers.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Roger that. Lost big time yesterday (Friday afternoon) in a trade while running errands, took the rest of the trading week to gain half of it back
Edited to add: I thought losing that big was no longer a possibility. Considering printing the chart with the trade in sections large enough to cover the wall behind my trading desk as a permanent fixture.