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Perparation:
1/ Wake up every morning 120min prior to trading hours (three alarms ready, away from the bed and the reach)
2/ Brush teeth, walk or a bike ride 30min, with a luke warm + cold shower after (waking up=getting mentally ready routine)
3/ Fruits only breakfast (easy digestion)
4/ Dress up for business trading hours (no more trading in underwear or shorts)
5/ Utilize ear plugs (no audio distractions)
6/ No slouching while trading (staying concentrated)
7/ Clean workspace (no eating at the trading desk or lounging and surfing the web during the market hours)
8/ Must Be market ready and concentrated to do business, for 4 hours 8am-12pm only!
Charts Check List:
1/ Scan Monthly and the Weekly charts every weekend
2/ Scan Weekly and Daily charts every day post prime market hours and every evening before the bed time
(find the best set ups using the current weekly development and the daily charts)
3/ Scan to confirm the set ups from the night prior (if found any)
4/ After the appropriate daily signal, move on the lower time frame and find the confluence/trigger on the 120m/30m charts
5/ Trade max 2 contracts on the AAA signals and 1 contract on AA signals
6/ Keep the risk management 8-12 cents per contract
Can you help answer these questions from other members on NexusFi?
Woke up 120m before the market hours. Turned off all three alarms.
Went back to bed and slept till 8:40am
The one and only thing i did do from the list was waking up 120min earlier.
I did see 2 buy signals on the CL before 12pm, but i had no will power to execute them.
I have no self-discipline!
Reading the material now my brother suggested a while back on self-discipline.
Meditations by Marcus Aurelius
Woke up 120m before the market hours. Turned the alarms off.
Washed face, brushed teeth, dressed up (sweat pants), no more doing business in shorts or underwear.
Did not eat any fruits, water only.
Did not go for a walk or a bike ride. (yes my fitnessness attempts in the morning needs more work)
Reassessed the daily chart and 120min. the Buyers momentum was confirmed as well as on the 30min.
And this is when the Murphy's law happened for me today. The computer froze as i was to observe an entry.
That threw me off quite a bit. As if someone just told me to stay in the basement again and do nothing.
30 min passed before i had the computer and the platform back up again.
By that time i started thinking about just taking the trade live on my little account.
($1,000 in the account only, for receiving data only)
My trading agreement was/is to utilize the OneUp evaluation to help me get over my demons in order to then either get funded with the prop firm or fund my own account properly and trade properly.
I did take the live trade. Did not see the set up but instead i was (according to my brother) "fishing" for an entry.
As oppose to just be waiting for the candle signal entry.
I had three "fishing" attempts and was stopped out twice at BE. And yes the third time was the charm.
The price did go in my favor +7 cents before i protected my entry at +1
The price then went up +9 before the volume slowed down a bit and the price came down to +4 instead.
The price then really stopped moving @ +5 for what it did seem as eternity ( 5-10 sec)
And that is when the demons kicked the door. I started thinking of taking the +5 and running off with it.
The thought was brewing in my mind. And then more thoughts of taking the +5 and running came along.
I had no will power to tell myself to simply shut up and keep the focus on the fact that the Daily chart was Bullish.
In my mind i was stuck on the fact that the price stopped moving. I could not get over it.
And that is when the fear of being wrong moved in.
So i bailed out with +5
Only to then see the price keep moving higher and higher and higher and higher.
Absolutely embarrassing. (@#%uuuuuuck^&) lol, Absolutely shit for brains!
Post market i talked to my brother and realized again, that i'm afraid of being wrong more then actually losing $
I always want to be correct. And that is not good for business in this business.
And why i lost big money before. I didn't care how much i lost, i just wanted to be right!
Lessons not learned yet. Maybe this is a start ?
I'll find out soon enough Back to the drawing board. Ready for Tuesday.
Blessed NG did go in the direction of the daily price chart suggestion.
Merry Christmas to the markets, to my family and to all the members of this beautiful forum.