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I started the day with a mental rehearsal exercise for not getting impressed by a large candle and jump on it without a good setup. The alternative behavior that I visualized is being relaxed and just see it, be patient and wait for a good setup when the price retrace.
It is getting dull, but I keep on focussing Be Patient and let the trade come to me
My BigPicture for today:
Happy Trading today and trade with grace, ease and joy!
I failed today in being patient enough and let the trade come to me.
5 trades this morning, bullets all used and -0,51R
So the damage is little, but I need to reset myself and be more focused.
I made avoidable mistakes with on of my setups: the spike trades. I traded them without a clear trend.
Sorry to hear the bad news.
Here's hoping for a complete recovery!
(I remember once having a bite that had the bull's eye telltale marking. I went in for penicillin armed with knowledge from the net (must take a certain type in within 3 days- and at first the Dr tried to pooh-pooh it , but I INSISTED. Glad I did and never got it .)
Thanks for you concern, but I am fine again. I detected it in a very early stage and did what could be done. Let's cross fingers that will be no related issues in the future.
I didn't pass my self-analyzes check this morning. Now I did
This is my BigPicture for this afternoon:
My procesfocus for today:
Be Patient and trade the Spike-setups when there is at least a trend on 2 min chart
Since the DAX is often correlated with the US Market I am going to check those market several time (and perhaps in the future trade them). This is how I check it:
Happy Trading for you all with Grace, Ease and Joy
This afternoon I took 1 trade which was around BE.
Today was not the best day to trade the DAX in the afternoon: 16:00 New Home Sales, 17:00 Crude inventory, 20:00 Yellen.
I was patient today and at 18:00 I decided to look again to the charts around 20:00.
This evening I took 4 trades. One was a bad one and a traders mistake which cost me -1R. I corrected myself and closed the day with +2,7R.
Since it is late, I will do the debriefing tomorrow.
This morning I didn't pass my Self Analysis check:
I am a little tired and I am not feeling ok about not have done my Debriefings the last 2 days even though my proces focus was discipline.
I find it hard to act on this and I a previous insight learned me that it comes from my belief regarding working ethic and shrugging my sleeves even though I am a little tired.
This is works fine for regular things to do, but not for live trading.
Chris, my trading mentor, often told us:
Trading is Top Sport. Would the coach of Ronaldo let him play a footbal game when he isn't fit? NO
So, why do I put myself on the field for the trading game when I am not perfectly fit?
Knowing this and not act on this is a sign of not really knowing.
Yesterday I started my trading session also a little tired and with a small headache. Result: 4 trades, bullets all used and -3,75R.
Looking back I see several ways I did behave with lack of discipline.
It manifested by taking trades that didn't meet my rules, decide to take a break and go over my charts before starting trading again and not do that after the break, being impatient, not doing my debriefing and trade a 2nd trade session (5 trades, +1,09R).
All are examples of lack of discipline for me.
Discipline is a loaded word for me. It makes things much more heavy than necessary, so I will need to find a way to let it be more light, keep it small and just do what I need to do with joy.
I think I got the best advice yesterday from Mimi, a trading buddy of mine:
JUST DO IT
Being not fit the last few day come from going to sleep to late and getting up early, but also from not doing exercises to be in a good physical condition.
Being in a good condition protects us against the stress of trading (quote from Van Tharp's Peak Performance Course part 2 - How to control stress, chapter 8).
I am going through this Course together with one of my trading buddies Bahara and chapter 8 was the chapter we were working on. Coincidence doesn't exist
In this chapter there was a great example of a routine that a world champion used to improve his performance:
'First he played tennis with a old pro who ran him ragged. Next he went to a gym where he punched a 300 lb. bag, lifted weights, jumped rope, and then rode an exercise bicycle until he was ready to drop. When his routine at the gym was finished, he went to the swimming pool. At the pool, he started to swim laps underwater to build his lung capacity. At that point, he was ready to practice his particular sport.
Who do you think this champion was? What was his sport?
It was chess, and it was Bobby Fisher's routine
The sentence 'Physical exercise may be the best way to improve your overall performance. It has a powerful effect that will show up very rapidly. It is inexpensive and generally safe. You just have to do it'
So:
JUST DO IT
..... and I will start jumping on the trampoline again 5 days a week for at least 15 minutes starting today
In summary:
- No live trading when I don't feel fit. There are a lot of other things related to trading I can do which will help me in the future
- Do my debriefings with lightness and joy. Be grateful for the learnings and insights which will make me a better trader
- Start jumping on the trampoline and knowing that it will help my overall performance, stress control and health.
JUST DO IT
Happy trading to you all and trade with grace, ease and joy!
And many thanks to all my trading buddies!