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Man, that hasn't happened in a while, which is a great thing, but boy it doesn't make it feel any better! I feel pissed at my coach for taking me off the mound when I "know" I can strike the next guy out. Deep down, I'm glad to have a coach though. I used to not have one.
Can you help answer these questions from other members on NexusFi?
Trade 1: Went short due to slowing momentum entering a resistance level.
I was quickly stopped.
Trade 2: Yes it was a 2 candle stall at support, but I chose to ignore the selling tails and the descending triangle forming against me.
Trade 3: Now we're trending down, but I wasn't aware of a longer term wedge forming on the 30 min chart, so I'm late to the party with this attempt at a continuation trade.
Stopped quickly... again.
Trade 4: Now we're grinding higher in an uptrend, and I go for the higher probability play with the pullback at support.
I haven't posted the would-be stats in a while. I'll do it graphically today.
Here's overall net p/l performance. The blue line is what pace you have to be keeping to hit p/l targets in the 20 minimum days, the green line is what you have to stay above to hit the target in the max allowed 40 days.
Days traded 11, winning days 73%
20-trade rolling average of win% and win:loss (combine will use the total cumulative number which you can eyeball)
Here's a graph showing cumulative P/L (can also eyeball drawdown figures) in green and right axis. Each individual trade p/l is the bar chart in blue (left axis)
Thanks for the feedback. I really do appreciate it. I literally have hundreds of people a day lurking the webcasts, blog, and the bmt journals, and I bet I average 3 "thanks" or interactions per day. I appreciate you taking the time to do so.
I typically trade until around lunch. Unless it's been really good and I feel like stopping, or it's really bad and I have to force myself to stop (like today). I really don't have any concrete rules for how long I trade each day, it's determined by how the trading is going, my emotional state, my physical state, my daily schedule, etc. If I am down for the day after a few hours, but not frustrated, and the markets are not in some awful state, I will keep going until I can get a big winner and end the day on a good note.
Yes, I think it's best to apply complete focus for a couple hours and be done. Given the short term nature of the moves I trade, if i'm "on", I should have been able to bank some ticks in a 4 hour period. In a realistically perfect world, I start to trade around 7CST, take 5 trades over the next 3 hours, with 2 small losers, 2 20+ tick winners, and a scratched trade.
Thanks again for the feedback. It certainly provides extrinsic motivation to continue to freely share what I know with other traders.
This afternoon, I decided to take a look at the daily chart for CL. I rarely ever look charts longer than the 1hour, but I must say, I was intrigued when I did.
I couldn't help but first notice the pattern of uptrends and downtrends with basic …
journal, because I figured more people might be interested there, but I didn't want to leave out anyone here.
Another daily loss limit today. Very frustrating to put it mildly. It's my own fault today though. I had opportunities. Here's the overall picture. More analysis later after I take a break to clear my head.
Hey man - happens to the best of us. Keep trying, keep focusing on the simple stuff - don't look for something complicated to fix anything. The devil is in the details and its attention to consistency and emotional balance that will keep you on the path to better and better performance. Clear your head and don't dwell too much on negatives going into the weekend. Next week's a whole new week.
Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
I really like the first chart in post #73, the Combine goal vs. net P/L. That is a very good visualization of where one stands and he can evaluate his performance with one quick look. If the performance keeps staying under the goal line, an adjustment is needed.