Just took a beautiful mean revrsion here

Took 2 off at Vwap and going to target other side of value now

Thanks for your input. Stops have always been a problem with me. I guess I'm trying to keep them as small as possible instead of putting them in the logical spot. I'm OK with being wrong, but patience, I think, is a problem. I tend to trail my stop up as price moves in my favor. Need to rethink that.

GaryD 

Forget about TPO, POC, trend, risk/reward for a moment. What feels comfortable to you? If keeping your stop out and being wrong is something you are not comfortable with, try to figure out why. Is that particular fear, in that particular situation, valid or not? Conducive to you moving forward, or not? Here is an example; Today I was comfortable to take heat early, but have givne back profits so many times over my history that I start valuing opportunites less as the day goes forward. I may take a 30 tick emergency stop on one trade, but then not be willing to take less than breakeven later. Not that it is the best thing, but for me to survive, I had to learn that I was making money and then giving it back, over and over, and had to develop some memory or system or defense to stop doing it. I KNOW, not guess, or backtested, or bought some training, or read in some book... certain things about myself and what I see and interpret compared to what actually occurs in the market, and certain things about how I respond to various situations. Today, I was trading in my own comfort zone. I am ok with having a wide stop at the beginning of the day, if the trade makes sense to me. But if it starts to not make sense to me, all of a sudden that R:R is out the window and I might close the trade. Right or wrong? I don't care anymore. What is important to me is that I am listening, observing the outcome, trying to digest, and coming back tomorrow with maybe one drop more understanding than I had the day prior, or year prior, or whatever time it takes to grasp that particular lesson. Patience, persistance, stay safe.

greenr 

Just took a beautiful mean revrsion here Took 2 off at Vwap and going to target other side of value now

You are killing it today.




You have me wanting to learn what a mean reversion is... lol!!

Mean, grrrrr!

Tiger45 

Thanks for your input. Stops have always been a problem with me. I guess I'm trying to keep them as small as possible instead of putting them in the logical spot. I'm OK with being wrong, but patience, I think, is a problem. I tend to trail my stop up as price moves in my favor. Need to rethink that.

Trading is an adventure in rethinking.

GaryD 

You are killing it today.

Yes today has gone very well

I had a bit of a mental battle yesterday so nice when things go smooth

greenr 

Yes today has gone very well I had a bit of a mental battle yesterday so nice when things go smooth

I find that all my battles are mental. You are kicking butt.

I thought the way Bruce Banner became the Hulk was through Mean Reversion...

Tiger45 

Thanks for your input. Stops have always been a problem with me. I guess I'm trying to keep them as small as possible instead of putting them in the logical spot. I'm OK with being wrong, but patience, I think, is a problem. I tend to trail my stop up as price moves in my favor. Need to rethink that.

Daily Reflections By Peter Ragnar

"I am my own inner voice which always gives me correct answers when I'm faced with indecision."

greenr 

Yes today has gone very well I had a bit of a mental battle yesterday so nice when things go smooth

Well done, nice trading.

Looks like another balanced profile today

@GaryD (and others), you can automatically take a screenshot and upload it to nexusfi.com (formerly BMT) with this tool:

Screenshot Utility for NT: vvScreenShot This little indicator can save a screenshot of a chart (the chart the indicator is applied to) to a user selected folder. It works with a little button on the chart: 93004 or with the hotkey Alt+P (this can be changed in line 160 of the code). These …

Much easier and faster than the method you are currently using. The tool will spit back a URL automatically and you just paste it into your post.

Mike