I just keep buying the 70s, exitting the 90s... keep holding one or two becaus eI think it has room to move, but it is getting funny

Made it to 107 ticks today, then back to breakeven. I got lazy, bored, scalping as if I was just picking money up off the ground. When price fell into consolidation, AND, I knew it was from FOMC, I should have walked. But there was so much confusion to today I am not sure I felt "satisfied"?

In hindsight it was foolish, but at the time it just was. There was no indicator light that went off saying anything was out of the ordinary. I felt secure.

I think the pace of the market, the major whipsaw, the fact I was up, then down, then up again...

Overtrading. I get sloppy like that still occassionally.


Overtrading, also known as scalping, alters the in-the-moment concept of risk and opportunity. Numbs the senses some.


Tomorrow, this is what I will read first, via permalink to my journal shortcut.

Net -22.

Tonight, a new practice. Being in a slow trade. I am going to swing trade the ON session. Have not decided where or which way yet. The $ amount is small, that is not the point. I need less ...

No...


I wanted "action" today, after seeing so much of it and not understanding, and then feeling ready to rade but they did not want to go anywhere anymore.

And that baited scalping.

luerd it, or invited it, or was taken advantage of...

Or it was ust looking for an excuse.

But the reason is not the point. The pount is, having the SKILLS of a scalper = "good" . Having the mindset of scalper = "Bad".

We must believe that there is more opportunity than there is risk.

....



Why don't we? Something in our past? Something genetic? Or instinctual?


I have my theory, you have yours. Because we are not the same person. But we are still the same.

"Advantageous Opportunity". The question of, "is this one?", belongs on the trade checklist.

Sure, price MOVES all the time. So?

We learn to know the difference, and we must trust that we do know the difference, and they are two different sets of skills that do not develop as one.

My trade will be based on 3 things;

1) 240m chart zone
2) ETH Market Profile
3) ETH Vwap


Given the situation, with price inside a 618/786 confluence, back into the hig range of balance from a prior low pivot reversal, I am preferring long. Risk will be minimal. I know the 3am open could provide continuation. The profit or loss is not the point.

I KNOW this is not an Advantageous Opportunity. That is another lesson.

This is about something else, and I am willing to pay for it onight, and am not always willing to do so.

If it loses, and keeping in mind I am not it yet, have no clear direction but in my head maybe 65% up for RR preference It sis the cost of the lesson. And lesson does not mean "win". Better sometimes when it does not. ,

OK, in. The is my job, and I have to make a decision tonight, like it or not. The intent is to focus on managing the trade, and, knowing I am going to bed soon. This trade will end on it's own.

Why night, not RTH?

RTH is the "time". Harder to work on these things.

Why not sim?

It is just different.

BTW, I do not think this is a great trade, really can't say it is a good one. I am just doing what I think needs to be done to understand something I am working with. What I expect to happen, knowing myself, is if it wins, I will reinforce a good behavior. if it loses, I will continue to use what I know to play the same game. And RTH is too distracting to play something so silly.

Thursday, May 23, 2013

We will open way out orf range/balance to the downside.

GaryD 

Made it to 107 ticks today, then back to breakeven. I got lazy, bored, scalping as if I was just picking money up off the ground. When price fell into consolidation, AND, I knew it was from FOMC, I should have walked. But there was so much confusion to today I am not sure I felt "satisfied"? In hindsight it was foolish, but at the time it just was. There was no indicator light that went off saying anything was out of the ordinary. I felt secure. I think the pace of the market, the major whipsaw, the fact I was up, then down, then up again... Overtrading. I get sloppy like that still occassionally. Overtrading, also known as scalping, alters the in-the-moment concept of risk and opportunity. Numbs the senses some. Tomorrow, this is what I will read first, via permalink to my journal shortcut. Net -22.

Zero risk trade, just feeling where things are

I have been buying this market, there is a major support zone around 91.84-92-13, + a prior excess low (green on MP chart), and the RTH/ETH vwaps are in conflict with each other.

I exitted a trade and may go short now at the edge of ETH vwap, there is still an incomplete low on today's MP, but there has been a lot of buying down there.