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Somebody slap me for not taking 5 trades this early morning I simply can't "let it go"
Thanks Fat Tails for the info, yesterday I could observe a clear volume change from March to June and today, in March contract there are prices with empty cells in the DOM.
Well, today is the ladies day. We men have to give some of our profits to them.
I am a little less than 10 dollars in minus for today after four losses and one win. Computer died on me again during that win, I had to log in from a laptop and cut the win two ticks short, but that's alright.
I did not take I think 7 trades all of which would end up being wins, on some I was simply late (saw the opportunity too late, because I was doing some other stuff), some I did not take I thought they were dangerous trades, but this was not my plan (which was to take every trade).
I came across the following post from Mike and you can learn more from it than from most books. Exits define what you have in the end of the day:
For me, I had to deal with accepting that on every trade there was going to be the initial risk, the initial reward expectation; the developing risk and eventual reward. All I could do was control the initial risk and set in place my expectation of the …
Very bad trading, far from what I planned. I entered a perfect trade and some nerve impulse had to tell me to chicken out only to see price move my way 6 ticks almost in an instant :/
Because of heavy news today, I only saw two trades, one of which I ruined. I don't like trading Friday afternoon, except there is some trend going on (now is quiet) and most instruments had their daily move already.
Yesterday +$15
Today + $120
So far, no loosing days since I started... That will change.
This weeks problems were all psychological. The only technical I had was my AMD Athlon 5000+ computer turning off on me during trades.
I don't know how many psychologists will read it, but if it is of any use:
-I am afraid to lose money, even though I meditate all day that money does not matter. I don't panic when a trade goes against me (I think I handle looser well), but I am more inclined to close profits early.
-When I am in plus for the day, I am more reluctant to taking more trades. Keep what you got bias^^.
-I have this other bias where I always think: "Had I not had those stupid mistkes during the first week, I would be more than twice as far ahead with my performance" and that thought holds me back. I lost a lot of money because of switching instruments and trading wrong stuff and because I fell asleep. Any remedies?
-I close winners early and I can't help it.
-I don't take all trades. This is the most serious issue.
One of my recent thoughts about: " You can't go broke taking profits": It sure does apply to systematic traders, but not to discretionary trading. While a discretionary one might go broke taking profits too early (like it could be the case with me because I close profits early and losses are already watching me...), a systematic assures himself going broke. A discretionary trader does not have to enter risky trades, while systematic has to take his signals. Since when that phrase came to existence not many systems existed, I think there is nothing wrong with it.
I simply can't "let it go" 