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Journal : Trading and training the mind - Giddy Up!!!
Ended the day down 3.5 pts. The swing of my on screen p/l was big from +9pts to -14pts.
I did find myself dropping out of trades as a result of comments on the forum as well as entering them with the same reasoning. These actions are taking away the discipline needed to be successful.
The game here is the mind. I am finding my trading volumes where too high over the past few days. It has been income generating overall but not consistent execution.
Time to get the trading plan clearer. Starting with how many units, sell strategies and profit maximizing methods.
The following 3 users say Thank You to Oiler for this post:
Take everything you read on the forum with a grain of salt. Also assume anything posted in out of date. By the time the person sees it, analyze it, and then posted it. The market could change.
Even though I post and do stuff I tend not to read comments while I am making trade decisions. My biggest issue is tripping over trying to post something and missing something in the market.
The following 3 users say Thank You to tturner86 for this post:
Ditto what @tturner86 said. Never follow others! It is OK to use the forum to gain information(context) you might not be aware of but you must make your own analysis. Often times, people are selling/buying for different reasons. For example, I start dropping off contracts at target levels- they mean nothing to anyone and are likely horrible places to exit but they mean something to my own personal money management. Can't tell you how many times people on the forum have opposite positions and both make money due to their exits.. Keep it up- the fact you can handle the volatility says you can do this mentally. Money management should be on the top of your priority list if you are already adapting larger targets.
The following 3 users say Thank You to Inletcap for this post:
This is not directed to you only but why do you guys post so many comments about your trades all day long knowing it won't help anyone and that you could miss an opportunity doing it? Is it just an ego trip? After all who cares about your trades except you?
@trendisyourfriend - I wonder how did you come up with a conclusion below? I'm not an expert here, I just starting to learn. And quite frankly journals likes this giving fare a bit hint to me personally. And I appreciate ppl who provides their trades with explanations.
The following user says Thank You to tr8d3r for this post:
I like to believe it does help others and I also feel seeing how others execute successfully helps me. I've picked up numerous ideas from others posts- things I had not seen that I should have, things I was not using that I've incorporated.
I've stated before- posting trades comes last- don't get paid for it. Never miss a thing due to posting- multiple monitors helps BTW. You will see a lot of pictures are time stamped several minutes before the post occurs- this is because trading comes first.
As far as being an ego trip- It is far more humbling than ego stroking to religiously post your trades and I am really sorry you feel so negatively about the open sharing of ideas. You should commit to post every trade you make for a week as a means of participation for the greater good and see what it does to your ego- FIO is all about helping each other.
The following 5 users say Thank You to Inletcap for this post:
if you have a system and you execute it as per your plan how seeing another person execute his OWN plan can help you? And @tturner86 you can keep a record of your trades on your computer that will do the same.
