Back to the Future – My Freewheeling Journal

If I may ask, the P/L, is that in Euro's or are these index points?

Points...
points!

To explain the MM I need a book in 3 volumes.
You must study fti and TAF with all your passion.

Each one of my positions could be (and actually is) different in value from the others .

MM = Mother Market?
I will do my best to study in my spare time.

MM = Money Management.
MO = Modus Operandi

Out. Squared.
And I'll call it a day.

+41.6 last platoon

Have a good and safe continuation.

Trading, posting, taking screenshot, posting, comment at my best, posting again...
choose the right picture and add a position...
write again and reduce the exposition. Exit. And write again.
Answer a question...

OMG it is not an easy task!

You're doing a great job! Thank you for that.

Now look this one could be nice.
Interesting move.
Couldn't resist.

This is why I said strange, before.
But is really another long story.
And she is now back there.

Tighten my stop under my scouts.

No. Price doesn't pass.
Bye... see you tomorrow.
-5
Control 13.003. (Just in case...)
OODA. It is the Yesterday's High.


A lesson on agility.
A lesson on good defense in trading.
Generally I try to be the squirrel. (But sometimes I like to be the predator, too.)

Waves.

Thinking in Waves.
Surrender to the Waves.

A Tender Surrender.

Brett Steenbarger -The Daily Trading Coach.
Interesting book, to me.
You and yourself.
Build your own Internal Observer... a kind of "surrogate trading coach". How you can watch over yourself.
Just a tiny morsel (cut and past, here and there):

In your role as your own trading coach,
you interrupt cyclical problems by becoming their observer, not the one caught inside the patterns.
By observing, you stand outside the cycles; they no longer consume you.

“Are you going to use today as an opportunity to learn and develop yourself, regardless of the day’s profitability?
What are you going to work on?
Building a strength?
Correcting a weakness?
Repeating something you did well yesterday?
Avoiding one of yesterday’s mistakes?
An important first step is to set the goal.

Try this exercise.
Before you start trading, seat yourself comfortably and enter into a nice slow rhythm of deep breathing.
Imagine yourself—as vividly as you can—starting your trading day.
Watch the market move on the screen; watch yourself tracking the market, your day’s trading ideas at your side.
...imagine yourself performing the actions that concretely put that goal into practice.
...imagine yourself patiently waiting for the pullback
and then executing the trade.
As you visualize yourself realizing your goal,
recall the feeling of pride that comes from realizing one of your objectives.”


>The easy part is initiating a change process. The real challenge is sustaining change.
> The enemy of change is relapse: falling back into old, unproductive ways of thinking and behaving.
(Perhaps you’ve told yourself that you need to follow your rules... still you make the same mistakes... and build frustration...)
> Your attempts at change fail because they lack emotional force. Without the momentum of emotion, relapse is the norm.

To each of your goals, add an "or else" scenario. Vividly imagine the consequences of not sustaining your change.
Relive in detail specific failure experiences that resulted from the faulty behavior you want to change.
When you add an "or else condition" to your goal setting, you turn fear into motivation.
The brain is wired to respond first and foremost to danger;
you will not gravitate toward the wrong behaviors if you’re emotionally connected to their danger.
Fear has to become your friend.

Mine: Please note that this is not simply "Motivational stuff"... we are really operating on "Our Inside", "Our Psyche".
Doing that we are changing something deep in our attitude.

Brett Steenbarger -The Daily Trading Coach. -2 ... Againg: cut and paste, jumping through the pages.


>Before you do the right things, you’ll stop doing the wrong ones.
This builds a sense of mastery and self-control:
you’re starting to control the patterns instead of having them control you.
Talking aloud and writing in journals, by themselves, will not rid you of overlearned behavior patterns,
but they do provide you with options.

Ego alien... the old me and the new me.
(My problems must become foreign to my sense of self.
These patterns are alien to me and simply sources of pain for me...)
“This is not the real me.”
“This is what I used to do; not what I want to be doing.”
“I’m reacting to the past, not to what’s happening now.”

I am not a passive viewer anymore... Now I am actively rejecting them....

>treat old, negative patterns as an enemy.

>Choice "a pattern of thinking, feeling, and acting" that has noticeably hurt your trading in the past several months,
and it should be a pattern that you’ve observed in others areas of your life.
Call to mind all the pain that this pattern has caused you over the years
and the prices you’ve paid for repeating the pattern.
You declare that pattern your enemy
and then you purposefully look for opportunities to confront this enemy in each day’s trading.

>YOU: the person and trader you’re capable of being.

Coach:
“I’m so disappointed in you!
How could you be so careless? You just ruined your week.
Do you realize what will happen if you continue to do this?
This is not a good time to be on the street looking for a firm hiring new traders.”

Coach, adopting a different tone:
“C’mon, you’re a better trader than that!
Remember last month when you put together a string of winning days?
You never needed to put on big size to do that. Let’s see if we can get back to that great trading.”

>Imagine that these interactions occur day after day, week after week.
It’s not difficult to see how the first approach would undercut a trader’s security and confidence,
leading to further bad trading.
The second interaction would likely help a trader get back to trading well.
It would coach success, not just the avoidance of failure.

>Our self-talk is our self-coaching.
Working on your coaching voice is a great way to move that work forward.
(Read your journal... what you see in it?? The coach and his student...)

>In coaching ourselves, we take control over our relationship to our self ;
the voice that we use as coach will be the voice that enters our head when we tackle the risk and uncertainty of markets.

>“Comfort the afflicted and afflict the comfortable,” is the way...

Think. Thinking.
Discussing with my Coach.
In deep meditation.

Again: Trading in a nutshell.

True Market Dynamics.


Break Traders – BLUE
These traders (Heroes/Desperados) bought the breakout.
They are just praying that other traders come along
and buy higher than they did. (the "greater fool theory" )

Novice Traders – GREEN
These traders just have no idea of what they are doing.
There are buying
what the breakout traders are now selling to them.

Momentum Traders – JELLOW
These traders are buying the PB near the MA.
They are likely going to put their stop below the hammer.

Swing Traders – RED
This is where we come in.
Pullback's Analysis.
Most of the novice and momentum traders have sold.


Novice+Breakout Traders
these traders are buying at the worst possible time.
(We could even sell to them and make our profit!)

Wanna see the "sad" truth about the Markets (as Zero Sum Game)?
Watch this picture.
Recall it to your mind each time your finger is going to press on mouse.
To whom am I selling?
From whom am I buying?


Sitting Duck - Someone or something vulnerable to attack, physical or verbal.
(Alludes to a duck floating on the water, not suspecting that it is the object of a hunter or predator.)
An easy target, as in "If you park in front of a fire hydrant, you're a sitting duck for a ticket."
This term alludes to the ease with which a hunter can shoot a duck that remains in one spot, in contrast to one in flight.

Someone who waits unsuspectingly for doom or destiny; an easy target for something bad.
"Get out of the way! You’re a sitting duck."

You're working on developing a set of skills that may take you 5/6 years to become proficient in what will generate you income for the next 50 years.
(Unfortunately not to me... I have really much more less in front of me.)

In average: according to Gann? 5 years ...Wyckoff? 10 years... Linda Raschke? 5/7 years.

It is not easy. If it was easy everybody would do it.

Martin Schwartz:

- I’ve said it before, and I’m going to say it again, because it cannot be overemphasized:
the most important change in my trading career occurred when I learned to divorce my ego from the trade.

- Trading is a psychological game.
Most people think that they’re playing against the market, but the market doesn’t care.
You’re really playing against yourself.
You have to stop trying to will things to happen in order to prove that you’re right.
Listen only to what the market is telling you now. Forget what you thought it was telling you five minutes ago.

- The market does not know if you are long or short and could not care less.You are the only one emotional involved with your position.
The market is just reacting to supply and demand
and if you are cheering it one way, there is always somebody else cheering it just has hard that it will go the other way."

Seykota: - "Trend following is an exercise in observing and responding to the ever-present moment of now.
I don’t predict a non-existing future."

This was quiet discouraging while reading

Jesse – It sounds very easy to say that all you have to is to watch the tape...
establish your resistance points... and be ready to trade along the Line of Least Resistance as soon as you have determined it.
But in actual practice a man has to guard against many things, and most of all against himself—that is, against human nature.
That is the reason why I say that the man who is right always has two forces working in his favour: basic conditions and the men who are wrong!

Gann - "Times and conditions change and you must learn to change with them.
Human nature does not change ...
and that is the reason *history repeats and **stock act very much the same under certain conditions year after year and in the various cycles of time."

Jesse - "Wall Street never changes, the pockets change, the suckers change, the stocks change,
but Wall Street never changes, because human nature never changes."