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My take on Emotional Discipline

  • #221
  • Dec 28, 2018 2:35am Dec 28, 2018 2:35am
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  • #222
  • Jan 5, 2019 1:09am Jan 5, 2019 1:09am
Not so easy to change our habits, trying to help myself by reading this 2 books.
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  • #223
  • Jan 6, 2019 10:34am Jan 6, 2019 10:34am
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  • #224
  • Jan 10, 2019 12:10am Jan 10, 2019 12:10am
same set ups on Dax and Nq
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  • #225
  • Jan 15, 2019 6:44am Jan 15, 2019 6:44am
This is final decision
Sierra+ futures+NQ
Cannot giveaway too much spreads on cfd's.
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  • #226
  • Jan 15, 2019 7:43am Jan 15, 2019 7:43am
Quoting Rmg
This is final decision Sierra+ futures+NQ Cannot giveaway too much spreads on cfd's. {image}
You will be happy about the decision !
  • #227
  • Edited 1:47pm Jan 18, 2019 11:13am | Edited 1:47pm
Too sad to see people going mental over optimizing their strategy, never-ending crave for perfection doesn't exist in trading.
What matters is execution , even if it is a simple strategy.
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  • #228
  • Jan 22, 2019 12:51pm Jan 22, 2019 12:51pm
Quoting Rmg
Too sad to see people going mental over optimizing their strategy, never-ending crave for perfection doesn't exist in trading. What matters is execution , even if it is a simple strategy.
Funded my first futures account today
No plans to live trade for next 10 days to ease things off, then start gradually. Emotional part has been dealt with .
Break down my goals into smaller incremental,, expecting to execute my plan with possibly less errors.
I will continue to post my charts with results .
In the past, a big winning day followed by the disaster day, hope not to repeat it. I will have to post this quote next to my trading desk
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  • #229
  • Jan 23, 2019 7:50am Jan 23, 2019 7:50am
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  • #230
  • Jan 23, 2019 7:54am Jan 23, 2019 7:54am
Quoting Rmg
{image}
Love sierra chart but for a lot of quick scalping the way it shows the fills definitely crowds the chart . . . .
  • #231
  • Jan 23, 2019 8:02am Jan 23, 2019 8:02am
Quoting bapakjason
{quote} Love sierra chart but for a lot of quick scalping the way it shows the fills definitely crowds the chart . . . .
Yeah, maybe the font size is, I need to change it
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  • #232
  • Jan 25, 2019 12:21pm Jan 25, 2019 12:21pm
First day of live trading, not good at all
Total trades: 80
net: -145 ticks(-225 ticks including commision.)
Over trading , too excited, disregard plan, list goes on.....
i was up 145 ticks within first 15 minutes. What was going in my mind continue to trade until i found mysaelf in this deep hole.

I should start with 5 minutes chart where i get less signals, stoploss is bigger so what less trades less commision.
LOng long way ahead of me i see.
But its good one way starting with drawdown put me in alert , here after.
Never had done 80 trades in one day not even on sim.
Lessons learnt, lossing is part of the game , but should be well within our limits.
Moving on.
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  • #233
  • Jan 25, 2019 2:24pm Jan 25, 2019 2:24pm
Quoting Rmg
If you are a day trader, quit while you are ahead is the best piece of advice you can ever get. Taking every signal will only quicken up the law of large numbers which could bring the loosing streak. Small wins either 10/20 ticks consistently then increase the lot size as account grows. Knew this already did i, really not understanding ..
Stay with this. Rinse and repeat. Over and over and over. One day at a time. 20ticks a day will make a ton of money as the contract sizes get large. 20 ticks. 20 simple ticks.
  • #234
  • Jan 25, 2019 2:28pm Jan 25, 2019 2:28pm
Quoting bapakjason
{quote} Stay with this. Rinse and repeat. Over and over and over. One day at a time. 20ticks a day will make a ton of money as the contract sizes get large. 20 ticks. 20 simple ticks.
Even 40 tick is seems too easy for me. This mentality is a killer for me.
Overtrading is my challenge to come after .
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  • #235
  • Jan 25, 2019 2:33pm Jan 25, 2019 2:33pm
Rmg where you trading a 1m chart
  • #236
  • Jan 25, 2019 2:47pm Jan 25, 2019 2:47pm
Quoting STrading
Rmg where you trading a 1m chart
Yes, and 30 second.
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  • #237
  • Jan 25, 2019 2:56pm Jan 25, 2019 2:56pm
Quoting Rmg
{quote} Yes, and 30 second.
I dont understand how people trade those very short time frames, in higher time frames they manipulate the price so easily to hunt for stops now just imagine on lower time frames how really easy it is for them to hunt for stops
  • #238
  • Jan 25, 2019 3:01pm Jan 25, 2019 3:01pm
Quoting STrading
{quote} I dont understand how people trade those very short time frames, in higher time frames they manipulate the price so easily to hunt for stops now just imagine on lower time frames how really easy it is for them to hunt for stops
Market dynamics are same on all Time frames .
I found much easier to trade lower time frames..
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  • #239
  • Jan 25, 2019 4:04pm Jan 25, 2019 4:04pm
Quoting Rmg
{quote} Even 40 tick is seems too easy for me. This mentality is a killer for me. Overtrading is my challenge to come after .
I think the video in this post #3 discusses the issue:
https://www.forexfactory.com/showthr...6#post11758246

And then this image he posted is interesting also:
https://www.forexfactory.com/attachm...4&d=1544418029

Take care, have a good weekend !
  • #240
  • Jan 26, 2019 9:23am Jan 26, 2019 9:23am
Quoting bapakjason
{quote} I think the video in this post #3 discusses the issue: https://www.forexfactory.com/showthr...6#post11758246 And then this image he posted is interesting also: https://www.forexfactory.com/attachm...4&d=1544418029 Take care, have a good weekend !
Seen this video earlier, definitely thats the way we should approach trading .
The problem is I get past those tick targets very quickly within a matter of minutes..if I stop trading for the day right then that's I am supposed to do.
But some older traits in me pops up to start chasing the price kind of forgetting why I trade in first place. Tilt is the right word.
I was going through yesterday's stats...
1.i took 51 short trades , which against my MA system
2. First 15 minutes I was up 140 ticks, didn't stopped there.
3.after first hour - 30 ticks, didn't want to accept defeat on first day, so continued to tilt.
4.allmost all the trades went to 16 ticks positive before closed as a loss.
I need to work on the trade management part, moving sl to Break even or trail.
Well, I take it from here.
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