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Gejordan Weekly Journal

  • #181
  • Jun 7, 2016 3:05am Jun 7, 2016 3:05am
Trade 17
Short GJ
Price rejected R2 hard and held below 38.2 fib level.
After ll and lh, it pushed back up into r1, then gave a small pin.
Looks like it wants to test at least 50 and maybe even 38.2/R2 again.
The orange trendline is upward channel. I should have waited for that top area before
shorting. I was "hoping" R1 was going to hold.

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  • #182
  • Edited Jun 8, 2016 12:31am Jun 7, 2016 11:59am | Edited Jun 8, 2016 12:31am
Price finally did what I was looking for on GJ a couple hours later but I was asleep.
It actually did retrace and breakdown a little the candle before I got in. So my entry was not a good idea since price attempted to break down then pushed and closed above the R1.
  • #183
  • Jun 14, 2016 1:21am Jun 14, 2016 1:21am
Trade 18
GJ short
TP1 & running...
Edit: Out...
A bullish pin failed near the bottom, and price closed below 150 on bearish action.
Took a low risk attempt at price potentially pushing down to y low...
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  • #184
  • Jun 17, 2016 1:16am Jun 17, 2016 1:16am
Trade 19
GJ short
TP1 & running...
Price pushed up into my resistance area, fell, then gave a retrace and bearish action.
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  • #185
  • Jun 20, 2016 2:46am Jun 20, 2016 2:46am
Trade 20 - GJ short
Top of range...reluctant to push higher...
Low risk short.
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  • #186
  • Jun 22, 2016 4:22am Jun 22, 2016 4:22am
AUD/USD short
Took a loss on this one...
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  • #187
  • Jul 5, 2016 1:07am Jul 5, 2016 1:07am
Top image shows a trading frenzy I had on 6/27...post Brexit. Took an initial loss, then chased trades, flipped, and kept trying to get back my large loss. The initial large loss was a full loss, but not unrecoverable. Then my next loss was too large and added to my overtrading...
Here is the chart.
I chose to abandon my plan and let emotions rule...
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  • #188
  • Jul 5, 2016 1:09am Jul 5, 2016 1:09am
Here is a trade from 6/30 and equity curve through all of this since the start of my involvement with G on this thread on April 19th.
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  • #189
  • Jul 5, 2016 7:07am Jul 5, 2016 7:07am
Quoting mikepip
Here is a trade from 6/30 and equity curve through all of this since the start of my involvement with G on this thread on April 19th. {image} {image}
So, Mikepip contacted me and said he had a blowup, was sick of having blowups, and wanted to change the way he traded. So, I asked him to post the blowup and the associated equity curve. I wanted him to make it real and make it real for all of you as well. Mikepip is not the only one that has ever done this, but posting it and talking about it is really the only way you can stop it. If you keep it to yourself, you just do it again. And Mikepip might do it again, but we'll see if we can get to the root of why he did it.

I also had him post the equity curve. I wanted him to see it, post it, see it again. This is the equity curve of everyone when we get out of control.

Now, Mikepip, tell us why you overtraded on 6/27? And when we get that answered correctly, we will apply it to the first chart.
Be bullish on you.
  • #190
  • Jul 5, 2016 11:12am Jul 5, 2016 11:12am
Quoting gejordan
{quote} So, Mikepip contacted me and said he had a blowup, was sick of having blowups, and wanted to change the way he traded. So, I asked him to post the blowup and the associated equity curve. I wanted him to make it real and make it real for all of you as well. Mikepip is not the only one that has ever done this, but posting it and talking about it is really the only way you can stop it. If you keep it to yourself, you just do it again. And Mikepip might do it again, but we'll see if we can get to the root of why he did it. I also had him post...
This behavior happens with me usually when I haven't traded in a while...at least a few days. Though that is not always the trigger.
Then I open the charts and do not have a clear plan. I immediately start looking for trades based on price action. I don't have a pre-determined area of interest.
On the 27th, price was still moving nicely and I really wanted to get some of that Brexit action...after staying out up to this point, I knew I missed a lot of movement.
So, I got aggressive with my trading. Then, after an initial loss, I felt the need to get that money back. After all, price was still moving a lot and there was plenty of movement for me to get those pips back...and so on...

So...biggest reason - lack of plan or sticking to that plan. AKA winging it, and repeating that over and over.
  • #191
  • Jul 5, 2016 2:33pm Jul 5, 2016 2:33pm
Quoting mikepip
{quote} This behavior happens with me usually when I haven't traded in a while...at least a few days. Though that is not always the trigger. Then I open the charts and do not have a clear plan. I immediately start looking for trades based on price action. I don't have a pre-determined area of interest. On the 27th, price was still moving nicely and I really wanted to get some of that Brexit action...after staying out up to this point, I knew I missed a lot of movement. So, I got aggressive with my trading. Then, after an initial loss, I felt the...
"On the 27th, price was still moving nicely"

So, this bad group of trades was born the trading day before the 27th. Brexit happens, you smartly stay away, as to not get caught in major whipsaw, but then the day ends and all your brain can think about is all that missed opportunity. Wow, look at that chart, 1.60 to 1.35, it went mainly one direction, look at that place right there, why did I stay out I could've been in right here in this spot and made 200 pips easy. I suck, this is crazy, all this time I do this and here is a huge day with all this opportunity and I do some horsesh*t trade on AU 2 days ago and then sit out all this good action.

Am I close to the conversation in your head? I am guessing I am... Now you pick up and fill in the conversation in your head from when you sat down the 27th and including your trade thought process, as best as you can remember.

On to the 27th... (give me the detail, not the summary)
Be bullish on you.
  • #192
  • Jul 5, 2016 2:48pm Jul 5, 2016 2:48pm
Quoting gejordan
{quote} "On the 27th, price was still moving nicely" So, this bad group of trades was born the trading day before the 27th. Brexit happens, you smartly stay away, as to not get caught in major whipsaw, but then the day ends and all your brain can think about is all that missed opportunity. Wow, look at that chart, 1.60 to 1.35, it went mainly one direction, look at that place right there, why did I stay out I could've been in right here in this spot and made 200 pips easy. I suck, this is crazy, all this time I do this and here is a huge day with...
Yes that is pretty close...but I don't always feel this way - or maybe I should say I don't always react this way...Sometimes I know my trigger and I am ok with waiting and being patient. Once in a while I go off the deep end...

So I sat down on the 27th, having followed the hype of Brexit, and thought...well price is moving a lot, and there should be some good trades based on the movement (down). So I looked at the charts and it was not very clear as to where I would want to IDEALLY get short. Often after these big moves, it is tricky as to what price may do next, ie. retrace part or all of the move.

So, not finding the ideal place to find shorts, or thinking that ideally price would possibly need to go up for days to get to a great shorting area, I decided the next best thing was to look for price to find temporary resistance. I took an initial short and refused to take the needed risk based on the setup and volatility at the time.
So I took a loss. Then I kept thinking that price may retrace a bunch after the move, so I flipped to longs. Took shorts and longs on lower timeframes and never just sat back and waited on m15 for a clear setup. My emotions kept me trading to get back the loss. Finally I realized m15 hadn't given me anything great for shorts thus far, and all my trades were impatient. So as you can see at the top of the action, I got into a short or 2 that were more logical based on m15 action, but I couldn't even manage things at that point as I had been opening and closing trades with every ltf movement...
I then went to bed.
  • #193
  • Jul 5, 2016 3:20pm Jul 5, 2016 3:20pm
Quoting mikepip
{quote} Yes that is pretty close...but I don't always feel this way - or maybe I should say I don't always react this way...Sometimes I know my trigger and I am ok with waiting and being patient. Once in a while I go off the deep end... So I sat down on the 27th, having followed the hype of Brexit, and thought...well price is moving a lot, and there should be some good trades based on the movement (down). So I looked at the charts and it was not very clear as to where I would want to IDEALLY get short. Often after these big moves, it is tricky as...
I feel like you are still sanitizing it. If this was an acting role and you had to get raw and connect with the emotion... are you doing that here in your description? If you are, ok, but if not, dig deeper and tell us about it.

And you said "but I don't always feel this way"... of course you don't and I'm not suggesting you do. What I am trying to point out is that this is like a small fire that eventually ignites into something bigger and manifests itself into your chart from the 27th. I've done it many times. But it starts small. Might have been the lessons from when I talked to you about a smaller loss, and then maybe somebody cut you off in traffic, and then you argue with your wife one day, and then you have a profitable day, but you were a pip away from having a gain that was twice as big instead of getting stopped and then AU trade loss and the brexit move and then BOOM.... that is the reality and why you think you are in control for periods and then have a day like this. I mean think about it.... you even knew that you were showing trades and working with me and you still did this. Think about that.
Be bullish on you.
  • #194
  • Jul 6, 2016 10:53am Jul 6, 2016 10:53am
Quoting gejordan
{quote} I feel like you are still sanitizing it. If this was an acting role and you had to get raw and connect with the emotion... are you doing that here in your description? If you are, ok, but if not, dig deeper and tell us about it. And you said "but I don't always feel this way"... of course you don't and I'm not suggesting you do. What I am trying to point out is that this is like a small fire that eventually ignites into something bigger and manifests itself into your chart from the 27th. I've done it many times. But it starts small. Might...
Yes, I see how external factors can accrue to take us to the tipping point. I never gave all of that enough consideration, thinking I could re-focus when the time comes to trading. That may be true, but it definitely takes more discipline and letting go than I have displayed.
Some of the things that have pushed me over the edge include -
- feeling like I have to prove myself as a trader (to my wife and myself) in order to get us where we want to be financially.
- trading a smaller account than i would like, so my mind switches from "it's about consistency and developing good trading habits" to
"it isn't that much money, so who cares if you take on more risk..."
These two are often looming, though my wife is totally on board - I feel like I am letting us down in a way...since I am not where I thought I would be at this point with trading.
  • #195
  • Jul 6, 2016 2:04pm Jul 6, 2016 2:04pm
Quoting mikepip
{quote} Yes, I see how external factors can accrue to take us to the tipping point. I never gave all of that enough consideration, thinking I could re-focus when the time comes to trading. That may be true, but it definitely takes more discipline and letting go than I have displayed. Some of the things that have pushed me over the edge include - - feeling like I have to prove myself as a trader (to my wife and myself) in order to get us where we want to be financially. - trading a smaller account than i would like, so my mind switches from "it's...
Now we are getting somewhere.

Those voices are your strongest voices right now. Even more powerful than the voice that was running your profit chart up on a nice and steady incline. You sit there and have the capacity to make money, you show yourself you can, and it still doesn't outweigh the baggage. We gotta give due respect to the power of our negative self talk, acknowledge it, recognize it, etc., because it is stronger than any success you are having right now.

This is the answer to our project. The core of it. I showed you how to take less risk on an individual trade, but your desire to take that risk is rooted in the fact that you are "tired of letting us down". You aren't where you thought you'd be, but you are where you are and you are where you are supposed to be as it pertains to trading. You make it rain blue and red triangles on that chart a couple times a year because of the pressure you put on yourself wishing you were somewhere else. AND OBVIOUSLY... it doesn't work.

You gotta get yourself into the present at each and every single trading session. For the next month or two, I want you to keep a "RAGE" journal right by your computer. 20 minutes before you start trading I want you to unload in it every single thing that you are angry about, trading or otherwise. From your youth or from the current day. Wife bought the wrong kind of ice cream, write it in there and write why it annoys you. Sitting around down in the dumps that trading hasn't paid enough, write it down, write why it bothers you and keep writing until you get to the root of the emotion. And then close that notebook and trade. Start emptying out the rage and resentment toward yourself and start replacing it with being in the present. Make that growing equity curve important. And when the equity curve is growing, don't run to the wife and tell her its going up, just be thankful, let it be, and come back tomorrow and do the same thing. Empty the rage/anger/resentment, get clear, trade, and repeat repeat repeat.
Be bullish on you.
  • #196
  • Jul 8, 2016 4:35pm Jul 8, 2016 4:35pm
Quoting gejordan
{quote} Now we are getting somewhere. Those voices are your strongest voices right now. Even more powerful than the voice that was running your profit chart up on a nice and steady incline. You sit there and have the capacity to make money, you show yourself you can, and it still doesn't outweigh the baggage. We gotta give due respect to the power of our negative self talk, acknowledge it, recognize it, etc., because it is stronger than any success you are having right now. This is the answer to our project. The core of it. I showed you how to take...
Great great great plan! Thank you for taking the time to help me - and anyone else out there taking your advice!
  • #197
  • Jul 8, 2016 6:17pm Jul 8, 2016 6:17pm
Quoting mikepip
{quote} Great great great plan! Thank you for taking the time to help me - and anyone else out there taking your advice!
Awesome... obviously, continue posting any trades as well, but start each post with your prep as well. Don't have to tell us what you put in the journal, just that you did it.

Example:
Got clear
Took the following trade
pic of the trade.

I want you to be accountable to yourself and me and prove that you are getting clear before any trading session. Then describe the trade as usual.
Be bullish on you.
  • #198
  • Jul 8, 2016 6:27pm Jul 8, 2016 6:27pm
Quoting gejordan
{quote} Awesome... obviously, continue posting any trades as well, but start each post with your prep as well. Don't have to tell us what you put in the journal, just that you did it. Example: Got clear Took the following trade pic of the trade. I want you to be accountable to yourself and me and prove that you are getting clear before any trading session. Then describe the trade as usual.
Got it. Thanks!
  • #199
  • Jul 11, 2016 1:56am Jul 11, 2016 1:56am
Got clear.
Took 2 trades on GJ. Favor shorts. Was against temp move.
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  • #200
  • Jul 14, 2016 12:01pm Jul 14, 2016 12:01pm
Really messed things up today.
Didn't take time to get clear.
Took a GJ trade on emotion (late entry against move) and another that was more sensible, but bailed early.
Took a UC trade with poor entry.
Plenty to journal about next time!
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