I've packed up some of my things and moved across the hall (hopefully to a window office!). I'm not sure if it'll be permanent, but stop by my new place if you get a chance.
Saturday, January 30, 2010
Friday, January 29, 2010
Thursday, January 28, 2010
Wednesday, January 27, 2010
Monday, January 25, 2010
Sunday, January 24, 2010
01/24 Weekly Attitude Review
I started again last week tracking my attitude via my Attitude Index™. (I've been posting it daily on my Twitter page.)
Early in the week I had two "0" days in a row for my AI but then during the last few days of the week I made it my main objective to try to have an attitude of appreciation about everything I was thinking about, looking at, or experiencing. It turned out to have a significant positive effect on my attitude compared to the beginning of the week.
Of course the reason I try to make my attitude a priority is because of the positive effects that I believe it can have in my life.
This week I had some nice minor breakthroughs regarding some aspects of my trading. I also realized that I was more patient with the people around me (family), and I just enjoyed life a little more than usual.
I also stumbled across (no coincidences though right?) a couple of things on the web that really opened my eyes to more of the workings of thoughts and their effects on our environment. I may talk more about that later.
Hope everyone has a good weekend.
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Attitude Trader
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12:52 PM
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Friday, January 22, 2010
Sunday, January 17, 2010
Return Of The Attitude Index™
I started using my Attitude Index™ (AI) back when I first started this blog in 2007. I've stopped using it and then started again several times since then.
I'm starting it up again because I'm ready to make my attitude a priority again. Not that it isn't always important to me, but I haven't been focusing on it like I should. I've been pretty deep into reading about the cause and effect relationships between thoughts and the resulting circumstances they create but I haven't been practicing it very well, so now it's time to get started again.
The straw that kind of broke the camel's back was when Dinosaur Trader told me the other day that he's actually seeing more to the whole positive thinking thing as it relates to trading and life - yes, minor miracles do happen! It kind of snapped me out of my fog and made me realize that of all people, I should be practicing it and setting an example.
So, I won't post my AI reading here every day but I will have a daily graph in the sidebar that I will update regularly. And I'll probably do something like a weekly recap of my AI too.
I will however probably post each day's AI reading on my Twitter page. Lot of "probably's" here because I'll need to see what feels right.
I always shake my head when I'm thinking about starting again because I wonder why I ever stopped. In the past there has been a pretty good correlation between uptrends in my AI and the positive things that start happening to me.
We'll see. Here we go again...
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Attitude Trader
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4:22 PM
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Labels: Attitude Index
Wednesday, January 13, 2010
01/13 Still Around
I'm still very involved with and continuing my mental work.
In order to get away from the stress I was causing myself with my trading and to shore up my finances, I liquidated (but didn't completely close) my trading account, cancelled my data subscriptions and stopped watching the markets.
Over the past few months I've been more relaxed and more focused on stabilizing my life outside of trading with regard to finances, health/exercise and general family circumstances.
Additionally, this is the slow season for my business so reducing my expenses due to trading and the potential for losses has helped me feel less harried and under pressure.
However, I didn't suddenly discover a hidden passion for some other endeavor - I'm still attracted to trading.
I've started to watch the markets a little over the past week or so and read a few of my favorite trading blogs, and I'm finding it interesting how quickly I'm becoming uptight and at times depressed when I see the market moving and think about my inability to trade successfully. Fortunately I'm able to easily recognize this now and realize that I'm still not ready to get involved again at this point - at least with my current perspective on what I think trading should be for me.
Nevertheless, my objective for this blog remains the same, being what I would want to see as a new and/or struggling trader: to follow someone who is coming from a place of complete lack of trading success (i.e., frustration), to a gaining of some understanding and moderate success (i.e., breaking even?), to the development of the ability to trade consistently and successfully (i.e., for trading to be the main source of income).
While that may be the objective of this blog, I realize that it really means that I'm asking that of myself. And as I've found over the years, it's a tall order to fill. I'll just have to see what happens.
In the meantime I want to say how much I appreciate some of the trading blogs out there that help me see the possibilities and to learn. Tom C. is doing a great job in X's absence; Jamie is still providing great examples and teaching; Charlie graciously shared his "costs to trade" which I think is a great thing for new traders to see - hope to see you back soon; Scott still makes trading look like a money machine; and Jeff is still showing his inner calm in the markets. Still miss Dinosaur Trader though!
Thanks for sharing guys.
Update 01/16/10 10:10AM: Yesterday I spent nearly the entire day studying stuff on Trader Mike's site and still have a long way to go. He shares an enormous amount of great information. Thanks Mike.
I also got in touch with Dinosaur Trader. He's doing well, still trading, and you can follow him on Twitter.
Posted by
Attitude Trader
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3:36 PM
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Wednesday, September 30, 2009
09/30 Consistency Exercise Days 14 Through 30
I've continued with my consistency exercise and have had some new things open up for me because of it. I won't post here about it anymore but I'll be continuing with it.
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Attitude Trader
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10:15 PM
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Sunday, September 13, 2009
09/13 Consistency Exercise Days 6 Through 13
As I mentioned in my last post, my objective with this consistency exercise has become the maintaining of a consistently positive attitude.
And I've done that quite well.
The benefits are appearing once again in all areas.
With trading specifically I've become clearer about the direction I want to take with my development as a trader as a result of this a freer, less stressed mindset.
I will be continuing with this process but my posting will be intermittent for the foreseeable future.
Hope everyone has success with their trading.
Posted by
Attitude Trader
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6:29 PM
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Saturday, September 5, 2009
09/05 Consistency Exercise Days 4 and 5
My current consistency exercise was to be about being consistent with my trading method in order to develop the mindset necessary to interact appropriately with the markets.
But it has created an almost immediate and unforeseen realization that where I'm sorely lacking in consistency is in my attitude. Not just in my trading life, but my life overall.
This is what this blog has been all about. And it's what I've been all about for several years now.
But I guess it's easy to get off track and sometimes it takes something unintended to flip the switch and get the light turned back on in my head.
Yesterday I took the day off from trading and lightened my workload so I could spend the afternoon shopping and having lunch with my wife. We had a great time but I maintained that consistent attitude of concern/worry/doubt that I've been carrying around for quite some time.
I've learned, after being at this game for 17+ years, that when I'm deep into trying to make my trading work it's extremely easy to get frustrated and depressed. I've also learned that when I decide to get away from it for a while I become much lighter and easy-going.
It's obvious to me (now) that my mental approach toward my trading - not just the "rules" part, but the whole thing - is not the appropriate one and is not benefiting me.
So yesterday I decided that I would begin a new approach today.
My consistency exercise will continue but will consist of a more "top down" approach where my highest priority will be on my overall attitude, where it should have been all along, rather than just a "consistent in my rules" approach.
I used to track my daily attitude with my Attitude Index. I dropped that a while back because I thought it actually interfered with my attitude.
I won't be starting that up again at this point, but the overall idea is the same: Attitude is everything.
My main objective is developing and maintaining a positive, beneficial attitude. With that being a consistent objective, the rest of the things I want to accomplish (trading success among them) should begin to start working out in more favorable ways for me.
We'll see.
Also, I've recently discovered the guys over at the E-Mini Player blog and they have some good posts. Check 'em out.
Posted by
Attitude Trader
at
12:57 PM
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Thursday, September 3, 2009
09/03 Consistency Exercise Day 3
Trading: I was again consistent with my method.
I did quite a bit of reading during the session and gained a few new perspectives, so I paid attention to another way of looking at the market during the session too.
Work: Not a lot. Shouldn't have to work late.
Attitude: Better than usual attitude today.
As I'm working on consistency here it became clearer to me today how consistently poor my general attitude has been toward my trading during the day.
Yes, I've been following my rules but not really in the proper "spirit." I'll be working to make an improvement in that area and be more consistent with that as well.
Posted by
Attitude Trader
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5:10 PM
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Wednesday, September 2, 2009
09/02 Consistency Exercise Day 2
I realized today that posting a daily P/L is not only counterproductive to what I'm doing now, but also irrelevant, so I won't for now. I'll probably do the stats at the end of the month though because I am logging every trade - that should be interesting.
Trading: I knew very quickly that today would be a horrible day for my method, and it was.
I didn't really even want to post today, but what I'm doing isn't about whether I'm profitable or not.
It's about consistency.
I had a hard time following my rules today because my method was doing so poorly. I found myself being distracted a lot and thinking about just doing other things today. But I stayed for most of the session, followed my rules, and got in another day of making consistency a priority.
Work: I'll be working late again tonight. It's even tougher when what I'm doing with my trading doesn't seem to be directly working toward making a profit. I'm spending my day "training" myself rather than making money, simulated or not, and I really have to keep reminding myself of my objective here.
Attitude: I kept getting really distracted and had a hard time staying focused on my trading. I wrote an outline regarding my plan and objectives so I can keep it in front of me and remind myself what I'm working to accomplish here.
I found myself feeling moody late this afternoon due to all the thoughts that run through my head about the implications of having another losing day, not having a winning method (short-term thinking there), and everything attached to all of that.
Posted by
Attitude Trader
at
4:46 PM
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Tuesday, September 1, 2009
09/01 SIM [+$560.00] Tue
Today's SIM Net ROC: +$560.00 | 13 trades | 13 cntrcts
Trading: Caught the nice move down early in the session but then got beaten around a little by the afternoon choppiness.
Work: Working late tonight.
Attitude: Found myself getting aggravated about some of today's losses, but kept reminding myself what my objective is here today. Did a pretty decent job.
Posted by
Attitude Trader
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3:01 PM
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Monday, August 31, 2009
August Review & Stats
Aug SIM Net ROC: +$2,415.00 | 121 trades | 43% Wins
Avg Win: +$200.96
Avg Loss: -$116.45
Avg Trade: +$19.96
Avg Initial Risk Per Trade: $161.69
Profit Peak: +$5,635.00
YTD Max Drawdown: -$3,220.00
YTD Net Return on Starting Capital: +$2,415.00
[Note: These stats begin with trading starting on August 7th when I began following a specific method and set of rules.]
This month has been a very important one for me because I feel as though I've really been able to begin to implement my "Starting From Scratch" approach toward my trading.
I accomplished something this month that may not seem like a big deal on the surface to most traders, but has had a profound effect on my attitude toward my trading: Except for one day when I was out of town, I traded the entire session of every trading day this month.
There are several significant changes to my attitude that have come as a result of this.
First: I discovered that I am actually capable of managing to work and make real money from my real job, while at the same time trading full time. It hasn't been easy and I've worked a lot of nights and weekends, but I've done it.
This is significant because I think that I really believed that I had to be successful with my trading and make real money from it right way because I wouldn't be able to do both.
I'm not saying that I can keep doing both indefinitely, but it does give me a little sense of relief and I don't feel quite so rushed to make something happen with my trading, which is important for my development.
Second: I'm beginning to form a habit of action and a habit of thought that says, "It's my job to trade everyday."
This is profound because it tells me that I have come to a place, mentally, where I'm not only taking my trading seriously, but that doing it day in and day out is becoming more of "who I am."
Like the repetition of any task, the more you do it, the more you expect to be able to do it, and the cycle just keeps going.
Third: Although it has been frustrating, I am beginning to get a glimpse of the importance of having a longer-term view of my results.
At the beginning of the month every trade was important. That view is gradually giving way to a new one that is more along the lines of "each individual trade is not that important, and it's the culmination of all the trades over a period of time that's important."
This seems logical enough but I think the typical losing-trader mentality, even though he doesn't even realize it in the moment, is that every trade needs to validate him as a trader and be a winner otherwise the market is betraying him or his method is flawed.
I don't completely have that longer-term view just yet, but I'm starting to see the light of it a little more now.
Fourth: I have a much greater appreciation for the part that drawdown plays.
I think that drawdowns, which every method encounters, is a massively overlooked aspect of trading by unsuccessful traders. You will experience drawdowns. You will have losing periods. These periods will test you. They will make you doubt your method.
And for most traders they will make you abandon your plan and begin the vicious cycle of looking for the holy grail again.
As Mark Douglas says in The Disciplined Trader: Developing Winning Attitudes, "The problem is that rarely will the typical trader stay with his system beyond two or three losses in a row, and taking two or three losses in a row is a very common occurrence for most trading systems."
I think for daytraders it's probably just as good to say that taking two or three losing days in a row is a very common occurrence for most trading systems.
There is a fine line between banging your head against a wall with a method that just isn't viable and being persistent with a method that is. But the only way to know for sure whether it's a valid method or not is by trading it for a long enough period of time to see if in fact it is or isn't valid.
I think I have, in the past, completely avoided the drawdown aspect because I unconsciously didn't want to have to face it.
Fifth: I don't care what anyone says, there is no reason whatsoever to use real money in the beginning of your development as a trader when there is such easy access to real-time simulated platforms.
There's no way I could have continued through last week and today if I had been trying to use real money.
Yes, trading is different when using real money. I've been at this for over 17 years, I've done a ton of "live" trading, and I am fully aware of the differences.
I'm also aware that right now trading with real money isn't important. That can come later - after I've made some serious strides in my development as a trader.
Wrap Up: So going into September my only objective is my development as a trader. It's not about finding a better method. It's not about making money. It's only about creating the appropriate mental structure to be a consistently successful trader.
I'll be following the procedures and exercises in Chapter 16 of The Disciplined Trader: Developing Winning Attitudes, and Chapter 11 of Trading In The Zone: Master the Market with Confidence, Discipline and a Winning Attitude. I will continue to use the same method that I'm using now. It may not be working well, and it may not work well going into the future, but that is irrelevant at this stage.
This stage is all about riding the tricycle. It'll be interesting to see how it all works out.
Posted by
Attitude Trader
at
5:12 PM
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08/31 SIM [-$1,660.00] Mon
Today's SIM Net ROC: -$1,660.00 | 14 trades | 14 cntrcts
Trading/Attitude: Another day in Character-Building School.
I did quite a bit more reading of The Disciplined Trader: Developing Winning Attitudes over the weekend and got clearer about my objectives for my trading right now.
I definitely thought I could have done better than my method did today, but my objective for today wasn't to make money or improve my method.
My objective was to continue to develop myself as a trader by being consistent in following my rules. And because of that I actually had a pretty good attitude throughout today's trading session even though it was horrible for my method.
So from that perspective, my day was a total success because I did follow my rules without exception or error, and I did what I set out to do today.
This is a very difficult step to take because it doesn't really seem like any progress was made: I didn't improve the method; I didn't make simulated money; I didn't have a winning day.
But the progress I made is very real and of the utmost importance to my development. The improved method, the money, and the winning will all come when I have developed appropriately as a trader.
Work: Got it all caught up this weekend.
Posted by
Attitude Trader
at
2:48 PM
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Saturday, August 29, 2009
End Of Week Stats
This Week SIM Net ROC: -$1,380.00 | 45 trades | 29% WinsTrading: Tough week for me mentally.
Work: Working most of the day today (Saturday).
Attitude: Doing a pretty good job of constantly monitoring my thoughts and emotions, and adjusting them in positive directions.
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Attitude Trader
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1:59 PM
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Labels: End Of Week Stats
Friday, August 28, 2009
08/28 SIM [-$555.00] Fri
Today's SIM Net ROC: -$555.00 | 10 trades | 10 cntrcts
Trading: Another extremely tough day for me mentally. Followed my rules/plan without fail. No fudging. No getting fancy. No trying to do something different to fit today's market conditions. No second-guessing because things weren't working out the way I wanted them to.
This is about developing the mental skills I need to be a consistently successful trader. Not about trying to find/develop a better mousetrap.
It's incredibly difficult though.
Work: I'll be working again tonight and tomorrow too.
Attitude: Read The Disciplined Trader: Developing Winning Attitudes. Read my affirmations out loud. Kept working to try to keep my thoughts moving in positive directions.
Posted by
Attitude Trader
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2:50 PM
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Thursday, August 27, 2009
08/27 SIM [+$530.00] Thu
Today's SIM Net ROC: +$530.00 | 6 trades | 6 cntrcts
Trading: The markets did things today that I would not have believed nor been able to take advantage of if I hadn't followed my rules.
It wasn't easy because I had several full-stop losers mixed in there so I had to work through some fear and hesitation and keep putting on my trades according to my signals. I also spaced out and missed a profitable trade right at the open.
By far the most important thing today is that I continued to follow my rules and proved to myself that every day isn't going to be a losing day even though the past three days were making me start to feel that way.
Work: Working late again and business is picking up a little so I'm going to have to be careful not to allow myself to get overwhelmed.
Attitude: Read my trading affirmations over and over out loud. Read more of The Disciplined Trader: Developing Winning Attitudes, highlighting important parts. Did some writing exercises.
Posted by
Attitude Trader
at
2:08 PM
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Wednesday, August 26, 2009
08/26 SIM [-$780.00] Wed
Today's SIM Net ROC: -$780.00 | 10 trades | 10 cntrcts
Trading: Another rough day. Another day of finding out what I'm made of.
I was successful because I remained disciplined and followed my rules/plan without fail.
Work: Working late again tonight.
Attitude: I really had to work to get control of my thoughts during the session today. I was pretty uptight most of the time but I didn't lose control. Did quite a bit of writing during the session to keep myself in control.
Posted by
Attitude Trader
at
3:01 PM
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Tuesday, August 25, 2009
08/25 SIM [-$240.00] Tue
Today's SIM Net ROC: -$240.00 | 11 trades | 11 cntrcts
Trading: My character was tested today. I didn't lose a lot of money but I felt like I just had one loser after another. I didn't crack and trade outside my rules, but I didn't maintain a very good attitude either.
I know a more relaxed attitude about losing days will come in time though, once I'm able to see that a couple of losing days are not the extent of my career. That's why it's so important to keep with my plan especially now - so I can prove to myself that it will recover. That's how confidence in my method will be built.
Work: Working late again tonight.
Attitude: Used a lot of my exercises and tricks to keep my attitude from really sinking. Read some of The Disciplined Trader: Developing Winning Attitudes during the session.
Posted by
Attitude Trader
at
5:23 PM
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Monday, August 24, 2009
08/24 SIM [-$335.00] Mon
Today's SIM Net ROC: -$335.00 | 8 trades | 8 cntrcts
Trading: Followed my rules/method without any issue.
Work: Working late tonight to pay the bills.
Attitude: Did my usual morning meditation, read my affirmations during the session, even did some reading in between orders. Traded with low tension today.
Posted by
Attitude Trader
at
4:56 PM
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Sunday, August 23, 2009
End Of Week Stats
This Week SIM Net ROC: +$1,210.00 | 36 trades | 47% Wins
Trading: Have you read your trading affirmations out loud today? Have you meditated or done focusing exercises this weekend? Have you visualized the trading you'll be doing tomorrow? Have you eaten well and followed a healthy diet over the weekend so you can be sharp for the session on Monday? How badly do you want to be a consistently successful trader?
Trading related link: This past week Not The Real Thing posted a link for a PBS documentary made in the '80's about Paul Tudor Jones. It's on the Market Folly blog. The production of the documentary is very '80's but it's really interesting.
Posted by
Attitude Trader
at
1:33 PM
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Labels: End Of Week Stats, Paul Tudor Jones
Friday, August 21, 2009
08/21 SIM [+$555.00] Fri
Today's SIM Net ROC: +$555.00 | 4 trades | 4 cntrcts
Trading: I didn't have any trades prior to the report at 9:00CST so I just had to wait with orders in. I had two fast trades when the report hit, but when I was finished with those it got really quiet until late in the day.
I read a quote about trading a long time ago that went something like: "Trading consists of extended stretches of intolerable boredom interspersed with moments of sheer terror."
No terror for me today but I felt like one of my favorite animals - the cheetah. Just sitting with orders in the market waiting for price to come to me so I can pounce on it.
Most people only pay attention to the speed of the cheetah because that part is exciting. But that part only lasts a few seconds.
What they don't pay attention to is the fact that the cheetah spends the majority of its hunting time lying in wait and silently stalking its prey - "intolerable boredom."
Waiting, and waiting, and waiting some more for the right situation to present itself.
Yes, that part is boring, but it's also the most important part. It wouldn't matter how fast the cat was if it just ran around without a plan.
His speed is only a small part of what makes him successful.
The bigger part of his success is his ability to follow his plan. To wait until the time is right. To conserve his energy until he sees the opportunity that gives him the best chance for success.
And even then he only gets his prey about 50% of the time.
The key to his success is his ability to consistently apply his method no matter what.
He may be starving. She may need to feed her cubs. But flailing around doing stupid stuff won't get them what they want.
Only by following a consistent plan can they have any hope of success.
I don't know if I'll catch the prey on this attempt, or the next, or the next, but if I'm consistent with my approach, I know I can be successful over time.
I try to trade like a cheetah would.
Work: Small amount.
Attitude: Did quite a bit of affirmation reading, listening to affirmations, and generally keeping my thoughts in positive places.
Hope everyone has a great weekend.
Posted by
Attitude Trader
at
3:55 PM
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Thursday, August 20, 2009
08/20 SIM [-$10.00] Thu
Today's SIM Net ROC: -$10.00 | 10 trades | 10 cntrcts
Trading: A lot of work today for no return.
But we already know that there is no correlation between a hard day's work of trading and the return (or lack thereof) you get.
If it pisses you off that you worked your ass off today and all the analysis you did last night didn't pan out and your trading system "let you down" today, then you're digging a psychological hole for yourself that will be more and more difficult to climb out of every time you dig it a little more.
Can you be okay with a hard day of trading for no return? Can you be okay with no return on your work even though you followed all your rules?
You'd better be, because this game isn't about fair pay for a fair day's work.
It's about acquiring the appropriate attitude to be able to function correctly in an environment that is categorically different than the "real world" we normally operate in.
Work: I have work to do tonight so I can trade tomorrow but I'm tired and I don't want to do it.
However, one simple question is all it takes to stop the whining and get me moving on what I need to do: "How badly do I want to be a trader?"
Attitude: Did writing exercises during the session and developed more affirmations for my trading.
I got some inspiration today from Fear & Greed Day Trader who has another great post: Prepare for the trading day 2.
Posted by
Attitude Trader
at
6:16 PM
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Wednesday, August 19, 2009
08/19 SIM [+$1,165.00] Wed
Today's SIM Net ROC: +$1,165.00 | 8 trades | 8 cntrcts
Trading: Felt like I got whipped around like a rag doll in the morning but stuck to my rules/plan nonetheless. After the choppiness I didn't really want to take any signals but I stayed with my plan and the next couple of trades were nice winners. More reinforcement that I don't know what's going to happen next and I just need to follow my rules.
I made the mistake again of having my profit limit bracket order set at 100 tics and it got hit on my YM trade prematurely, which cost me a few tics of profit. I've remedied that.
I was out of my last trade at 11:32CST and didn't have another signal for the rest of the session.
Work: Pending.
Attitude: Even though I didn't have "real" work today, I allowed one pending job to stay in the back of my mind and keep me a little uptight. That happened because I didn't do as much focus writing during the session today.
Posted by
Attitude Trader
at
4:25 PM
1 comments
Tuesday, August 18, 2009
08/18 SIM [+$500.00] Tue
Today's SIM Net ROC: +$500.00 | 6 trades | 6 cntrcts
Trading: Just another day of riding the tricycle.
I'm following very specific rules right now, with no subjective decision-making, because: 1) it's what I need to do until I develop more intuitive trading abilities, 2) It provides me with the most reliable way to make consistent profits from my trading right now, and 3) I'm developing the characteristics that are crucial to successful trading no matter what method/style is used.
Some of those characteristics are: A) absolute trust in myself to do what's necessary when it's necessary, B) discipline to follow my rules/method even when it's going through a rough period (which all methods do), C) the unquestioning belief that I don't know what's going to happen next and that trading is just a probabilities game, D) that my success isn't about the system/method - it's about me and my attitude toward the market and trading, and E) the complete confidence that I really can make consistent profits from my trading over time.
Work: None.
Attitude: Morning meditation. Writing exercises during the session. Constantly reminded myself of my long-term objective: to develop the mindset necessary to trade in a consistently appropriate way.
Posted by
Attitude Trader
at
3:41 PM
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Monday, August 17, 2009
08/17 SIM [-$1,000.00] Mon
Today's SIM Net ROC: -$1,000.00 | 8 trades | 8 cntrcts
Trading: I had a difficult start to the day. By 11:30CST I already had five full-stop losing trades in a row. And it didn't get any better.
It's these kinds of situations that make you start thinking that the market is out to intentionally and specifically screw you.
It's also in these kinds of situations that you can find out what you're made of.
Do you abandon your method after five losing trades in a row because it isn't working? Do you begin to revenge trade because the market is screwing you? Do you find justifications for trying a different method or something recommended by someone else during the trading session?
Or do you clear your mind, focus on your long-term objective, and continue to follow the rules that you've set for yourself?
I did my writing to focus my thoughts. I relaxed to clear my mind. I stayed with my plans and stuck to my rules even though it was difficult.
Mark Douglas makes an analogy in the audio presentation that I have in my sidebar that I'm reminded of today. It goes something like this:
"A salesman knows that out of 100 sales calls he makes, he may get 3 or 4 sales and the rest will be rejections. But before he starts calling he has no idea which calls will be sales and which will be rejections so he has to just start calling and see what happens.
"So the good salesman will make a call, get rejected. Make a call, get rejected. Make a call, get rejected. But he sees each rejection as one step closer to a sale and so each rejection actually motivates him to continue until he gets a sale.
"The mediocre salesman on the other had will make a call, get rejected. Make a call, get rejected. Make a call, get rejected. And before you know it he's out drinking his lunch."
The difference is simply attitude. Today may have been a rough day, but it doesn't define me as a trader. And tomorrow is another day with more opportunities to "make a sale."
Work: None.
Attitude: Meditated before trading as usual. Did quite a bit of "focus writing" during the session. I took specific actions (writing, relaxing, etc.) and made a point of continually reminding myself of my long-term objective and that days like today are just a part of the game.
Posted by
Attitude Trader
at
3:05 PM
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Saturday, August 15, 2009
End Of Week Stats
This Week SIM Net ROC: +$3,165.00 | 19 trades | 79% Wins
Posted by
Attitude Trader
at
7:40 AM
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Labels: End Of Week Stats
Thursday, August 13, 2009
08/13 SIM [+$1,120.00] Thu
Today's SIM Net ROC: +$1,120.00 | 8 trades | 8 cntrcts
Trading: Hard work today managing positions. Had one error where I got in a bar too late on a trade. A bit choppy toward the end of the session. Had to exit my last two positions at 15:10CST before the close of the session. Except for the mistake I followed my rules well today.
I'll be on the road tomorrow moving my daughter back to school for the fall, so no trading.
Work: Took work off today to trade and pack for tomorrow.
Attitude: Meditated. Did writing during the session to keep myself focused on my objective (which is to follow my rules). Will do more later today/tonight. Did a good job keeping the focus of my thoughts on positive subjects.
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Attitude Trader
at
3:26 PM
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