Another max+slippage daily loser (smaller than yesterday). Feel disconnected with the crude oil. I have headache, confused, dozens stopped out, dynamic stop losses all failed, green bar won't work. One little undiscipline made me red. Near close rally on the wrong side...
Attempt for discipline, frustrated after dozens stop loss, big mistakes loosening SL and good bye. My strategy today was waiting for pullback and entry.
After inventory report, price were messy. First my green bar told me to go long. Price pullback to median and EMA20 price of the day. Fight very tiring on those area. Price very choppy. Then it went down, so downside confirm. Again, I waited for the price to rally to median and shorted. And again, price broke thorough it again. I am so confuse. The pullback worked was after inventory report, and there's too fast to entry.
The only thing I discovered is my Micro Green Bar worked well. But since there's Major Green Bar, I planned to trade breakout, not fading (Micro Green Bar is fading strategy).
Major Green Bar were a messed. Price faked multiple times around it. So the bright side with today's trade is, I will focus on what's work now: Fading Micro Green Bar. Oh God, I have headache again.
De’ a step back to find perspective on what you’re doing right and what you need to work on is never a bad idea for anybody.
ReplyDeleteHi D,
ReplyDeleteGood advice. I had hard time figuring out the market. It's always change and can't find consistency
Hi De'Trader,
ReplyDeleteMy apologies for having been mean and harsh. I have a very bad temper - please forgive.
I have no logical explanation for my outburst except that you sound and behave so much like your teacher - the C guy that I loathe to the core - that I just couldn't like any comments you made on my blog no matter how hard I tried.
Perhaps I have been reading too much into your "jokes". I'm still not sure what kind of a person you are - I lack the ability to understand people that want to connect with others so much - but I want you to know that I feel bad about your wanting to close your blog, and hope that you will consider calling off the idea.
And I wish you all the best in your trading.
Jules,
ReplyDeleteI am sorry if my jokes are bad. Maybe u're in the bad mood or something. Nobody's perfect. Than you, I am much much have shorter memory near to Memento movies, lol.
About that C-guy, I am just too nice and kind compared to him, lol.
Coincident or not, I had scary losing streak the same time you hate me so you're not really the source of it. Never stop blogging, just take a rest and changed to better fresh new blog. I want to trade Crude Oil exclusively. New blog and new id will be a good thing.
You'll be the first to know :)
So, we're good? I promise I'll be careful posting comment, or if you rather like me not posting at all on your blog, that'll be fine too.
Wish you best of trading success
Yes, we're good, De'Trader :-)
ReplyDeleteOf course you're much better than that jerk. :-) Just try not to use the word "bugger". It's so him! LOL!
My advice to you the last time this happened still stands - stop trading. Stop blogging. You have no emotional control or friendly interface with yourself. You have no edge or system you can follow it seems. The markets owe you nothing and will take everything you've got including your self respect if you continue along this same path with your same ways of thinking. You say failure is not an option. Well you have just put unneeded pressure on yourself to perform. Why trade out of fear instead of trading the most favourable moments?
ReplyDeleteForget about blogging to strangers about what you are going to do. Go do it instead- little step by little step. Actually go and do it. Then congratulate yourself when you do it.
The answers you seek are all within you. Take time out to ask yourself the right questions.
Jules,
ReplyDeleteI promise never used that 'bugger' word again. Never ever... :)
Scott,
As you said so, I had times when nothing to lose is my time. Then I had great time. The pressure to perform is too big. And when the intent to make profit bigger than good trading itself, I screwed up.
Thanks Scott for coming. Really need those. If you can tell me how to stop trading for the day after max losses, I will be more than thankful. I know it's silly question, but when the heat is up, I just forget about everything. Market hipnotize me.
How to stop after max losses? Turn the computer off and walk away from it until the day is over. Then reflect on what happened and what your reaction to it was.
ReplyDeleteThe following day focus on trading one time and completely follow your rules from start to finish. If you can do it once then do it again. If you can't follow your own rules, stop trading until you can.
If your rules are based on folly and inexperience you will continue losing though. There are two important areas to learn about for trading - 1. an edge /system that works and 2.learning about yourself so that you can relentlessly apply your edge/system.
Take your time ( years) to become a good trader.
Thanks Scott, you can read me like an open book. Today I was playin around like fools again. No damage taken, but still foolish thing, again and again.
ReplyDeleteThanks for the advice, I'll stop trading for today and reflect myself on weekend.