I used to hate the first 4 months of the year. They almost always suck. But now I'm going to have to blacklist April and Oct, and very likely Nov and Dec as well.
I'm officially down to having no good months!
It has gotta be me.
I'm aimless.
Trading has gone from bad to worse. I have gone from having a plan each day before going into the market to impromptu trading.
And when I used to ask NQ when it will plunge, I'm now actually EXPECTING it to (Thanks, Harry, for pointing out...).
I can't settle on a trading timeframe, and I have no idea where to put my stops. Been scalping a fair bit, but am still not getting a good feel of NQ's rhythm.
And I threw away my charts.
I'm going to have to come up with a list of crazy things that I might do next and have D make sure that I don't do them!
I'm all over the place. And knowing that for a fact isn't helping.
Being in denial was so much better.
I really have to find my balance and focus AGAIN.
How many times do I have to do that a year??
Oh, LIFE, PLEASE, just stop throwing me curve balls!!!!
4 comments:
When all is lost... when focus is hazy... go back to basics....
Hi,
Market is changing its stripe. Who would have thought a communist country is coming to the rescue when market is in trouble. I just went to a trading seminar and the speaker said he is no longer using TRIN indicator since it is no longer working. On the reading side, check out this NQ trader he had been trading NQ excusive for a long time http://www.daytradeemini.com/blog/
another NQ system
http://amibrokerfan.blogspot.com/2007/09/todays-nq-chart.html
Jules,
I strongly suggest performing some "self coaching" for yourself ala Brett Steinberger's "Enhancing Trader Performance". No Brett isn't paying me anything (wish he was) for saying this. This book is the bible of short-term trading IMHO.
Spend 2 hours each nite after the market is closed doing tick by tick simulation (if you don't have a platform that can support that I strongly suggest looking into NinjaTrader or NeoTicker).
Do drills. Focus on identifying your setups during one set of simulations. Then focus on nothing but the mechanics of your entries. Then focus on nothing but the mechanics of your exits.
Now speed up your drills to 10 or even 20X actual speed. Repeat. Do this every nite and it will get you back on focus.
If you have a bad day or a good day go back and re-simulate that day to either correct what you did wrong or remember what you did right. Otherwise go back in time enough so that you can't remember what occured during that trading day.
I strongly recommend this and have seen the results. Remember you are a trading athlete. You don't win football games without practice.
LT
Sea, you're so zen...LOL!!
Cory,
Thanks for your note.
I know about daytradeemini and do read his blog. A disciplined trader who stays out of the market too often :-) Yes, TRIN stopped working about the time I started trading. Like many other indicators, it simply lost its effectiveness without warning. Market has really evolved. But my problem is not that I've not adapted to changes in the market - I haven't traded that long to know what it was like before anyway. Guess I'm going through a phase that every new trader has to go through: the "completely lost" phase...
LT,
Thanks for your suggestion. Yes, I'm definitely going to finish reading Dr Brett's blog on self-coaching. Tick-by-tick simulation sounds interesting. Yes I have Ninja Trader. Will give it a shot :-) Thanks so much!
Post a Comment