I'm seeing my "M" & "W"s. Am tempted to get in but instinct's telling me to stay out of trouble.For this week:
Mon: -USD 150 (P&L details at the end of this post)
Tues: +USD 253
Wed: +USD 283
Thurs: +USD 173
Fri: +USD 173
What I've done very different this week is that I've held my profits a little longer, gotten rid of all the clutters on my charts (anyway, the only time I looked at them was when I was DISTRACTED) and really focusing on just my candles. Gotten rid of my 10 and 15min charts too and trading with only the hourly and 5min. I've traded only the ES for the entire week and am contemplating sticking with just the ES for the time being. Will be studying the Euro futures over the weekend - I like it a lot but there's something about it that intimidates me.
I'm looking forward to trading on the Infinity platform - lots of form filling and I'm glad I'm not the one doing it. Sorry, D LOL!
Will continue to trade single contract for a while.
Still haven't quite figured out if I should continue to watch the market from 7am to 2am (local time). I guess I'll let my body decide.
Won't be capping the number of trades I take per day. Whenever I see a setup I like, I'll take it.
It's apparent that I don't have many rules. The thing about rules is that they invite me to break them.
I'm going to stop fretting over not having a system. I AM the system. It's not ultra sophisticated, and gets a little cranky a little too often, but it's the only thing I've got. So I'm going to make the best out of it.
Apr 13's trades (which I didn't want to post at the beginning of the week coz rows of REDs affect my psychology):
14 comments:
I AM the system.say it loud! and say it proud! ;-)
Nice, clean week Jules. Keep up the routine. Rule based trading is a disaster waiting to happen. Technical analysis doesnt work that way.
Glad you are finding your groove.
I'm personally struggling between discipline and discretion.
"I am the system" - I like that.
Sounds like you had a good week, Jules!
Jules,
Glad to see you finally own that you ARE the system!
Nice trading and way to bring home the bacon.
LT
Cory,
Yes, I'll chant that everyday...well, maybe not everyday. I'll alternate that with I AM the QUEEN!! LOL!
MVW,
I've read your posts on TA, and agree that it's definitely not the be-all and end all of trading.
I see that you've found a style that meets your needs yourself. Your swing trades were awesome! :-)
That said, I think it's important that we not put a label on yourselves. Labels are restrictive and limiting, at best. They cause us to pass up opportunities in a market that's changing from month to month, and now, week to week.
Charlie,
Idon't see disciplined and discretionary trading as 2 separate styles.
By "discipline" I suppose you mean "self-discipline"? If so, then whatever styles/methods you use, they won't work without a massive dose of "self-discipline".
Discretionary trading is not the same as slipshod trading. I notice that you've been revamping your trading rules and methods lately - maybe the exercise is wearing you out and causing you to think that this is what "disciplined" trading is about - rules and steps and checklist? I have nothing against checklists, although i personally don't use them. Sometimes I feel that we have this tendency to treat trading as if it's a sacred activity and we have all this rituals and rites to separate it from the other normal activities in our life and I wonder if that's the way we should approach it.
Phantom of the pits used the analogy of crossing a junction with traffic lights: say you know that this junction is notorious for red-running - the "normal" people would look left and right and left again before crossing even if the light is in their favor. And they will keep doing that even if there hasn't been an incident in a long time. There's a purpose in their checking out for cars - they want to get over to the other side of the road in one piece.
I really love the analogy :-)
So with trading, I would think that everything that we do we should have an objective that comes along with it. We shouldn't have to feel "forced" into doing anything we see no point in doing. :-)
Thank you, LT :-)
Sure took me a LONG time to accept my own style :-)
jules, checked out es. i see what you meant. just a comment. i like your results, if you think it'll help watch al brook's presentation. in mid may. check futures magazine page. (free). i think i mentioned him to you once, maybe not. he trades only th es, one chart one m/a one laptop screen one time frame, 5 min. his emphasis is on size and on capitalizing one the set ups. he trades for four ticks, most of the time but with size, pretty much like miller. he is a price action trader. no indicators. what miller calls "eye candy". and after maby years of donating to "gurus", i've seen results. check him out. his book will be out on the 25th. btw, he does not sell anything, the book came out as a result of people like me wanting to learn more. he is an ophtalmologist, (hope that's right), who has traded for 20+ years. i hope it helps you as it did me. btw if you want the articles. i'll send them
Oh, yes, it was you, Leon! I checked out Al Brooks after you told me about him. I googled him and found out about his book so I placed an order with Amazon. You did mention he traded from his laptop. The rest, I found out only yesterday from the presentation that Cory had sent me. It amuses me that Brooks is a hermit like me LOL! Now I don't feel so bad about ignoring the entire world for 16 hours a day :-)
I did find one article Brooks wrote...but didn't manage to find the rest. Yes, would really appreciate it if you could send what you have. Thanks a bunch, Leon!! I owe you a big one for telling me about Al Brooks! :-)
jules i dont think u can out-hermit me, i only went out on sat and sun last week and that was for a Trader's convention.
all PA all the time;
http://www.james16group.us/Guests/guestmaterial.html
Thank you, Cory!! Checking it out! Yes, the answer's PA all the time! :-)
Sloh,
I only went out on Sunday to have tea with my aunt. My other blood: my sister, my little nieces and my brother - they have to drop by my cave whenever they miss moi :-)
So, I WIN!! Muahahhaha!!!!!
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