Oct 5, Monday
I sat and watch the 6E trade within a 2-point range from 3am - 8am EDT. Didn't get an entry.
Switched to TF at 9:40am EDT, and sat and watch it print 5-points up in 5 minutes. Something told me that it wasn't the typical trending day where price hardly retraces 30% before resuming its way up/down. I kept chasing price up nonetheless. Got used to buying high I guess. Anyway, I was right for a while in the beginning, and very wrong after that.
For the life of me, I couldn't understand at first why a day without news (except for that one miserable release at 10am EDT) could get so erratic. Then I realized that a day without news means no edge for the big guys who like to fade crowd sentiments these days, and without them taking the lead, price's just all over the place. To put it simply, don't expect a chart to be normal when the day's not normal (after almost 2 news-packed weeks with different gods talking almost everyday, a quiet day is definitely ABNORMAL).
Took a look at 6E this morning (9pm EDT), and saw that had I waited til 11:30am EDT yesterday, I would have gotten the entry I was waiting for (a fake breakout on the downside, strong reversal up, finishing high at Fib Ext 161.8). Plenty of news from Europe's side yesterday from 4am EDT on, and the 6E chart was anything but erratic. But I had to trade the TF instead and give away 3.9 points.
Am extremely out of sync with market rhythm and spending every minute of my waking hours and using every ounce of whatever remaining energy I have looking for ways to get back in sync.
Don't tell me to step away, take a break, or read Dr Brett.
I'm moving heaven and earth, breaking my neck, and reading Secrets of Professional Turf Betting.
I am aware that I'll probably not stop losing money, and am totally prepared for a losing streak.
Doesn't mean that I'm going to let that happen.
But it's really not up to me, is it?
I'm not going to stop this time coz breaks are simply not constructive.
Really, how does one learn by staying out?
@ LORD TEDDERS (YOU'RE ALIVE!!!), TST, Scalpwiz, Albert C and UF:
Thanks for the notes you dropped. I've run out of things to say in response. Or maybe it's just coz that it's starting to dawn on me that as far as trading is concerned, there's really not that much to talk about. It's all in the "doing". And we can be doing all the wrong things at one point or another and it's so tiring and meaningless to justify each "wrong" move we make. I'm probably going to be doing a thousand things wrong , a thousand times each - and I'm probably going to be jumping from 1 min to 1 hour timeframe within the same day - imagine the explanation I have to do...Just thinking about it makes me feel like I want to puke.
That said, I'm going to continue recording everything that I do. What I won't do is EXPLAIN & JUSTIFY. I'm NOT going to turn comments off. If anyone tells me I'm a moron (why can't I get that out of my mind???), I'm ready with a standard boring "you're an ass-hole" response.
@Sean:
I'm not using TOS. D is the one using it. I use Sierra charts and trade on AT platform. If you're looking for good rates and superb service, send an email to Anthony (Infinity Futures) .
His email address: a.giacomin@infinityfutures.com
I sat and watch the 6E trade within a 2-point range from 3am - 8am EDT. Didn't get an entry.
Switched to TF at 9:40am EDT, and sat and watch it print 5-points up in 5 minutes. Something told me that it wasn't the typical trending day where price hardly retraces 30% before resuming its way up/down. I kept chasing price up nonetheless. Got used to buying high I guess. Anyway, I was right for a while in the beginning, and very wrong after that.
For the life of me, I couldn't understand at first why a day without news (except for that one miserable release at 10am EDT) could get so erratic. Then I realized that a day without news means no edge for the big guys who like to fade crowd sentiments these days, and without them taking the lead, price's just all over the place. To put it simply, don't expect a chart to be normal when the day's not normal (after almost 2 news-packed weeks with different gods talking almost everyday, a quiet day is definitely ABNORMAL).
Took a look at 6E this morning (9pm EDT), and saw that had I waited til 11:30am EDT yesterday, I would have gotten the entry I was waiting for (a fake breakout on the downside, strong reversal up, finishing high at Fib Ext 161.8). Plenty of news from Europe's side yesterday from 4am EDT on, and the 6E chart was anything but erratic. But I had to trade the TF instead and give away 3.9 points.
Am extremely out of sync with market rhythm and spending every minute of my waking hours and using every ounce of whatever remaining energy I have looking for ways to get back in sync.
Don't tell me to step away, take a break, or read Dr Brett.
I'm moving heaven and earth, breaking my neck, and reading Secrets of Professional Turf Betting.
I am aware that I'll probably not stop losing money, and am totally prepared for a losing streak.
Doesn't mean that I'm going to let that happen.
But it's really not up to me, is it?
I'm not going to stop this time coz breaks are simply not constructive.
Really, how does one learn by staying out?
@ LORD TEDDERS (YOU'RE ALIVE!!!), TST, Scalpwiz, Albert C and UF:
Thanks for the notes you dropped. I've run out of things to say in response. Or maybe it's just coz that it's starting to dawn on me that as far as trading is concerned, there's really not that much to talk about. It's all in the "doing". And we can be doing all the wrong things at one point or another and it's so tiring and meaningless to justify each "wrong" move we make. I'm probably going to be doing a thousand things wrong , a thousand times each - and I'm probably going to be jumping from 1 min to 1 hour timeframe within the same day - imagine the explanation I have to do...Just thinking about it makes me feel like I want to puke.
That said, I'm going to continue recording everything that I do. What I won't do is EXPLAIN & JUSTIFY. I'm NOT going to turn comments off. If anyone tells me I'm a moron (why can't I get that out of my mind???), I'm ready with a standard boring "you're an ass-hole" response.
@Sean:
I'm not using TOS. D is the one using it. I use Sierra charts and trade on AT platform. If you're looking for good rates and superb service, send an email to Anthony (Infinity Futures) .
His email address: a.giacomin@infinityfutures.com
12 comments:
Relax Jules,
Everyone has those days...I had my schooling today...not just a loss but a mauling at relentless uptrend that I kept shorting like an amateur.
Needless to say, an ugly day on my bottom line....
Market's way of telling me to never assume anything or have any bias....
On to tomorrow.
>looking for ways to get back in sync.
Or you can watch D and feel proud of your teaching ;)
I tread the bad comment as a chance for me to practice my emotional control very helpful in taking a stop scenario.
If there is one thing that I hate it is people with a mind of their own ;-)
[^^^ irony, for those who haven't spotted it]
We're all rooting for you, Jules. Keep fighting.
Sandy :-)
you've graduated, I haven't!
Sorry to hear about your day. It seemed to be a really bad day for many. We should boycott mondays :-)
LOL! Cory, yes, nasty comments are good for me. I mean, no one has ever called me a moron before that. It's a refreshing experience indeed :-)
I'm a lousy teacher (I was told I should teach very bad kids so they can get a taste of their own medicine LOL!), luckily D's always a bright student :-)
UF :-) Yes, we are aware of your love-hate relationship with Swamiguru ;-)
MVW! :-)
Thank you! I'm definitely fighting ME. :-)
How have you been?
I'm doing well, Jules. My trading is coming along nicely and I'm optimistic going forward.
I sort of feel like JE when he said he wishes he could discuss it more. BTW, have you heard from him?
Thanks. I'm looking into Infinity Futures.
I've enjoyed reading your blog, so I'll offer something in return (hopefully it's worth something to you)...
You said,
"I'm NOT going to turn comments off. If anyone tells me I'm a moron (why can't I get that out of my mind???), I'm ready with a standard boring "you're an ass-hole" response."
This is an interesting subject. Have a listen to this podcast: http://www.freedomainradio.com/Traffic_Jams/FDR_1455_Compliments_Convo.mp3
The basic though on this subject is that opinions affect us deeply when we're looking to other people to form our own identity -- which is natural for children to do, but most people get stuck in this young identity forming phase because of negative or no attention from their parents.
I'm not making any assumptions about you, but this is an extremely common phenomenon. Give the podcast a listen and see if it fits.
MVW,
No, I've not heard from JE. I'm going to write him to find out if he's alright. It's strange isn't it, that no one's talking about his disappearance and going underground suddenly?
Maybe it's just me. I notice silence....
Sean :-)
It's not that.
It's just that I really hate it when an ass-hole calls me a moron.
But thanks for the link :-)
Hope you manage to get Anthony?
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