I felt so terrible about my stupidity, I fell sick for 2 days. After I got better, I took a look at Long & Wrong's chart again. And I got sicker.
The calmness with which he executed his trades is frightening. I suspect LW is a machine.
On Nov 2nd (see, that's another reason I think LW is not human - it totally didn't bother him that it was a MONDAY) took a total of 7 trades within 5 to 6 hours, and out of these 7 trades, only 3 were profitable. He was stopped out 3 times for a loss, and once at breakeven. But he was very profitable by the end of the session.
What amazes me was how fast he recognized an opportunity in what would have felt like a total setback had it happened to me. The first trade he put on was a full stop-out. I gather he was buying either to the trendline he's drawn or a breakout of that trendline. Price went against him immediately - it headed south and didn't even touch the trendine. Once it hit support, an unruffled LW went long again - at a better price (ie. higher R!), and aimed for the trendline. 4.5R. Disgusting.
And after that it was a series of longs and shorts and more stop-outs that didn't stop LW from catching that monstrous move up to his trendline (I think he actually flipped a short, or went long immediately after being stopped out of a short).
This is the part I don't understand: WHERE ARE THE EMOTIONS???
I hated stop outs. I hated them more than I hated having to sit on a losing trade. I would usually feel so awful after being stopped out I would immediately step out for a smoke to cool my head, and miss all those wonderful opportunities awaiting.
But thanks to LW, I shall look forward to being stopped out on my first day back at trading.
UF/LW (why does it even matter, you probably go by model & serial number...), you can now go take another shower. :-D
The calmness with which he executed his trades is frightening. I suspect LW is a machine.
On Nov 2nd (see, that's another reason I think LW is not human - it totally didn't bother him that it was a MONDAY) took a total of 7 trades within 5 to 6 hours, and out of these 7 trades, only 3 were profitable. He was stopped out 3 times for a loss, and once at breakeven. But he was very profitable by the end of the session.
What amazes me was how fast he recognized an opportunity in what would have felt like a total setback had it happened to me. The first trade he put on was a full stop-out. I gather he was buying either to the trendline he's drawn or a breakout of that trendline. Price went against him immediately - it headed south and didn't even touch the trendine. Once it hit support, an unruffled LW went long again - at a better price (ie. higher R!), and aimed for the trendline. 4.5R. Disgusting.
And after that it was a series of longs and shorts and more stop-outs that didn't stop LW from catching that monstrous move up to his trendline (I think he actually flipped a short, or went long immediately after being stopped out of a short).
This is the part I don't understand: WHERE ARE THE EMOTIONS???
I hated stop outs. I hated them more than I hated having to sit on a losing trade. I would usually feel so awful after being stopped out I would immediately step out for a smoke to cool my head, and miss all those wonderful opportunities awaiting.
But thanks to LW, I shall look forward to being stopped out on my first day back at trading.
UF/LW (why does it even matter, you probably go by model & serial number...), you can now go take another shower. :-D
6 comments:
I have never been able to remove the emotion from stop losses. I know they are just a part of the business, but still, they hurt.
Your post reminds me of a post that Solfest/UF/LW wrote back in January of this year, "I am not a human". He/they then backed that up the next day with "I am a human" more than likely to throw off the cyborg hunters. :-)
Oh I'm human.
But LW most definitely a Cyborg.
Although he is Borg I still think he longs (get it, longs) for human emotion.
He is still working to perfect that chip.
Just don't ask me about my mother!
(This is an obscure reference to the 1982 movie "Bladerunner" and the 'VK test'. This kind of subtle, culture-dependent humour proves that I do have emotions. Really I do. Right now after reading Jules' post I'm sat in a lake of my own tears).
I promise to post a 'bad day chart' soon :-)
DT, do what Solfest and LW do. Do the same thing over and over (it has to be something that works of course) and keep records. They will come in handy when you start doubting your method. Should at least keep you loving your stops :-)
Oh, come one, Solfest! You're totally Cybog! Actually, we suspect that you and Solfest are the same entity! You write about the same thing at the same time! Yes, we noticed! LOL!!!
UF/LW,
What about your mother? LOL!!
I'm looking forward to your bad day chart from the past, and hope that you keep having good day charts moving forward :-)
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