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Old 09-18-2012, 12:51 PM   #9

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Re: Performance and Focus

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Originally Posted by DbPhoenix »
That depends on the "plan". Or what one is calling ''the plan". If the plan is to go long if price is going "up", or short if price is going "down", it is not likely that one is going to be placing that down payment on that Jag at any point in the foreseeable future.

Given the number of threads that have addressed this plan business just over the past few weeks, I can't help but feel that we're beating a dead horse. Just about everyone seems to acknowledge the fact that a plan is (a) necessary and (b) desirable, but few (i.e., practically nobody) wants to actually develop one, or at least one which goes beyond wishful thinking. But how does A persuade B to develop a plan when B doesn't really want to? Does A wait for B to run out of money and turn to the development of a plan out of desperation? Or does A wait for B to come to the realization on his own, eventually, that a plan is necessary? (Given the fact that traders can go on for 15 years or more without making any money, this could be a long wait.) And why should A care one way or the other?

A student will learn what he needs to learn when he reaches a point where he sees the need to learn it, whether it's the formula for determining the area of a circle (like when he has to lay down a pad for a hot tub) or how to drive a stick shift or how to mix concrete or how to develop a trading plan. I find it supremely ironic that people begin trading to make money yet do those very things which will prevent them from making the money that they allegedly began trading to make.

One cannot save people from themselves. But this doesn't stop the good-hearted from trying.

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Well Db, whilst the plan is critical it wasn't my intention to start another thread solely devoted to plans. I suppose if you take a broader view of a plan (which I believe you really should, but many don't) rather than covering trading only, then including all the aspects I mention which help me to focus makes sense and I guess this thread is all about plans! Omg. lol.

Anyway, when it comes to people not taking the time to actually do a proper plan (and to plan how to actually follow the plan), I'm sure you know Db that there are many reasons why people don't do it. There are those who say they get it but really do not. So the value they place on it is vastly diminished compared to what it should be. There are those who really don't get it and think a plan is dumb and pointless. They just can't see how it's helpful for whatever reason.

Either way, in talking about it in various different ways - and really there are only so many core topics in trading which are important however you spin it - another person might just have that lightbulb moment. People are can view the same idea so differently that all it takes is someone to present it in a way that penetrates their core. You might say to someone "you should plan because of A, B, C" with really good logic and yet the person does not heed that wisdom. Then I or someone else says to the person "you should plan because of X, Y, Z" which in essence is exactly the same thing and the person gets it. Or maybe if we fill the interweb with enough sound knowledge again and again, something will just eventually click. Of course there are those who will not ever get it, but then if they don't try...
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Old 09-18-2012, 12:59 PM   #10

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Re: Performance and Focus

You sunshine optimist, you

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Old 09-18-2012, 01:32 PM   #11
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Re: Performance and Focus

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People are can view the same idea so differently that all it takes is someone to present it in a way that penetrates their core. You might say to someone "you should plan because of A, B, C" with really good logic and yet the person does not heed that wisdom. Then I or someone else says to the person "you should plan because of X, Y, Z" which in essence is exactly the same thing and the person gets it. Or maybe if we fill the interweb with enough sound knowledge again and again, something will just eventually click. Of course there are those who will not ever get it, but then if they don't try...
sounds like a conversation between my partner and I...... The one where you loose focus after a few minutes

(Aside - my trade did not work out, I exited at a three tick loss - not a bad result in my book, whereas someone might have been happy to take 10-15 out of it in a variety of forms, or a partial profit etc....I am greedy, I want more than a Jag, and will be likely to go at it again...but thats only because of the voices in my head...)
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Old 09-18-2012, 02:12 PM   #12

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Re: Performance and Focus

At least you're honest with yourself. I love these guys that post losing trade after losing trade then at the end of the day post something like Well, I met my profit target for the day so I guess I'll wrap it up and go dust the Bentley. Or whatever.

I guess they met their profit target in some other timeframe. In some other market. In some parallel universe.

Not to go off-topic or anything.

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Old 09-18-2012, 02:20 PM   #13
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Re: Performance and Focus

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At least you're honest with yourself. I love these guys that post losing trade after losing trade then at the end of the day post something like Well, I met my profit target for the day so I guess I'll wrap it up and go dust the Bentley. Or whatever.

I guess they met their profit target in some other timeframe. In some other market. In some parallel universe.

Not to go off-topic or anything.

Db
in my universe the only thing i am dishonest about is the 5 mars bar wrappers on the desk ---- I swear i only had one.

I should have stuck with the theme --- I sold at the top and shorted there, made 20 ticks, screwed the girl, made love to the dog and was given an award for bravery.....unfortunately my universe is a little more dull drab and full of little losses, nervous times and waiting around - much like a dentists surgery.
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Old 09-18-2012, 02:28 PM   #14

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Re: Performance and Focus

At least you can GET Mars bars....

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Old 09-18-2012, 03:29 PM   #15

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Re: Performance and Focus

But getting back to the subject of the thread, trading gets to be pretty routine after a while. There are ways of jazzing it up, but whether or not one does so depends on what he wants out of trading. I begin the day by waking up, which becomes increasingly more difficult as the night lasts longer and longer (I pity the traders in California, much less Hawaii). Once my eyes are able to focus, I bring up the chart and see what's happened overnight. If as today I find that we're back in the same trading range we were in the day before, my hopes are not high. Be that as it may, I find the boundaries of the range and do nothing until we reach one or the other, having worked out in advance what I will do if and when price reaches one of those boundaries and either reverses or breaks out.

Inbetweentimes, I read.

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Old 09-18-2012, 05:24 PM   #16
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Re: Performance and Focus

…seems we’re discussing two different subjects
1 OP started regarding ways to sustain ‘focus’ when it’s needed
and then it veered off onto
2 ways of minimizing need for ‘focusing’ /and duration of time(s) in 'focus'

To me, the two topics do not seem to be related sufficiently to discuss well in the one single topic
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