[Attila]

Statement for 08/31..

Let me get over the usual.. OVERTRADING IS A KILLER.. The only thing worse than the price action yesterday is how I traded it. I allowed 3 over 7 point profits become scratch/small losses. This is the perfectionist in me not wanting to be wrong as I unfortunately see my relationship the market as VARYING LEVELS OF ERRORS.. i.e. I will be wrong all the time, even when I am right. This is a very difficult thing to deal with when you are a rear view mirror trader. Soooo, just stop doing these wrong things right?...

Next point.. I posted a little "slow Learner" chart yesterday day.. need to refine that a bit... On an entry time frame that is the BEST thing to do, in my hallowed opinion. On the other hand if due to liquor or other issues you must, DO NOT give away your stop... The price WILL get to that S/R price.. Since it's a trade you shouldn't be taking, absolutely take it on your terms.. As if you actually do not want the trade. I repeat, price will get there so getting in early is usually a waste of your stop money...

The odds of 1855 holding were VERY high so I took the trade.. poorly.. Went long 1859 and such a small account cannot afford a 5+ NQ stop. Stopped out at 1855 and 1854.5 was the low. The pain of this trade... (This mental state carried through the day) The point is If I was going to fade, buy no higher than 1855.5 as the price WILL get to the price level.. If it doesn't, FINE!. Another way to put this is place your order where you originally planned to put your stop IF FADING as they will come to get you. The greed/fear button is usually pressed as hard as possible till those suffering puke their positions.

Now ekshay.. let's cry together.. glad to have you around and hopefully we are around longer. At least you traded less than I and are better funded to withstand these losses

Move forward!

[ekshay]

Attila, at my current rate, I'll catch up with you soon enough.
Lost some more today. No decent signals before nor after the news. Great chart, no trades.

Oh. And no further trading for this week. Gotta respect loss limits.

[Attila]

Originally Posted by ekshay »

Oh. And no further trading for this week. Gotta respect loss limits.

I want to be like you when I grow up.. Believe me all you may be missing is more losses.

[Attila]

Statement for 09/01... Until I regain (gain?) self control it's nearly hopeless.

[ekshay]

Originally Posted by Attila »

I want to be like you when I grow up.. Believe me all you may be missing is more losses.

Thanks for the compliment.
And I agree with you.

All we need, is enough losses to uncover our personal patterns of losing, and then STOP doing those things either by changing the system or by managing personal behaviour.

In June, when I made my first major loss, ... it took me 6 weeks to get to the heart of the problem...
What looked like a psychology/discipline problem, actually was a natural symptom of following a Discretionary method.
As an intelligent person, discretion hurt my ego/self-esteem both ways... when I'd let go of an entry & it would work; and when I'll take one & it'd fail.

It took me 6 weeks of testing various systems to realise that this pattern was a System Error, and not a psychological one. For me, it was present in all discretionary methods, no matter the Win rate. I needed a Mechanical system.

So, this time, I have no emotional pain. Losses occur, but they don't hurt me in a way where I question my future as a trader.

Now the only question, as you rightfully pointed, ... whether this current funding can sustain the remaining issues. But, a successful trader, I shall surely become.

The losses on 08/31 were behavior problems. I'll do my best not to repeat them.

Yesterday's losses [09/01] were normal system losses on a weird trading day. Zero emotional reaction.

[SIUYA]

Ekshay - "All we need, is enough losses to uncover our personal patterns of losing, and then STOP doing those things either by changing the system or by managing personal behaviour.
"
So for Attila and Ekshay....
This sentence just reminded me of something I did years ago with a mutual trading friend. we analysed each others trading history, and did not really ask why we did certain things, but we looked at it to analyse from the point of view to give a new approach/an alternative way of thinking to the historical analysis.

eg; while a public forum may just add to the confusion, or make it too public to be honest, possibly its worth actually swapping trading histories with only one or two others who are in a similar situation and giving each other feedback. (without all us)
Such feedback could be - "you seem to be running losses", or "you seem to be taking trades too early", and then having to explain it to the other.

While I think the thread of the race is a very good documentation of the reality of some trading and I hope it continues, I also feel this little bit of private extra feedback can help.

[Attila]

Statement for 09/02.. Licking wounds day. Can barely afford a stop.

[Attila]

Statement for 09/03

Thursday and Friday are days to be repeated as often as possible simply because I was in control. I did what I intended and nothing else. Controlling what I feel about what was left behind may never happen but learning to accept what is and moving on is key to my growth as a trader. Seeing an equity chart such as mine hopefully reminds me of what I can do as a trader but must block out the second half of it.