My Trade Journal

[VJAY]

shared by Tuna

The difficult choices a trader has during his position making loss -

1. Get out quickly if SL Hit or setup failed
2. Hold on it will come back
3. Average out
4. Not much money; lets buy some OTM options against current direction so that can make most out of the reversal

Except 1 , rest are the way to the cave of dead skulls

 

[VJAY]

https://www.youtube.com/attribution_link?a=1w6b3zfNTLU&u=/watch?v=Jj4nJ1YEAp4&feature=share

"Know when to hold them
Know when to fold them
Know when to walk away and
Know when to run
You never count your money
when you are sitting at table
there will be time enough for counting
when the dealing done"

 

[VJAY]

 

[VJAY]

 

[VJAY]

 

[VJAY]

Great post by Tuna about trading mind ....

Strong will (or trading mind) - is it require for trading? Yes.
Can this be developed in isolation - No!!!!!!!!

How much you may try, you are genetically programmed to follow your instinct and that only can be altered by your habit. Let’s take an example:

Consider you are a smoker (and a trader). You somehow have realized that for your family, your kids, its better you take care of yourself, so that you last longer. But somehow you cannot quit smoking regardless of the 'effort' (that you feel) you are putting in.

If this is the case, when you will enter trading room - do you think suddenly you will be having the will power like Neo ( I hope it explained my Profile pic in this forum ) and will fight the ‘machine world’.. arrrm, your ill-habits in trading - like wrong entry, violating system, wrong position size etc etc.

Trust me - this fking thing (willpower) does not work this way. You have to change yourself as a person to make it easy for you to remain calm in the war-room.

So next time - instead of beating yourself dead for failing to follow your trading plan - see if your “off-trading net practice” was ok or not – and that got nothing to do with trading.

I know I might sound like a moron here - but this what I did:

1. Quit Smoking - Yes (I smoke in parties though, I kept that window of discretion – once or twice a month, down from daily 10 times)

2. Drink Plenty of Water- I hardly used to drink 1.5 L a day, now it is 5 (need to go to the WC more frequently, but thats fine)

3. See the sunrise daily - My bio-system was screwed due to my travel across different time zones. But now, whatever it takes, I do this. I can miss my trade, but I don’t miss my date with the Orange Bro on the Eastern sky. It is addicting

4. Meditation - trying - not yet regular

5. Gym - was regular, gone for six, enrolled again

6. Was scared of water – Learnt swimming and can stay in a pool for an hour now

There may be guys who are successful in trading without doing anything special. But I realized a strong mind only can reside inside a strong body - which follows discipline. When someone (in my inner circle of traders where people know me in person) mocks me - "here comes the Algi (due to its green color)" - I actually feel, that I have earned it.

Cutting it short - change yourself as a person if you want to change your trading habit. My 2 cents - you may give to a beggar, if you are already a winning trader without following discipline in your daily life. You are a born trader. Morpheus will meet you soon

 

[VJAY]

 

[VJAY]

 

[VJAY]

Nice post by TUNA...about contra trades


Trading Psy Ops # Set your Goal high, but keep your feet grounded.

The Robinhood of Trading


Of his all of the valuable suggestions - these are the keys to me:

"The Defense is ten times more important than Offence. The Wealth you have can be so ephemeral; you have to be focused on the downside at all times"

"You've only got to remember two things. The first is, you always want to be with whatever the predominant trend is...."

This image has been resized. Click this bar to view the full image. The original image is sized 863x547.



Very Good Read - Don't miss it.


See, shorting is not a problem. In all my trades since last 30 odd, I am short on Crude (Except 1-2 contra - will stop those). The instrument have to be bull or bears territory to let us decide what is the higher probable one.

Why I am posting this repeatedly (Contra bashing) - If I can make at least 1 member here to do away with the habit of calling a top or calling a bottom , I will think I have contributed enough to this forum. Just try this. The result will be in front of you. Only cost you need to pay - during the days of contra, you will have not trades (even when you know contra will win), like this-

But this kind of sacrifice makes your resolve stronger for an upcoming session, where people will try to call top again and your bet will be against them - and you will be winner !!

 

[VJAY]