Just a bad case of laziness (also busy at work, and a few vacations). I just posted my results for the last 3 months. I still journal all my trades nearly on a daily basis. I highly recommend it to everyone who trades. I still rate my trades for entry, exit and anything I during the trade. I color code the results and the ratings so anyone looking at the spread sheet can see if I am doing good or bad at a simple look.
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I had a bit of a mental melt down during the last week of September and the first two weeks of October. I had a small gain going into that period and decided to go big and it really messed me up.
By the time mid October was here, I had dig myself a big hole both in money and mental stress.
At that point, I went thru the "why am I doing this" once again phase that I have gone thru so many times. And once again I slapped myself and got my shit together and nearly turned it into a winning month.
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Since that time, I have been doing well. Novembers big numbers are a combination of short term trades and a longer term swing I sold for a nice profit.
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It is frustrating to sit knowing I have a setup method that is good enough to produce 80% winners using a one point ES target and a two point stop loss. So that even if I did not try to manage the trade, I should make money - (8 * 50 = 400 minus 2 * 100 = 200 total plus 200 take out 45 for commissions and the net is 145).
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Once in a while you cut your lossers before the two point stop, and you add contracts allowing some once in a while to run more than the one point goal and you are even making more money.
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The bottom line is, the system does not need to be changed, there is enough money in the account to do the trading, so the only thing left is to fix the mind.
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I wonder how many traders know that they have a winning system but not a winning mind.
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5 comments:
Denarii- unrelated question. Do you know a Lars Steffensen, manager of Ebullio Capital Management in the UK?
thanks.
I am earning good amount from stock future tips by investing a little amount in it.
Thanks man! Perfect timing (as you can see)... your material is exactly what I needed to review.But would be more good if you can put contents like epicresearch.co.So grateful you've done this.
It will be helpful for me if you give intraday SGX signals through this blog.
Great article ! Being a solo retired. I just do regret you didn't publish it 20 years ago, maybe it would have helped me to retire in better conditions than I did. Thanks anyway, for others...
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