Keep Calm and Don't Move Your Stops.....

A little risk management saves a lot of fan cleaning!

The Purpose of Life is Joy!!

Friday, May 26, 2017

Crow does not taste like chicken

They say if you eat enough crow, it eventually starts to taste like chicken. "They" whoever that is, lies. Crow does not taste like chicken. It tastes like crow.

I suppose I am not exactly eating crow since I try not to brag to much or act like I know it all but I did write that I could not lose in January and I was pretty proud of it. But the last few days and weeks, It seems like I can't win at all. (hint, its the monkey brain at work only now I can feel him turning cartwheels in my brain).

I traded a little bit every day this week. I did not have a winning day at all. I did have a few nice wins but all they did was offset the losers. I ended up down 2RR for the week on 16 trades. I went back and counted the actual trades that I SHOULD have taken and there were only ten....2 per day essentially and I think I only took 2-3 of those. The rest were wanna be trades. Something I did just because I was behaving stupidly. I kinda sorta got hold of myself last night and today and I think I might actually have a handle on it. We will see next week.

One thing for certain, I have a huge short bias on right now and its pretty darn hard to shake it. I'm going to try some meditation and see if that helps with being directionaly neutral.

A friend pointed me back to Adam Grimes and I had signed up for his free trading course a year or so ago and never did it. I started it this week while I have been working on my other project and it has been helpful. I will put more work in this in the coming weeks and months.

Have a great weekend.

Tuesday, May 23, 2017

"Massive Action"

While I'm working on this project, I have time to watch you tube videos and I've noticed something. All the motivational type speakers all advocate taking "massive action" toward your dreams. I mean I love Tony Robbins stuff and he's the most vocal advocate of taking massive action out there. The whole idea is to connect your emotions to your actions. I agree with this in principal and with most types of businesses. However, there is a disconnect in my opinion. 

How do you take massive action in trading? I mean, emotions can kill your account. I know you cannot eliminate emotions from trading and I'm not searching for a way to do this but honestly, what does "massive action" mean to a trader? I'm open to comments and suggestions. 

No trades last two days for me either. Monday I was super sick with a stomach bug and today I overslept as a result of not sleeping yesterday from the stomach bug.

Friday, May 19, 2017

Holy Grail Found!!!!

I have found the Holy Grail of Trading!! There is a story in the holy scripture that talks about a man who is walking through a field and sees a treasure worth many millions of dollars. He goes home and sells all he has to raise enough money to buy the field. Once he has purchased the field, he is filled with joy over his good fortune. The funny thing about this story is that the treasure was hidden in plain sight.

Such is true of the Holy Grail of Trading. It's hidden in plain sight.

What is this Holy Grail you ask? It's not a magic indicator or some system that has a positive expectancy. No it's far simpler than this. The Holy Grail is not external or on the charts. It's internal.

The Holy Grail is simply put; Patience. Patience is the holy grail. Think about it and you will realize the power of this knowledge.

The treasure hidden in plain sight. Earl Nightingale's Field of Diamonds. Right under foot and we don't see it.

I think I would be rich today from my trading activities if I had actually sold everything and bought the treasure of patience.

Time to change.

Thursday, May 18, 2017

Quick update

I'm buried but thought I would do a 2 minute update.

1. I am neck deep in the project I started last week. This is at least a month long project and perhaps several more.

2. I am still trading (poorly) Last two weeks have been net draw down. My own fault. I was short all day today....against all common sense and indicator crutches to the contrary. I continue to trade against the crutches and I continue to mismanage perfectly good trades.

3. I am taking tomorrow off from trading. I need to process nearly ten days of losing....small losers to be sure but losers nonetheless. Combined, they represent a nearly 5% draw down from the equity high.

4. Its not the system or method. Its me. I feel WAY out of the zone compared to the week I made $5000.

5. Meditation has gone great...mostly. I had a great winning day in the middle of all this losing and I visualized a super winning day prior to it starting.

6. I should get my car back in a day or two after the shop has completed the repairs it needed after being stolen almost 2 months ago.

7. I won't be posting very frequently due to the project I am working on. If you want to know, its a forensic project on a major mortgage fraud case involving one of the largest US banks and a REIT. Its boring and tedious but it pays really well. Its like looking for a needle in a very large haystack. If you ever wonder why litigation costs so much, its because of work like this. Paying lots of people really good money to find evidence that might not be there. I working on a file right now that has 253 documents inside it and each document has between 5 and 75 pages with the occaisional 175 page document. This one probably has 1200-2000 pages in it. We are doing a sample of 800 of these files with 7000 more to follow. Millions are being spent just to find evidence. Fun times.

8. Stay tuned and hopefully you are trading better than me.....

Thursday, May 11, 2017

Scratch Day

Today was very interesting. I felt in control, I was patient with my trades when I needed to be and impatient when I needed to be. My only mistake was hesitating on the 3rd sequence. I didn't really believe it when the add on location happened exactly as I had visualized and I recognized it 2 seconds to late. I threw the limit order on but it was already gone so I tried at a lower price to get in and while I was filled, the trade ended up BE on the entire position.

The rest of it was just testing the water, letting it play out and getting out when it wasn't working any longer and the tape turned against me.

Today was a training session for me with my new consulting gig and I will put in some hours this afternoon and evening but tomorrow it starts in earnest. I'm going to try and get in 10-12 hours a day for the next month or so only resting on Sundays. After that I suspect the project will slow down for another month or two. In all honesty, it looks like the project could turn into a 3-6 month project depending on how detailed the client wants to be and how many actual files the client is required to review and deconstruct. If it goes longer than a couple of months, I'll make a fairly large sum of money and that is a good thing.

Cheers and this is probably my last post for the week.