I had GREAT executions today in terms of trade locations....those green boxes, all entry areas. I even bought .10 when it spiked down only to be shaken out on the slow price action.....I kept trying multiple times in these areas....some scratched, some small losers and some small winners....No follow through....
And then, I bought one last time in the last green box. I held it for what seemed like way to long considering it sure looked like it should take off right away....and finally I decided it wasn't going to and bailed for a tiny winner....only to see it blast off on the NEXT bar. To say I was pissed was an understatement. This doesn't happen to me near as much as it used to but it still happens enough that I should have figured out something by now, as long as the trade premise is valid, just hold it.....but sitting there watching it fart around drove me nuts today....lots of five minute bars with less than 10 tick ranges....it can be infuriating.
Once it blasted off, I knew better than to sit there and try to find another trade. I'd trade out of anger and boredom and that is an account killer. So I just walked away.
Yes...the dreaded scenario where expectation wears our resources down so that we hold out for 95% of the time required, only to see the market move 2,3 or 10 times the distance it covered in that time in the 5% when we weren't in it! I've noticed that I'm more likely to do this when I'm not engaged in something else...at least periodically (I know you mentioned YouTube...I use that and calisthenics...might as well get in a workout while waiting!).
ReplyDeleteRe: NT8. The look of the charts is very IB/TOS, which I really missed when I moved from IB to NT in 2014 (NT7 is very "matte") but I, like you, didn't like the fonts and a few other bits.
I spoke to a performance coach today. He suggested binge watching Netflix/Youtube/exercise/a book/etc. I am already doing some of that at Sandy's suggestion. It has helped. I need to take it to the next level.
Deletehi what is the white dash line on the chart? some sort of volatility stop?
ReplyDeleteNT8's memory issues seem to be related to third party indicators ported from NT7 to NT8. Still, there's enough about it that I don't like that I will probably not use it.....SC is fast and stable but I hate everything else about it. I mean everything!!!! NT7 is going to be it for me until they stop supporting it!
ReplyDeletethe white line is nothing more than a 50% pull back level. Its kind of a directional filter.
ReplyDelete