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

A little risk management saves a lot of fan cleaning!

The Purpose of Life is Joy!!

Wednesday, April 12, 2017

Scratch Day

Took a full size stop early on the stop run...much like yesterday then was able to recover prior to and after the inventory number scaling in and out of positions with smaller size. Finally had to close the last of it prior to walking out of the house.

I get back to the computer only to see my ultimate target, yesterday's 50% level hit after I left.

Pretty choppy today and yesterday....well actually for quite a while now. But I am seeing stop runs better....I'm not capitalizing on them yet but if I'm the victim like yesterday and today, I at least recognize it for what it is and then play off that for the recovery. The key is to see it before it happens and capitalize on it instead of being taken advantage of.

Yesterday and today I did something I haven't done in ages. I stuck around AFTER I was down. In the past, if my first couple of trades were losers, I'd pack it in for the day so I didn't lose to much money. Now I am being more aggressive in trying to recover that. I am doing that by starting small and scaling into and out of trades while I wait for a larger type trade to happen. Yesterday I was able to get that larger trade but not today. Happy with mostly a scratch. I'm up probably $50 after commissions.

On Monday, I did a detailed journal post. I got a lot of feedback about how that might be counter productive in some respects. After thinking about it, I decided to just keep that portion of the journal private. At the same time, I've forgotten to log the trades yesterday and today in the spreadsheet which is something I want to make sure I do from now on....so after this, I am logging all those trades and begin tracking the scales in and out as well as the win rate and expectancy.

Cheers....




2 comments:

  1. hey man, glad to see that good day you had this week. that last trade though was tough. i've been there.

    i wanted to comment here because you talked about journaling and the subsequent feedback you got. I for one, think that the more in depth your journaling is, the more helpful it is. If anything, I believe that journaling is the mind's way of practicing, anticipating and articulating the confusion of the business. Of course, there's always a point where too much of any one thing becomes counterproductive but even if you want to keep the journal private it's still a good idea.

    it's said that the people who do best at solving their problems are the ones that can "clearly define" them. in taking the time to journal, you are allowing other points of information to be baked into what your eventual strategy will be. the result is that you gain more clarity with each passing day that you trade.

    i personally appreciated you writing out your thought process in those trades. i suppose the degree of precision may have led to the thought that there was "too much thinking and not enough doing" but to me, trading is the simultaneous function of both while forcing yourself to be comfortable with whatever the outcome will be.

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  2. btw, i'll also copy/paste this response to my page in case it doesn't turn up here but i like what you said about resting in The Creator. i've learned that in the end, it's really his word that matters and nothing else. I'll check out The Shack book you mentioned. I didn't watch Ben-Hur yet but I did watch Gods & Kings and it was pretty respectable. Christian Bale does a good job of carrying movies that would otherwise have been flat if another actor played the lead role.

    may your observance of today be a peaceful one and i wish you and your family a blessed Easter Sunday!

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