Breakthroughs

[TinGull 10]

Well, today I experienced what feels like one of the biggest breakthroughs I've had in a LONG time. I was chatting with MrPaul so I owe it to you for showing me some things. First, why did I need the breakthrough? My losing streak was too big! Something wasn't right. What had changed? Had the market changed? Well....not really. It still ebbs and flows. It's been a little weird lately, but not enough for my setups to never work. Paul asked me why I didn't think they were working? Was there something that was making me hesitate? Or something taking my focus away? I thought...I've been trying to learn the tape. I'd been trying to base my trades on watching the tape go by, and since I haven't learned that at all and was trying to base trades on it, my losses were stacking up.

 

So, the point to all this is when you're adding something new to the mix for yourself, do your hard work and really understand what you're looking at before you make trades based on that new information. Without the full understanding of it all, one may be making mistakes. I did, and it cost me a bit. More mental frustration than anything. BUT, I've got my head back on straight and I'm ready to take the market back on tomorrow!!

[MrPaul 10]

Well, today I experienced what feels like one of the biggest breakthroughs I've had in a LONG time. I was chatting with MrPaul so I owe it to you for showing me some things. First, why did I need the breakthrough? My losing streak was too big! Something wasn't right. What had changed? Had the market changed? Well....not really. It still ebbs and flows. It's been a little weird lately, but not enough for my setups to never work. Paul asked me why I didn't think they were working? Was there something that was making me hesitate? Or something taking my focus away? I thought...I've been trying to learn the tape. I'd been trying to base my trades on watching the tape go by, and since I haven't learned that at all and was trying to base trades on it, my losses were stacking up.

 

So, the point to all this is when you're adding something new to the mix for yourself, do your hard work and really understand what you're looking at before you make trades based on that new information. Without the full understanding of it all, one may be making mistakes. I did, and it cost me a bit. More mental frustration than anything. BUT, I've got my head back on straight and I'm ready to take the market back on tomorrow!!

 

Glad I could be of some help!

[torero 10]

Tin, glad to hear thing are getting back to normal. Keep it up. Just keep your mind of your past trades and focus on the NOW MOMENT, the current trade only. Remember, we're traderholics, easy does it and take one trade at a time. I'm using this concept from Alexander Elder's referring to traders as alcholics. Very good analogy.

[Soultrader 12]

Electronic trading... also known as the e-heroine. :p

[Reaver 10]

Electronic trading... also known as the e-heroine. :p

 

ha ha ha I actually spit some of my Pepsi out when I read that.

[Kiwi 16]

Well, today I experienced what feels like one of the biggest breakthroughs I've had in a LONG time. I was chatting with MrPaul so I owe it to you for showing me some things. First, why did I need the breakthrough? My losing streak was too big! Something wasn't right. What had changed? Had the market changed? Well....not really. It still ebbs and flows. It's been a little weird lately, but not enough for my setups to never work. Paul asked me why I didn't think they were working? Was there something that was making me hesitate? Or something taking my focus away? I thought...I've been trying to learn the tape. I'd been trying to base my trades on watching the tape go by, and since I haven't learned that at all and was trying to base trades on it, my losses were stacking up.

 

So, the point to all this is when you're adding something new to the mix for yourself, do your hard work and really understand what you're looking at before you make trades based on that new information. Without the full understanding of it all, one may be making mistakes. I did, and it cost me a bit. More mental frustration than anything. BUT, I've got my head back on straight and I'm ready to take the market back on tomorrow!!

 

This is a very good observation ... the something new and shiny problem.

 

Forget addiction to trading; my addiction is new shiny things, and every one of them damages my trading while I think about it. I am still (and maybe never will be) disciplined enough to stick 100% with my method when I have a new idea floating around in my head.

[TinGull 10]

Yea, thats they I used to be...now after this past week, I'm sticking with what I've got cause it works. I may have only pulled 10 points off a major swingy day, but little steps for me right now getting back on my feet.

[Reaver 10]

This is a very good observation ... the something new and shiny problem.

 

Forget addiction to trading; my addiction is new shiny things, and every one of them damages my trading while I think about it. I am still (and maybe never will be) disciplined enough to stick 100% with my method when I have a new idea floating around in my head.

 

I know what you mean. It's hard to let what seems like a potentially good idea go and continue to concentrate on what you are currently trading. I have a nice simple method that is working well for me and is simple enough for my simple brain to comprehend, so I will keep an open mind, but I'm with TinGull I'm sticking with what I've got right now.