The most stupid tradingday ever

[januson 10]

I'm having a usual review of my tradingday right now and.. I just need to share.

 

Quite horrible, I'm having so much trouble understanding how much stupidity a man can handle without going crazy.

 

What went wrong 10:55 and 11:50 and 13:00 and and and...

 

29 trades

Drawdown 2% without commision

[Anonymous 11]

My first thought would be............

 

29 trades way too many. But I know that may just be me and my personality and how that relates to trading style.

[torero 10]

Agreed! Need to work that down, januson. In futures, 5 is already alot. If it's not happening in the first 3 trades, shut down and try again next day. Sorry to hear that, but we've all been there. Make sure you learn to differentiate between trending days and non-trending days. Non-trending days will eat up accounts faster than you can say uncle.

[walterw 10]

januson : you need to work on a trading plan... I dont see any clear plan there.... your trading plan should respond to a clear and sound argument, once you decide wich argument you stick to, you need to find the best timing tools that fit your stile... you keep trading like that and will only add unecesary frustration and psicological drain... cheers Walter.

[Soultrader 12]

Agreed! Need to work that down, januson. In futures, 5 is already alot. If it's not happening in the first 3 trades, shut down and try again next day. Sorry to hear that, but we've all been there. Make sure you learn to differentiate between trending days and non-trending days. Non-trending days will eat up accounts faster than you can say uncle.

 

True indeed. If 3 trades are not working.... best move is to shut down your comp. Otherwise you will spend the entire day frustrated, trying to make up your losses. In most cases... it leads to further losses.

[Blu-Ray 10]

It looks like a typical trading day for me when I was starting out.

 

As Pivot says 29 trades is too many - for me anyway, but I've been there and done exactly what you're doing.

 

From what I can see and what I felt at the time was " I need to be in the market" then when a trade doesn't go to plan " Phew, I got out of that one, right then back in again" and generally not following a plan just going with what I felt was right.

 

It's best to sit on your hands and wait for the right set-up to come along, easier said than done but you'll get there.

 

Hope this helps

 

Blu-Ray

[Kiwi 16]

Ideas.

1. Tell us exactly why you're supposed to enter and exit ... please post the 1A4 page trade plan with your setup, entry and exit rules revealed. Without that, we don't know that you're not trading correctly or that you have rules.

 

No point going beyond 1 without it actually.

[GCB 10]

Hate to sound repetitive but it's probably what you need to hear.

 

It just looks like you are jumping into trades with no rhyme or reason other than impulse. Do you have a plan for entries, exits and risk? What signals do you look for with your entries and exits? What's your max risk per trade and how is it related to typical market action? Have you written any of this down? Do you believe in it?

 

I would say don't trade again until you can specify exactly why you are getting in and out of trades--and "it was going up" or "it was going down" isn't good enough.

[TinGull 10]

Also, today was an uptrending day. Even with stocks...the rising tide lifts all ships.

 

And Im with the rest of the guys. Today I sat down and really solidified my trading plan and my setups and WOW! I feel great about it. What is your plan of attack?

[walterw 10]

Tin : I would love to hear about it....I think you had evolved very nice on volume aproach, If you can share some would be very apreciated... (maybe some new thread) cheers Walter.

[Kiwi 16]

Heres a trick TG

 

Go over your plan again. Ask yourself which trades (or setups+entries) are the best 50%.

 

Get rid of the worst 50% or ask for a retracement before entry so that the RR becomes fantastic pulling them into the best 50%.

[TinGull 10]

Done that Its a fantastically simple approach that I should've been using ages ago. Well...I was kind of using a while back, but then switched to something else...and switched again, and then again....that was my issue. always switching. So now, I'm back to the original deal that gives nice nice setups.

[Don4 10]

well it is hard to tell what went wrong without the rules to your system,but if u have done your home work with your system then in some ways you know what to expect.if u was following your rules for entry and exits then i would say good job the losses doesnt really matter because they will happen get use to it. If u was playing on emotion chasing the market then,stop!! U wont last long doing that. Only u know if u followed your plan or not.

[mp_trader 10]

This is a put-on, right?

[januson 10]

Folks....

Very nice with all this feedback, I'll get back with a tradingplan and some more screenshots.

 

This is a put-on, right?

No it's not, could look like one. I'm just a n00b trying to learn, the best way to that imho is to be honest and openminded!

[torero 10]

januson, you're on the right track... you're saving yourself months if not years of headache and $ by starting to be honest and open with yourself early on. Best way to learn and grow in this business. Ask if you need help. Looking forward to your plan. Good luck!