Postmortem 14-Nov-2006
November 15, 2006 – 9:45 amI have just finished writing my journal for Tuesday’s trade. I ended the day flat. And, in fact, it was a nice trend day for ES (E-mini S&P). I mean for day trader. I missed the move in the morning as mentioned in my previous post. I did some quick scalp trade after that.
What is my problem? Choppy day , not making money. Nice trending day, not making money as well? What the hell I am doing? Staying up in the wee hour for …nothing?
After completing my journal, I see the reason. I was not confident with my own strategy. Ok, I have developed some new strategies. (by the way, it is still dummy trading though). I am not going to discuss my trading strategy on my blog. It is useless. Back to the topic. I saw nice setup, and I had doubt. I just can’t pull the trigger.
Second trade of the day, again a nice setup formed. I pulled the trigger. And? I scratched the trade with some reasons (I just farted, so I closed my position, something like that..). This again shows the problem. In addition of lack of confidence, I was not willing to accept the feeling of taking loss.
You have a plan, but you need have a right mindset to execute it.
Alright, enough, I see the problem, now go solve it.
From the desk of Tradergav.com
You might be interested in reading these as well
Tags: Trading Psychology
you have officially won the prize for the most original reason to get out of a trade - farting!
gl on the strategy you are developing..can’t wait to read more about it
Thanks John. Well, the new strategy is more on capturing market momentum and sentiment in addition to my dummy trading. Share with you more later.