My Trading Journal: 9/23 trades

Thanks to my wife for her loving support. Thanks to Brain Zimmerman and Lance Beggs for their friendship, support and coaching.

"The world aint all sunshine and rainbows. It's a very mean and nasty place and it doesn't care how tough you are, it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain't about how hard you hit, it's about how hard you can get hit and keep moving forward...how much you can take and keep moving forward. THAT'S HOW WINNING IS DONE!! If you know how much your worth then go get what your worth, but you have to be willing to take the hits, and not pointing fingers saying you aint where you want to be because of him, her, or anybody. Cowards do that and that aint you. You're better than that". Rocky 6

Friday, September 23, 2011

9/23 trades

+15 Ticks

I didnt trade yesterday on 9-22. The market sold off big over night. I usually don't trade well on those days. There is little opportunity to fight so i stand aside.

I wore myself out in the morning session and was done trading by lunch. I have to keep reminding myself Im fighting to win not fighting to not lose or break even. Maybe thats why ive sturugled with new equity highs. Break even feels good after a drawdown and my mind responds differently after the fight to get back than it does when I'm down. I'm fighting when I'm down like I have nothing to lose but comfortable when I'm up. Only winner is the broker. Ill have to dig in the mental side and open YTC vol 5 ;)

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Notes

"You don't need much more confirmation. It's a low risk entry, with greater profit potential, in the direction of your assessment of market bias. Take the entry and manage whatever happens" - Lance Beggs

"Think strength/weakness in the price action, rather than patterns." Lance Beggs

"Don't rush into trade entries. Identify weakness. Identify trapped traders. Fade the weakness and be a part of the orderflow which springs the trap." -YTC

"My job is to understand and locate market direction, work off key areas for entry, manage the risk, and have a basic understanding of odds/payouts to structure a statistical edge over large samples:

FOCUS is on attacking directional scenarios, executing off key areas and manage risk." -PTE

The reality is that... YOU ARE THE REAL EDGE.

Your implementation of your plan is the true determinant of success or failure.

Many traders know what to do. The challenge is doing it. The challenge is to operate in the environment of uncertainty with productive thoughts, feelings and emotions, to ensure our actions are those which maximise the potential edge within our trading strategy.

My Trading Journal

Friday, September 23, 2011

9/23 trades

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