My Trading Journal: 7-18 7-19

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

Thursday, July 19, 2012

7-18 7-19

ES is strong and the trend up to offer levels continues. 2 areas for profit taking are 1375 area which we are at now and the upper trend line around 1390. wont be much to do really. I will have to see how each level is respected and look for wholesale prices if any trades are entered.

CL 8-12 contract is rolling over and with this market extended and pushing to test 92 which we are almost there I wont be looking at this market until next.

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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

Thursday, July 19, 2012

7-18 7-19

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