Michal's Journal

[Michal]

Today's session

Result : +103 pips

I will have to block my firing fingers ... but sometime it just doesnt want to listen to me (rofl)

But tottally happy with the session - still making mistakes though...

[immy]

Today's session

Result : +103 pips

I will have to block my firing fingers ... but sometime it just doesnt want to listen to me (rofl)

But tottally happy with the session - still making mistakes though...

Michal, [warning] you've done great, you did exactly according to plan. you made great trades. you're a good trader. and Trade 7 is NOT a mistake. it just did not break down for 100 pips, otherwise you wont say its a mistake. Don't be hard on yourself, money is not made as a result of not taking losses, its MADE as a result of big winners consistently. go on and reward yourself. enjoy

[Michal]

End of a day today I write my thougths in pictures to share with you Guys

Result for the day is : + 187 pips (party) (Immy you were right (rofl) about those 200+ - almost there today


So im really happy and still more to work on. but i hope im on the good way :-bd thanks everyone

[zlabis]

End of a day today I write my thougths in pictures to share with you Guys

Result for the day is : + 187 pips (party) (Immy you were right (rofl) about those 200+ - almost there today


So im really happy and still more to work on. but i hope im on the good way :-bd thanks everyone

Absolutely amazing trading and great results, Michal!!! :-bd :-bd :-bd

It's so encouraging to see that the system we're feeling commited to is presenting such nice trading opportunities to us.

Cheers
Michael

[Michal]

Thank You Michael it's true the system of entries on fruits it's amazing ... and very very rewarding ... Obviously there is a lot work to be done on my personality such as be a bit more selective. For the begining I will start to try take most of the setups on fruits and add ons rather on classic brekout. as im to tempted sometimes when it comes to s1 #-o The more i will be on fruits the more famillar i will become with my mistakes ( i dont mean my rents but silly trades) ...

[immy]

Thank You Michael ... there is a lot work to be done on my personality such as be a bit more selective. For the begining I will start to try take most of the setups on fruits and add ons rather on classic brekout. as im to tempted sometimes when it comes to s1 #-o The more i will be on fruits the more famillar i will become with my mistakes ( i dont mean my rents but silly trades) ...

Your comment about personality is particularly interesting to me. You said you need more work on your personality and then you started talking about technical stuff. This is the point I wanted to clarify and I'm hoping may be I help you break into the paradigm. Know it and know it with conviction that your technical skills are 100% accurate. From the pictures you've shown now and previously I can see that you know the setup, you know the fruit, you know money management. Your technical side, the 20% of the equation is absolutely spot on. So what's missing?

Nothing, just need to work on the Five Fundamental Truths about trading and instill the 7 principles of consistency into your mind. Repetition is the key.
The work should be done on how to eliminate the state of fear, the 4 core trader's fears

1. Fear of being wrong
2. Fear of losing money
3. Fear of missing out
4. fear of giving back profit.

(later there might some other fears such as what would the guys think, certain equity levels can act as barriers such as oh my account has dropped from $10000 figure I don't like the $9,989 value, fear of not performing as well as you did last week, comparing your success with others and even with your past performance etc)

Once you tackle that, you'll be trading with a care free state of mind. The sky is the limit. so I'm here to show to you

What is OUTSIDE OF YOU, THE TECHNICAL ANALYSIS IS 100% ACCURATE. The skill that you apply to THE THINGS OUTSIDE OF YOU is 100% accurate. The skills that you apply INSIDE OF YOU i have no idea because only YOU can tell what the skills are , and how good are you at it.

I REALLY HOPE THIS HELPS

[Michal]

Thank you Immy your comment about my technical skills gives me a lot of boost !
I can definately say for now i got one big problem. Let me describe

There is some days when im in nice profit and instead of closing charts and enjoying myself I give back my profit just because i was sitting too long on charts. This is happening because of my day job. When i get to charts I wish i could do it like most aimsters for a living but i cannot afford it for now. So my time is very limited. I cant explain in words how badly i'd like to be doing trading for living. So i guess when i actually should sometimes close my charts im sitting even more in front of it just because my mind try to tell me if i sit longer i will be able to quit my job sooner and the other reason is i know before my next session is my day job and then chart's time....Whenever im off im doing it like i should. This is my biggest and i think only enemy. Well we see how it goes on dax now but that thinking is still somwhere in my mind....
So I hope Immy you understand what i was trying to say. As i was trying best as i could to describe what's on my mind and what i ment by working on my personality.

[Michal]

no trading for me on friday and today no trading also as bank holiday in us. And i couldn't be there for LO because of my day job so can't wait tomorrow

[wiseambitions]

Thank you Immy your comment about my technical skills gives me a lot of boost !
I can definately say for now i got one big problem. Let me describe

There is some days when im in nice profit and instead of closing charts and enjoying myself I give back my profit just because i was sitting too long on charts. This is happening because of my day job. When i get to charts I wish i could do it like most aimsters for a living but i cannot afford it for now. So my time is very limited. I cant explain in words how badly i'd like to be doing trading for living. So i guess when i actually should sometimes close my charts im sitting even more in front of it just because my mind try to tell me if i sit longer i will be able to quit my job sooner and the other reason is i know before my next session is my day job and then chart's time....Whenever im off im doing it like i should. This is my biggest and i think only enemy. Well we see how it goes on dax now but that thinking is still somwhere in my mind....
So I hope Immy you understand what i was trying to say. As i was trying best as i could to describe what's on my mind and what i ment by working on my personality.

Michal, I like this post because it sums up the draw, the addiction of trading, and the end result from being at it all the time is less good than just being active in the sweet spots.

By this I mean that the system does best at times when the market moves (so long as you are in it on the right side). And those times, in my experience, are between the morning open and say 1100 GMT. Often until news comes in at 1330 and NY equities open at 1430 there can be a lull during which there's a lot of ranging, and whipsaw. 1430 it often goes crazy until the market finds its direction, and can be OK or can be turbulent. Then after most of the Europeans pack up and go home there can actually be a trending price until 2100 after which you rather need to be out because the spreads go very wide (if your broker is even still open).

In my opinion a stress free life can be had (so long as you are in the right time zone, and not at day job), just for trading between about 0730 London time and 1000 (or not even that late) if you are content to walk away with even 10 or not a lot more than that in the way of pip count........ Then you should be strong enough to switch off the terminal, or just paper trade. Enjoy what you take off the table, tomorrow you will come back fresh for another opportunity And if you stay glued to the screen there's a good chance for the reasons I have stated that you will give them all back later..........

[Dave]

Thank you Immy your comment about my technical skills gives me a lot of boost !
I can definately say for now i got one big problem. Let me describe

There is some days when im in nice profit and instead of closing charts and enjoying myself I give back my profit just because i was sitting too long on charts. This is happening because of my day job. When i get to charts I wish i could do it like most aimsters for a living but i cannot afford it for now. So my time is very limited. I cant explain in words how badly i'd like to be doing trading for living. So i guess when i actually should sometimes close my charts im sitting even more in front of it just because my mind try to tell me if i sit longer i will be able to quit my job sooner and the other reason is i know before my next session is my day job and then chart's time....Whenever im off im doing it like i should. This is my biggest and i think only enemy. Well we see how it goes on dax now but that thinking is still somwhere in my mind....
So I hope Immy you understand what i was trying to say. As i was trying best as i could to describe what's on my mind and what i ment by working on my personality.

Good post, Michal.

I too still work a day job while trading after work with the goal of one day trading full time. I suppose my timezone supports this habit as at present LO is 19:00 local time. Winter is more difficult with a 17:00 open but I make do when I can. For what it's worth, my trading is much improved by acknowledging my behaviour traits. If I rush home from work to get to the charts I generally also rush my entries. If I miss the first hour or two of the session I generally force entries in an attempt to 'catch up'. And if I miss a session altogether (which is too often the case) I know I'll feel a want to make it up the following day. Acknowledging these habits or patterns of my personal behaviour have been the first step towards correcting these bad habits of impatience. I've written in this journal previously ways I choose to manage these habits and I've made marked improvement. And that improvement is noticeable in my results.

Noticing your habits is the first step towards correction and improvement. There's a meditation somewhere, maybe even in this forum, where the voice in my head says that I 'am aware of my breathing'. For those that feel a rush when an order is triggered just being aware of your pulse and your breathing will instantly calm your thoughts and help you to make smart and rational decisions. The same can be said for larger behaviour traits. Becoming aware that you overtrade beyond the session and give profits back is a giant leap towards correcting the error

Good luck!

Edit: Maybe written in my journal!