Mickey's Journal

[immy]

What is the DS?

[kiravon]

DS? Up to campaign 17, results in last post. Not sure what DS means

Daily Score? + 40 today due choppy start and one wrongfully entered add on
which would have bought Daily Total up to +62

90 minutes trading time only

Daily Proofreading Strategy 25/3 +2p

[kiravon]

First Day Live Account
Polish Zloty account, I don't pay currency exchange on
deps and withdrawals plus when I lose -100, it
isnt really $100 only $25 but it seems like $100
so its useful to learn how to take the knocks
at just 25% of the price my main live accounts are
USD$ accs.

Two trades, one hour trading only. +98 +50 add on -3

First trade at London Open - +98 pips no add on
too nervous re trading gap, I was trading to 'not make a loss'

XM MT4.png

Second Trade, This time with add on, but messed up +50 but -3 add on
I added on too late, panicked when price started retracing so fluffed the
add on completely.

Not in zone, I was lucky today, but will do better tomorrow.
I don;t want to stay on demo, its served its purpose, I'm ready
and able to blow my Zloty account. 732PLN half of that is bonus
anyway.

2.png

3.png

[kiravon]

Traded GBP News with much smaller Lot size, out at
BE no harm done

4.png

Just stalled after initial move

5.png

So I thought I would try my first real LIVE Fruit

Again, well managed, it never really happened so
again out at BE

7.png

Moved Stop down to BE and subsequently Stopped for BE

8.png

[kiravon]

Sequence 4

C1 BE
C2 +21
C3 BE
C4 -4
C5 +54
C6 +27
C7 -12
C8 -10
C9 +5
C10 -6
C11 BE
C12 -10
C13 -21
C14 +38
C15 +34
C16 +22
C17 BE
C18 +25 ( Corrected due miscalculation, first day trading Polish Zloty )
C19 +12 ( '' )
C20 -3

Total +172 ( Corrected due miscalculation, first day trading Polish Zloty )

[kiravon]

Sequence 5
C1 BE
C2 BE

[kiravon]

Made PLN 98 within first seven minutes of trading
and first day Live account I made PLN 150, around thirty quid

money for old rope! I can do it blindfolded now! standing on my head!

Actually this was my very worst day trading since start of journal. why?
I wasn't in the zone and more importantly I knew I wasn't in the zone
and I knew why yet still I pressed on regardless

I had a bit of an upset last night and had very little sleep, got out of bed
this morning feeling like sh*t. Forgot about tapping although that might
not have helped that much.

I just realized I needed to top up my Paypal account so logged in and
started the bank transfer procedure. I knew I would have to enter an
SMS so I left my desk to pick up my mobile phone.

I walked past my phone and went into the bathroom and had a shower
leaving my account page open. I had completely forgotten about the bank
transfer - just completely in a dreamworld!

and that was my mental state whilst trading!

I was in no fit state to trade this morning. I completely bungled one add on
and was extremely lucky to come away with a 150 PLN profit

I really did not deserve it

Half of me is thinking 'If I can make 150 PLN in an hour when I'm this deranged
just think what I'll do on a good day!'

It doesn't work like that! In fact the way I feel today I think I could easily
have blown my entire live account this morning - maybe not noticing Lot size
was 10.0 instead of 1.0 - How easily something like that could happen if you are
not really alert and on the ball.

So I was lucky today, thats all.

Again, the more pressing question - Why did I proceed knowing how I felt?

Simply, I 'knew' I could manage a breakout trade at London Open and I
wanted to keep up my daily routine, perhaps scared I might lose the knack, so
to speak.

so I 'knew' - it seems overconfidence is the number one issue that keeps
recurring

Others are hampered by fear, it seems I am more at the opposite end of
the spectrum - reckless overconfidence

and days like today really don't help - being 'rewarded' for doing the wrong
thing could easily make me even more prone to reckless behaviour.

But the Three Core Principles of Trading, one of which is -

Protect your Account! - and that surely means knowing
when it is unsafe to trade

Note I have corrected +150 pips to 150 PLN, mistake made due to first day
trading Live Polish PLN account

[immy]

You are not the first guy to be the "hardest" on himself when he got the most out of the market. Being hard is good for you. But I will tell you something different. The reason you got those pips is because
1. you have a great edge in your favour. THE System.
2. you have committed to be disciplined and apply the T20 and your intention is to make the best trades. So your subconscious is taking over
3. since your intention was positive you got rewarded

Why you feel this way?
In my humble opinion, this one sentence you wrote there
" I did not deserve it" sums it all up. As long as this belief stays inside, (and we are lucky it has surfaced so we know its in there) creating consistent success will be hard because in order for the mind to conform to this belief, it will make sure you (its clever) you make those mistakes that put you back on course. e.g. 10 days of consistent 1% growth followed by one day of -10%. back to ZL. Mission accomplished. When you analyse the results you find out you were disciplined 10 days and broke all the rules on the 11th day. Even earthquakes and thunderstorms seems to time themselves on the 11th day. Even the wife goes angry and the kids go sick. That is Wave 4 of a trader's mind. Beware the wave 4.

[immy]

DS? Up to campaign 17, results in last post. Not sure what DS means

Daily Score? + 40 today due choppy start and one wrongfully entered add on
which would have bought Daily Total up to +62

90 minutes trading time only

Daily Proofreading Strategy 25/3 +2p

The OBJECTIVE of T20 = Discipline.

DS discipline score.
we need 19/20. pass mark is 95%.

[kiravon]

Discipline Score. Thanks, Got that! Not sure of DS so far
but I think quite high probably last few days, I'll track it more
accurately