Tom's T20 Journal

[tombacon89]

Update the fecking thing 


 

 I am trying! lol. For some weird reason, I am logged into the forum section but when I try to get into the dashboard I cannot get in on my laptop.

I need a password reset, which I have requested 3 times but the reset e-mail does not come through to my e-mail  . 

I managed to get on the dashboard on my phone (face id login) then downloaded it that way and emailed it to myself, so I am up and running again now!!! wahooo


I am going away now for 2 weeks holiday :thumbs

good luck all.
 


 
 
 

[tombacon89]

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[tombacon89]

Whilst away, I have started reading a book called ‘atomic habits’ it is not specific to trading. But about making small tiny changes in your life that become good habits. 

I will put one quote from the book every day whilst I am reading it  

hopefully this will inspire myself that when I return from this break. to quit the bad habits and CONTINUE the ones that I / we already do in our journals and trading game. 

todays quote 

CHANGES THAT SEEM SMALL AND UNIMPORTANT AT FIRST, WILL COMPOUND INTO REMARKABLE RESULTS IF YOU ARE WILLING TO STICK WITH THEM FOR YEARS.

SUCCESS IS THE PRODUCT OF DAILY HABITS, NOT ONCE IN A LIFETIME EXTREME TRANSFORMATIONS OR CHANGES.

TIME MAGNIFIES THE MARGIN BETWEEN SUCCESS AND FAILURE. IT WILL MULTIPLE WHATEVER YOU FEED IT. GOOD HABITS MAKE TIME YOUR FRIEND, BAD HABITS MAKE TIME YOUR ENEMY.

ALL BIG THINGS COME FROM SMALL BEGINNINGS. 

This one is very pertinent to us all here ….

GOALS ARE ABOUT THE RESULTS YOU WANT TO ACHIEVE, SYSTEMS ARE ABOUT THE PROCESS THAT LEAD YOU TO THOSE RESULTS. FOCUS ON THE PROCESS AND THE SYSTEM, NOT THE RESULTS. 

 

 

[tombacon89]

Quotes and thoughts:

The first step to changing bad habits, is to simply look out for them and be aware of them.



Make the behaviour change obvious.



Many people think they lack motivation, what they really lack is clarity. The attention is in the detail.

When your dreams or goals are too vague, it is easy to justify little exceptions and never get around to doing the specific details or tasks that you need to do to succeed. (Meaning non-disciplined trades become accepted, and the focus is not on the SYSTEM.) this could be an ‘over probabilistic mindset, or the ‘who cares’ approach.

Saying ‘I want to be a trader’ is too vague. But saying ‘I want to be an m1 trend pull back trader’ is much more clear purposed, specific to you as an individual and you can build good habits and routine towards the specific desired outcome.

Use one habit to trigger the next habit in order to develop consistent good habits. ‘Habit stacking’ the power of compounding habits is unlimited.

Eg. I want to drink a glass of water every morning when I wake up… solution… Put an empty glass on the kitchen worktop before you go to bed, so when you wake up in the morning and go downstairs the first cue is to pick up the glass and fill it. You will be much more likely to achieve your goal of drinking it every day if it is IN YOUR FACE, NOT HIDING IN THE CUPBOARD.



Habit stacking with clarity:

Vague goal: Eg - I must record my trades. This is too general. This offers opportunity to forget. (I fell into this trap.)


Clarity of goal: Eg. When I sit down to trade, I will open up my pre session notes sheet. This prompts me to check news, check levels of htf and settle in before making any decisions about taking a trade. When I exit a trade. immediately drag and drop the trade to plot the trade result in mt4. This then triggers the cue to screen shot the trade, this triggers the cue to save the trade in the relevant folder. This triggers the cue to record the result in the spreadsheet, this triggers the cue to submit the trade into the journal. (I had developed this habit, and is one I will strive to return to. It has to be the whole process, starting from the first habit. If I do not open the session notes sheet, I do not check news. I forget. The rest falls down….. how can I ensure I do this? Well… I can print out the pre session sheet and before I go to bed, I can put it on top of my laptop. So when I sit down to trade, I have the reminder there in front of me. Not hidden in a folder on my laptop which I may easily forget to open. Bingo!
 

[tombacon89]

Environment

Question…. You are learning to play the guitar. Are you more likely to practice more when your guitar is on a stand in your bedroom; or kept in the case in the cupboard???

… Making the guitar visible is more likely to trigger your response to pick it up, even if it is only for a minute or two.

Visual is our primary sense, meaning visual cues are the most common like to behaviour change.

A small change sometimes subliminal can be enough to change your behaviour. A small change in what you see can make a huge difference to how you behave.

…..Be the architect of your own environment, not the victim of your environment…..

setup your environment to promote good behaviour triggers not bad ones. This could be interpreted in the layout of the trading room, clutter free…. or as detailed as ‘the layout of your charts and templates.’

The importance of having the correct template and chart setup for YOU is that YOU understand and control the behaviour that comes with looking at those charts.

(I already do this; but I now see the importance of it. my grey chart theme, it works for me, it is neutral. It is neither positive or negative; I like it to keep my thoughts grounded and level; whatever happens on the charts I need to remain neutral.)

Suggestion: Perhaps making a small desk calendar with photos of beautiful trades next to my laptop may help subliminally keep me in the zone of TREND TRADES ONLY.


Quote: IF YOU WANT TO MAKE HABIT A BIG PART OF YOUR LIFE, MAKE THE CUES A BIG PART OF YOUR ENVIRONMENT.

Quote: BY SPRINKLING CUES AND TRIGGERS AROUND YOUR ENVIRONMENT YOU INCREASE THE ODDS OF THINKING ABOUT YOUR GOOD HABITS THROUGHOUT THE DAY

You will build a positive relationship with your environment. You will learn over time that the trading room is just that, purely for trading. When you step into that room, you step into the zone of trading. And all the subliminal cues become one. You know what happens is that room…. Walking into the room becomes the metal trigger switch to trade…..

I trade on a laptop at the kitchen table. For now. My laptop lives in a side unit in the lounge. When I pull it out of the unit. I enter trade mode…. I then sit at the dining table. I trade. Sometimes my wife is there making breakfast, sometimes I have to answer the door, sometimes I see my neighbour walking down the drive. I have some distractions. Also, the kitchen diner is also a place where I cook, chat with my wife or friends, hang out on an evening etc…. I cannot design an environment around trading there. So Perhaps it is time to make the change and set up a desk in a spare room; and literally have a ‘trading room’ that I can associate with trading. When I am not in that room, the door is shut and I am switched off from trading. I think this will be beneficial.

Quote: ONE SPACE, ONE USE!
Kitchens are for cooking, bathrooms for washing, lounge for TV, office for study. Etc

[tombacon89]

Self Control…..


When scientists analyse people who APPEAR to have tremendous self control. It turns out those individuals ARE NOT DIFFERENT from those that are struggling with self control….

…. Instead. DISCIPLINED PEOPLE are better at structuring their lives in a way that DOES NOT REQUIRE heroic willpower and self control… in other words THEY SPEND LESS TIME IN TEMPTING SITUATIONS.

(Could this be the difference between scalping and HTF trading??? Certainly limiting m1 to a ‘session length’ and not all day… Would it be easier to simply ‘check in’ say on the daily chart for 5-10minutes. With only 5-10 minutes requirement to be disciplined and in the zone? Wow. That is something to think about……. Would a 5 minute task / habit be easier to maintain than a 1/2hr a day task or habit)

I know m1 is achievable for me. I am sticking with m1; But, wow… that paragraph has open my mind…

[immy]

Self Control…..


When scientists analyse people who APPEAR to have tremendous self control. It turns out those individuals ARE NOT DIFFERENT from those that are struggling with self control….

…. Instead. DISCIPLINED PEOPLE are better at structuring their lives in a way that DOES NOT REQUIRE heroic willpower and self control… in other words THEY SPEND LESS TIME IN TEMPTING SITUATIONS.

(Could this be the difference between scalping and HTF trading??? Certainly limiting m1 to a ‘session length’ and not all day… Would it be easier to simply ‘check in’ say on the daily chart for 5-10minutes. With only 5-10 minutes requirement to be disciplined and in the zone? Wow. That is something to think about……. Would a 5 minute task / habit be easier to maintain than a 1/2hr a day task or habit)

I know m1 is achievable for me. I am sticking with m1; But, wow… that paragraph has open my mind…

 

This is the VERY reason more people find success on the higher time frame.

They don't make mistakes 
They let their trades be because they can't wait for 4hr candle. they walk away and that helps them calm down, not intervene and let the targets be hit
They cool down if they experience the heat of trading... because ... 

so yes... exactly my point...

[tombacon89]

Your friends and family’s influence…. 

Part of the ‘making your habits attractive rule’ 

if you are surrounded by people who drink alcohol, you are more inclined to drink alcohol.

if you surround yourself with people who like to exercise regularly, you are more likely to exercise more regularly too. 

your culture and immediate surrounding and company you keep have an impact on positive or negative habits. ‘Conforming.’

positive conformity: 

SURROUND YOURSELF WITH PEOPLE WHO HAVE THE HABITS YOU WANT TO HAVE FOR YOURSELF; and YOU WILL ALL RISE TOGETHER. (The more we journal and show our discipline; the more the rest of us will follow suit)

to make habits even more attractive, you can do 2 things. 

1, join a culture where your desired behaviour is is ‘normal’ behaviour. 

2, you already have something in common with the group.

1+2 = AIMS FORUM. We are ahead of the game. 

Quote: NOTHING SUSTAINS MOTIVATION BETTER THAN BELONGING TO THE TRIBE.

I 100% believe this, around batch 4/5 I remember writing something about ‘wanting to prove to everyone that I knew what I was doing.’ That was before reading this book and quote. Sometimes the subconscious is so powerful you do not realise it is happening until you realise it has happened when you learn some more. It is NOT a bad thing. 

what I realise now was, I was trying my damndest to fit in… and in doing so, my desire to learn was pushed to the max and I DID LEARN. I am still learning. But I now know and feel like I am doing this for me. 

Been part of the tribe transforms a personal quest into a shared one. From being ‘a trader’ to ‘we are traders’



Maybe I am becoming a deep minded individual… easy to do laid here in front of a swimming pool for 2 weeks with no stress of life.

or maybe I am just learning that with everything there is a bigger picture; and to be THE BEST or simply to UNDERSTAND… you have to take a wide viewed approach at yourself first, developing and having an opinion on everything. There is more to trading than taking a trade. I am feeling the difference of a ‘clear mind’ to what I believe in the moment when in a trading session is a clear mind. (My trading plan must be CLEAR, and simple. In order to have the chance of a clear mind in the session.) 


Been successful at anything is about the dedication, understanding, desire and deeper meaning of whatever it is you want to succeed at. It is about thinking outside of the box to do small things to better YOURSELF. But also asking yourself daily ‘what would the pros do?’

edit. Let me clarify this point.

What would the pros do?

i do not mean, would the pros take this trade or filter it. I mean… what would a pro do before entering the trading room, would the enter when angry or emotional? Would they trade if they had a bad night sleep? What would their morning routine look like? What things do they do religiously? What would the pro do to complete the bigger picture, to obtain and maintain full 360 awareness in their journey…

Outsiders do not see the journey, they only see the outcomes. I / we, should focus on the JOURNEY. And NOT the outcome…. But most importantly focus on ourself first, as that is the underlying foundation of the PROCESS. 
 
 

[tombacon89]

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Saving these for my return.

This is it. Right here. These 4 photos are to go on the wall, with one bearish example and one bullish example when I create my trading space. That is it.

The OBVIOUS pull backs that require no thinking. Those are the dream. 

Clear, smooth, simple. add this to break of structure, in the HTF direction, below 50ema and this is all I need. 



… you’d never think I was on honeymoon lol. What else do you do when your wife is getting ready for dinner geek mode
 

[tombacon89]

QUALITY OR QUANTITY?

Which is best to start forming a new habit?

This will be a long post as there is no way to summarise it without context. Also I’m useless at keeping things short. Sorry.

Scientific experiment, a class of student photographers are split into two groups. Quantity group, and quality group.

The quantity group would get an A* if by the end of the term they submitted 100 photos , B 90 photos, C 80 photos, D -60 photos.

The quality group had to submit only ONE photo to be graded. If they captured all aspects of the course into one photo they would get an A*. The image has to be PERFECT.

During the term, the quantity group took hundred of photos, experimenting in different light, composition, techniques. They practiced and learned from their mistakes. What went well, what worked better, they DEVELOPED and SHARPENED THEIR SKILLS AS PHOTOGRAPHERS and FOUND THEIR STYLE.

The quality group, sat. They read books, watched videos and learning material on how to get the PERFECT SHOT.

The quality group were so fixed on finding the best approach and perfection, they never got around to taking action.

The result, the quality perfectionist group ended up with one average photo to submit.

The quality group, we’re simply learning and educating themselves, through theory, without actually doing or practicing. They were (as described in the book) ‘in motion’…

The quantity group were actively practicing and doing, they were ‘in action’ overall, they produced much higher quality photos.

They are similar but also very different approaches.

When you are IN MOTION you are planning, strategising, learning, but there is NO ACTION. There is no action, so there is NO RESULT. However, that is not to say been IN MOTION is bad. Of course we need the theory, to begin with…. But we can learn quicker and develop better from been IN ACTION.

When you are IN ACTION, you will deliver an outcome. As traders, we have to TAKE ACTION in order to produce results. There is little point in been a theorist in trading. (Unless you sell a strategy lol immy)

So why do we go into the IN MOTION zone? Partly, we need it in the very beginning to have some form of starting point to take action. But, this book suggests those who remain IN MOTION are simply staying there out of fear of failure. Motion is a bit of a myth, it tricks you to believe you ARE PROGRESSING AND GETTING THINGS DONE. Eg demo trading too long or OTT analysis causing filtering absolutely every trade unless it is a 10/10.

It is easy to fall into the trap of motion. I am IN MOTION right now. I think this process of reading and making notes is helping me. When the reality is…. I am not placing one single trade whilst I am doing this process so I am not taking any action.

The difference is, I’m simply not trading whilst I am on holiday end of story. By choice, not out of fear…. Simply taking the opportunity to develop. But in a motion state.

Where I would consider MOTION state to be a hinderance, would be learning a totally different strategy or set of rules to the bannana or my current plan; by seeking for the perfect holy grail. When the reality is, all I need to do is stick to one but TAKE ACTION and take the setups over and over and over and over again.

This combines with the next point in the chapter….

IF YOU WANT TO MASTER A HABIT, THE KEY IS REPETITION, NOT PERFECTION.

Turning up every session. Doing your pre market checks. Taking every trade you believe is correct. Only trading in the correct direction you intend to trade. Documenting every trade. Over and over and over and over again.

Simply …. Get your reps in

Question? How long does it take to form a new habit ? (Or get good!?)

Answer: time is irrelevant.

Ask this instead…. How many TIMES does it take to form a good habit???

Now think about the perfectionists who took one photo…. With little practical experience to draw from. They probably knew it all in theory, but they felt the pressure, they were average performers.


Now you understand why the QUANTITY photography students out performed. They found the perfection in their journey of imperfections and mistakes. They learned what is ‘their style’ AKA… what is THEIR SETUP with an practical understanding of how they got there.

—————

Note to self.

Been IN MOTION is ok, there is a time and a place for it; but in order to see results and truly grown and develop we need to TAKE ACTION. Again and again and again.

The amount of time spent performing a habit is not as important as the amount of times you have performed it. (T20 challenge over and over)

As Minsk alluded to today, taking no trade is still taking a position.

I love that phrase… STILL TAKING A POSITION. Does that feed the ego of trading? Why sure it does…. I did not take a position..,, that sounds so much better than, ‘the markets were shit today.’
 
……Maybe I need to factor this into my session recording… Long, Short, BE or ‘capital  protection position’ as an outcome for a filtered trade. 
 
edit… 

taking NO POSITION is an ACTIVE CHOICE, a DECISION WAS MADE.

I need to make the ‘craving’ of the markets be…

TAKING A DECISION, NOT TAKING A TRADE.

There is just as much an active thought process to not take a trade, than there is to take one…. So why should be ignore the hard work of not taking a trade? 

I shall finished my session summaries with this when I return. 

WHAT POSITIONS DID I TAKE TODAY?
Long, Short, L/S BE or No Position. 

i just need a simple way of monitoring and rewarding good no trade decisions now.