Tracker's Journal

[immy]

Now the important thing to find out is "How many of those 80 campaigns had errors"?

[Tracker]

The morning session started pretty good with a nice AA Fruit that I took short, but than again my mind was stuck in the short trade having that vision of a huge drop. The correct course of action would have been to close both positions above the Fruit and SAR to the long side. Could have been two nice campaigns for a total of around 80 Pips. I ended up with 20 Pips. Why can't I just accept what I see on the chart and trade accordingly!?!? :ymsigh:
I started the afternoon session at 14:30 NYSE (ST in US). Got in short on AimsLevel Breakout and got stopped out. SL a little to close. Fruit Long was a good setup but didn't really do the trick. I had my buy order in at 15:36 but deleted it again. Fear of losing. Had another chance long with the SAR, but got stopped out below AL. Stop was to close. Should have managed it manually.
I think I should at certain times around CIPs take every Fruit, that would have gotten me into nice trades today. In the morning session and afternoon session. I need to overcome that blockage to turn around.

Camp 83: AA Fruit Short
Trade 1: Fruit + 31.9 Pips
Trade 2: Add On + 10.6 Pips

Camp 84: AA Fruit Short
Trade 1: Fruit - 10.8 Pips

Camp 85: SAR Long
Trade 1: SAR - 11.8 Pips

Camp 86: AimsLevel Breakout Short
Trade 1: S1 - 13.0 Pips

Camp 87: Fruit Long (good angulation)
Trade 1: Fruit + 9.0 Pips
Trade 2: Add On - 2.2 Pips

Camp 88: Fruit Short
Trade 1: Fruit - 10.9 Pips

Camp 89: SAR Long
Trade 1: SAR - 8.8 Pips

[Tracker]

Morning session taught me another lesson. Didn't go long because of the two bars to the left of the breakout. Tried to go short after the first move upwards. SAR long there was the right decision and it could have been a nice long trade from there on, but I had to try shorts again. Why not just stay long if the market wants to go up!?!?!? Want what the market wants. I wonder when that's going to sink in! Stopped trading after max loss for the session. Most of the short Fruits had no leverage to the downside should have ignored them.
The afternoon session was a disaster again. My best friend right now is the loss limit that I set. Just traded Breakouts, when I am supposed to trade Fruits. If I had just taken the Fruits from 14:30 on and closed them at the green line but always also taken the fruit in the opposite direction I would have been perfectly fine and in the perfect position to make some real pips later on.

Camp 90: Fruit Short
Trade 1: Fruit - 13.8 Pips

Camp 91: SAR Long
Trade 1: SAR + 8.1 Pips

Camp 92: Fruit Short
Trade 1: Fruit - 12.2 Pips

Camp 93: Fruit Short
Trade 1: Fruit - 12.5 Pips

Camp 94: Fruit Short
Trade 1: Fruit - 11.2 Pips
Trade 2: Add On - 12.6 Pips

Camp 95: AimsLevel Breakout Short
Trade 1: S1 - 10.3 Pips

Camp 96: AimsLevel Breakout Long
Trade 1: S1 - 11.5 Pips
Trade 2: Add On - 13.2 Pips

Camp 97: AimsLevel Breakout Short
Trade 1: S1 - 10.5 Pips

Camp 98: AimsLevel Breakout Long
Trade 1: S1 - 10.2 Pips

[Tracker]

Morning session was ok. Just did one campaign. Should have traded the second AA, too, but my attention had drifted of to other stuff. [-x
Afternoon session could have been better. Really have to start to play those Fruits both ways at certain times like LO and NYSE. Like yesterday it would have produced a nice result.

Camp 99: Fruit Short
Trade 1: Fruit + 26.6 Pips
Trade 2: Add On + 20.0 Pips

Camp 100: Fruit Short
Trade 1: Fruit - 10.1 Pips
-----------------------------------------------------------------------------

Result after the 5th batch of 20 Campaigns: - 100.0 Pips


Camp 101: SAR Long
Trade 1: SAR + 10.0 Pips

[immy]

Hi Tracker, again, i fail to read one vital information after Batch 5. how many errors? Afterall that is the whole purpose of the exercise. How disciplined were you? the goal is to be 95% disciplined. So have you achieved that goal?

[Tracker]

Hi Tracker, again, i fail to read one vital information after Batch 5. how many errors? Afterall that is the whole purpose of the exercise. How disciplined were you? the goal is to be 95% disciplined. So have you achieved that goal?

Hi Immy,

I don't really want to put it in words. 14 Mistakes. (
Goal not achieved, but I will not give up. I will get there!!

Cheers,

Tracker

[immy]

Counting errors is the objective of this exercise. As I said earlier in the ebook u don't need to find out if the strategy works as we have done it already but you do this exercise to improve your discipline and find out mental reason for your errors and try to find a pattern in other words we know the structure of the market now we want to find our own structure so that we can modify it and make it tune with that of the market so that we can dance in tune and in synch in a beautiful enjoyable manner

[immy]

Now tell me in pips how much is the cost of those 14 much is the cost of those mistakes?

[Tracker]

Now tell me in pips how much is the cost of those 14 much is the cost of those mistakes?

The cost in batch #5 was 281 Pips that I should have made (missed opportunities),
and 68 Pips that I paid in unnecessary rent.

So trading correctly I should have ended up somewhere around 249 Pips in batch #5.

Meaning I am sitting on a goldmine and have to dig down to it by eliminating my mistakes.

Thanks for your help, Immy.

Cheers, Tracker.

[immy]

Now tell me in pips how much is the cost of those 14 much is the cost of those mistakes?

The cost in batch #5 was 281 Pips that I should have made (missed opportunities),
and 68 Pips that I paid in unnecessary rent.

So trading correctly I should have ended up somewhere around 249 Pips in batch #5.

Meaning I am sitting on a goldmine and have to dig down to it by eliminating my mistakes.

Thanks for your help, Immy.

Cheers, Tracker.

I like the analogy! we are all sitting on Gold mine. We are all sitting on it. This reminds me a great story.

"One of the most common causes of failure is the habit of quitting when one is overtaken by temporary defeat.
Every person is guilty of this mistake at one time or another. An uncle of R. U. Darby was caught by the "gold fever" in the gold-rush days, and went west to DIG AND GROW RICH. He had never heard that more gold has been mined from the brains of men than has ever been taken from the earth.
He staked a claim and went to work with pick and shovel. The going was hard, but his lust for gold was definite.

After weeks of labor, he was rewarded by the discovery of the shining ore. He needed machinery to bring the ore to the surface. Quietly, he covered up the mine, retraced his footsteps to his home in Williamsburg, Maryland, told his relatives and a few neighbors of the "strike." They got together money for the needed machinery, had it shipped. The uncle and Darby went back to work the mine.

The first car of ore was mined, and shipped to a smelter. The returns proved they had one of the richest mines in Colorado! A few more cars of that ore would clear the debts. Then would come the big killing in profits.

Down went the drills! Up went the hopes of Darby and Uncle! Then something happened! The vein of gold ore disappeared! They had come to the end of the rainbow, and the pot of gold was no longer there!
They drilled on, desperately trying to pick up the vein again-all to no avail.

Finally, they decided to QUIT. They sold the machinery to a junk man for a few hundred dollars, and took the train back home. Some "junk" men are dumb, but not this one! He called in a mining engineer to look at the mine and do a little calculating. The engineer advised that the project had failed, because the owners were not familiar with "fault lines." His calculations showed that the vein would be found JUST THREE FEET FROM WHERE THE DARBYS HAD STOPPED DRILLING! That is exactly where it was found!

The "Junk" man took millions of dollars in ore from the mine, because he knew enough to seek expert counsel before giving up." Think and Grow Rich


Only "3 feet to gold". Lets not quit digging only to find later that we were only 3 feet away from the next gold vein!