Wednesday, February 5, 2014

Feb 5, 2014

-28.34 on 7 contracts today.  Markets are so volatile these days, INDU was +5, within a blink of an eye was -100 and then right back up to +26.  Needless to say I was in at some peaks and out at some all day lows.  Rode my last trade near perfection though, just couldn't quite make up for the prior 2 bad trades.  Thankfully no real harm done but I'll try better tomorrow. 
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6 comments:

  1. MichaelFebruary 5, 2014 at 1:17 PM

    I used to get hit with that kind of slippage a lot in the YM.

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  2. technicalsuccessFebruary 5, 2014 at 2:47 PM

    Volatility cuts both ways...only underscores that there's definitely some $ to be made in this game somehow.

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    Replies
    1. MichaelFebruary 6, 2014 at 4:29 AM

      I don't know how long you've been trading, so you may have figured this out long ago, but the biggest challenge to this game is figuring out the psychological challenges. Many psychological problems will disguise themselves as technical or system trading problems. Humans are not wired for this business, none of them, In every case I've seen and experienced myself, when one has problems sticking to their rules or repeating the same mistake over and over again, it's a psychological issue that's to blame.

      Delete
  3. technicalsuccessFebruary 6, 2014 at 11:46 AM

    I agree 100% that the mental aspect of trading is key and that it causes repetition of mistakes, violation of rules, failure to follow the game plan, etc.

    I've been at this long enough to id that the mental aspect of the game is most difficult to overcome and it's the part I'm focusing on right now. I'm confident in other aspects of my game, just can't quite get over this part yet. I'm hopeful that this will be the year I finally overcome it.

    Thanks for pointing it out.

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