Doomberg's Journal - Ticking Along Nicely

[Doomberg]

Yes i have noticed that my control has got a lot better over time, today i'll see as just a blip and a reminder to respect the market... because the market watches you and if you don't respect it, it will get you, like it did me for 500 points today... anyway as you say, onwards and upwards

 

[p-lab]

Hey doom, I feel your pain fella. I have been very impressed with your daily stats. Pulling 250 odd points a day is no mean feat. But the drawdown does happen at this level. If its any consolation I have had the exactly same experience 2 weeks ago today dropping 100 points in a day. Makes you focus on the mind game. Chasing is and has been my biggest problem.

Perhaps gone if you had gone with a mac trading station it might have been better

 

[Doomberg]

I think i've been chasing too many points tbh, i said in the start of that the best way i can trade is when looking for a small amount of points and be happy with 10-50 points per day. Overtrading can be a really bad thing, when this trading was done (midnight last night to 8am) i was exhausted as i'd not had no sleep so that can't of helped. I should of stopped chasing when i seen troble, and lol my mac always freezes and my multi screen computer has never worked as i need parts for it, just on a normal laptop for now

 

[p-lab]

Get the mac out for the profits Doom. Chasing its such a curse. Your profits are supreme so don't take it away from yourself. Get on mac pro and I will see you there soon. Good luck man.

I'm using spaces on OS.x works well for single screen

 

[YouAreNotFree]

Hows it going?

I've adopted the same b/o strategy on a 5 min t/f this last 2 months as my Market Profile analysis method was only giving me 7-8 trades per week and I wanted to be more active. Having alot of success with both

I'm only looking at the DAX and UK100 though, taking a couple of breakout trades per day on average. I'm nowhere near 100's of points daily but pulling a high win rate.

 

[Doomberg]

Ok guys i'm back, work has been busy so i've not had much time to trade. However i have been trading the last 48 hours and let me tell thee it's been craaaazy. I've had some time spare so on monday morning i started trading Indicies and EUR/USD.. about 20 hours later i'm still trading and i'm up by about +400 points. I started to do my notes and finish off and did the deadly "one last trade" and then 4 trades later i'd blown the +400 and was down to +3.5, i was tired and should of just stopped, the markets changed direction and i did my special where i believe it will return and added to my positions. Anyway i was stopped out by 0.1 points on all positions and then 5 seconds later there was a massive move down which would of been a nice earner.. instead of earning a large sum on top of the money i'd made for the day just lost it all as i was doing too many contracts at once like a doofus.

This morning i woke and thought i'd not rush in to trading but my 1st trade hooked me a nice profit and by 4pm i had made more than i did yesterday at my peak. Again i was going to quit there and go out for a bit (which i should of really) but i carried on i then got stuck in a trade and added to it (once abloodygain) and ended up getting anally raped by the Dow Jones and i currently stand at -30.

I am starting to believe more that it's not a co-incidence that i can bag large numbers of points quite easily, but i need to stop doing silly things like increasing my stake sizes to levels that are just stupid for my account size, there is no point in earning points if i will just give it back due to rule breaks. I believe i can do this and go far but i've got to stop being an idiot about it and take it more seriously. It's not a laughing matter to see a large sum disappear so i need to learn to focus and know when to finish off for the day. I've done it so many times, been up by a large sum and go to bed flat or minus.

Anyway in the New Year i will have more time for this, hope all is well

 

[p-lab]

You are trading machine Doom. 20 hours straight what can I say. Plus the fact of 400 odd points. I think you have answered your own issues above - WP summed it up well on the other thread. I think nearly all traders here have experienced the same and perhaps its just a part of development. Once you realise these habits - running to the toilet and the like (I know that one) then its easier to break them.

What did I say - get the mac out Good luck

 

[Doomberg]

Haha i sometimes avoid running to the toilet by taking the mac with me to the toilet :clap:

And yeah i just need to straighten out, i know i can do this but i just need to stick to my rules, tbh i find this bit really hard