Discipline – how not to go into limit
I have already described a system of double limits on the day, it’s very hard not to go into teaching for the second time limit and stop. At first, this is a very good technique, but when you’re trading for a long time and follow all the rules pass a day reporting season is not very good for your wallet. That’s why I came up with an alternative:
- You have the same limit on day 2
- First conditional, if you go for it then do not trade today
- If you go for a second, then the next day, you reduce your average position and limit the daily double and so every day if you went for it.
- If the day closes with a reduced limit of normal plus you return it back to the original
It seems simple, can you have any additions you??
nyse 
Daytrading -December 3
While honing his discipline and technique, do not deal in great positions. Start with 200 shares and buy more forwards. Here 2 is not bad deal, the rest were zero.
ABX : Barrick Gold Corporation
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No jeweler
After a couple of days all the same understood that a short foot is not mine. Previously did not bother about the stops, even 5 cents or 14 cents, and when I became to try to go anywhere at an unbeatable price and with minimal risk they started giving away too often. Because of this, a good deal closes.
The most important thing – it’s literate stop, even if the price slipped and should not try every time to reduce the risk where it is not possible. Resume normal trade with stops 5-15 cents, but increase the minimum potential in the shares of 60-70 cents.
It is necessary to improve the selection of stocks to look for more stocks with good potential, close to the levels and a clear trend. The main focus on my technical analysis, but now I will carefully read the news and learn of the company. read more
We perfect discipline
We perfect discipline
For all this time of trade I have made thousand errors, I know strong and weaknesses. I don’t have not enough attentiveness, discipline what them not to repeat. If to a smog would will cope with that what not to repeat an error that my results strongly to improve.
In the majority trainings for infringement you corrected put to yourself what that significant punishment and I too need that that such to think up. Yes loss of money already also is punishment at fulfillment of the wrong transaction, but I accept it as the fact that from minuses not to get to, all the same any plus will block some minus transactions. read more
Notes September 23
I remember I wrote in November 2009:
I now have a choice, continue to pour money as well, and spit on all or a return to disciplined trading and stay in this business.
- I would not want to go back to those days on the need to work harder and better execute their ideas:
Again began to think about money, not literate transactions. (You can not make money by focusing on the desired amount) - Stop once and for all open transactions in the first hour
- The best deals were on the continuation of the trend, not reverse it. (You can catch the turning action, but it is very difficult and not become profitable in recent years) read more
I returned from holidays
Just yesterday, returned from vacation, 2 weeks passed like a moment: The sun, sea and sand plus a couple of pretty girls and whiskey helped completely forget about work and the market … BUT I am here again and have to quickly come to the regular work schedule, better results and to enjoy life more. There are a couple of interesting ideas, but the main emphasis on discipline now.
I think the market in these was not very, not watching him.
What’s new in life and commerce? What issues emerged during my absence?
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Notes on August 4
he results of a little experiment: Strict compliance with the trading system
The results are very impressive. From 2 weeks of compliance was one of only a small sub-zero day.
True primordial was negative in the early days, but this is due to the fact that trading in the first hour.
According to its results surpassed the best month in 2 times, but then broke and was unable to strictly observe the rules and lost more than half earned through his own fault.
Conclusion: Keeping Trading System can achieve phenomenal results, the main enemy is the discipline and emotion. The main problem now in this, but not in the shopping method.
Notes:
- We should not too aggressively to raise the position is best to increase gradually by one third, rather than in 2 times more.
- Discipline was lost, there were stupid deal. We must return to the old style.
- The market gradually calm down, the season comes to an end reports
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Results of last week 7.12 – 11.12
WEEK I turned back to zero. Just started experimenting with thick stock and a huge amount, but on other days following his trading strategy with a good plus.
Will try more consciously trading on additional strategies and fewer, until we understand its pros and cons.
It must be harder to maintain discipline and trading strategy. There is no gross errors, but additional strategy took profits on the basic strategy.
Gradually my trade back to normal and getting back to normal, then everything will be fine -)
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Results of last week 30.11 – 04.12
Week to close to zero. Because of non-compliance with its discipline. All the money earned on the lost fishing trend reversals in stocks and averaged them.
- We must stop trading in shares of reversals
- If you trade with the opening there is passion and focus is lost in the transactions and the proper evaluation, I want to quickly catch everywhere
- It is necessary to bring a positive number of deals up to 40%, now it is 30%
- Continue to trade selecting stocks with the greatest potential for success
- We transfer to a stop without a loss in price delta 15 C if possible
- If there is reason to cover a 50% position in the delta of the price of 50 cents
- The size of the position remains the same
- No averaging and increasing the position
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Time stringent measures (part 2)
My trading is getting worse and worse, because the discipline is lost. Start trading from the opening and feelings prevail over me. I can not abide by its rules and losing money. No trading, and a casino then. From tomorrow, do not open until 10:20 terminal and enter the rules are similar to previous ones, but slightly modified.
I now have a choice, continue to just pour money and spit on all or a return to disciplined trading and stay in this business. read more
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