Monday, August 19, 2013

Habits. Aug 19


Good trading comes down to good habits.   Planning, careful execution, study, careful review/analysis.

Some traders probably prefer some of the job over other parts.  And obviously, some traders are just jazzed by the thrill of gambling, not the daunting grunt work of the process.

One has to be honest with oneself regarding the work and one's habits.  Just showing up isn't enough to achieve CP.

And on top of all that is the self-control to execute religiously.  Trading requires us to perform at the top of our abilities every single day.  Most jobs do not require 100% concentration, 100% of the time.  Hardly.  Most jobs don't even require us to actively use our brains all day.

Wanting to succeed is not the same as willingness to work hard to succeed.

If this sound familiar, it's time to commit to small changes to improve habits, and performance will follow.  But it takes time and commitment and not everyone want to make the sacrifice.


aug 19.

/tf  -.21%  to 1019.

strong: fb, tsla, ddd.   AAPL

weak:  grpn, trla, z  ocn, /cl

$namo -60...  amzn down 5 days in a row... light vol. in Aug.

/tf - flips green 8:50 am

oversold here... may be low vol squeeze to start.

/tf flat.

wedge  now  10:22

/nq  .93   despite ADn -900+


Remember: Your rules don't protect you from the market, they protect you from yourself.

short  /nq  triple touch,   ADn -1000+,   negative vol.     vix green,    xhb, xlf, iyt red.

/tf -- and I saw it real time -- synched into a dTL -- and dropped to a triple bottom...

ADr -300 and dropping.
ADn -1400

ADn  -1500   severe -- big shift -- market would have bounced long before this weeks ago -- sentiment has broken on Taper.

/nq  dTL broken -- could squeeze...?

AD -1600 --    no reason to fear being 'part of the herd' -- it's only at the ends is it dangerous... in the middle of the herd, the worst thing to do is face the opposite direction.

IWM -  just touches 50 day MA today...

meanwhile... xhb   below 200 day MA.
xlf below 50.

Difficult to hold a winner.  Why?  Threat of giving back a small profit overwhelms the process of staying in a trade that is working.

Today - correct play was worth around 70 ticks.


/tf 1012.3...110 ticks high to low intraday....

All you had to do was wait for TL to be clear... and then everyone saw it.

What is difficult about holding a winner?  Is it not trusting yourself?  The process?  Where does you mind break with what you know is the plan?  How can you break the wrong habit?

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