Monday
I slept in again–40 minutes late!
But it’s Monday, there’s no overnight market activity 
Monday is a free pass.
I have had a lot of time to think over the weekend about the public nature of my trading and I have come to a conclusion that if I am not careful with the advice I’m being given by traders on the internet, I may just end up like Peter Keating instead of Howard Roark.
I now see why the book Fountainhead is considered mandatory reading by many of the world’s top trading firms.
Not that I don’t appreciate the advice–I think I need to log some trades for a while before I measure my trading against the advice, then make an adjustment.
For example, Friday was a complete mess in terms of execution (the first trade) and that change was brought upon by @Emekadavid who was disappointed I had only booked 1R instead of the 4R paper profit I had.
I followed my plan so there are no regrets there, but it made me wonder if my plan was good enough.
I finally looked into Emekadavid and on March 31, 2020 he said he started on demo 8 months prior. I’m open to advice from anyone but I have to be careful; even if Emekadavid is a handsome market genius who is successful right from the beginning.
Every time I add change my trading gets worse. This diary–this new journey, is all about discipline, psychology, and most of all achieving consistency.
It’s not about making a million dollars (it used to be) and it’s interesting that some people think I have failed just because I have a losing trade or a drawdown.
After losing for so long, I believe that if one wants a flower, you cannot think flower. You have to think of getting the best manure, the best soil, the best location, etc. The flower will be a byproduct of the above.
I have long ignored the manure and the soil, and gave the seedling too much water and sunlight.
Anyway.
Monday–I only see one potential trade and I think it might be a B setup which means I will have to size down. We’ll see what the drill down reveals. If it’s a clean setup in the lower time frame it becomes an A setup.
While I wait, it’s time to squeeze in exercise, family time, and some cleaning.
Update:
Still waiting for the market to make a move. Meanwhile I’m working on releasing the next blog which is the most time consuming work I’ve done yet.
My spirits are up a bit too as I just saw a notification that a previous track record of mine on Myfxbook finally qualifies for copytrading (now they tell me!).
I had abandoned this strategy though as it does not suit my temperament (nor does it suit funding programs); however, it’s nice to know that there’s now more hope for the future in terms of non organic growth.
Of course, I’m thinking copytrading is another new thing to introduce to my trading/trading psychology which could have disastrous results. Plus I hear the trade replication isn’t very good.
Update:
I see the setup is forming nicely. There’s potential for an A trade here. In about an hour or two it might be a trade. I remind myself that I usually jump into a trade before the setup fully forms because I fear I would miss out or not get a good price. Maybe, some big news comes out, I say to myself.
In many ways I am glad I don’t really do very active trading anymore because I am a slow thinker, so now I get to give myself warning that there is potential for stupidity in the next hour or two.
I have learned over the years that I cannot think fast enough to make great decisions scalping/day trading. I guess that’s why I hate shopping with the wife too–there’s too many decisions over the course of many hours for me. I think she has the makings of a day trader.
Update:
As I wait for price to setup, I find myself thinking about post trade commentary from self and others.
One could say, I decided not to take the trade because of x but now I feel the FOMO as price continues at a rapid pace; the post trade commentary could be that maybe I should have a better plan or I should have put in a small size, or that I got emotional…
One could also say, I took a full loss on that position, my gut was telling me it was going to turn around and take me out the whole time; the post trade commentary could be that I should have trailed it, took some profit or killed the trade as soon as I had the feeling/things looked bad and took the profit.
It seems untenable.
I think the best thing is to ask if the process was executed to perfection, regardless of feelings. In addition, if there’s enough data from that trade or a series of trades to warrant a change in the process.
I’m also thinking, I didn’t want use my willpower to stop myself from eating donuts (that my kid asked to buy) because I need it for trading discipline, so I ate some with the hope that the sugar rush doesn’t affect my focus when the time comes.
I guess I can do sprints before game time because exercise enhances focus! I’m such a genius–but I digress.
Update:
After an hour or two, I’m calling Monday done and dusted. I’m looking at the charts and I think there will be no trades for me until Thursday or Friday. We’ll see though as the market is so fluid.
I must say, I did good today by not exploring new strategies which is a tendency of mine when I’m waiting.
and I wished I could lay golden eggs. 
