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The following trades I closed out as I made the error of not trading in the 61-100% for either the Weekly or Monthly Pivot set Indior. Losing trades are a way to examine, learn and improve all skills - from poor installments to avoiding over-trading with greed.
-52.9 AC - I took commerce too close to the central Pivot rather than the correct Zones noted, so I manually closed to save money:
-14.4 AU - Again, trading between 61-0 Zones rather than the higher likelihood of Swing Trades from the 61-100% Zones - so I shut manually as I use on a gentle SL in my head of what is my tolerance to my own equity and/or poor installation such as here:
-765.0 EC - my worst loss since I took a short-trade in the wrong place and that I waited too long to cut my losses.
Only below the R61 percent on the Pivot-Month-based or just below R31 on the Pivot place at the default of weekly - in either case I was not carrying a brief well into the R61-100% Swing Zones:
Hello JohnOriginally Posted by ;
Take a break clean your head.Focus on pairs you had success.Follow these pairs only.Practice patience.Its easy presing a commerce demands no hard work however awaiting directly set up does take effort.
Good fortune.
Don't beat yourself up.Forgive your self and learn from the errors.
Chapter 24
FORGIVENESS
One of the largest problems I see with traders is they refuse to forgive themselves for trading errors. This causes a far larger issue than many people realize. You see, when you make a trading mistake, you have to forgive yourself for making that mistake.
But the thing is many people don't forgive themselves for their errors. In reality, they do quite the contrary. They beat up themselves and continually envision what they did wrong in vivid detail. This is the very worst thing you can do after making a mistake, trading or otherwise.
Forgiveness is a key notion in P-Cybernetics. As we#8217;ve just learned about how our subconscious works, we know that if we continually envision in vivid detail something, it causes that picture to come true for all of us. Or it at least makes it far more likely for it to come true. Therefore it just makes sense that if we make a mistake, then we must forget that mistake and forgive ourselves completely. If, on the other hand, we don#8217;t forgive ourselves and relive the mistake in our heads over and over, what do you believe will occur?
It#8217;s clear that we'll repeat the mistake. That happens because our subconscious doesn't care whether we give it bad or good information, it simply sees the clear pictures we give it and attempts to act it out in our lives. Evidently, it can just act this picture out if it#8217;s within our capacities. And I believe most of us recognize that making trading errors is quite in our capacities.
This is why it is so important to forgive ourselves when we make a mistake or an error. If we don#8217;t, we're likely to relive the mistake in our heads and then most likely project it onto our trading. This will result in huge problems.
If you think back, I#8217;m certain can you think of times where you made mistakes and beat yourself up for it. Not forgiving yourself, no matter what the mistake, will bring out the worst emotions. Remorse, regret, self-doubt , and guilt all come with not forgiving ourselves for a past mistake.
You#8217;ve heard it before. I#8217;m sure you#8217;ve been advised to forget a past losing commerce and continue on to the next one. Emotions are used correctly and appropriately when it applies to something in the current time. Because we cannot live in the past, we could#8217;t appropriately respond emotionally to the past.
As Dr. Maltz states, #8220;The last can be simply written off, closed, forgotten, insofar as our plogical reactions are involved. We don't have to have an emotional position one way or the other regarding detours which may have taken us off course previously. The important issue is our current direction and our current goal. We will need to understand our own errors as mistakes.
65
Otherwise, we could not fix our course and steering or advice would not be possible. But it is futile and fatal to despise or condemn ourselves for our errors. #8221;
One of the biggest reasons people get into losing streaks while trading is since they confuse their losing transactions with themselves. To put it differently, we conclude that since we had a losing trade or a series of losing trades, we're a losing trader.
But the important thing to remember here is we're not our losing transactions. Losing trades are a part of trading. There isn#8217;t one trader on the planet who doesn#8217;t have losing trades. The only way to avoid them is to not exchange in the first place. You cannot be a successful trader till you take errors and losing transactions for what they really are. They are simply by-products from the trading game and have to be utilised to gain learning and understanding. But in no way do they define us as a individual.
But that's where the major problem comes from. A lot of people allow their losing transactions and errors define them. If they #8217;re having difficulty and have experienced a series of losing trades, they begin to consider these as a loser. They continually consider themselves in that way. As we know from before, this kind of thinking will only bring on more of the same.
Forgiving yourself completely is the only way to avoid this problem. You are not your errors and losing transactions. You must put the past behind you and proceed forward. Holding a grudge against yourself just hurts yourself. Forgive yourself, it#8217;therefore the only real way to become successful.
29.1 UC
Monthly PVT setup:
Weekly Pivot Set-up:
IMHO, I believe taking a more conservative Swing Rank with 78-100% over the Voty_PVT-Monthly would force me to become competitive, but maybe much better wins with my personal style-plogy.
Thanks ! I'll do as you suggested. You missed your calling as a Psychiatrist !!! Many are architects that sets them aside to find out what others can't and make leaps in finding solutions !
To view is much more important than knowledge - Carlos Castaneda.
Creativity is more important than understanding Alert Einstein.
Cheers and all the Best !
- John
Thanks John
I used to ruin my paintings drawing because they weren't up to my standards but looking back I wish I kept them since those took lot out of me that lead to improved paitings and drawings.
I believe you are ripe to go next measure in trading .What you need to work on is discretion.Be very selective where and what you trade.Trade without fear.
Being selective and being fearful is not the same.Market is impartial its frightening or loving.Its that which we bring it to it what matters.In fundamental terms we trade rather than the market.
You may do fine.You have paid enough to the market.Its good time you step your game up!
Cheers
OK...I removed the board of trades with poor positions that would likely be too costly and risky on my cumulative maximal DD. And, I carefully took the best setup I could find giving me The Edge as I could see shorting inside the R61-100 Zone, especially on PullBacks after the TDIx:
12.0 EN
Thanks ... I will work on the discretion difficulty! I am sure it'll help me with dating too ! (LOL)
58.0 EN:
Now, I'm waiting to get a Retraces (RT) straight into the 61R-100% Zone, then shorting again with almost any Pullbacks (PBs) from this Zone, and stopping since I get too near R38. If the WP is beyond, then the Bears have better control until the S61-100% where the Buyers-Bulls live.
Thu 3/1/2018 0404
GM Friends,
AU 12:
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