20140110
Short 2 NQ 3556.6, 3556.6, +2.0, +4.0
Long 2 YM 16392, 16392, -6, -6
Long 2 NQ 3549.25, 3549.25, -0, -0
Long 2 ES 1831.75, 1831.75, -1.25, -1.25
Long 2 TF 1150.7, 1150.7, +1.0, +2.0
Short 1 TF 1157.3, +0.8
Long 2 TF 1154.4, 1154.0, -0, +1.2
Total YM -12
Total NQ +6.0
Total ES -2.5
Total TF +5.0
Exiting too soon is a major problem for many traders. They cannot tolerate taking a loss, so those they let run. But when a profitable trade finally appears, they must book it quickly to help pay for the losses and to supply some much needed mental reward to the pain of recent losses. At other times, you're just unsure of the position, and a profit that seems to be at hand in a trade you don't believe in is a profit you take quickly. I took profits several times today too soon. Not quite because I didn't believe in it, but more that I only believed in it at the entry level, and not enough to overcome the resistance or support numbers it had to face in order to trend. If the model was correct, it deserves a trend that extends until a reversal signal in the opposite direction appears. And that much respect, I simply did not offer to several trades today. This has long been a weakness in my trading, and curing it won't be easy. But the road to behavior change starts with acknowledgement. It then requires repeated attention. It must then have a method on which it might rely for the change. And then it takes continual determination and awareness to accomplish the opposite of the fault even once. Acknowledge your trading weaknesses. Resolve to give it repeated attention until the very act of recognition becomes a habit. Resolve to see the fault coming before you commit it again. Act on the method to see the fault into the changed behavior by using a goal that would be accomplished only if the fault were overcome. Reach the goal. Look to repeat the new behavior. Enjoy the weekend... Stay focused and disciplined.
