20150206
Short 1 TF 1108.3, -1.4
Short 2 TF 1109.4, 1109.3, +1.4, +2.0
Long 1 NQ 4243.0, -3.0
Long 2 NQ 4238.25, 4238.5, +2.0, +5.0
Short 1 NQ 4245.25, -3.0
Long 1 1204.3, +1.7
Short 2 TF 1111.4, 1117, -1.0, +0.7
Long 2 TF 1110.5, 1110.2, -1.0, -0.7
Long 1 TF 1210.5, +1.5
Total NQ +1.0
Total TF +3.2
Patience is perhaps the most difficult attribute to learn as a Trader. And the moment that most calls for patience is when trying to recover from an earlier loss with the current entry that has, in fact, unbeknownst, captured the next intraday swing correctly. But because getting even or just better is such a safe haven of relief, you are all the more apt to chuck the patience right out the window for the meager piece of the looming excursion for the comfort of the Accountant's prime directive, security. How much easier it is to muster the required patience for the fuller excursion when today's P&L reflects no worries whatsoever, with enough in the bank to make the day and even some to spare. So little is required to show patience there that one can barely claim it to be patience at all. More accurate then to call it just being cavalier. No, true patience is defined, like bravery, by its opposite. As true bravery is only defined by overcoming the presence of fear, so patience is only defined by its opposite, whatever that is, shall we say, anxiety. When you can ride out a trade's fuller excursion in the face of real anxiety, only then can you say to have exhibited patience.
At another potential pivot juncture today, it was the Plan that failed me, almost as if to pour salt in the wounds of me having failed the management Plan earlier. But shaking that off, the same model appeared just before the end of the 1st Frame, and sticking to the model, recovered an earlier loss with a decent 1-lot position. Of the two more true, me or the Plan, the Plan's consistency in delivery always bests my own efforts at following it.
Also of special note today, was my repetition of yesterday's mistake of not giving the Rule of Alternation more respect. It only cost me half as much in losses as it did today, but it seemed that I only learned the lesson half way towards what it deserved. Pay attention. Renew efforts towards acknowledging precise conditions. Stay focused. Stick to the Trade Plan.
