The Monster Within Me

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The Monster Within Me
There is a monster within me. His name is Phil. These are the journal's that will record my battle with the monster and his attempt to keep me as a losing trader. But I will prevail and learn to control this monster within me. I will be a great trader, I will be in control of who I want to be.
I will SLAY THE MONSTER within me so that it can no longer control me and my thoughts.
By becoming an Observer of the self, I give authority to the Empowered parts, to be all I can become.

Brick by Brick

Wednesday, December 18, 2013

Pulling the trigger day 12

Today while I did well for a change. I am aware that I still pick and choose the crossovers. I am going to write down my observations of the market as it relates to the t channel set up.
  When the market crosses (over) there are only a few things that can happen with price.
#1 It will either continue on to the 2 target levels and maybe beyond.
#2 It can chop around over and under for around 3 or 4 closes and before it then it moves off towards the outer or inner bands in some direction.
#3 Or it will completely reverse and head off into the other direction making its way to the outer bands and maybe beyond
So while this may seem like alot of possabilities. I have come to observe that if one just takes his entries and be ok with getting stopped out that over the group of trades for the day that good results will be had.
As in the game of basketball there are many shots thru-out the game. some missed and some (in).I must view the day as many trades instead of the one, to win this game of odds (in)

It is #2 that the mental game is most at play. It is what causes me to want to avoid and to pick and choose the entry.  the problem is you never know what will happen and are often left behind. It is better to have taken the shot and miss, than to not play and miss out on the wins. as the misses are not as many as the wins.

As I watch the market  moving thru the t channel methodolagy I am become aware that it may be better off to be trading 2 contracts taking profits at xx and letting last run.  but I will stick with my plan as it is more of an exercise in following a plan without fail.
Though looking at things as a professional would, I can see moving the target to 4 pts would be a good thing to do. And just taking the 2 pt stops like a man.

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