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

Tuesday, December 2, 2014

without health what do we really have

The Qigong was done today but that was about it.  I have decided to get my health back before trading much,  without it life is just not fun.  I did make a new chart of  the different set ups that most use and which ones show better odds. It is interesting to hear my thoughts as I view each (set up) that I have drawn.
 The bottom line is that they all have one thing in common.  One needs to enter with a stop of some distance and let it play out. Price does not move in square boxes but price over laps creating I am wrong I am right moments at every tic,  You cannot possably pick a price and get no heat .  I think that is where most fail.  in the execution.  the waiting for confirmation that once seen  changes with or against you all throughout the price movement,  It is the wanting to get in at the (perfect) price.  The wanting to get in without taking any heat.  It is the fear that this edge will not hold and i lose money. I must review the chart and observe the thoughts that are at each bar and realize the futility of picking direction.
I have also realized that most traders trade 1 box level. with a stop at the next level or breakout. A pro trades 2 box levels reallizing that within those 2 levels one has to be proven wrong twice, all the while adding and subtracting contracts taking small profits out along the way to offset a 2 level lose.  A pro has reallised that he can trade a bigger box than most and take profits out of all the noise caused by beginning trader stops and enteries.  I must somehow learn to take advantage of the constant 2 -3 pt moves in NQ  instead of waiting for the special moment on some distant edge that happens so little.
These are the basic set ups that most see and use.
break out, noise/range scalping, top and bottom picking of s/r levels,  break out and pb's.
So while easy to see after the fact on a chart.  trusting in what ones sees on the hard right edge is another story.
the noise/range is hard to see unless it ranges along time and show up (after) a b/o.
s/r levels are faiurly easy to see and wait for
and b/o pb are usually easiest to see
Yet they all have one thing in common. Do I believe in the level to hold and reverse and head my way. or will it turn against me on the exact bar that I pick to enter even though I have just watched it hold on the last 5 bars in range/box outer edge.  Is a range area nothing more than a area where bars hold at a defined edge only to fail on the exact bar I which to choose to be bold and risk the odds that it will still stay in my favor.

When I can control the fear that surrounds these thoughts I will be move forward to better trading.



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