Oct 1 – 2pm update (all personal reflections)

I got to my desk at 6.45am this morning – spent 3 hours in Joe’s trading room watching them trade off 15M charts.  Then took a brief break at Cafe 1001 to kind of focus.  Then returned to the office to analyse the market in terms of STAM and supply/demand.  I bought some lunch and ate it at my desk.  There were no STAM setups.  However I took a trade on AUDJPY (s1B) on the basis of supply/demand.  I broke back into the habit I had in late 2011 where I would continuously watch the trade (without taking any action) and it more or less paralysed me and made me non-productive.  I tried to continue with the demand/supply analysis, and on that basis took another trade on GBPCHF (also a S1B).  The AUDJPY trade just got stopped out.

It’s been 7 hours (more or less) that I have been at my desk now.  I need to take a break, do my skate training, and then come back later and finish the work I had left.

I closed the GBPCHF for a small loss, on the basis that I doubted whether I made the right judgement on the trade.  Limit the damage if I think I am no longer trading with an edge?

When I come back, I will comment on this entry – see what I could have done differently.

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One Response to Oct 1 – 2pm update (all personal reflections)

  1. I ended up going for a decent physical workout, and then had a think about how I behaved this morning and what I can do to improve on things.

    Introduce more discipline – not only as far as trading setups are concerned, but also HOW and WHEN I complete my analysis of the markets. Discipline is one of the key strengths that I bring to the financial markets from other successful business projects and from my competitive sports training and I realised that my trading discipline is not on par with the discipline of either of those other endeavours.

    Go get some discipline.

    Like

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