trader_docP

Trader wanna be. Pragmatic. Logic prevails. No emotions.

[trader_docP @doc_BP]

@UncleBugatti yes for me 2

[trader_docP @doc_BP]

@paxtrader777 Well, I shorted ES pre open and had a bracket - target & stop loss. Target came within .25 of hitting right at open and got missed, so stop loss got hit & after taking me out, market proceeded to sell without me. Ninjatrader site was down and nothing to do but watch.

[trader_docP @doc_BP]

@CarlFutia @carlrealtime not seeing it on this one, but the carlrealtime feed

[𝕋𝕙𝕖ℙ𝕚𝕧𝕠𝕥𝕂𝕚𝕟𝕘 👑 @ThePivotKing]

Quote for the day: Please like and retweet if you agree with the following!

You don’t need to be a genius to be a successful trader; what matters most is consistency. Trading is not about making brilliant, once in a lifetime moves, but rather about sticking to a well-thought-out strategy, managing risk, and making disciplined decisions over time.

It’s the small, steady gains that compound and lead to long-term success. By focusing on consistent execution and avoiding emotional reactions to short-term market fluctuations, traders can build a track record of success without needing to predict every market move perfectly.

[trader_docP @doc_BP]

@TNTraderLLC @TradeStation same here, NONE of my future orders are going in. i couldn't cancel an open order either

[trader_docP @doc_BP]

@AdamMancini4 @TradingNPoker great advise, thanks. I have noticed you masterfully trade after hours as well, something I tend not to do, which causes FOMO the next day.

[trader_docP @doc_BP]

@AdamMancini4 Hey Adam. Been reading your NL but still not able to execute for whatever reason. I know you use "market" order for entry, but what about the level to level trading/exit? Still market or put limit order in? Thanks

[trader_docP @doc_BP]

@ThePivotKing i see low of 5120, and high of 5277 RTH. not sure I'm following

[trader_docP @doc_BP]

@ThePivotKing ES & RTY

[trader_docP @doc_BP]

@ThePivotKing Nicely done. didn't think it could happen but you called it

[Tansu Yegen @TansuYegen]

Phone addiction - Simon Sinek👏👏👏

[trader_docP @doc_BP]

@ThePivotKing Still holding? I sure missed long 🤦‍♂️🤦‍♂️🤦‍♂️

[Corey Brooks “RoofTopPastor” @CoreyBBrooks]

My community may be on the bottom of society, but the power of American principles and America’s promise are equally ours: Read what I have to say about it! https://t.co/sTWYMCA4Lt

[trader_docP @doc_BP]

@ThePivotKing so many things don't make sense to me anymore. btw, been missing your charts and take.

[trader_docP @doc_BP]

@AdamMancini4 Thanks Adam. Been following you and even reading your daily NL, yet for some reason I always think of rug pull and think market will roll over given all the macro. I see you do this so easily and I'm like wow, but then how do you remove your bias. If intraday, I see shorts

[JaviCharts 🤘 @ChartsJavi]

This Mark Douglas video over Trading Psychology was helpful for me. I've struggled with confidence in taking trades in my short trading history at times. I think it was for a variety of reasons.

1. Feeling a need for every trade to be a winner.
2. Being a perfectionist wanting to "check all the boxes".
3. Prior losses while learning in the back of my mind making me fearful.

Mark addressed these issues reminding me of things I kind of already knew but was good to reinforce and to connect the dots. We must think about trading in terms of probabilities. Every single trade doesn't have to be a winner. Our edge isn't in every single trade being successful, it's being able to make money over a series of trades even if most of them are losers. This is possible because mathematically there is harmony between your batting average and the risk reward ratio in the setups you take. You can be successful only hitting on 30% of your trades if you shoot for a 3:1 risk reward ratio. When you go into a trade NEEDING that trade to be a winner because you EXPECT it to and you've sized for it you're setting yourself up for failure because you're going to be emotionally attached to that trade and possibly make a bad decision.

If one or more trades in sequence don't work out for you that isn't a reflection on YOU. You aren't dumb for having taking them. They weren't necessarily wrong. Don't even think about them being right or wrong after the fact. If the setup and conditions gave you a green flag and you took it that was what you were supposed to do. You can't control anything else after the fact other than your risk.

When you go into a trade you should already have accepted your risk on that trade therefore there should be no emotions involved after that. You know that per your system you can have X of these in a row and still not even be remotely close to blowing up because over the span of several trades your system will eventually make up for the small losses you've accumulated.

I somewhat disagreed with him in one area and that is in that he says no two trades impact one another. Yes, one coin flip doesn't impact the next BUT in trading I do think that in a way our trades are correlated in that PERHAPS our style or methodology is not in sync with the current market conditions. So if you've taken several losses in a row instead of saying "keep taking them if they show up" I would say either take less of them until you gain traction or at least use progressive exposure (@markminervini) to scale in and out of them so that you are trading your biggest when you're doing your best and trading your smallest when you're doing your worst. I think you absolutely can get chopped to pieces trying to stubbornly trade your style in a market that isn't conducive to it otherwise.

I attribute my desire for every trade to be "perfect" causing me to hesitate to being a perfectionist due to my career as an engineer and software guy. Heard similar from fellow engineer @AsymTrading. My whole life I've lived in a world where there are concrete formulas to solve for a given problem. In engineering and software it either works or it doesn't and you're not going to break the rules of physics to make something happen. But in trading it's never going to be perfect. You will hardly ever check all of the boxes. If you sit there and hope for that you'll be left with analysis paralysis and you'll never make a move and that's often what happened to me.

To be honest trying to be a great options trader and not focusing on a higher probability of success approach with commons only has contributed to many of these negative traits. When you're trading a smaller options account to try to learn there is not a lot of room for error so you do end up becoming emotionally attached to the outcome of each trade which as we've said is not conducive to good trading. I've known that as a full time engineer I don't really have time to be trading options. I can't always be around screens to manage the volatility that comes with that.

Not only did those negative traits that I learned from trying to tame a wild stallion impact my small options account but they ultimately take focus away from managing my larger and more important commons account.

Trying to conquer options is an EGO thing. The mentality being that I NEED TO CONQUER THIS method of trading because everyone else seems to be doing it and making a lot of money so why can't I? I'm not dumb. How can they do it and I can't? But that's on Twitter. When I'm focusing on learning about trading from literature all I get is feedback saying YOU DON'T NEED OPTIONS. In fact that's the harder path and trading is already hard enough as it is. Traders that I really admire and learn from that think this way: @markminervini @1charts6 @jmoneystonks Stan Weinstein etc etc.

Sorry for the rant but in summary I'm going to focus on just taking the damn trade if it suits my system and either focusing way less on options or dropping them altogether. I wish you guys the best of luck.

https://t.co/fzKM0uC8Fc

[Adam Mancini @AdamMancini4]

One of the best "gifts" you can give yourself as a trader this new year is to develop/hyperfocus on 1-2 setups. Having an edge by definition requires being a super specialist in a tiny area of price action. Focus too widely, you lose. For me, its mostly failed breaks & back-tests

[trader_docP @doc_BP]

@ThePivotKing How did it end for you? Fuck up a century, my short cover order didn’t get filled at 4581. Missed it by .25. Exited at 4611.5 and booked a loss 🤦‍♂️🤦‍♂️🤦‍♂️

[trader_docP @doc_BP]

@ThePivotKing dang you are good, way to go. i thought u got stopped but nice gain on 1/2 and breakeven the rest. thought you got rinsed, nicely done