aliassmith wrote:paweldobkowski wrote:aliassmith wrote:Pawel,
Are you still out there, I have a curious question.
Maybe others can learn from the answer or maybe not.
You traded a lot of live trades and killed Crude in the process.
So has anything changed since you stopped posting live trades?
I know you was posting for that "Accountability Factor", do you
find that you trade different with or without it?
took a little vacay
but im still around
thats a great question indeed!
i do trade different now (i think)
well there is a weird process i went through
there were some "bad habits" i got into BECAUSE of posting
i.e. holding onto trades for too long (most of the time)
because i didnt want to spam the board with 3 - 5 tick scalps
so i had quite a few 7 - 9 ticks winners turning into around BE
so i fixed that immediately when i stopped posting
but it backfired!
turns out when i do that i tend to start cutting everything short
its just easier for the head to deal with
holding for 20 - 40 ticks or more is just hard
my hit rate went a little down
and i noticed a cut in profits
that wasnt cool
so i went back to that overholding mentality
and that fkn didnt work either
and finally i realized its about holding little more than comfortable
but most importantly it was about focusing on the work
when i was trading here live 100% of my attention went into this
i was scanning levels
looking for opportunities
watching trades unflod tick by tick etc.
and its hard to maintain that without that "Accountability Factor"
its natural to get distracted and make shortcuts
i think people are bullshting themselves
i think most of the traders get into habits
and they repeat them without thinking
i remember vividly
people in props playing poker on one of the screens while trading
its not that it will kill you
but 100% focus made create outstanding results here
(at least for me)
i trade little different probably
but more or less im back
i just split my day into digestible parts
1 - 2 hours of full concentration at the time
more breaks etc.
i will be coming here back shortly probably to post more
maybe from Monday?
anyway how are You doing Al?
Thanks for the response. I'm doing well a good green week.
Just maybe your response can help someone understand having accountability could be beneficial to staying on track.
And yes full concentration for a hour or 2 with a break is good for scalping. It takes a lot of brain energy to make decisions every second. Plus coming back is like getting a fresh perspective.
Ok I'll look for you Monday.
good to hear that man
being honest and sharing makes keeping standards easy
as Warren Buffet once said, i paraphrase again
but it went something like:
"i tell my employees to only take trades they wouldnt be embarassed to share in the newspaper the next day"
he said he's ok with any trade that passes this test
there are people who would post brainless trading
and just dont give a sht
but i think at this point trading is not their biggest problem