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5/22/17

Today Was A Good Trading Day

Avoid The Chop

Starts In The Mind

I really had better than a good day, and I didn't make any trades. I have been that guy so many times before where I would find myself in a trade I wish I could take back. Because I pride myself on not being a quitter, just one bad trade is never enough (sarcasm). Today I woke up with a confidence I have not had a for a while; I'm trusting in my consistent technical analysis and mental approach to my trading. My routine mentioned in another post includes a little journal writing before getting started with my day, I review my method, prepare my charts… and squeeze a bit of office fitness into the day. I admit the office fitness has been lacking, need to get back at it.

Nothing To Trade

It was a sideways day for the majority of my watchlists, it was clear to me early that making a trade was not going to be in the cards for me. Price traded in a tight range, the same kind of range I have found myself trying to justify for so many years. I claim to be a trend trader, if you look hard enough, you can find a trend in anything. For my method and trading time frame, I have to safeguard against congested market conditions.

Mental Physical Social Emotional Spiritual 

Instead of sweating it out in a choppy market, I went to lunch with some old colleagues. I'm sure I appreciated my lunchtime Margarita more than anybody else in the restaurant. The focus I would have spent on the market was available for a social interaction, a welcomed change of scenery from the solitude of the office. I can admit that I am a self-help nerd, my bookshelf consists of how to trade and understand financial markets, geopolitical conflicts, to how to live a better life. One of my good reads that left a lasting impression on me was from Stephen Covey's The 7 Habits Of Highly Effective People, investing in the four dimensions of self (sharpening the saw). The graphic below is a summary of the four dimensions, mental, physical, social-emotional and spiritual and a great video that summarizes all 7 habits.

Sharpen the saw
Sharpen the saw.





Trading Results 5/22/17_________________________________________________________________________________

Instrument: Avoided the $#@! chop.
Total # of trades: 0
Percent Profitable: 0%
Avg. Winning Trade: $0
Avg. Losing Trade: $0
# of winning trades: 0
# of losing trades: 0
# of even trades: 0
P&L Total: $0

YM 5/22/17 Congested price range.
CL 5/22/17 Congested price range.
“Better Trading Ahead!”

"When you are discontent, you always want more, more, more. Your desire can never be satisfied. But when you practice contentment, you can say to yourself, 'Oh yes - I already have everything that I really need.

- Dalai Lama"
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