Today Was A Good Trading Day | TRIN Café

Today Was A Good Trading Day

Sharing is caring:

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"

COMMENTS

BLOGGER: 2
  1. It took me a very long time to realize that most days should not be traded and that one can still do very well on those few where conditions favor your method.

    ReplyDelete
  2. Thanks Michael for the comment. I began trading with real money while I was living in Germany, because of the time difference I was only able to trade the afternoon session, from 1-3pm, I was very successful, I was even considering quitting my job lol. As to your point, limiting time staring at bad trading conditions that do not favor a traders method is an expensive lesson to learn, grasp and hold on to. Thanks again for commenting.

    ReplyDelete

Name

A+ Trading,3,AAPL,1,About,1,Amazon,1,Better Trading,13,Blog,52,C- Trading,1,Cartoon,1,Chop,2,CL,7,Comic,1,Congestion,1,Cool,1,DIA,9,Easy Trading,2,ES,2,ETF,1,Euro,1,F- Trading,2,Futures Trading,6,Good Read,4,HE,1,Headlines,9,Info Graphic,1,Jesse Livermore,1,Labor,1,Leisure,3,Lifestyle,3,Long Term Option Strategy,1,Mental,1,Method,2,Money Management,2,News,1,Office,1,Old news,2,ONE,1,One And Done,1,Options,14,Psychology,2,Pundit,1,QQQ,1,Quotes,3,Risk,1,Sim Trade,1,slider,1,SPY,2,sticky,1,Technical Analysis,36,Thought,3,THRM,1,Traders Tech,1,Trading,20,Trading & Investing,1,Travel,2,Trend,1,Trin Café,1,Trump,1,Unions,1,UVXY2,1,Video,2,VNQ,1,Weekly Picture,1,WFC,1,Win,3,XLE,1,XLF,1,XLK,1,YM,9,ZC,1,
ltr
item
TRIN Café: Today Was A Good Trading Day
Today Was A Good Trading Day
https://3.bp.blogspot.com/-c6SWmPKBS1E/WSOSUSsMKrI/AAAAAAAABTg/sexVgyWq74k8Tkk0KoHzosgz_pUUyO53ACLcB/s640/chop.jpg
https://3.bp.blogspot.com/-c6SWmPKBS1E/WSOSUSsMKrI/AAAAAAAABTg/sexVgyWq74k8Tkk0KoHzosgz_pUUyO53ACLcB/s72-c/chop.jpg
TRIN Café
https://www.trincafe.com/2017/05/today-was-good-trading-day.html
https://www.trincafe.com/
https://www.trincafe.com/
https://www.trincafe.com/2017/05/today-was-good-trading-day.html
true
4387547293353613323
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy