Sunday, December 5, 2010

the Process

"I have tried my very best, but it just don't work out".
Don't be disappointed with the result, be happy for yourself for being your very best.
Focus on the Process, not the destination.
Bcz you gave it your BEST.

How you become successful if you didn't pursue excellence?

Caring for the process, the process, the process.

I have some disappointment over this trading week.
I did a few queue to long GBP/USD, at initial shadow, combined with the reversal pattern on Day Chart, signals the market turning up.. but I have missed it, Long the 1st day, the 2nd day..
I missed the entry, with only 4 pips, 5 pips...

I watch the market rebounded, and continue to escalate.

Day 2, I watch the market rebounded, turn up, and formed a reversal sign at top and come down, but i didn't removed my entry to Long and got killed with a loss of 50 pips.

I feel disappointed, for being unhappy bcz I didn't get an entry when I am right.
I feel disappointed, for not willing to remove my order when market signals the opposite and kill my trade.

I am disappointed with myself, bcz, I know what I see, but not trading the same.

And I start to see myself after some time to think about my trades...
I start to learn that I am too focused on the result, the money, making $$$, losing $$, to measure my success.

The process, the process, the process... is the only thing that I should monitor.
and I start to learn, the reason of my shrinking trading account size, is myself not doing the right thing.

How can a novice trader, with only 4 months Demo + 4 months Live swim in the high and low tide of the sea?

And I learn the questions mentor JC has asked:
1) Which trading setup brings the most consistent result?
2) Which trading setup you feel most comfortable with?

Ignorant.  Me.  Ah-you-Me (Ayumi).

I do not know the answers of the above.
Just like master Bryan said, "you have some work to do...."

Yes.

I agree, I am only going to trade on Demo, for the next 6 months.
There's something, more things that I am gonna fix.

Myself.

That I will be kind to myself, to allow myself to learn, to try to be my very best, to find out, which setup suits me, and to craft the setup, the set of rules, for myself, to myself.

I will focus on the Process, the process, not the result.

I will work at my best, I will find out the rules and find out the most consistent setup for myself.
I will put a lot of energy, effort, and I will care, for every bit of the trading decision.
Think twice, and observe myself, during the whole process.

Demo Begins.
5-December-2010
the Search, has just begun.
Answers to be revealed, no earlier than 4-June-2011..

4 comments:

  1. quite agree with you.

    and about going back to trade on demo, not bad an idea. now that we've got "real" experience, going back to demo will have different feeling.

    also, give us more space to think of the process instead of the $ sign.

    focus on fixing ourselves also, not only our trading methods ;)

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  2. ayumi n ripple.. newbies always must go back to demo once u find ur account declining.. while most would complain not making enough money, do we hear from those who have lost a whole lot?!!

    even expert traders when trying new set ups in new products or mkt conditions would monitor and watch before risking their hard earn margin..

    do ur demo right and u will know when to start trading it live.. no hurry in this game of trading.. the profits only lie between u and the mkt.. no one else.. no other place..

    keep it up!! gambateh ayumi sifuuu.. take it one trade at a time.. be mindful always.. :)

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  3. Wow, I thought at least u already live for 5 years :) U're great trader Ayumi. Sometimes u entered the wrong one and missed the right one. I did this countless times. The tips is: Just trade every signal given, don't think it's gonna workout or not. Just get in. U can always re-entry if being stopped out. Trade forex is the most flexible instrument out there, You can partial in or out depending on your intuition. I suggest u take every trade out there with multiple contracts. So if you're not confidence, you can close some of it anytime or move to BE trade. Just enter every signal, believe it will work. If not, then the time will come when it works. Reduce the size if you have to. I think it's better to risk $0.01 per pips than paper trade. Not hurting much if u're wrong, gaining confidence if u're right (plus little money to treat). While paper trade, u may feel upset when u're right, and afraid-to-trade syndrome when u're wrong. Just my opinion :)

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  4. Thanks, Ayumi and Ayumi's Sifu :)

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