08/08/2014 Live Update

[Cobra]

I lost my cool day on the morning bad trade:

I had unbelievably big swing day. Heart attack almost.

I bought the morning breakout. It's a failure. so lost huge because the stop loss is uncomfortably large.

I went to short after my stop loss triggered because it's a good breakdown too (I used double stop loss). But it went badly, luckily I was trained enough to have the instinct that this should be a bad trade, so I cut with 2 points losses.

Now I totally lost my cool.

Then it broke the same resistance line again. Glad I made a right decision to cut my short earlier. I bought on breakout again. It went great, the chart looked good, so I decided to hold. Well, bad decision. Later it failed, I ended up nothing.

Now I wanted to kill myself.

Then I bought H2, it's not a calm trade, just a bet to make today not too ugly. The H2 didn't go smoothly at the beginning, so I decided out. Well, bad decision AGAIN. It shot up right after I was out.

Then it broke the day high which seemed a good breakout setup. I had to chase. Wow, I was lucky this time. I decided to hold until at least after H1. I sold now, ended up with small gain today. I knew it could go more up, I just had enough for today.

Couldn't believe I was deep in the red this morning, lost all my cool, then made all back. Thought it'd be a very bad day. I was too easy to lose my cool if the stop loss is larger than usual. Bad habit. I didn't act like a professional today. Hope this would never happen again.

Updated chart.

[MrMiyagi]

That's a crappy thing Cobra.... I blame Israel.

[gappy]

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[tsf]

Cobra, thank you for your courage and honesty in sharing your trading experience. It is actually very helpful for us newbies, and puts you above the rest.

[MrMiyagi]

spyII

[gappy]

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[gappy]

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[tonghu]

go hit 193.9 in the power hour run maybe

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[Cobra]

my today's trading story in chart. You can see my comments do reflect my actual trade. It's not just for fun here...

Updated the chart.

[MrMiyagi]

!!!! POWER HOUR !!!!

[fehro]

Cobra, sorry to hear about your day. Don't beat yourself up over it. Just move on... and focus on your winners!

SPX 5m.. mind the interday gaps.. and 20W MA 1914ish

[Cobra]

!!!! POWER HOUR !!!!

No sleeping cat or dog or bear something?

[Cobra]

!!!! POWER HOUR !!!!

Look at this bear! It's evolution, beware of THE PLANET OF BEAR!!!

[MrMiyagi]

No sleeping cat or dog or bear something?

...arghh... still learning the task...

[Cobra]

it is 3 push up, so this pullback suppose to be 2 legged.

[MrMiyagi]

it is 3 push up, so this pullback suppose to be 2 legged.

So, just to know, is this a situation where you'd consider the short side?

[Cobra]

it is 3 push up, so this pullback suppose to be 2 legged.

So, just to know, is this a situation where you'd consider the short side?

No. Not good enough odds. so I just talk in this case.

[taggard]

my today's trading story in chart. You can see my comments do reflect my actual trade. It's not just for fun here...

outstanding post you are doing everyone a great favor with this.

newbies esp should be paying close attention here. the whole point is trading is not chart reading--that is why they call it trading. the emotional aspect of trading is something that can work for you--or against you. put another way if you think you are acting like a professional and "without emotion" you are really acting out of emotion. what's key is to find ways to use this aspect of yourself in the best possible way. the solution is easy to explain--tricky to do in real time.

it's not the feelings--it's your relationship to the feeling or really of the content of the feeling. due to the intensity "they feel real". you have to have the feeling--and back off on the connection to the content of that feeling (content is what the feeling appears to be about). at that point you have the feeling--yet it doesn't mess you up. at that point the "meaning of the feeling" "changes" and it can be used.

in any case--thank you for your honesty cobra--one post like this can teach people more than dozens of the usual pivot points.

good luck to all on their trading

[MrMiyagi]

No. Not good enough odds. so I just talk in this case.

OK thanks

[Al_Dente]

CNN is showing footage of US airstrikes in northern Iraq (they don't know exactly where yet)