November 18 Overlay, Commentary, and Trades

There was not much to do with the price action today. I had a good read and prepped for a minor probing extension after the AM contraction and then back inside the range.

I executed exactly where I wanted to in order to have an edge if the market open up. I thought the short just after the open was going to cut through the support after I entered but it held.

The long was a good micro breakout entry. I basically had to sit on the position. There was no way I was taking 3 or 4 points profit nor could I go break even. The position of the entry was right where deep higher low could have developed.

I was not interested in buying the fourth test of the support zone. Those typically do not hold and there was an obvious contraction in play today.

I have been executing well and believe I am doing the right thing. Trading is streaky and I am coming off a 21 point gain over a fairly small sample. This is a consolidation and I need to continue aggressive execution to push through.

I read several other trading blogs from time to time and just do not see anybody posting trades or talking about their losses. It is always a "minor draw" or "scratch" but never a loss.

I have never met a trader who does not lose. You always hear about about the winning streaks whether it be 1 week, one month, or even one year. What about the losses? What happens over time?

If a trader is legitimate and can actually make a profit for a living why are they reluctant to disclose their losses?

Most people who read this blog and contact me talk about their struggle. I have talked to literally hundreds of futures traders throughout my career.

There is a total disconnect from the complete crap you see out there from so-called educators and what actually happens when you are sitting in your home pushing the button.

All traders struggle immensely at times throughout their career including myself. There is no way around that. That is why there is is such a large payoff for getting this right.

I had a 1.75 point loss today. It is insignificant but still a loss. You can call it whatever you want but the reality is when you see the statement at the end of the day the balance is lower.

This is a common situation. Why can I not find any stories out there that are similar? If others are trading where are the executions?

I guess I just wanted to get some honesty out there and challenge others who do this publicly to do the same.