Friday Notes – “Another Day”
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If yesterday’s post (good back and forth comments btw) was about living to fight another day, today was that “other day”.
For if you’re to be successful in this business over the long haul, you have to follow up loss minimization when you’re slightly off your game with income maximization when you’re on it.
And so as noted in the attached morning trade execution chart (click to enlarge), the early rhythm was in full swing as market pace and personal feel combined to pretty much nail the entirety of four consecutive wholesale sequences.
At this end, we were primed on both the long-term asset management and intraday scalp businesses for morning long entries on ANY jobs data reaction back toward recent support given — as the Jellies should know — the need for ticked off “missed the boat” longs and “stuck shorts” to buy any hard move down to provide the needed support.
Frankly, given the perfect combination of MATD, textbook 30 & 60 minute charts with expected air fill, and the aforementioned less-than-stellar jobs release, if I didn’t nail these, I shouldn’t be in the business … let alone teaching or writing about it.
Some days you simply stay alive.
For doing so allows to you thrive.
Yet one thing is certain … you can’t thrive if you’re dead (reality of the next life notwithstanding … but you get the point).
And so we continue this challenging but wonderful journey called trading.
Periodically pausing, but always moving forward over the long run.
Enjoy the weekend.
wow nice job trading today!
just wanted to ask if you ever get exhausted come Friday and you just feel sick when you put a trade on? Had a good four days but was very exhausted today and buying and managing the position into the close just didn’t fit with my exhaustion as I would have been not prepared to deal with any setbacks this afternoon.
So what do you do if you feel more exhausted than usual? Was trading more draining in the beginning of your career (three years in of ES trading)?
Thanks.
I’m exhausted by 3pm of EVERY day, and usually by noon on Fridays! That’s never changed and likely never will.
Over the years though, I’ve grown to realize the importance of managing my time outside the market to pause and refresh … something I still need to work on since I’m the ultimate Type A.
I rarely trade Friday afternoons and view it as a bit of reward for the week’s efforts.
Don
as the song says …
At The Office Where The Papers Grow She Takes A Break,
Drinks Another Coffee
And She Finds It Hard To Stay Awake,
It’s Just Another Day. Du Du Du Du Du
It’s Just Another Day. Du Du Du Du Du
Lt’s Just Another Day.
As She Posts Another Letter To The Sound Of Five,
People Gather ‘Round Her
And She Finds It Hard To Stay Alive,
It’s Just Another Day. Du Du Du Du Du
It’s Just Another Day. Du Du Du Du Du
It’s Just Another Day
Thanks Don &………… Paul
This site in a class by itself for sure. Thanks for sharing it all. Today’s chart is very useful study. It will be interesting to fill in some details, additionally, such as size of adds/sells as the trade progresses, etc. and mayb TAD will be able to help there a bit. Looking forward to your posts, in the meantime. Take care, and thanks again.
Don,
The right blue arrows are long entries, left blue arrows are exiting long entries to get flat? & likewise for the red, where blue dashes are adds? thanx trying to analyze your chart.
“…. just didn’t fit with my exhaustion as I would have been not prepared to deal with any setbacks this afternoon.”
Never heard anyone verbalize my own thoughts on that subject so well. Took me a long time to realize that my physical state had a direct impact on my mental state and, therefore, quality of decision-making. The more tired I get, the more subjective the decisions become.