Friday, April 24, 2009

Friday Notes - Disinterested

4:00pm I was as disinterested in trading today as the Bulls appeared to be in last night's JV attempt at playing the very beatable Celtics (what was up with that??).

I'll be frank as always ... I'm simply not motivated much right now -- flu or no flu from which I'm pretty much recovered -- as the P&L treaded water again today and for the week.

I certainly see some sloppiness creeping into my trading, which I believe largely reflects a lack of motivation and interest, and have fallen into a bit of a newbie track of having a few damn good trades offset by losses, and not pushing hard enough on solid setups as I had several good entry points today, only to scratch on the day. I'm also having a tough time staying sharp during those few high % opportunities while the rest of the day is simply non-tradable (from a speculative side anyway) slop. I know I'm not alone on this last one, but that doesn't help as you have to be better than the rest.

I've certainly tried to keep my head in the game by providing breakeven liquidity, which has always helped in prior years, and perhaps I need to simply keep plodding along until the swing is back in the groove.

Nevertheless, I'm going to think long and hard about how to approach May and the rest of the year over the next week, and again wonder if some subconscious governor has kicked in after having banked a couple of million over the last 15 months.

Fortunately, treading water is NOT losing money, and all of the hard earned capital over recent years remains 100% in tact. And for now, I have to simply look at the last few weeks as an unexpected and extended vacation. Time will tell if I decide to make it permanent.

Look for the Weekend Trader as always.


randomguy said...

Remember to think about that low point equity mindset you mentioned in one of the posts. I'm sure it helps to give focus on bringing profits in weeks to come.

Dennis said...

Don, do you find that your losses are more prevalent when you trade during the lunch hour or late afternoon??
Dennis g.

ES_Addict said...

Hi Don. In pursuit of becoming a better ES trader I regularly comb various blogs, Twiits and other online resources for information that will have a positive influence that will help me learn to be a better trader. Only yesterday (4/23) did I stumble across your blog for the first time. My early assessment of the content you share is just what I needed as I travel the journey of being a successful trader. I have bookmarked your blog and look forward to reading your daily observations and comments regarding the ES. Being that today is my B-Day, I consider your blog and the information you provide a surprise gift. Thanks in advance and I look forward to reading your future blogs as well as exploring your blog-site.

Prosperous Trading,

Steve K.
Williamsburg, VA
(transplanted Chicagoan)

Don Miller said...

Syed - Yup ... actually, it's probably been mentioned 100 times and remains my cornerstone philosophy. Just not believing it right now.

Dennis - As many know, I often suck after 3pm ET and usually purposely limit my trading then ... which is why it's one of the measurements on the daily scorecard.

Steve - Welcome to the blog. No smoke, mirrors, or gods here ... just pure reality that continues to be sorely lacking in this world of hype.

I really wish more (make that anyone) would talk about their actual P&L and "real" day by day experience. Unfortuately, most will never dare to.

Right now, I flat out suck from a motivational perspective and need to change that if I'm to continue to stay in the race.


KN said...

Don there is underlying theme that I am picking up from your posts during this month, and it’s all to do with your subconscious.

You have already “told” yourself that April is bad before you started trading and all that is happening is that you are reinforcing that every year April is a bad trading month for you, guess what it is turning out to be exactly as you were expecting it to be.

I do hope this makes sense.


Don Miller said...

KN -

Thanks for the feedback ... appreciate it.

Having said that and with all due respect, it's not the case at all ... although I can easily see how that conclusion can be drawn.

I'll explain more in today's weekend video.



thunderball said...

Don, have you considered segregating your account? By that I mean keep just enough equity in your trading account to maintain margin requirements without altering your trading style or number of contracts.

Removing the equity "cushion" (assuming there is one) could simulate the hit to your account, and provide that extra focus.

Thanks for allowing us to follow your journey!

Don Miller said...

thunderball -

Yea, I actually have two accounts, one with a small sum that I could solely trade.

Yet keep in mind I never look at the balances, so I don't really think the money is there ... although I recognize I'm not really believing it these days.

Hopefully, one solid day will snap me out of this.


Steve0617 said...


Would a call to Dr. Brett help you out? Certainly he's assisted other traders who are in the same situation you are?

I know he doesn't take on individual clients, but I'd be surprised if he wouldn't take some time to speak with you.

Don Miller said...


Don't need a coach. I know what to do ... just a matter of if I want to.


Unknown said...

Thanks for sharing.
Your a recap of the day
is a reality check.

Thank you for being you.


I pray for speedy recovery, mentally,physically and spiritually.
I pray this in the name of Yeshua.