I have a plan.
I follow it.
Trading is boring.
Perhaps Zen is boring.
Perhaps boring is good.
MUTs are exciting.
Perhaps exciting is bad.
Let me first state that anything I say has worked, or not worked, for my trading, and my trading only.
It may have absolutely nothing to do with your trading and any implementation of my thoughts toward your trading may make it worse.
I have learned that I will not get all the moves in the market place. I have always theoretically known this but have not been able to implement it. In other words I kept chasing the "missed" trades.
Curve fitting a system to take yesterdays missed trades is idiotic.
Have I mentioned humans are stupid?
Dr. Brett Steenbarger states one of the keys to trading success is recognizing when market conditions change and then adapting your trading technique to the new conditions.
I can't do that, I wind up chasing last weeks market conditions in this weeks market.
What I have to do is use a plan that has minimum and maximum conditions in it. Before my plan always had minimum conditions to be met in order to trigger trades, it now (last 5 months or so) has maximum conditions as well. I could call my system the Goldilocks trade. I only want the porridge luke warm.
So there are more days now when I just sit here.
I sit here and do nothing.
The results have been nice, higher win rate, higher RR, less trades, less comm, and a sense that I have a niche in the market, a niche that works, I just have to sit here and wait for it.
“I've wondered why it took us so long to catch on. We saw it, and yet we didn't see it. Or rather we were trained not to see it. Conned perhaps into thinking that the real action was metropolitan and all this was just boring hinterland. It was a puzzling thing. The truth knocks on the door and you say, "Go away. I'm looking for the truth." And so it goes away. Puzzling.”
Robert M. Pirsig
Remember this the next time you are thinking about taking a MUT.
I'M WATCHING YOU. (go full screen)