Accountability Idea

I'm sitting here thinking how I can stop making these stupid mistakes. I want to get an alarm clock and set it for 6:35 am which is 5 minutes after the opening bell. In that 5 minutes I can usually tell whether I'll trade the stocks I'm watching or not. I've been pretty good with closing my charts after that 5 minute period but I think what happened today was me getting impatient. It's been 4 days since I put on a trade and I probably felt like I had to be trade something.

 

So, I want to get an alarm clock and have it across the room or something so when it goes off, I have to get up and walk away to turn it off. That might help with me walking away from my potential losers.

 

 

EDIT: I went looking online for a really good alarm clock and I found one. Click the picture to go to the site if you need an alarm as well. I have it go full screen after 6 minutes of the market being opened. It then shows a message I made saying: Stop Trading! Do something else!

 

We'll see how that helps with my discipline

 

Some Thoughts

I need to report to someone/something to help with my discipline. I don't have anyone who can manage me so I'll have to report to this blog more. I'll come here and post the night before when I'm not going to trade the following day, after I've done my research. That way I won't leave it up to the next morning to decide what will happen because I will have made a blog post stating I wasn't going to trade.

 

I'll need to do it immediately after I finish going over my routine.

 

Also, I'm going to have to rewrite my trading plan because the one that's listed here is a plan that I haven't followed for about 2 weeks now. I've been developing a new strategy which I might post here, I don't know yet. I might keep it offline. So far all those people who like reading my business plan, you can use it if you want but just know that I haven't been following it recently.

 

• Report to my blog ASAP about whether I will trade or not for the following day
• Re-write business plan
• Don't force myself to trade losers. Trust my original judgement and never second guess.