Intuition and Subconscious
Intuition and the sort - hmmm. This is a tricky subject because intuition is what yo u get from practice. It's what happens after you've seen so much that things are a bit more natural and though you may be wrong still, more often than not, you're "predictions" are what plays out. You start to see levels better, understand where the tape is holding and what orders will affect the price movements in which ways. So intuition is more of having a good knowledge base that has been put into practice over a long period of time and has become second nature. Ok so that's what I think, but then there's this other thing that I don't even know what you would call it. It happened today and it has happened in the past where I "mess up." I'm talking I think it is time to sell and instead I sell so much that it is TOO much and I am in a short position. What I've found is that these "mess ups" are most often the right thing to do. I usually just exit the position because I didn't mean to be in the position in the first place. There was this time where I was trading with a quantity size of 100 I think and wanted to change it to 20 and exit in chunks of my position and instead of deleting the 100 the 20 was added to the end of the 100 - making 10,020 share lol. This happened to be almost exactly the total amount of my account with leverage so 4x my account! Needless to say expletives escaped my mouth when I exited and flipped the position on max! I ended up getting out immediately for a very small gain. Turns out the stock moved in my position for about an hour after that LOL. But what is that? Is that intuition too? Is it some subconscious phenomenon telling me what I should be doing? A similar thing happened today (mind you this doesn't happen very often, I do have my position sizing pretty locked down, but it does happen) where I meant to get into a position with smaller size to start and it turns I was on a different tab (chart tab - same stock, different tab) where the position size was much much larger. The price moved against me initially but I had wanted to be in the trade anyway so I held on even though it really went in my direction after I got out mostly. I think it was in one of the Market Wizards books where one of the traders talked about there subconscious trying to tell them something and I think today my subconscious was telling me more of what I was thinking about yesterday - that I need to size up a bit more on many of my trades. I have gotten in the mindset that after a long period of winners I will take and even bigger loss. But the bigger loss was from a lack of disciplined risk management. I have been on a fairly long winning streak and I think I am kind of psyching myself out thinking that some big loss will hit, but it won't if I keep cutting my losses. So my subconscious is coming through pretty strong, today especially, making me physically size big into a trade. Honestly my initial plan to start small would have likely banked me much more, but I think that I should at least heed my subconscious a bit and size in a bit more than I have the past few days. Listen to yourself. This is exactly what this journal is for - talking through what's going on. I hope you enjoy. Have you had any "mess ups" that went your way or.... Cheers!
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