Watching Tick by Tick is not so good idea, may be sure way of loosing money.
4/16:
I was able to predict it will be range day. DOW low, tech high and SP middle at opening. Turned out to be true.
Since I am working, I am not in front of comp screen. Following up on mobile.
I initiated only 3 position, looking at 5 min bar avoiding tight stops.
one short position for appropriate loss.
2nd leg swing for ABT worked well ($ 800).
Initiated 3rd trade around 2:30 pm, took small loss.
There was no Urge to trade more, but also realizing consistent traders don't trade on urges.
Expectations that I need to make $2000 per week, $4000/month which will achieve my goal of $100,000/year helping me today. Action, action all the time will take you other way. You need 2-3 good trades a week, so be selective.
Trading habits:
1.#: Impulsive Trading: No
2. # Practicing systemic money management: Yes.
3. # Pulling trigger or following my plan: Yes
4. # Blowing off your after hour homework or preparation: No
5. #Overstaying my welcome in a trade: No.
6. # Listening to other people's opinion: No
7. # Staying out of market when I am confused: Yes
8. # Allowing too many distractions: No. In fact, I paid attention to market only that is needed.
9# Surfing the internet and reading emails at as diversion: No
10.# Overtrading/Revenge Trading: No.
I have been best driver today. Selected only one or two well defined roads and drove it well, no panicking. Paid attention to signals as needed and not looking at everything as signals (not watching every tick)!.
Useful Belief:
Ability to sit back and do nothing is equal to making money.
Watching Tick by Tick is may be sure way of loosing money.