By Guest Contributor, Michele Hurlbut
Hi everyone, it’s Michele again. So, I thought I could just open my charts and start trading my new software without spending time going through all that training. You know, I thought I could save some time and make money too, right? Well, things don’t always work out the way you plan, so here is my first journal entry:
On Friday afternoon, I downloaded my Hawkeye Professional Package and then closed my charts and computer with the intention of getting back to it later that day. Also, I planned to start setting things up and reviewing the website over the weekend. Guess what? Yep, surprise, that didn’t happen.
And here it is Monday, and I haven’t reviewed the software material. I think to myself, “I’ve been trading for a while, and I’m familiar with many indicators, how hard can it be?” So, I thought I could do this.
So I open my charts and my new software, and start trading. (I bet you’re laughing to yourself right now thinking ‘I’ve been there’ and ‘oh, is she going to be in trouble…’) Fast forward a few hours and I am soooo glad I was in Sim mode today!! Yep, total disaster (note: please don’t try anything new with live money!) I did have a couple moments of ‘true brilliance’ I tell myself as it goes to my target. But reality is that most of the day was utter chaos and “willy-nilly” entries.
Why? Because my Ego got in the way; I can read a chart! I can read price action! Why do I need to look at videos and learn the way this software is supposed to work? (She writes “tongue in cheek”).
Ok, let’s go back to my first article to you. Do you remember the reason I bought the Hawkeye system? Because the volatility of the market had increased to a point where my current system Reward:Risk ratio did not work. So then why do I think I can 1) use my current trading style on different colored charts and expect a better outcome (the definition of insanity 😉); and 2) totally throw money away by purchasing a system that I am not taking full advantage of?
Now that I write this on paper, it seems so silly to let my Ego get in the way of my success. The Ego is a wily creature that creeps up on you when you least expect. It takes control and then we/I usually end up in negative P&L territory.
A strong person will recognize when Ego has taken over (it may be in hindsight, but it is recognized all the same). Once recognized, they turn the situation around to where their rational self is back in control. Now they can drive their own “destiny bus” down the Highway.
So, I thought I could jump right into trading without taking the time to learn the new system, and I was so wrong. Now I am off to watch my lesson videos. I can’t wait to see the wonders there! Have a great week everyone!
Join Randy in the next free LIVE Hawkeye Demonstration Room held every Wednesday at 9.30am EST US. You will learn more about volume and volume price analysis and see more examples and live trade setups. It is open to all.
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