Chipps Article Archives - Psychology and Money Management | futures trading

Go Back

> Futures Trading, News, Charts and Platforms > Psychology and Money Management

Chipps Article Archives
Started:February 12th, 2015 (08:35 PM) by chipps1983 Views / Replies:270 / 3
Last Reply:February 13th, 2015 (12:25 AM) Attachments:0

Welcome to

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Closed Thread
Thread Tools Search this Thread

Chipps Article Archives

Old February 12th, 2015, 08:35 PM   #1 (permalink)
Market Wizard
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures
Favorite Futures: NQ,CL
chipps1983's Avatar
Posts: 1,179 since Jan 2015
Thanks: 2,510 given, 1,202 received
Forum Reputation: Legendary

Chipps Article Archives

I will be reading and posting articles for the purpose of revisit. (formerly BMT) is a good place for me to save all the readings and sharing with other fellow traders.

The First Aim Is "Survival"

Old February 12th, 2015, 08:35 PM   #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.


Old February 12th, 2015, 08:38 PM   #3 (permalink)
Market Wizard
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures
Favorite Futures: NQ,CL
chipps1983's Avatar
Posts: 1,179 since Jan 2015
Thanks: 2,510 given, 1,202 received
Forum Reputation: Legendary

Trading Mantras to be successful trader

• Seeing an opportunity and acting upon it are two different things.

• Price has memory. Odds are what price did the last time it hit a certain level will be repeated . . . (BR: Until support or resistance fails).

• Pay attention to price action, regardless of what the charts are saying.

• Look for a reversal at the same place you’re expecting a breakout or breakdown.

• Price action sets up against the majority; the best profits are often in the opposite direction of the way you’re planning to go.

• Add to your winners and cut your losers. ’nuff said.

• Opportunities come along all of the time. Wait for the best ones.

• Don’t overly anticipate or see things that aren’t there. Wait for your signals.

• The day isn’t over until the closing bell ring. The way it ends may be vastly different from how it begins.

• Your first job isn’t to make money. It’s to protect capital.

• Don’t rush to buy the lowest price or sell the highest price; It could get much lower or much higher before turning around.

• Most profits come during a few days each month. Play a waiting game the rest of the time.

• Traders lose the most money on the same days the market offers the greatest profits.

• Place yourself ahead of, behind or opposite other traders. The one place you don’t want to be is in the middle of the crowd.

• Read the charts with one eye on where the whales will act. These are the pivot points where the broad market will rally or sell off.

• Traders tend to be early rather than late into positions. Their fear of missing the move overwhelms their fear of being wrong.

• You lose money when you trade what you believe instead of what you see.

• Trade triggers, not patterns. The trigger is a perfect alignment of price and time.

• A nervous stomach gets in the way of short sales. Short-sellers see bull markets in every bounce and give up good trades to avoid getting trampled.

• Tiny pieces of the market puzzle reveal the big picture. Keep a diary of isolated observations because they pay off in time.

• Throw money at the market after an extended break. The action gets you in synch faster than sitting around and trying to figure out what you missed.

• The crowd gets excited about the long side when it’s time to sell short, and excited about the short side when it’s time to go long.

• Price moves along the path of least resistance.

• It’s a lot harder to follow your rules when things get really crazy.

• Whales portray themselves as smart money, but they are as confused as everyone else.

The First Aim Is "Survival"

Old February 13th, 2015, 12:25 AM   #4 (permalink)
Site Administrator
Manta, Ecuador
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
Big Mike's Avatar
Posts: 45,432 since Jun 2009
Thanks: 28,836 given, 79,553 received

Please do not post this crap here.

Sent from my phone

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.


Closed Thread > Futures Trading, News, Charts and Platforms > Psychology and Money Management > Chipps Article Archives

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

An Afternoon with FIO trader bobwest

Elite only

NinjaTrader 8: Programming Profitable Trading Edges w/Scott Hodson

Elite only

Anthony Drager: Executing on Intermarket Correlations & Order Flow, Part 2

Elite only

Adam Grimes: Five critically important keys to professional trading

Elite only

Machine Learning Concepts w/FIO member NJAMC

Elite only

MarketDelta Cloud Platform: Announcing new mobile features

Dec 1

NinjaTrader 8: Features and Enhancements

Dec 6

Similar Threads
Thread Thread Starter Forum Replies Last Post
How-to create a wiki article Big Mike Help, Tutorials, and How-Tos 3 December 23rd, 2015 11:05 AM
Chipps Journal chipps1983 Elite Trading Journals 130 May 21st, 2015 10:11 PM
PFG news article TrendTraderBH News and Current Events 2 July 25th, 2012 11:29 PM
Accessing webinar archives not working gcaldridge Traders Hideout 3 February 7th, 2012 08:20 PM
intresting article about the Bernank kbit News and Current Events 0 April 29th, 2011 07:39 PM

All times are GMT -4. The time now is 04:29 PM.

Copyright © 2016 by All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts

Page generated 2016-10-21 in 0.11 seconds with 19 queries on phoenix via your IP