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Is that because I didn't want to give any back? Well, Yes. My arrow down at the end was quite nice and another 10 point run down.
I scaled too early. Once I get my # of trades down to 3 and profitable, I will work on my scaling a bit.
Technically, I could have easily held my first trade for another couple points per my chart.
Trades:
1. +1 tick, Looking weak, but 4181 said UP! and lately, that is not a good argument to go against.
2. +15 ticks, Good looking entry, almost set BE too soon. Went against 4181, but others looked good. Trade management was a bit poor, but I think per my comments of scaling it made sense to me at the time.
Nice trending day again! A definite pattern occurring and interesting that I can see it when the pattern is short, but when it was long that I wasn't seeing it. It seems the levy has broken, but I expect the US GOVT to start pushing it back up again with monopoly dollars.
1 trade today and it was a little aggressive, but it looked good to me.
Ok, a positive spin to my days lately. Seems like the market has been moving nicely. There were some nice longs, but I realize why I am not seeing them. I have been blind to any positivity surrounding the market as with the current business environment being scarce at best and challenging, that I believe it is too far fetched for my mind to get around the positivity of the market. Then I remember Bernanke is spending our tax dollars and printing dollars to buy small cap stocks so I must not hang onto any negativity.
Maybe I should start a vendor business, then cash is always coming in from newbies who want something where the odds are significantly stacked against them. haha... Then I could put a positive spin on every trade/day and say, "You could make 'X' dollars today from these great trades!!!
My trades were mediocre today in my opinion as I was not able to capitalize on the longer 'longs'.
Hi, I'm reluctant to post on journals, but ever since the Horst incident I've been reading your journal with curiosity. I don't want to intrude but I've noticed an interesting tendency that is in relationship towards your indicator and the indicator on your chart. Are any these people assisting you in trading this system?
"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
The system is a group of guidelines and rules that is interpreted differently by everyone trading it. To answer your question, nope, nobody is guiding me any further and it is up to me to decide to let go and pull in some points. Hindsight is 20/20 and after the fact is always so much clearer than before.
I have been trading this same system for 21 months. Longer than anyone else on this forum I would bet (or at least that have a journal) without changing anything or very little. Of course, my trading goes through fits and starts.
I don't want to sound defensive, but what would you suggest?
No worries, there's no need to be defensive at all. I'm sure myself and many others on this site would want to see you successful in your trading career...probably more so than those that sold you the course.
I took a second look at your videos and there were some inconsistencies in my observation regarding to your indicators. So on second thought I don't want my confusion to complicate things.
I do, however, would like to suggest not use replay to day trade unless you have the discipline to not fast forward during the trade. It will make your impatience worst and will cause you to make bad decisions down the line.
"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
Henry says to sim is to sin. Studying the historicals and figuring out how you would have known the price will go down one point and reverse...now that is electrifying.
Hey, that is a great point about market replay. You are right on 100%. I was actually going to comment on that today some. haha... Impatience is my main issue I believe. It shows with my trading today!!!
My issue is that I want to be 'right' and I don't have enough time to spend on the open market...
"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."