If you have a trade that hits the target then stop trading that symbol for the rest of the day. We had a +9 in the ZB then tried to reverse the position and got stopped out. This makes no sense. Stay with the trend and if it hits the target then stand aside.
You should post the screenshots at the original size. The size you are posting is quite small, unless your desktop is only 800x600 or something?
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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. 6) Help using the forum? Watch this video to learn general tips on using the site.
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The following user says Thank You to Big Mike for this post:
No Trading Wednesday 3/21/12 or Thursday 3/22/12 Traveling for work.
I was able to read some more of Markets in Profile. I learn something new every time I go back to it. I think I'm slowly integrating new aspects of it into my trading. There is a lot to assimilate, so if I can keep picking it up little by little I think that will work in the long run.
I'm focusing more and more on trade location. I have to admit I'm a bit of a setup junky. I like clear, precise parameters to enter and exit. The trouble I'm having with the book is taking a more holistic view of the markets. I feel like it starts to get very subjective, perhaps too subjective for me. However, I have found that if a take notes of the big picture then maybe I could hold off on taking setups until they get into an ideal location. I think this is the next step.
I'm working on adjusting my trading journal so I can have an entry for longer term bigger picture conditions upon entry.
Time in Trade: I noticed a few trades that became profitable right away. Conversely, other trades were either profitable then stalled and came back to my entry (ES short 10:01) or never took off from my entry (QM 10:31). Perhaps if the trade does not work rather quickly then it's indicative of poor trade location and should be exited early, before the stop or target it hit.