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Warrie's trading !
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Warrie's trading !

  #1 (permalink)
Trading Apprentice
Brussels, Belgium
 
Futures Experience: Beginner
Platform: binck
Favorite Futures: stocks
 
Warrie's Avatar
 
Posts: 8 since Apr 2012
Thanks: 0 given, 1 received

Warrie's trading !

Dear people of this forum

I'm trading for 2.5 years now. I should be paper trading because i suck at it but well, we all know... So not a good start, but luckily i'm still profitable.
I like trading in channels and try to take breakouts on daily charts.

Today i took this trade: bought north american palladium at 2.75. I wanted to buy it yesterday at 2.55 but it didn't go down, today it also went up, as it looked very strong I just bought it. But it was a very bad price because i chased it. Luckily it closed break even for the day.

I'm trying to catch a breakout, I have no sell target, I'll let it run until it stops running. Also i'm bullish pm's and this is a cyclical stock, i hope i caught a turning point.
stoploss is 2.58

unfortunatly i cant post the charts as this is my first post

I'm here to learn and to have my stupid mistakes put in my face by you guys. So there's fun for everyone, you can teach me or laugh at the pathetic overestimation of my skills.

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  #2 (permalink)
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  #3 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received


Do you have a plan? If so, what is it?

Mike

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.
6)
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.

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  #4 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
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Posts: 2,302 since Feb 2010
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Warrie View Post
Dear people of this forum

I'm trading for 2.5 years now. I should be paper trading because i suck at it but well, we all know... So not a good start, but luckily i'm still profitable.
I like trading in channels and try to take breakouts on daily charts.

Today i took this trade: bought north american palladium at 2.75. I wanted to buy it yesterday at 2.55 but it didn't go down, today it also went up, as it looked very strong I just bought it. But it was a very bad price because i chased it. Luckily it closed break even for the day.

I'm trying to catch a breakout, I have no sell target, I'll let it run until it stops running. Also i'm bullish pm's and this is a cyclical stock, i hope i caught a turning point.
stoploss is 2.58

unfortunatly i cant post the charts as this is my first post

I'm here to learn and to have my stupid mistakes put in my face by you guys. So there's fun for everyone, you can teach me or laugh at the pathetic overestimation of my skills.

Let go of the mouse and step away from the computer slowly ...

I pride myself on NOT telling other traders what to do ... but I hate to see folks piss away their hard earned money.

Please tell me you have a better trading plan than... I think it's going to go up...

If not ... don't trade real money until you get one...

Disclaimer: This post does not represent the view point of the owners, managers, or moderators of this web site and is not intended as a slam against any moderator, board member, any banned former members whose name we dare not say, any other living person, any recently living person or any person or persons whose status we are not sure of and especially not for any platform vendor with a questionable product and a pit bull lawyer. This post is meant purely for entertainment and should not be confused with a real thought.

I am not a programmer, coach, trainer or self appointed guru and do NOT hold myself up to be a good example for anything. I do not have a book, trading room or seminar. Even though I have an opinion on every subject under the sun, I do not give financial advice. Nor should I be held responsible for feeble attempts at humor at your expense.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #5 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received


Warrie View Post
unfortunatly i cant post the charts as this is my first post

Yes you can. Attach them to the post, don't embed them from external sites.

Mike

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.
6)
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.

Reply With Quote
 
  #6 (permalink)
Trading Apprentice
Brussels, Belgium
 
Futures Experience: Beginner
Platform: binck
Favorite Futures: stocks
 
Warrie's Avatar
 
Posts: 8 since Apr 2012
Thanks: 0 given, 1 received


Big Mike View Post
Do you have a plan? If so, what is it?

Mike

i'm going to win and then buy a ferrari

I use trendlines and fibs as support and resistance, the space between them i see as a vacuum. So i take a trade at a line and hope it will go to the next one. As i stop the when it goes trough the line, giving me a tight stoploss, i'll sell at a profit at the next line. This gives me, I think, a positive expectancy over the long run as my gains should be bigger than my losers.

As a daytrader this might sound ridiculous but on daily charts a lot of lines realy are strong support that only gets touched briefly. I take the trade after testing the line.

Also a friend of mine does a lot of analasys. I buy things that got an upward bias because of price/earnings, bookvalue, or just technicals.
Do you think it's any good?


Last edited by Warrie; April 26th, 2012 at 10:40 AM.
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  #7 (permalink)
Trading Apprentice
Brussels, Belgium
 
Futures Experience: Beginner
Platform: binck
Favorite Futures: stocks
 
Warrie's Avatar
 
Posts: 8 since Apr 2012
Thanks: 0 given, 1 received


ThatManFromTexas View Post
Let go of the mouse and step away from the computer slowly ...

I pride myself on NOT telling other traders what to do ... but I hate to see folks piss away their hard earned money.

Please tell me you have a better trading plan than... I think it's going to go up...

If not ... don't trade real money until you get one...

I've been thinking about papertrading, mainly after losing, but it's not the same, there is no rush. I think it's better when you learn to handle this rush, i think it's a big part of trading.

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  #8 (permalink)
Trading Apprentice
Brussels, Belgium
 
Futures Experience: Beginner
Platform: binck
Favorite Futures: stocks
 
Warrie's Avatar
 
Posts: 8 since Apr 2012
Thanks: 0 given, 1 received


Big Mike View Post
Yes you can. Attach them to the post, don't embed them from external sites.

Mike

thx mike, here they are !


They're quite busy but I like the lines, normally I use less support and resistance.

Attached Thumbnails
Warrie's trading !-north-american-palladium-ltd-us-2012-04-26-002958.png   Warrie's trading !-north-american-palladium-ltd-us-2012-04-26-003011.png  
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The following user says Thank You to Warrie for this post:
 
  #9 (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: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received


Warrie View Post
Do you think it's any good?

Frankly, no.

It seems you have no plan other than "hope it goes up".

A plan would at least consist of:
a) why did you buy where you did?
b) what is your exact exit price?
c) what is your exact stop price?
e) what would cause you to exit the position early, ahead of the target or stop price?

Also how much did you buy? How much are you risking? 1% of your account? 2%?

Mike

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.
6)
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.

Reply With Quote
 
  #10 (permalink)
Trading Apprentice
Brussels, Belgium
 
Futures Experience: Beginner
Platform: binck
Favorite Futures: stocks
 
Warrie's Avatar
 
Posts: 8 since Apr 2012
Thanks: 0 given, 1 received



Big Mike View Post
Frankly, no.

It seems you have no plan other than "hope it goes up".

A plan would at least consist of:
a) why did you buy where you did?
b) what is your exact exit price?
c) what is your exact stop price?
e) what would cause you to exit the position early, ahead of the target or stop price?

Also how much did you buy? How much are you risking? 1% of your account? 2%?

Mike

haha, I like your honisty

a: it broke out of a long downward channel, see charts
b: trailing stop, no target, i want to let it run, i think you do not always need an exact exit, in a channel, yes, but not for breakouts. Cut losers, let winners run
c: stoploss is 2.58
d: stoploss is close enough to not have another reason that way. If it's going up, i'll look for resistance lines, if it rejects them, i'll sell. I'll also sell before i have a loss, considering transaction costs

i bought 26% of my account, stoploss is at 6% loss, so, 1.5% of capital at risk.

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