Woohooo! 6 ticks! Wow, this breakeven stage is taking a lot longer than I would like.
I had rough week last week. Market has been on a tear and for some reason I always try and say, what goes up must come down. I have always been a countertrend trader etc..
I also noticed that I stopped trading today before it hit my target. It was strictly out of fear and losing 'money'. I would still be in this trade had I not been scared. Or, I would have exited at 766.5
My RE work is heating up, so my trading is going to have to take a little bit of a backseat for now.
1. -7 ticks, boy what a POP! I figured down and I thought I got the pivot, but unfortunately I didn't see the huge pop coming.
2. -5 ticks, I clicked enter at the top of this pivot, but it just entered me way below and then knocked me out within a half second.
3. I got right back on the horse quickly (within a half second) and hit the pivot perfectly. I scaled at a decent point, but probably a point too early. It did end up going to my H&S target! I do believe it to be a short morning.
Decent trading technically, but fear in my head about a not so great week last week.
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Ok, I am not doing what I learned to do. I am to wait for an area in addition to MACD's looking good. I saw a short coming, but there was only 1 area to enter, but maybe 2.
The important one was the 76% retracement area which it finally pulled back from. The other one would have been a double top. The rest of the trades were rediculous and me wanting to 'not miss it'. It is great to be able to see the market direction, but it sucks when you are way out ahead of the proper time.
I have yet to be patient for it to hit my area. Patience is my next key element to train my brain.
1. -3 ticks, This looked decent and could have been a nice drop. However, 1597 was saying not yet.
2. -5 ticks, I had a 3 tick stop, but it blew by it. Irregardless it was a shite trade and one that made no sense to take.
3. -5 ticks, Well, this was just bad luck as it hit me on the tick. I almost took profit for 2 of my contracts later on when it dropped 1.5 points, so this would have been nice.
4. -5 ticks, this is called desperation. Worst kind of trade you can make.
5. +0 ticks, this wasn't bad entry, but it was not the area. I was going to take profit at 1.5 ticks profit, but delayed too much.
6. -5 ticks, I KNEW THIS WASN'T IT! I told myself to exit, but I couldn't do it.
7. +17 ticks, This was a pretty good trade and the one I was too impatient to wait for. I didn't wait for it to hit my target as I was considering the long at the end, but the MACD's weren't clear so I am closing out my day.
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OK, today was interesting. I would not trade this cash, but thought I would play around with it SIM. The two days around contract expiration are always a little 'strange' and hard to read for me, so I just sit it out.
I took a nice short, but exited at support and then the 50% retracement.
I then continued short which was not the right direction.
You are correct! It used to be a different group called "Masters Palace", but they started marketing and pushing their services big time over the last 6 months. (Used to be just word of mouth) I have been with them for about 15 months.
I have come to realize that all the people who have been consistently profitable have all been doing it for 2+ years. I guess I still have some time to go! haha...
P.S., if you get a chance to sign up for the 7 days, check out the section "NFT Videos" as that is what I am supposed to be doing. haha...
I saw the student trade videos on their blog and signed up for a couple of their weekly webinars that I saw listed there. I then joined for the 7 day evaluation. I know I saw the more detailed student videos inside their website with the live Domes and all, but still, I need to ask you. Are they for real. Do you know Horst, Danielle,and Roger? Can they really do that on a consistent level? Horst claims in his testimonial that he made 42k on video trading only 10 days last month. Danielle is a stay at home mom making 500 a day with only 2 contracts? Is this for real? I am talking with Henry and considering joining. Do you really think it takes 2 years? They are claming 1 year. I can devote 1 year but not 2.....Do you see light at the end of your tunnel? Is this really do-able? What to do...What to do?? Thanks for your sincere input bluemele, it's greatly appreciated.
Firstly, if you can't devote "2 years" then I suggest not doing it and not trading at all. In my opinion, I have yet to meet a trader master something consistent in less than that time frame.
I have met the whole group, except "Horst" whom I chat with over skype as often as I can. Horst has been doing this for 3-4 years and do I believe that he only wins and makes tons of money. NO. I know he loses, but he obviously isn't going to show that in the video's of 'how to' as no 'coach' wants to show you how to lose. However, for me it builds confidence to see some of them lose as nobody can win daily without ever losing. If they did they would be the richest person alive.
Horst has Cajones big time and he just started using Ninja and trading DAX and some of the other instruments (CL) etc. and wow... He is a much better trader and from not knowing him and looking at his trades, for certain he is doing exactly what you are seeing which is 3-4 points daily on most instruments and sometimes several in one 24 hour period.
Do I believe that this system is the HOLY GRAIL. Nope. Just another system to do and Master.
I have met Roger, Judy, Danielle, Julia, Manny, Henry, Lian, Jennifer, Doc, Jeremy and many others whom seem to be successful. Roger and Judy are truly sweet people and have been trading for quite a while (at least Judy has been).
In my opinion, I don't think they ultimately hit huge success until after year 2. Henry changed the technique some from what I have gathered (He has been doing it for 4 years +) and he used to go for small amounts of ticks. However, now he is really going for nicer, more obvious and more consistent moves.
I sat in his 'bootcamp' for a 2nd time and for 2 weeks and watched him never pick the wrong direction except once and that was when he was looking over his shoulder (big screen on wall) and on the last day on the last hour.
I continue to have my doubts as everybody loses occasionally but you never hear about it. I know Danielle reasonably well and she is a sweetheart. They are all good people. Danielle is probably the most impressive to me as she has a similar personality as my own, so I can 'relate'. I don't think people like us are engineered to be great traders from birth. haha...
I also sat in the bootcamp and got to watch them trade (SIM) and I was very impressed. At the time, Judy and Roger were pulling so many points out of the market that I was a bit too eager and ignored what Henry advised.
10K is a bit of cash, and if you can't devote 2 years, then I suggest you quit right now and not move any further. I know some people in the program who were profitable after a few weeks/months and then went into lala land. (ME!).
After my first 2 months, I was profitable about 6 ticks to 1 point consistently. Then, the market dynamics changed and I had no idea what I was doing. I learned that a bull bull bull market was something you don't get in the way of, haha..
Overall, I am down slightly, but nothing like I lost in FOREX on my own etc..
Or signal following, letting others trade my cash etc..
In my opinion, the best part of this system is the 5 tick boundary. If you can hit the entry like Henry, Horst, Roger, Danielle, Judy etc. then you are golden.
I will stick with this system no matter how long it takes me because I just saw Horst pull out 15K in one morning like it was nothing!
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Still deciding to trade for peanuts and make poor decisions.
I figured it was going back up some, so I went in at the 50% twice, 61% and the 76%. It actually never hit the 76, so I went in after a deep retrace on the pull back and figured it would go to the 50%, so I would at least get a point out of it. The 4181 looks a bit strange and says we could go for a long run, but it is all chopped up I think due to Holidays.
Market seems headed up more, but I imagine there will be a lot of resistance at 780.00