Thank you for the videos. They are helpful. Are all the NFT videos on youtube removed? I remember that Horst posted a video each day starting January along with other ppl but I cannot find the latest videos anymore.
The following user says Thank You to sunnyrain for this post:
Wow, well, not the best reading of the market direction. It seems the market is 'breaking' much later in the morning and it is leaving me with very little profit. There was enough early on to establish enough profit, but I was trading the opposite direction.
I thought either long to the 76 retracement then short, OR short due to EMD also looking short, but it found some strength so I figured long.
I was reading the weakness well today, but I didn't read the main short properly as it missed two targets by a couple ticks. Next time!
The following 6 users say Thank You to bluemele for this post:
Ok, wow, what a day! Moved my family 2K+ miles over the ocean, on about 4 hours sleep and exhausted! Excuses excuses!
Honestly, the market was saying up, I ignored it due to how I interpreted the indicators and instead of doing smart counter-trend trading, I just gift, gift, gift just like the old days!
Days like today are just dangerous in my opinion unless you pick the right side. The fact that I got knocked out two times ON THE TICK also was just an example of how much one tick can make. Of course, I don't notice the trades where I stay in by the tick. haha...
Internet is really slow here (DSL) so I need to upgrade soon.
The following 2 users say Thank You to bluemele for this post:
bluemele, best advice I have for you is to simplify. Only take three trades a day for the next week. Three trades, periods, no more no matter what. If you take four trades, then you have no self control and cannot succeed as a trader.
Limiting it to three (or two even) trades a day will force you to pay close attention to what you are doing. What you want to focus on here is whether or not, at the end of those trades, you have executed on your rules properly. If not, then there is absolutely no reason to trade more than 2-3 times a day until you can correct that behavior. Then you can go on from there.
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.
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The following 3 users say Thank You to Big Mike for this post:
Wow, what an interesting 2 days. I am back to my old very bad habits of in-in-in no matter what the indicators say or even an area. (These last 2 days are atypical!)
The days have been very bullish and I have short on the brain. I can see the difference since moving from my old home and I think this is a perfect example of when you change ANYTHING that you should not go live until you are back in the zone. I am SIM, but I do trade it like LIVE.
Per Mike's instructions I did consider limiting my trades and it would have been brilliant, but I got off to a 'loopy' start. I think the interesting thing is how I ignored the mid-long term indi's and just kept going in. I even told myself those don't look good but still....
I think that LONG may be the only trades available in the morning!
Something needs worked out and it is strictly emotional I believe at this point.
I think I needed today to re-affirm what I am doing etc...
Full Day Vid
Last edited by bluemele; February 2nd, 2011 at 12:50 PM.
The following 3 users say Thank You to bluemele for this post: