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I scaled a bit early on the 1st contract, as it slowed down and it was the 38% retracement and the movements were so small for this morning that I felt it best to lock in some points.
I must wait and trade appropriately.
I did only take one trade! It was nice!
The following 4 users say Thank You to bluemele for this post:
Go back a page or so and I explain the entries. It is highly descretionary with entry/exits. The key is the 5 tick stop and the guidelines are to focus on sticking to the rules with human guidance.
Well, got chopped up a bit for my 3 trades, but I couldn't pass up the 4th. However, I didn't get filled but 1 contract which kind of hurt the trade a bit but it wasn't a big move anyways.
There was a nice short which I called but it would have been my 5th or 6th trade. I am thinking maybe instead of 3 trades that I have an and/or no greater than x loss and I can decide to trade more etc... But, the 3 trades is intended to keep me from over-trading, but ... It hasn't seemed to help me. If only I had my wife's patience!
Video (YOUTUBE Has problem???)
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This is now over 6 months of journaling every single day minus a couple, but at least I am consistent on the journal. I do believe that in my current state of working and being in Hawaii that the likelyhood of me going live and profiting is not very likely.
Everyone has a different path, some different then others and some VERY different then others. I continue to make 3 trades and not getting my 3 points a day. Until I get at least 2 points per day for 2 months, I will not go live. This could take me years, it could be never, it could be in 2 months.
The following 2 users say Thank You to bluemele for this post:
Hey, you can't think this way. Not if you want to succeed. If you are finding success is not coming, then redefine success so that you can be successful with something less than 'net profit'. Ask yourself what your strengths and weaknesses are after reviewing your six months of journal entries. Formulate a plan to play to strengths and minimize weaknesses. Actively work it, use feedback like post it notes or alarms, be accountable - set up rewards as well as penalties for failing to accomplish tasks --- like if you are over trading maybe no TV for you If you followed your plan well then reward is whatever you enjoy, etc.
It's the small things that will get you there.
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.
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The following 2 users say Thank You to Big Mike for this post:
If you followed your plan well then reward is whatever you enjoy, etc.
