To expect useful advice on this forum is naive at best.. Especially from the 100% free money, no risk morons. Or, the idiots who post, "The market will not pass #### for the rest of eternity" . These people make names for themselves through the quantity of their post, and not the profitability of their trading. Occasionally a book or two maybe of use, or a weblink, but that's it. Trading is an individual endeavor and you must find your own way. It's just that simple.
Well, thanks for the replies-I considered all your points, and most weren't too cutting. And no, I'm not a troll, but a normal and decent person. I don't mind opening up a little for criticism and learning. We're not all perfect, and I can see my failings. Am looking to improve those. BTW, the chair? Just a throwaway line yes, but I'd been sitting at that stage for more than 12 hours, and my back isn't very good for starters. I've already bought one. Now for the LCDs, RAM, etc. Good luck to you all.
How about following Spyder's Futures Journal? http://www.elitetrader.com/vb/showthread.php?threadid=83604 Good luck
It was a typo, obviously he meant "Bad Hair". Who can trade well when having a bad hair day? "It's more important to look good than to feel good." ET - Where chit-chat ain't the only place that threads regularly require the willing suspension of disbelief. H
I can sympathize with the bad chair part. I know from experience that when you have a bad chair to sit in all day long, your nutsack can get irritated, and you can develop a painful back and neck condition. One must always keep their nutsack in good operating condition!! How can anyone make money with a sore nutsack. It is distracting to say the least. I certainly hope this is useful to the op.
You focus way too much on your entries, you should be focusing on your exits. The fact you left them out of your chart says enough. Exits are much more important. Also don't forget a lot of your trades are going to be losers. I have only about 40% winners, and even most of those are just a litlle better than break-even. Most of my profits are made in only 10% of the trades. I don't know beforehand in which category my trade is going to fall when I enter the trade.
Also if you are having troubles with not being concentrated try trading more markets, like this there is always something going on somewhere. It also helps with spending time waiting for good setups. I myself trade four markets. GBP/USD is my main vehicle where I trade very actively on 2 min and 5min charts but I also watch Bunds and ESTX50 where only a few trades a week. In the afternoon I also try to trade ER2 a bit more frequently. At 18:00 CET I stop entering new trades to close everything at 18:30 CET.
steve46 and hcour-laugh away, it's good for you, I don't begrudge you at all. callmate-good, cheers, I'll read it. cvds16-thanks, you are spot on with your comments-well almost, anyway. I appreciate your effort responding. I've been working on those things you mention-time frames, and maximising returns by following the trend. It'll take time, however. I wish I had at least 6 LCD's, want to watch several markets closely. I do have a strong emphasis on entries, and I see that as a plus-I've spent years on a difficult market, and am now finding some of these larger markets easier to read on the entries. I do seek to be profitable 85%+ (once, over a 2 week period I got 45/46 trades profitable), and also to have bigger winners and small losers. I'm watching FTSE/Dax/Bund earlier in the day, ED all day long, then in evening ER as well-and am starting study on oil and gold.
I can't comment on a "decent" portion due to lack of information, but "normal" you are not. Your abnormality may actually be used to your advantage, but first you've got to acknowledge this obvious fact.
also don't forget sometimes it's just not your day, like today for me 9 trades and only one winner at this moment, but that happens and things should work out in the end. I might make it back this afternoon, or tomorrow ... I should be allright by the end of this week. Reading 'trading in the zone' helps with this. Focus on following your rules, not only on making money. If you have followed your rules you can pat yourself on the back. Thinking like this helps in staying focused for the next trade.