Finished reading Reminisces. Fantastic book. If you haven't read it I highly recommend it. I read Coopers Hit+Run 2 today, not bad, not great. Some interesting ideas. I like his method of trailing stops in .75 increments. I think I might use this unless I can come up with some good reasons not to. I'm trying to decide what book I will get next from tradersbrain.com. Any recommendations?
Well I truly am an idiot. I just finished reading these books where all the succesful traders say to never trade off other peoples ideas, just your own. I read the weekly outlook thread and lost confidence in my positions and closed them for small profits. I'd be up 100+ pips on both of them right now if I had just had confidence in myself. It is amazing how we know we aren't supposed to do certain things but we get scared and do them anyways. Well, not any more. I won't get back in now because it would be chasing the entry so I have to get back to it tonight and find other positions to take. Oh well, another lesson learned, and I even made some money on these trades. I am really starting to like Forex. It is easy to trade IMO. I think if I get my account up to $200(4x initial) I will send in a little more money. I'm at about $145 right now. Who knows, I may end up just sticking with this.
That is hysterical! Hope mammoth is treating you well...it's hot and dry up here in the pac nw. FWIW, I agree re Forex, good switch.
Yeah I should have called myself LotteryLord or something. Oh well. I'm considering a long in USD/CHF.
Beats nannylord or housecleaninglord, imho. How many people are in mammoth fulltime? Seems pretty extended, but I wouldn't be too surprised to see more lift after some pullback. All depends on where your stops are and your timeframe.
Yeah I wouldn't enter now, but am looking for a good chance. I believe the official Mammoth residence is around 2k. Of course there are many more here for a year or so, like myself.
Do you keep a weekly chart too? I don't know all the experts referred to, as I have been trading on my own for many years. Really, after 20 years in the investment business, ON MY OWN. I am a pure chartist. I find that the personal weekly chart -- I do all my own charts on plain graph paper -- keeps me on track. Many decisions I would have made on a daily basis, I didn't. To my advantage. Good luck with your trading.
Zounds, I mainly am looking at weekly and monthly charts now. That is where the big money is as far as I can tell. I've decided to send my 2k to my currency account. Reason: I think I have a knack for currency trading. I look at charts and everything makes sense to me. They seem much simpler to trade and won't take nearly as much time as stocks would. I don't plan on taking large positions still, but I want to have it there to use. I can drop my nextrend service now because forex charts are free and that will save me $60 a month, which will go to the Forex account. I also got a raise today and am not going to take the bagger job. I am going to send a minimum of $500 a month to the currency account to keep it growing. I can easily do this just working 40 hrs a week with my raise. Raises are cool! Well there you have it. I'm not going to take any new currency positions this week. I want a few more days to really get a plan in place. Discipline, discipline, discipline!
Dude.. you keep on jumping from one thing to the next. If you start losing $ in currency.. then you will be back to swing trading ... You are like a little kid that cant make up his mind. So you made $200 in currency market.. does that mean you have found your calling.. lol -- you are funny.
I think it's good that he's trying to find his niche early in the game rather than years from now. -FastTrader