The main battle I'm fighting at the moment is using my profits from my successful trades to 'experiment' and coming up net 0 or net loss on the day I've come to the conclusion its better to book the small profits every day and paper trade the experiments
mgabriel01: That's how I feel now too. Going for singles and doubles only, no homerun plays. Today: No trading, paper traded gold and the dow. Dow was good going long early on, but gold has been really choppy and not good for me. Still looking for a trendy day to get back into it. Especially low volume today for some reason.
just a note, trend days are harder to trade because 17 out of 20 per month are trade up to tl or down to trendline and then reverse, trend days blow thru tl's and u never know which is which
Did 1 trade today in gold. Took 1.5 or 150 bucks. Better than a loss. Still not confident trading yet, papertraded gold and did not do very well.
Did 4 trades in gold today, not quite as disciplined as i woulda liked, a couple of impulsive trades. But im easing back into trading, and feeling much better about losing money now. Lost 212 today, account is at 2,333.
today's balance: 2,010 Getting back into trading, some horrible contrarian trades. Breaking rules again, but I'm not as scared to hit the trigger anymore. Lost 321 today.
Today's balance: $2,050 / 10,000 Week7: -350 Week6: -4365 Week5: -2136 Week4: -250 Week3: -801 Week2: +942 Week1: -926 7th week: Today was a really good day for me. I had a huge ephiphany: that I can actually feel good about losing money, as long as I stick to my rules. It's when I lose money breaking the rules that puts my head in a spin. I really stuck to disciplined trades today, and started off -180 or something after about 5 trades. Really didn't lose much per trade because I get out with small losses if the trade doesn't feel right, before my stops are hit. I realize now, sticking to my rules is the best I can do when I trade, even if there are losers. After 2 more trades I ended the day +40. Not a huge win by any standards, but I'm really looking forward to next week. Game plan for next week: 1. Stay out of the chop 2. Trade with trends only, papertrade everything else 3. Don't need the bottom and top, just some meat in the middle 4. Undertrade 5. Concentrate on 1 market 6. Realize there is no "overbought/oversold", only the trend 7. No more opinions, the market is always right 8. Finding breakouts hard to trade, so just sitting back on those. PS. I can't go long GCJ8 in IB. I can only go short. They told me it was concerning physical delivery or something, but the contract expires on Apr 28th... ????
Thanks Dblarrow. Didn't see the june, i looked at april and it's volume was like 200, so i was confused. Acct today: $2,093 / 10K Traded gold 5 times today. +42.50 Found out a new problem I have, I'm afraid to take my signals now. Paper traded the YM and broke even on that. Great signals for gold, but I was too chicken to take on the trades. Feels like a loss when I chicken out on a trade and it works. But I hardly took any signals, and got out too quick. And hold on too long to the winners. I'm done for today, gonna run some errands.
Today was a crazy day in gold. Didn't quite capitalize on it as much as I could've. Cutting profits way too fast. But I'm still profiting slowly. Going to paper-trade the YM for the rest of the day. 9 shorts, 1 loser. +520.50 today's balance: $2,614 / 10k