SIM net + 313 Total trades = 11. ( I had issues with tradestation and also tried to control the urge of overtrading ) Today I was victim of false profit fill trade ( + 200 ) which would have not filled in real acct. Market is very smart its makes sure that it creates false illusions and guys like me get trapped. I respect all those who are consistently profitable. keep up the good work.
Man, what you've been taking lately? I thought you were out of Viagra. Nicely done, bro. Now, you keep your hands out of my cabinet.
Good trading. I was thinking what was I doing wrong in the past, and I really think it was letting my stops run and not my winners. Today, I went long on GBP, but when it broke through Andrew's pitchfork, and some of my other indicators reversed, I decided to take a 6 tick loss on the futures contract. Then recently went long CL, trade was around 9 - 10 ticks in my favor, but instead of just closing at around a 10 tick profit, I let it ride and got out at a double profit turning today from a loss into a nice profit. I also decided this would be my last trade for the day good or bad, since in the past my other problem is that when I took a loss, I would start randomly trade a lot instead of waiting for setups, and turn that into a big loss for the day. Instead after my loss on the GBP, I patiently waited for one of setups confirmed by both the indicators and the candles. I knew waiting for more profits would reduce my win%, but as long as you have an edge, I do think its better to go for bigger profits.
Can I make one suggestion? Would you mind giving us the rationale behind some of your trades, akin to NoD's end of the day trades qua blotters? That way, you can obtain sage advices from many smart traders here.
I watched the most informative and helpful trading video over the weekend. Very groundbreaking work, can't believe it is out there for free on youtube. http://www.youtube.com/watch?v=oHg5SJYRHA0
ES selling off nicely. I believe we should get a multi-day selloff. Likewise, CL should see the mat removed under its feet. Anyway, I'm getting out of this prediction business. For those who are interested in taking over, please make a formal bid. Thanksss.
Remeber the chance of storms in the gulf mate. Agree is es can't rally into eoq window "stuffing", earings could create a nasty impulse move down.
Much better! I like the positive R:R on the trade you posted. It was counter-trend and chances are 20 ticks might be all you get until a level is tested again and fails. Now try some breakout trades in the direction of the trend. Buy a new high, then put in a 10-tick stop loss and an initial 20-tick target with an eye toward 30 ticks or better. Once the first 10 ticks profit shows (usually within .00001 nanoseconds) , consider moving stop close to b/e.