Oh hell yeah!!!! Mav do the Combine with a live journal...!!!!! You've made a really good point here... Reality... Manning throws 500 yards in simulator but sucks a little again when he goes live and gets sent back to simulator... Manning is toast!
cough cough, another ET gem. Thanks MP! good trading is about waiting. alot of it. and cooldude stay off that addictive dom? dom or charts not both. 3 charts with 3 timeframes. simple.
agreed.. we have a lot of guys come into the Combine looking to trade many products and slapping on indicator after indicator.... We're on the trading floor and the traders in the pits that are on screens now, have their ladders(DOM) up only.. rarely do you walk by and see a guy with all charts. They get their levels in the morning when they get in and wait for the market to get to these and then see how it is setting up, firming up, or weakening up... Keep it simple stupid is the motto... mp
Actually, I quoted it directly from the trading plan. Your example is correct, if someone is UP $700, they should stop if they start losing $350, but nothing stops them from being up $700, losing $200 (thereby net up $500, so still below the 50% pullback), and then back up to $1,000. Your post simply states the obvious. Of course these do not have to be followed once the cushion has been built, since the trader would then have 5k of their profits on the line. There were posts stating that traders were "gunning it" into the close of the combine. My post simply clarified that trading in the combine allows for BROADER DISCRETION than trading in the live account (called the "live combine").
1) Agreed, it's better to have it incorporated into one's trading plan than not. However, the fact still remains that these ARE additional metrics that traders must abide by in their live account, but NOT in the combine. Those doing the combine may simply want to read the .pdf so that there are no surprises once they get their live account. 2) See my reply to the op.
Actually Joe, Michael has stated many times you can revise even that trading plan agreement. Everything is negotiable in life. Never pay sticker price.
Well took many small losses on the uptick in S&P expecting the sell off... Was profitable 1 trade in Euro... Held the S&P sell off from the top trade... Net +$187.50