Hi, I think No-pm's method is excellent after a long range day. Monday for instance is going to be a good day for this method. After a narrow range day (like yesterday), you better follow the trend. my 2 cents. Good luck all. Momo.
First off, welcome back. If it was me, and I was considering a divergence setup based on your chart, I'd be skeptical of the fact that the 840am central time bar had many times more volume associated with it than the 940am bar based on the time of day, not based on the price per say. This would have little to do with the price and price movement in my opinion, but have everything to do with the time of day, in this case the open. Since Chaikin is a volume sensitive indicator, what effect do you think this had on your outcome? And if you think it had anything to do with the loss, is this something to look at in the future or was this just a one time strangeness? JD
In the past month I've had plenty of time to reflect on my brief life. At 25, I've had a great job as a studio musician. While many think 90% of traders losing is a big deal, I'd have to say that my experience has been about 99% of musician's don't make it as studio musician's. I'm sorry to say with my recent illness that I lost my job and I've been struggling with depression along with the disease. I thought if I could do something it would help me cope. I'm sorry to say that I hated posting this morning and I can tell posting isn't going to help me. I'd rather say how excited I am to be posting again. The truth is I don't have much desire to live much less post. My girlfriend has been there for me. I think maybe it's time I did something special for her. At the very least I need to get my head right before trying to do anymore trading. I think I've revealed all I can about this method. It made me some money in the past. I have no idea if it will continue in the future. I can't really add anything more to its use. If you want to try it, change it, or ignore it...go ahead. I just wanted to end the journal rather than abandon it. Take care and good luck with all your trading.
Your health and family are the most important things, and you've got to take care of that first. You put together the best journal I've read on ET and I learned a lot from it. Thank you for that. If you ever feel like contributing again, I know you'll be warmly welcomed back. All the best
I second that. One of the best all around contributions in this public forum. no_pm_please, hand tough! Take care of number one. We all go through cycles. As the old saying goes,.....it is always the darkest just before dawn.... Thank you for answering all the questions. Best wishes and a speedy recovery.
Your experience will be missed here. I appreciate your helping to train me in the ways of divergence trading. Best Regards, Dan
Just wanted to thank you for the fantastic journal , it has defiantely set a new standard for the E.T. journals forum. You are very impressive as a trader and more importantly as a person. I'm sure you'll get things back on track soon. Let us know how things go , we're all rooting for you .
To Any One Reading This Journal, (I'm big on the psychological and physical affects of trading) Trading is one of the toughest mental games in town. The stress and energy consumption can cause havoc on you mentally and physcially if your not properly prepared... regardless if your a profitable trader or a losing trader. * Any mental weakness you may have...trading will expose them and amplify them. * Any physcial weakness (illness or disease) you may have...trading will expose them and amplify them. Therefore...when you become physcially ill...especially when it may require hospitalization... Its time to take a physcial and mental vacation from trading and discussion forums associated with trading... it does not make you feel better if you continue such when sick. I've had mono myself while competing at a top level in sports... its an ugly bug that requires tons of R&R (rest and relaxation). Mononucleosis symtoms: The most common symptoms include fatigue, headache, loss of appetite, sore throat, tonsillar swelling, enlarged lymph nodes (swollen glands) in the neck and perhaps underarms and groin. A low grade fever occurs at first, and then rises to above 100 degrees after the third or fourth day. Less frequent symptoms include puffiness of the eyelids, sensitivity of the eyes to light, a rash similar to measles and jaundice. How Long Does It Last? Severity and duration of symptoms vary. Acute symptoms such as sore throat and fever usually pass in 7 to 19 days or less. Swollen glands, fatigue and lack of energy almost always disappear in 2 to 4 weeks. Prospective studies among University populations have established that 20 % of patients returned to work or school within one week and 50 % within two weeks. Occasionally fatigue which is usually intermittent and of moderate intensity lasts for months; such chronicity of symptoms occurs in only 1 - 2 % of cases. Once infected, a person will be immune to further disease indefinitely. The illness can last from 30 to 45 days depending upon the strength or weakness of your immune system. Are There Any Complications? Because mono involves the blood forming organs of the body, enlargement of the spleen and/or liver may occur. Involvement of these organs is part of the disease and not a complication. Abut 50 to 75 % of people with mono have some spleen enlargement. These changes can be detected by abdominal exams and specific blood tests. My purpose of posting the above info about mono is to let those know that has never had it nor know anything about it... Once again...this is a serious bug and all associations to trading should stop because of its mental/psychological demand. no_pm_please started a good divergence thread...as good as some of the other good threads that I've read. He disclosed a trading setup completely... everything about it open for discussion. no_pm_please as a discretionary trader spent a lot generous time replying to those that wanted to mechanicalize or code and backtest and replying to the flaws in his divergence method. In my opinion...to much time because he is a discretionary trader. Everything was cool until around August 18th in this journal... Yet, I do remember sometime prior to the above date or so...he said something about eye sensitivity (visine). Soon after that...this journal heats up a bit...traders trying to code it...backtest it...discussing problems with the method...forgetting he's a discretionary trader. then no_pm_please wasn't around much after that... returns around August 20th and saids he got stressed out about something. After that...he started having an increase amount of no signal days, no trading days in comparison to how this journal started. Then around August 25th, he announces he's sick as a dog. August 28th, he announces he has mono.. October 3rd, he's still sick as a dog and doctor wants to hospitalize him... Yet...he planned to continue his realtime trade posts and contributions to the divergence signal (mistake in my opinion). Soon...if anybody notice...he started saying he had trade signals but not taking trades... then a few losses started appearing (0 wins and 3 losses via his method). Traders...there are more important things in life... such as your health (physical and mental), your family and loved ones. When you have an illness...stay away from any associations with trading... the market will be here when your healthy (full recovery) and ready to return. Further, if you return to any associations to trading when your mentally and/or physically not ready for it... literally...it can be life threatening. Trading is one of the toughest mental games in town. P.S. There has been some documentation of a connection of the development of depression after recovering from mononucleosis... However...there has been hospital studies that indicate there's no connection. Yet...depression can be the end result of continued fatigue regardless to what caused the fatigue. NihabaAshi