BPNDX pnf first reversal since July 22: http://stockcharts.com/freecharts/dynamicpnf.html?$BPNDX (need to copy paste whole URL to get BPNDX, otherwise you just get DOW).
Not much of a PnF chartist, but I do check it once in a while. After all, Paul Rotter, arguably the biggest daytrader in the world, favors PnF charts.
For those traders that might want to brush up on some critical rules, nothing beats "The disciplined Trader" by Mark Douglas (pit trader written in 1982). Here it is in PDF excerpt: The following typical trading errors have a specific cause rooted in a thinking methodology that can be changed. 1. Refusing to define a loss. 2. Not liquidating a losing trade, even after you have acknowledged the trade's potential is greatly diminished. 3. Getting locked into a specific opinion or belief about market direction. From a psychological perspective this is equivalent to trying to control the market with your expectation of what it will do: "I'm right, the market is wrong." 4. Focusing on price and the monetary value of a trade, instead of the potential for the market to move based on its behavior and structure. 5. Revenge-trading as if you were trying get back at the market for what it took away from you. 6. Not reversing your position even when you clearly sense a change in market direction. 7. Not following the rules of the trading system. 8. Planning for a move or feeling one building, but then finding yourself immobilized to hit the bid or offer, and therefore denying yourself the opportunity to profit. 9. Not acting on your instincts or intuition. 10. Establishing a consistent pattern of trading success over a period of time, and then giving your winnings back to the market in one or two trades and starting the cycle over again.
Dear eudaemon, Obviously, you are too stupid to understand what I meant by "plug and play". Let me rephrase myself in a way that even you can follow: I paid for a three month lease, followed the instructions on my screen and there you go, ready for live trading. Attached is my trade log for the days you thought I were paper trading. I believe each and every trade was called out in this journal, feel free to cross reference. There is one trade that is missing that I called and that was my first long entry on Friday from 31-35. For me it was every bit as real as a live trade, because I thought it was live when I managed it. Ninja boots in simulator mode by default and I had forgotten to set it up for live trading. I was shocked to see that no real trade had been executed when I checked my account, but luckily I made up for it in the subsequent trades. What else gave me away? You see, eudaemon, I`ve always been honest about my progress and my wins and losses. For most of my trading career, my losses have outnumbered my wins and I have never tried to hide that and give an impression of being anything else than I am. My main objective with participating in this journal is to learn and continue improving, while communicating with other traders in what is a rather lonely profession. If I can help others become better that is also a great pleasure to me. It would be cool if you could become more of a team player and stop dicking around and wasting our time with insults and witty remarks half of the time. I know that you are a clever guy and have the ability to contribute with an intelligent opinion once in a while, so I`m sure we all want to see more of that End of transmission.
LF, you just spent some precious sleep time answering an idiot's charge. Hey, it is late up there in Norway! But I can understand the need to defend! This SrRuthenate guy seems a sorry loser to me. Usually losers have hard time believing other people's success being real. This attack reminds me of many attacks that were thrown at Nodoji during her tenure here in ET. Sadly I don't know if she has left ET due to the attacks. Thanks for your contribution to the ES Journal and your Collection of Intraday Patterns thread. keep up with the good work and remember you answer to nobody. OC
A great example on how to answer back when someone doubts your word or calls you out. I wish ET had a rule where every call had to be backed with mandatory time stamps; ok that would be in a perfect world. Good trading to all.
you are an out of work comedian,sorry that didn't work out,but trading is a boring job,great if it pays between a sour note down time and being funny,but you're just coming in with jabs right/left,you're experiencing depression,rather than jab,look in the mirror and adjust,if you are as wise as you are a wise ass,a real trader would recognize his slump,you're old so you've seen it many times,you seem to still be hanging on to that 16-28 year old good old days ego,let it go,don;t take it out in this thread ,your denial is sad,not admirable,this thread is about trading,i have a friend ,he's 58,i'm 55,he can out smart ass me at will,doesn't make him happy,just perpetuates the inevitable,love the guy,old friend but joe ,ya just aint that funny any more.he'll get it one day but being a good/great smart ass is hard to let go..grow up ..if you can trade...add to the journal..if you can out wise ass folks,find a journal of your peers.leave trading to the traders,if you were one,and it's hard,figure it out and rise again,but don't waste your time trying to fool us while you're fooling yourself..i believe ya,nobody else does,but really ,i believe ya