Well hell..., either I've pissed you off.., or you're scrambling to make ready Since you wish to be a trader - I'll assume the latter ============== Here's what a trade plan looks like - make one for each trade Then follow it to the letter.., until the trade is exited No excuses..., no exceptions Each trade; 1.) Signal / Entry 2.) Initial Stop loss signal / Stop loss price 3.) Target / Method of managing trade ======================= Tomorrow..., forward - is about routine..., it is only about following the routine The result of each trade - do not matter one bit Questions - ask (I will respond..., but it'll likely be EOD) ============ You don't know..., you get scared..., you get nervous..., you have doubts..., you think you're looking / trading like a damn fool.., you fuck up We've all been there You will get through it..., you will survive Ultimately the goal is to thrive ========== You find out the shit you have now..., ain't working - it can be changed But only after hours are you allowed to change it Journal everything (thoughts / actions / questions / issues / trades / results / type of day / etc.., etc) ========== Regardless the outcome tomorrow - no ego - the result do not matter Only that you follow the routine (this will matter your entire trading career) Rome wasn't built in a day.., and neither will you career Have patience..., keep your head down..., keep moving forward Trade well tomorrow ============= Successful Journey Sir Oh, and btw..., Welcome..., to my world RN
Forgot to add You forthcoming actions will determine if we agree And so we shall see ===================== One final thought; Trading is strictly pay for performance And Trading is only about making money..., by protecting capital first..., making money second Everything else is noise ======================== Clear your head and get some rest..., please - tomorrow your journey begins - in earnest RN
Yes please bathe your pets. I'm going to view your words as pragmatic. If you've got to be a hard-ass because the market's a hard-ass...then I'll toughen up a little. I understand. That longer range to-do is continually being worked on. Even today. Douglas book is helping a great deal in that. Amazing how fear can be self-fulfilling. I'm also ready for slower pace of the 5 minute. In the future, might consider 1-3 minute for entries, for now, 5 is perfect. I'm prepared. Be up early tomorrow, ego check, my ONE set-up, and trade plan. I spent time this evening trying to incorporate horizontal landscape into my chart. I've never done that before. Woops. Read a little from Al Brooks, and slugar also taught me a little about his zones via PM. I have to work on the horizontal part and learn to define S/R. It's a good idea to watch these zones and current PA around them.
Not pissed off. Only seeking to understand you.Thanks for assuming the later. I'll have trade plans for each including those three points. I'll journal everything you mentioned. Thanks for the "warm" welcome
11/3/2014 PREP. Price made an enormous climb pre mkt friday 10/31. Current trend is still up on daily, however price has "almost" reached the upper channel extreme. After pre mkt climb on friday, price ranged in a 20 pt range all day, slipping through the top to quickly make a new high for the day. Areas I'm watching. All day Friday price has found resistance at the 4152 to 4154 area. Price broke through an up-trend channel demand line, which began on thursday 10/30. Resistance noted, if support is found here instead, we have friday high at 4163.5. Support areas are the bottom of the range all day friday--4132-4136. Further down is the massive pre mkt move friday which has not been revisited at all. A zone of resistance created 10/28 was tested again 10/29 and failed, and again 10/30 and failed, and then became support later on 10/31 with the large pre mkt move. That area is still noted because it might be in play later. Or not. We'll see. Nice to know it's there in case. Plan Trading One Signal Plan for each single trade. Journal any questions, thoughts, issues, concerns, fears, ...etc... I'm back on SIM BTW, until real consistency is found here. So sense pissing away money. Let's Dance, J
The best thing I've learned in the last while is keep your losses small and accept them as part of the process. To me the entries are easier to learn than the exits but when I learned to trust myself with taking a small loss it became easier to enter. Now my next step is to learn to let the winners run.
Thanks slug. Using 1 min helped me with low risk. However, it also contributed to my crack addiction with trading. Lol. I do hear what you are saying though. Losses--small,contained--are part of this biz. Accept it. Thanks J
We can do everything correctly... follow our routine exactly - and the trade still breaks down for a loss..., or works for a profit We can do everything completely bassackwards/ incompetently ... simply throw on a trade..., & to hell with our routine - and the trade still breaks down for a loss..., or works for a profit Heck of a way to make a living - but that's how it is Manage losers first (keep em small)..., make money second ====================== Trade well today Sir - & screw the results RN