I am getting my butt handed to me on a daily basis!

That was funny!

 

Point taken. Thanks

 

Visaria,

I bought the Kindle version and I am starting it now. Yes, I believe my number one problem is not my 'system' or my 'edge', but my own psychology surrounding it.

Thanks

 

It's very manipulated right now - I would holdback on the LIVE acount and wait till we start pulling back or all new highs.

 

Bau250,

How do you know it is any more or less manipulated than any other time? I am in no way saying that I doubt that you know. I would just like to understand about how to know when these extremes occur. The thought has occurred to me to use some sort of a filter to gauge when the market is acting 'strangely'. I can see it in the charts, but have not devised a method of quantifying it. I don't even really know what it is that I am 'seeing'. Hell, I may not be seeing anything in reality.

Thanks

 

Some have studied markets for as much as twenty years before starting trading.

 

Replace "system" with "thoroughly researched and tested business plan".

Replace "generally" with "precisely".

Read Trading in the Zone and trade your plan in a demo account until you can trade it with a trader's mindset.

Not sure what "try" means here. Do you have a disability that prevents you from seeing your setups and putting on and taking off trades in a timely manner?

With regard to playing reversals, what are your rules for trading a potential reversal?

 

If the asset you’re watching is trading erratically or tracing out a pattern which can’t be easily classified by your backtesting, it’s best to avoid it. Instead, trade only in assets which display “clean” and tight looking consolidation and/or continuation patterns.

After awhile, you just "know" before the market even opens what kind of day it will be - and if it's even worth trading. This month has been a nightmare for my system, very erratic price action with no rhyme or reason shaking out the weak traders.

 

I trade pin bars as a reversal. I have attempted to filter out the pin bars that fail from the pin bars that lead to reversals. My filter is based on ATR and surrounding bars.

I guess in a way I am trading swings intraday. My time frames range from 15min to 4hour. I have been experimenting with tick bar charts as well.

I am starting to learn C# to try to begin to back test thoroughly. As of now I manually back test three or four months. I see that even that is subjective in some ways and can lead to errors. Your recommendations? I was using Tradestation, but recently changed to MultiCharts .NET

I am currently reading Trading in the Zone per Visaria's suggestion.

 

In my opinion, you should not be learning and developing a method by trial and error with real money.