heres some good tips you can use to improve your trading skills 1) For each trade, have a screen print on , Once executed, print your screen so you can review later. 2) When reviewing your trades, write down every mistake you made, Make sure you don't repeat it anymore tomorrow. 3) When starting out, use only 1 strategy. When you use multiple strategies, things just get mixed up and some RULES that is suppose to work for FADES do not work for breakouts. Dropping markets ( shorts) also drop differently then Rising markets (long) They rise and drop in different patterns. So know just 1 strategy, and 2 methods for the strategy 1 ) long 2) short because they are not the same PATTERN in my opinion. Thats all.
I don't understand Grob either but I read his posts, but then I still don't understand it, so I think I'm just stupid, but its good to know other people don't understand it so I'm good to go.
I am encouraged by Grob109 that one can be a great trader without being able to spell. I am always getting into trouble trading UL when I meant to trade LU. TI and IT. You get the picture. But it always seems to work out OK. The unconscious, you know?
Ok... I will bite. Please explain to me, Grob, how my posts demonstrate that I don't know how I "work". Please quote the line or lines that tell you this with such clarity that you are able to manifest this deep psycho-analysis out of thin air as if by magic. Also, please tell me where I am so I can find my way back and get away from where I am. Since you know so much about me based on the posts you have read here on this public forum, I would like you to tell me in front of all viewers here how lost I am. Additionally, how often do you take 17 pts on 100,000 shares while the rest of us take only $800 bucks, as you mention. I find you entertaining more than anything else. I find that you are trying to convey, through the use of long-winded sentences, that you have reached Samadi. You have transcended the relevant and no longer live in duality. You have overcome this dream we call life. Of course, it is possible and it is our destiny to do this, but it is interesting that those who have in the past do not speak as you do. Anyway, please reply to the questions in my first 3 paragraphs above. I'm willing to indulge you and keep an open mind. But please remember that I'm only a layman who understands simple, clear sentences without references to thoughts within thoughts. Just put it in bullet format. If you still have time after that, maybe you can respond to my second post after yours above where you tell the OP how he should have phrased his thread. If this can't be done, then I'm afraid that you have lost me and all that typing was for nothing. PS: The adverb of ample is amply not amplily.
GOB save the psycho-analysis for the couch. Here is a link that may be of some help to you. http://cleveland.cr.k12.ia.us/schoolwide spelling/kindergarten.htm ozzy P.S who sits on the couch?
I have been a losing trader for 1 year and the last couple of weeks have been completly lost and deciding if I should continue, I feel lost cause I cant make consistant progress and thought my approach, mentallity, psychology was completly off and I had no one or where to turn for support or advice, so I looged in I guess looking for some message. Futures71 original post made me realize that I am on the right track, that I am going through the process of learning how to trade profitable. After reading the post and looking back where and how I traded 1 year ago to today, even without being profitable, I am made tremendous strides and can only have faith that in 3,6,9,12 months from now things will be alot better if I continue to work and learn. Doing this full time on a part time evening salary, giving up a social life, and a $75,000 a year job to pursue this is incredibly taxing: mentally, spiritually, and emotionally, plus the fact the no one understands WHY I am doing this or WHAT exactly I am doing makes for a very poor support system. So I can appreciate Futures71 comments and his support to struggling traders. Every book i have ever read about helping traders says the same thing, capitalization, discipline, patience, $ management, trading the plan, etc. So we will continue to read and hear the same things over and over cause thats all trading is at the end of the day.
$75,000 a year job. WOW. WHY THE HECK ARE YOU TRADING. (sorry, too excited) $75,000 a year. Work for 10 years = $750,000 Much more than any layman could make off the market and more than enough to retire with!
LOL, don't forget federal/state income taxes, payroll taxes, living expenses. At that salary it takes 2-5 years just to build up a PDT grubstake. Speaking like one who never paid significant taxes eh?
What you have is a head filled with trading myths and, to borrow from Grob, no knowledge, no skills, and a year's worth of bad experience. On top of that you are drawn to posts that reinforce what you do now. Look again at the last paragraph in your post. The things you have read over and over in every trading book you came across have really sunk in with you. What exactly did you learn from reading and hearing the same advice over and over anyway? Certainly not how to make money. You could do a lot worse than to start fresh without any preconceived notions about making money in the market. I do acknowledge that might be impossible, however. Second best would be to figure out whose posts are worth reading around here. That will require some effort on your part. Good luck.