No trade today. Will take 2 weeks off from my journal and only watch the market. I am not taking break from learning. I am still maintaining 50 hours /week. I started the day by looking at the bars and talk to myself about bar story and patterns as bars developped. I am not sure how much this excise can help, but I need some more time to understand Al's strategy before I continue acting as a trainwhreck and have no contribution to this trading community! Everyone, please continue to stay with me in 2 weeks! Happy trading!
This will help a lot because I still do it while I trade and it works. I make note of the trend (or channel/range parameters, if applicable), and where price is relative to the trend. I also have the short term and longer term S/R levels noted so I have an idea how much profit to expect. Then when I see a potential setup forming I talk to myself about the price that would trigger an entry (sometimes it's bracketed option, where I'll take either side depending on what price does next), what would the stop and potential target be, is the reward:risk ratio between them positive enough to make it worth the risk. After a while you'll get more in the rhythm of being proactive, with less hesitating. That's assuming it's a clean price action day. Then there are days that try our souls.
Hi Matcha, Best wishes to you! It's a great idea to spend time to digest what you have learned from Dr. Al Brooks. --po
Reading this thread is an engaging experience. Your thought provoking analysis, fantastic charts, great advice (from you and the SIFU's here), and the interesting questions raised here make this a daily must read journal. The successes and evolution of your trading is very inspiring thing to behold. In my mind you are living proof that hard work and focused effort can yield great results. There is nothing about trading that is easy or simple. Anyone who's walked along this path knows is not for the faint of heart, the dumb, or the lazy. There are no short cuts. Kudos for your decision to take a break. The stillness and decision free focus will enhance your clarity of vision. This break will be a natural compliment to all you've achieved on the doing side of the ledger. Successful market approaches, IMAO, require an ability to strike a balance between seeing and doing. The purest advise I've read on ET (and elsewhere) is to "Trade what you see". Once again you seem to be able to effortlessly make the right move at the right time in choosing to take this break. All of your fans here await your return Take your time and be well All the Best, FMR
Watch this video, this will help you. Develop Your Mental Edge by Dr. Andrew Menaker http://www.screencast.com/users/Mar...rs/media/d033bd77-c103-45ac-a5ef-8e2ffb611537
"Blue" huh??? :eek: hi for anyone that's "blue" ... try listening to a beautiful song by Don and look at some beautiful art works from ~Vincent~ hope the song and the art works will made you calm & smile hope everyone has a great day ... http://www.youtube.com/watch?v=ZTHrTOzfqhg
Hi Sis ~~~, Thank you very much for the beautiful beautiful art works by Vincent van Gogh and the very very soothing song by Don McLean. Now I am calm and . --po