me too... don't know what happenned?? i got a light fever on sat & sunday .. so monday nite i took a cold shower and went to bed early .. now i am all refresh and ready to face the world again. Life is still beautiful!
Sorry Matcha. Unless you were stopped out... 12 points on Dow... you are scalping. 10 points, 15 points... you are scalping. You trade 1 contract, it's hard to scalp. Remember - eating like a bird, that's scalping. It works as long as you don't have a big loss from a trade due to unexpected moves. I think you need to aim higher. Not sure what your typical target is, maybe if you don't see a 30-50 point potential, let it go. 30 point = $150. 50 points = $250 a trade. 11 trades to make $208 ~= $20 per trade. Or 4 Dow points per trade. Just the spread will kill you. Also commissions. Sniper this is not.
Sun Tsu said: Avoid the strong. Attack the weak. Don't try to be a hero in the eyes of commoners. Cheer the bullies. Beat up the people on crutches.
To Match and OP, Vietnam's leader used the '"the art of war" when fighting againts the USA. Ho Chi Minh was able to mislead.. he used only minimal military operations and his general, Giap carried out the terrorist and guerrilla operations to take control from the French... etc. For Mao Zedong, he used the Sun Tzu's Philosophy to defeat his opponent Chiang Kai-Shek. Sun Tzu wrote "all warfare is based on deception"... Mao wanted to avoid fighting head to head with his opponent who had a bigger army, Mao used a guerrilla strategy, he used Sun Tsu "attacking the enemy where it is not expected" and "attack the enemy's weak points." Mao didn't have any bases, he could focus solely on the attack and it made it hard for the enemy to locate his soldiers. Mao's supporters were peasant farmers and they joined him, and when the red-army's getting stronger, Mao went on the offensive and pushed Chiang Kai-Shek out of the mainland.... you can use the philosophy of "the art of the war" in trading too
Try very hard not to overtrade today. Stopped trading at 12:30Pst. Did OK on morning session. Took one sniper trade. Late session was a messy. I missed the rally. Tried 2 reversal trades. They both were failed. Now I looked at how TRIN was trading the whole day(below 0.8). I shouldnât have even tested the reversal trade when TRIN is so bullishâ¦â¦ errrrr, When do I learn???? Trade A: long. Not a great entry for long. Mistake #1, Buy at the upper channel. Mistake #2: Buy at the 3rd wave. -9 Pts loss Trade B: Long , buy at pullback. Sell a YTD open. 31 Pts Miss the rally at 10:00, I decided not to chase it. 11:40 and 11:56, tested reversal trade. Gave back all the gains. Mistake 1 : No reversal trade when $TRIN has been very bullish whole day long. Mistake 2: In a larger perspective, price just finished 2nd wave. No a good place to go reverse Totally -20Pts loss. Trade C: long. Stopped out by red candle 7 Pts. Went back in again, hit stop at b/e. Running out of bullets. Gave up trading. Then market reversed back hit my ideal target 10147â¦. Missed at least 28 Ptsâ¦. When can I learn? Kept making some mistakes. Doing same thing again and again. Todayâs PnL: $28.2 ,7 trades, 20% winrate I am posting 2 min chart today.
Looks like Big Sis is an expert historian as well... In trading, it's hard to think "who" the "enemy" is. Let's say that it is collectively "the market", or collectively all market participants trading against your move. That's what I found most difficult in applying the principles in The Art of War in trading. Nevertheless the philosophies can be applied in many cases.
Thank you, sis. Sun Tzu taught me a lot too lately. Now I am trying very hard to apply them in trading. in real action...
The market is neutral and rational but people in the market are crazy and irrational. Thus, the colletively all market participants trading against our move is our enemy :eek:
Thank you ~~~. I will try to apply the philosophy and treat the other side of my trades my "enemies/opponents". My weapons are my strategies, believe it and apply it with confidence and CONSISTENCY.... Consistency is the hardest part for me.... --po