Now that u have read all these platitudes, here is something concrete that u can use. When u exit a trade below ur entry signal, get back in at a risk level adjusted to your new account balance. U had a reason for getting in, so u pulled the trigger. That's good. The reason u had for getting in went away, so u got out. That's also good. The reason u had for getting in returned, and u violated ur trading rules and did not take the trade That is very bad. If you take a profit early, plan on getting back in on a lower fractal entry, and of course, adjust ur risk accordingly. A late move means more greater risk of loss. Be mindful of that.
Couple ideas: Avoid trading too early. The first 20-30 minutes can be volatile and directionless; give the price action a chance to establish an opening S/R range in reference to the previous day's S/R, then put on the trade. Set a tighter stop (.10-.20 cents) and re-enter the trade once it better establishes a setup in your favor. For example, long @ 27.00, stop @ 26.80. You're stopped out and it drops to 26.51 and pivots. Go long again. Unless you're fighting a trend all day, you will take one or more small losses and eventually catch the big wave you were aiming for. I can't tell you how many times my ADD self stops out for a small loss then moves on to another trade instead of focusing on what I started, only to see the huge move in my favor came just a short time later off an even better entry level.
A wise person told me some years ago: You can sell too early, or you can sell too late. Those are your only choices.
Trading stocks to make the stock's offer each cycle is a standard routine composed of several parts. These parts have established order of events. Stocks vary in their propensity to cycle. The best ones are high beta stocks with high EPS and high RS. Mandelbrotset said something to you and it was hollow and had no substance. The WHAT is stated just above. There are 8 parts to a cycle. They follow an order. To enter you watch for the event in the cycle that comes before the entry. Then when the entry shows up you enter. In the case of cycle trading a stock, you get the signal to enter about 1 to 1 and 1/2 hours before price begins to move. you caqn watch a list to see this happening. Call it list 1. Similarly, as expected, the same is true for the exit. To use the high beta stocks involves sorting them. It is best to sort them with the cycle of trading in mind as well. It takes the press of a button and the list appears. Call this list 2. Doing the routine of trading stocks requires that you do what your two lists tell you to do when you are told to do it. Here is HOW you trade during the day: Before open put the best stocks on list 2 on list 1. At open watch list 1 and enter as the signal is given to you. the signal: Volume reaches .25 or better in an hour to 1 1/2 hours. Continue to hold stocks that are cycling and when list 1 tells you to exit a stock you are holding do so. The signal: Volume peaks relative to prior high volume. As you will see your plate becomes full of stocks that are making you money. Then, you will do the more sophisticated thing and replace those that are making money slowly with those that make money fastly, in comparison. This is called cross over trading. the main message here is that there are no positions a person ever holds that are in drawdown or are not making a fairly high velocity of money. If you work at some prop shop, ygo to the trainer and get him to give you the set up on your computer to be able to put up the two lists. Here is what he will do: He will give you a high beta sorting lprogram or web site to make list 2. They are all over the place on the web. Next he will give you the Qcharts or equivalent list 1 sorting site. Qcharts sorts with the column called "unusual volume". If you can't sort out the best stocks on list 2 put it on Qcharts and sort by unusual volume and just pick off the top 10. I attached an example for you so you can see what the lists look like near the end of a day. Notice the percent of profits for those at the top of the list.
same way you move on after being dumped. Stop looking at the ticker! Stop consistently thinking about what life would be like if you made the correct decision! These two thoughts will kill your future trades. Take the lost opportunity and move on to the best next trade you can manage. I've lost dozens upon dozens of really good trades. it's simply better to just move on. STOP LOOKING AT THE TICKER AND CALCULATING DREAM PROFITS!
strange i can't win no matter what i buy to late or sell to early if they go up or down always should have done better so came to look at it in a new light ,now buy blocks and when reach my goal sell part and bag the gain and still hold some if it go up in many cases can make as much on whats left but cant dwell on it if it goes down that just lowers the gain that was made but i still come out ahead.
This is great advice. I would add that every trade is independant of all other trades because they have no memory. You need to ask yourself why you got out of the trades. You also need to accept that no matter how well you play it, you will almost never get in at the bottom and sell the top. It is about being disciplined and taking more than you give. Once you accept that you will absolutely be wrong, you will be able to let the feelings that you currently have go without a second thought. It may take days or weeks to be able to let go, but eventually it will only take one deep breath to reset your mind and get on with the next trade. The most important thing is to always remain neutral and take in the information the market is giving you. Like others said, if you exit that doesn't mean you can't re-enter when the next trade sets up.
The market will expose and exploit all your mental weaknesses, specifically emotions, instincts, and any flaws in your rationality. You have to remember that the market is a competition among human participants. The only way to win is to either have or work to attain the qualities (edges) that others don't because they don't have it naturally or aren't willing to obtain it. This often means developing the qualities you lack above, adapting your mindset to the market, commitment/discipline/experience, and/or other pathways like programming skills that others won't develop. You seem like a relatively new trader, as am I. About half my trading rules pertain to re-developing my mindset and emotions, and about half of those aren't even market related. Work hard and your problems should start to go away over time. Hope this helps.
First of all, don't quote me. Second of all, you're an old loser who loves to get on the internet and run off at your mouth, just spouting gibberish and absolute bullshit. :eek: atticus suggested that you may be suffering from schizophrenia. I don't think so. Besides the fact that you're just some asshole who is: 1. a failed insurance salesman, 2. lives off of his wife, 3. got -24% in a trading competiton in 2002 and then quit, 4. tutorted an ET member by the name of Neoxx who blew-out his account not once, but twice, and 5. have been caught pimping fake paper trades done by your protege spydertrader all over the board; 6. promised to turn $10k into $1mm and promptly disappared when that didn't happen either. 7. was brought back to the board by nkhoi (a moderator who can't trade to save his life or jack hershey's flagging reputation) after being banned for doing the exact same thing you're doing in this thread ...; *** I think you're just an old, old guy who wants to have the fantasy of having actually done something useful with his life in his twilight years. Yeah, I know. Sad.