This is your journal⦠and your journey Where do you want to go? ===================== Aside; There are 3 aspects to trading.., which must all work in unison (and harmony) The trader The approach/ methodology The tools Imo the trader is the most important of these three A common denominator among all successful traders is a mindset⦠that is unlike any mindset youâll find in the ânormalâ world In fact the mindset necessary to succeed in the ânormalâ will lead to certain failure in the trading world As for the other two.., there are a million ways to make money trading⦠and there are a million tools one could use in doing so. Though I do think it necessary to have a trading planâ¦, and to journal every aspect of oneâs trading But other than these two â the sky is the limit â unfortunately to many traderâs chagrin You want to discuss mindset â we certainly can You want to discuss tools or approaches/ methodologies â we certainly can Like I said â this is your journal / journey â you lead â Iâll follow ============================= Obligatory disclaimer; I canât guarantee you success â no one other than YOU can do that I will give you specific answers where appropriate I will also give you answers that are open ended / require you to come up with the specific answer(s) Why you suppose that last one isâ¦.. Because ultimately â you are all youâll have to rely on â same as it is with the rest of us Because â it is virtually impossible for two people to trade alike â you need your own way Because you must trust yourself/ your method implicitly â and trade without thinking If youâre open to that â we can talk â if not â no sense wasting your timeâ¦, or mine ===================== My last thought; Drop the lol(s) Gives the impression you are not serious⦠and/or trying to cover up ignorance/ uncertainly / not knowing We (traders) live/ trade/ thrive in the world of uncertainty / not knowing â may as well get comfortable with both straight up And goes without saying â trading is serious business RN
"A healthy strengthening bull market is accompanied by a large number of stocks making moderate upward advances in price. A weakening bull market is characterized by a small number of stocks making large advances in price, giving the false appearance that all is well." The stock market trend is up. SPX Weekly Divergence http://britefire.wordpress.com/2013/09/01/distribution-stock-market-topping/spx-weekly-divergence/ The Bullish Percentage of SPX is down. SPX Bullish Percentage http://britefire.files.wordpress.com/2013/09/spx-bullish-percentage.jpg?w=1000 Stocks above their 50 Day Moving Average is down. Stocks Above their 50 Day MA http://britefire.wordpress.com/2013...-market-topping/stocks-above-their-50-day-ma/ Another high with another divergence may occur but TheEndIsNear http://britefire.wordpress.com/2013/09/01/distribution-stock-market-topping/theendisnear/
Rough start to the week. A few stop-outs on oil in a row and I'm down about $800. Gap down overnight and a huge spike down, so I thought I'd trade with the trend, but all attempts at shorts have been stopped out. Small winning trade on the ES
Annoying. After losing confidence on the short side due to 4 stop-outs, it now decides to drop 60 ticks nice a fast without me on board, lol.
Day 11 = (-$794) Various failed CL short entries. Price eventually tumbled once I'd given up trying to short it. Hopefully better luck tomorrow.
Pinkman, From what I see from the locations of entries and exits on many of the charts you posted you seem to know what you are doing. RN's commenting style is rather interesting however if it does provide actual value is up to each reader to decide. To me, with all due respect, not much, though his comments seem to sound good in general. Perhaps commenting on why your entry, stop, exit is not so good would count as "specific" and constructive, if he is so willing, in my humble opinion. Best to your journal and trading, OC
OK start to the day. shorted ES a few hours ago near the high at 1648. Looked like it was struggling to go higher and I took the short. closed it for +3 ES points. Also caught a few ticks on a cable trade. Up around $300 so far this morning. Need to go some to wipe out yesterdays losses though.