Huios excellent trading today! Congratulations! Can you explain a little on this comment "Cage, where ever you are, I took every trade today. Thank you." Thanx
Very good Huios! As far as the evolution aspect of your journey is concerned it looks like you may have just left the knuckle-dragging stage of trading life and are beginning to stand upright! How's the view from up there? Continued Good Trading.
Your first trade was a nice clip, 10Pts.; it gave you confidence, and padding to trade, more trades than you usually do. And you let them run longer than you normally do. A lot of those trades became profitable relatively quickly: hot momentuum trades. The fast and safe money is made in the accelerating trend and/or panic. If your first trade was a -2, or forbid a -10, would you have traded as much?---Peterg
Huios, Congratulations on your success today. Excuse me if this has been addressed before but are you now trading off of 3 min charts? Also how are you using the 4 moving averages that appear on your 3 min chart. Maybe your next step is trying to be consistent. I wish you luck with this. Richard
yesterday, could have 30p, to day did have 42p, yesterday vanish like a dark cloud on sunny day,keep that feeling you may need it again and again, like Woodie said..oh, never mind, job well done, congrat
Greed is a particular form of fear. It represents the fear of there not being enough and of want. No matter what names and labels we give to the emotional forms of fear the results to trading are the same - distortions of judgement. When you look upon and trade the market action as it plays out based on your trading rules and then look back at the end of the day and see less of the "hind-sight" deviations you'll know you are in tune with the market as it speaks its language AND you'll know you're confindently trading your rules. Actually what's happening is that you're more at peace with your rules and your interaction with them. The trade plan is just a template of our mental structure that we impose on top of the market's dance; that's why we truly trade the plan (our belief) and not the market because the market will do what it will, constantly reshaping itself, regardless of our rules. One point to consider. The tigher the timeframe you choose to trade the smaller the margin of error (fractions of points as opposed to couple of points) yet there's more "noise" at the smaller time frames. The catch-22 is that trading at less noisy, higher time frames will require larger size risk and hence larger account size. The compressed execution time of smaller time frames also causes the mind to race with all manner of self-discussion due to the urgency of decision making requirements. A quiet and confident mind will let you "see" the action as it is occuring and the opportunities will be more "clear". That doesn't mean you'll pick better winners (wouldn't we all just love to pick only the winners?!). It just means whichever way the trade moves you'll have a greater sense of how your rules come into play and more confidence in executing them. One last thing comes to mind. I don't remember if you've outlined how you consider trade re-entry if at all. ie. do you have a rule on how you get back into a trade that goes in your direction almost immediately after getting stopped out? Is your rule to not worry about re-entry per se and to just focus on the looking for the next trade opportunity? Thank you for letting me join in the discussion. It helps get my mind right too! I'm no trading guru. I'm still moving closer to those elusive moments when there is the total syncing of mind and market - The flow. The more of the flow we can be in the more successful we'll be. It's a point of peaceful oneness that is without fear! The only concerns are seeing the opportunities and trading the rules well. OK... enough psyco-babble! Just got time to catch up on reading posts so I see you're moving - joy! Have fun and we'll catch you on the flip side.