Huios, Sorry about your bad day. I really respect you for sticking to your guns and following your system, though. You are exactly the kind of trader I want to become when I deal with real money -- using the right mental attitudes that you use. What is very frustrating about looking at your graph is the funny fact that, at some point during the day, every entry point you picked could have been profitable at some point. In fact, a few of your positions were profitable at points. Do you use trailing stops? If you were up +8 points, perhaps setting a stop at +5 points profit would have let you ride further without risking it going back into negative terrority? I've seen a lot of your charts -- actually all of them. Your entries aren't bad at all, but I think you need to concentrate more on trade management. Best of luck to you tomorrow! aphie
LOL Aphie... Right now, I stink as a trader, but the good thing is I know I stink, and identifing that is a beginning. H
cool.. im using macd primarily for the histogram, although im not using it in my trading decisions right now.. mostly i just use the fast stochastic for divergences.. -qwik
AAA, i know what you mean.. i never used them much until recently.. several months ago Chris Terry did a seminar in Tampa on using divergences in the Tick indicator to find reversals and that got me thinking.. then i ran into this guy who uses the stochastic the same way, so i decided to watch it and sure enough, its quite useful.. on the bbands.. i take the bband trades as they touch the band.. the key is not to trade against the trend.. and not to ever take a band touch long on a band that is pointed up or a short on a band that is pointed down.. and, it helps if the touch occurs on multiple time frames.. -qwik
funny fact? this is the kind of destructive thinking that leads to blown stops.. aphie.. if someone who was only demo trading said this to me after a couple of losing days, id probably become violent.. -qwik
qwiktrade, From this message forward, I am done giving advice on this board. Don't worry about that. aphie
H, In the same way that it's very useful to have a clearly written trading plan, I suggest you carefully write down exactly what you learned today. Keeps it from just swimming around in the ole noggin.
Sorry but I had to say it. "Me and Huios down by the schoolyard" Nice journal!! Don't dispair! But do tweak, grow. learn and change. At least you're doing it!
By this do you mean that you wait to see how the market is developing during the opening (say 30mins) and then pick a timeframe where the BB's seem to be working and trade that timeframe for the day? Thanks
Macal, i think for the most part once you find a good fit you can leave the chart settings alone.. for the ES im using 210, 343, and 55 tick charts.. but a one min and a three min should work ok.. and the nq im using 77 and 133 tick charts.. the bb settings on the chart i posted are 1.8 dev 8 period.. -qwik