After 20 years in the trading and trading education business, I have almost seen it all. Unfortunately, most of what I have seen regarding seminars, courses, books, chat rooms, trading rooms, etc. fall under the category "crap". My motivation for this Thread is as follows: - I want to demonstrate that it is really possible to make a living by trading. - I want to demonstrate that trading does not has to be over complicated. - I want to demonstrate that trading can be very easy, but unfortunately very hard to do. - I want to demonstrate that "discipline" (with all the facets) makes the difference. - I want to give valid recommendations regarding every aspect of trading. In this Thread I am focusing on Day Trading. My other Thread is about Futures Spread Trading. Good Trading! Andy Jordan
I will just start posting my trades with a few comments. Will work mainly with screen shots, this way I don't have to write so much. Little short trade in EU6 (very early, I normally don't trade this time). +$750
Tried to go long on ENQ. It moved higher on the report and honestly, I am always a bit afraid because these pushes might turn around often. Got long but changed my position to short. Only a small gain of $255. I chickened out too early.
Another little ENQ short trade. Got into this trade far to late and out too early. Shame on me! Really bad management. +$905
Getting in late because I was distracted. Out too early - chicken out! On the chart below you can see my normal entry level, first and second target on the trade.
I have noticed that a "bad decision" (chasing the trade) often results into more bad decisions. I usually try to avoid them but it is not always possible.
Everything out there is crap. Crap Galore. Buy one piece of crap, get the second piece of crap for half off. Crap Sale! No offense to anyone...who makes their living and existence selling crap. But just calling reality for what it is. Selling/teaching trading is similar to selling/teaching how to win in casinos. Although it may sound so crystal clear, obvious and intelligent in theory....it doesn't necessarily work and play out as people wish in real life. The Only person truly gaining and benefiting...is the Salesman in front of the camera. All those innocent buyers aren't buying a ticket to a better life...Fools, they are. I'm not saying trading isn't profitable though...it can certainly be tremendously profitable for the select few who have understood the game, the wisdom, the observation, the approach. But buying books, courses, on generic simple indicators are a complete joke. Don't you think by now....if those magical indicators truly worked....everyone would be so rich and happy in this world,