This is the 1 type of trade that i really really struggle with!! Always wind me up and fuks me off when this happens!! But so can someone please tell me what pyschology do you have to get in your mind to hold trades like this as the spike into profit in nearly vertical lines, of 100+ points in under 30seconds... http://www.elitetrader.com/vb/showthread.php?s=&threadid=134046&perpage=6&pagenumber=823 (Ive put chart of the trade at the link of my journal).
Damn!.....the guy has been here three days. I can't make up my mind whether he's a wise guy, a smart ass, a know-it-all, a psuedo-intellectual, a journalism student......
LOL Mate im not sure about your trading history and how many 100% profit weeks you have been able to consistently do since you started trading, but from what you ahve said about the use of EYES in trading its clear you have ALOT of learning to do, and are not able to answer the specific question that i wanted to be answered! (I didnt start a thread called ''Please come in here and lecture me about your style of trading the n post some old trading cliches for me to read''!) A word of advice for you, although sadly you are too arrogant and pompous to actually listen to it but i will try and help you anyways.. 'Trade with your eyes, not your brain!' Seriously, you eyes are the most important thing in trading and ALL you need to trade. All your brain will do is add extra thoughs and emotions to unsettle you. And im not sure what your harping on about rules fo as i dont see how its in anyway a relevant answer to what i actually asked... lol The ONLY rule you need in trading is EXTREME PATIENCE. Theres no rule that you can discipline yourself with that will stop you wnating to cahs in a trade when the market moves like that.
And yep its 823pages and counting!! Theres also a thread on t2w.com (the uk version of elite trader), where there is a 106pages thread about me, titled ''spanish89''. My thread on here is extremely long now, but its obviously very poular and liked still as elite trader have given it priority status as 1 of their sublinks when you google search 'elite trader'. Its a very inspiring and motivational read for anyone who is feeling lost or struggling in making money trading.
1) You're priding yourself on irrelevant things, unless you're a journalist/writer/diarist/blogger. 2) It's so much easier just to get out "at the market" and not slog through (823+106) 929 pages of basura. Then again, some people prefer to do things the "hard way".
You don't understand what type of trader this guy is. He tries to make a living off 2k. He in no way has the ability to relate to a disciplined and logical strategy most successful traders use. I am not saying he has no chance of being a successful trader its just that his chances are very very slim because even if he made 30k off 2k in a week the chances of losing that is huge.
2) It's so much easier just to get out "at the market" and not slog through (823+106) 929 pages of basura. ----------------------- I had to google "basura". Feel free to send me an application to your fan club.
I dont ''try'' and make a living from 2k capital mate, its simply what i physically did do consistently for 8months... (I dont have a few thousand or even a few hundred quid tucked away safely in a bank account somewhere, and so just trade with money that i can afford to lose like other people do). The money that i have as my capital is all that i have in the world, i dont earn over £1,000 profit per month from it cant eat and would become homeless.., simple as that. And while it is extremely stressful having such high levels of pressure on constantly everyday, that is the reason why i consistently kept making so much money everyday. As i didnt 'want to', i simpply couldnt afford not too though of id basically have endedup starving to death! :/ I didnt make 30k profit in 1week either, you know me, i hate leaving profitable trades to run for more than 90ticks, so always have a pyschological limit on my profit per market move each day. Took me just over 5months of grueling hard work, (doing 16-20hours days everydays without food breaks or any of that nonsense), to turn my £759 capital into making total of £30,000 profit overall. And if you are interested in my method of trading mate please checkout the topic that made especially to clearly explain it... http://www.elitetrader.com/vb/showthread.php?s=&threadid=152873 1day you will realise that huge stacks of indictors and mathematic equations are simply all a load of crap, they dont actually do anything at all. lol You cant ''formulate or calculate'' your way into very good trades. If you want to become successful at consistently making money you have to learn PATIENCE and PRICE-ACTION.