I've been following the biorythm at http://www.bio-chart.com/ for a month or two. I was having an awful time with some coding until the day the intellectual cycle went positive recently and then the juices seemed to start flowing again over a couple of days. Things actually became so easy when before they seemed impossible. My partner suggested that I code when the intellectual biorythm is good and read books on trading when it is not, seems like a very good idea at this point. If I was trading actively every day I might trade a strict system when the brain was not doing so well and allow a little more discretion when it was. Good luck with all your trading.
Like I said, I followed it for a couple of months, it seems to make a framework for me, what else do I need to know? Your opinion on it?? Probably worth about what I pay for it.
I havent read all the other threads so forgive me if this has been covered. What is your plan? If you have a plan and are sticking to it, then something is wrong with the plan. If you dont have a plan, that is the problem.
I will say this: Don't give up your system yet! A lot of other good posts in here -- but, I have to say, the last 12-days have been WACKO! You aren't the only one making wrong choices. I don't think it's your system that's wrong or your trading (Don't know your system -- but, nothing worked well here). SADDAM is captured, we gap a $1 on QQQ and give it back -- and then some? Who would've played that scenario? There has been some nice scalping (.10-.20 stuff) -- but, anything on the 15-60-D chart seemed to be bull/bear traps. With options expiration this week, things should start looking up starting Monday. (Maybe today if this rally can hold / continue). But, we still have some resistance to break on the COMPQ before these selloffs stop happening. Play small until we hold 2K or lose 1920ish on COMPQ. Good luck with it!
I think the best thing to do when struugling is to take a step back and re-evaluate. Most of the times when I start trading poorly it is because i have too many things on my mind. It usually takes a string of losing weeks before i realize that i have lost focus and lost the edge. Once I realize this, I take time off from trading. But I will actually come in and watch the market. the market seems to look alot clearer when there is no money on the line. It is during these times that I am able to pick the market turns very effectively. The discipline that it takes to sit there and not to trade is actually the discipline that rewards me when I return to trading. When I return, I am much more patient and able to wait for the high probability trades
Loosing Streak officially over, ended up today. Thank you all for the encouragement and advice.. I feel that the collective insight this community offers is priceless, and had a lot to do with my frame of mind and performance today. The monkey is finally off my back. Interesting link on biorhythms. Thanks again..
Kudos to you Chaos and just a sidenote...this thread is the reason ET still has some value...a real need brought to the community by a trader, some real replies given, a positive vibe throughout and a positive end result....its exactly what a "community" of traders helping each other should be like, nice job people Happy holidays and Profitable 2004s all around!