No not directed at you Volente. Some people just shoot down success, because of jealousy, or because they just can't stand seeing someone else do well. Damn, if I was 25, or 35 and doing okay, and I see this 18 year old come up and make a lot of money. You can bet I'd be jealous. That isn't a lie, because I got jealous when there were 13 and 14 year olds programming when I started at around 17. It's just human nature. Again, I'll just have to wait and show my journal. I will resume posting charts like I did so long ago, and always post my blotter for everyone to see everything. I have nothing to hide, I have nothing to lie about and nothing to gain from doing it. So, it will be interesting. Just figured I'd share some information that today would have "and is" my first 1,000 plus day, and all i need is to get my ass out of school and do it, and emotions are no issue. The Disciplined Trader helped me eliminate emotions, and I don't care, it's not about the money, it's about the trading. At least that is how I view it. Good trading to all.
I disagree, you can condition your mind to separate emotion from money over time. When you do this there is no difference. I view trading YM as playing a video game where I am just trying to get points, not make money on the trade.
Hehe, that is funny, because I love playing the video games, specifically strategy games and the business simulators and such. I had always wondered if this had any effect on my trading, or if someone that is more interested in that stuff is quicker to react or something. That would be an interesting study. PAC-MAN rules all though But really though, I don't feel any different when trading real money than I do paper-trade. I actually enjoy live trading because it helps me avoid hitting that "fast forward" button and it gives me amazing amount of time to figure out support and resistance. I just really don't feel any different. I just approach it with the "I don't care" attitude, and just do it. If the trade doesn't work, that is alright, because I have as many Continue's as I want as long as I still have the quarters to feed the machine.
you can condition your mind all you want with paper trading but the real conditioning would be when you actually trade with your own money. BUT - I'm not stating that is a true statement for all people. That's my take on things and obviously, people will disagree. At any rate, let us know how real money trading goes, Jmow. Lotsa luck to you!
jmowery why would anyone be jeoulous? if you make 10 killiona year would go is that for me? after 15 years i take everything i hear with a grain of salt and do the best i can. THE ENEMY IN THIS GAME IS NOT THE OTHER TRADER DOING BETTER OR WORSE THAN YOU ITS YOURSELF. YOU MSUT CONQUER YOUR FEARS AND FLAWS TO SUCEED IN TRADING. BE EMOTIONLESS AND LIKE AN ASSASAIN WETHER YOU'RE UP OR DOWN 5K
I try.... i seriously don't care about the money though. Right now, I'm so young. I just want to trade, and not worry about money. As long as I don't become in a situation where I have to "Trade or Die" type thing, I'll just keep trading with that "I don't care attitude", and it seems to work out. Because when I first started, I used to always wait, or question trades, miss out on the good ones, and then doubt the others and usually take those. I just read a few books on how to fix this, and I just said screw it. First instinct.......... first thought. Execute it, and let it work itself. As in the nike crap: JUST DO IT! But seriously, I have an amazing thing with catching reverses in the market. I have been studying reversals on the charts every night, maybe do it for 2 hours a night, and it has paid off. I think this is the reason why I'm drawn to more active trading so I can capitalize on the trades in the middle of the bigger picture. I would like to have 2 accounts, one for trading more actively, and another for a less active trading role, possibly holding positions overnight as well. I just have to wait and see. And as to being jealous. I am not saying you specifically. But it is amazing how many people are jealous of others. It isn't even bad in here compared to other traders in other forums, or other threads on here. I just take notice in it a lot and just wonder what makes someone be jealous of another. I just don't like jealousy, I think it is another reason trading appeals to me. It doesn't matter what someone else does. I can do it better! At least it is possible. So as long as I can possibly do it better, there is no worry of being jealous of something you can't have, because with hard work, you can have whatever you want. Again, I just want to make enough money to keep me trading as long as possible. If something happens, I'll have to get a job. I said this before. By May - June of next year, if I am still here, you will know I will be here for awhile. If not, then I obviously didn't perform well, didn't perform well enough that I needed to, or just sucked, and in which case I take what everyone has said here and use it to better myself. But majority of it just makes me work harder, so that is why, even though I get ticked, it just makes the determination to work more. So it is all good either way. And again, I love the challenge, because the only thing I'm competing against is myself. If I don't get emotional, I make money, and if I'm right, I reap the rewards, if not, then I don't win. Simple as that.
P&L - I post my trade in real time in my journal. Jmowery, If you think you can trade You can either come to trade in #emini (public channel) on the financialchat where I trade. Or post in real time . Because really, You don't know how to trade yet. You might later, but Quite a lot of people here are experienced and they can see you failing for the time being (probably at least 8-12 months) because you really have no experience regardless of whatever you are blabbing about. You may be 13 , or 10 I don't care, but I know your trading strategy and good luck, you'll be tweaking that POS for a long time until you are relatively consistently profitable. You notice I'm not attacking you, I'm just attacking your ideas, and your ideas are wrong. Being all enthusasitic about wrong ideas won't help the cause either Being enthuasiastic about the right ones will make you millions.
So, Volente's system is POS, anyone who trades support and resistance, is horrible. Coolweb, you are a dumbass for what you just said. I'm going to personally attack you and say, you are full of shit. I guess since I have to "tweak" my system, I guess it is wrong. But your system never has to be "tweaked". WTF Cocky bastard.
Can anyone be smart and tell me what the hell is wrong with Coolweb's post. I already said everything coolweb is doing in my previous posts. Oh yeah, to anyone who wants to be inspired: http://www.pbs.org/itvs/openoutcry/ Get the video, I watched it for the last time last night, sending it back to my mentor.
\ I never said you can achive that level through papertrading. I do not think you can. An old trader friend of mine once told me, so you want to be a day trader? Stand over a fire and start dropping hundred dollar bills into it one at a time. If you do it long enough and have enough money, you will one day get to a point where those hundreds burning mean nothing to you emotionally once you realized money is just a tool to run a business. If you get to that point, then you are ready to trade, if not then be prepared to join the majority.The problem is we are naturally conditioned that money means security, when you are poor you are sad, when you hit a lick you are happy.