Gabe2004

This starts to look like an Elitetrader type of 'thing' so I think it should end now before it goes completely out of hand. Gabe

Had a signal ealier that worked against me. Had one better later but i did not take it And now the 3rd signal. Gabe

50% retracement of GJ has been reached. Now if only I would trust stats more....... Next target would be 157.20 to the up side or 145.60 to the down side. I am betting on the down side. Gabe

We did 80% of the move in 1 week (about 100 pips to go). Too bad I did not listen to myself. Should have taken a long term position. Gabe

Thank you for your input and I think that even if we ask a specific person a question, others could and should chip in just to see different points of view. Gabe

Some thoughts after the trade. Gabe

I have posted a question in the chart. Thank you in advance for an explanation Gabe

One of my longest trades ever closed at a loss. 8 pips only. I am sure the Mr/Mrs Market are ganging up on me :o Gabe

:haha: :rofl: Gabe

HB thanks but I would not put myself in the group you mentioned (brownsfan, chris, thales ) not yet anyway but probably in 3-6 months. I cannot take out of my head the fact that Thales' doughter learned to trade in 1 month. It seemed that all the garbage that is out there about trading is clouding our judgement and messes up our head. I notice now that the bad trading habits are so deeply engrained in my brain that it seems that the way to succeed is not so much to learn the right way to trade but to remove the wrong way. It is almost like fixing a botched job in any field. It is easier and sometimes cheaper to start from scratch. Unfortunately we cannot erase what we have learned before. Gabe

Thanks hb but - It's a Long Way to Tipperary - As you have seen yesterday and my overnight trade were not in the direction I want to go but it is just a little bump. Gabe BTW I was stopped out on my UJ trade for a 10 pip loss. another BTW. My chart looks fuzzy but I don't know why. It is not a compressed image and it looks OK when view from the original on my computer. Any ideas? Actually I found that PAINT (the program I use to put the lines on the chart IS optimizing the picture to reduce it's size and thus the fuzzy picture, so I am switching to another program.

Update on the UJ trade. Going to sleep. Gabe

I like the colors Gabe

The only possible trade that I see right now is UJ. If I would have to bet I would say that the most likely direction is up. I have decided to take the trade. Gabe

Done From now on the grid is gone (it is also a rhyme) Thanks for pointing that out. Gabe

Lost some more ground Did not trust my signal and went against it then reversed only to be stopped out and eventually got on the right wave in the original direction. Gabe

Not a good day today. Must have had a relaps . Gabe

Could not find any posts by the above 2 names. Were they here in TL? Thanks Gabe

Thanks for the kind words Thales. This is just further proof for me that the nut is about to be cracked. The other day a friend of mine said that he is impressed with my conviction that I will master trading. FALURE IS NOT AN OPTION. Thanks again Gabe

Hello Thales. I don't understand the above. Could you elaborate a little? I thought that BOs are continuation pattern if looked upon in the smallest timeframe one trades in...... Thanks Gabe

I have the same problem. It seems to me that there are more reversals than breakouts and I have been hurt (financially by many BOs that did not pan out. My solution is to mainly look for reversals but keep part (1/3) of my entry position around potential BO areas just in case the BO occurs. Gabe

Actually because of my NO REASON TRADE I got down to 112 pips for the day and it reduced my average to just over 11 pips per unit, but this is still 4x as good as it was in late September (this is on a 100 trade moving average - a trade could be a partial exit of a position). Another thing that I a paying attention to is the size of my trade. I used to double up after a loss and even if I was uncertain about the odds of my trade I would go in with my standard size. No more (or atleast I am trying). When in doubt I reduce my position size to a minimum. I have doubled up only twice in recent days. Once when I was profitable and once when I was not but I was convinced that my setup was valid but I may have entered too early. Both cases worked out in my favour. Overall there is a definite improvement in my trading but I would have to wait about 4 months to be certain since I had twice in the past positive runs lasting 3 months after which I gave back all my profits and then some. The difference now is that I have a trading plan and I am fully devoted to my success in this field. Gabe

The same as you would do in live feed trading (even if it is sim only). Apply your trading plan to what you see. Gabe

I think that using a simulator like NinjaTrader would be most beneficial and will allow you to gain valueable screen time in an accelerated fashion, while giving you feedback by the realistic results you can obtain from real life like trading. Gabe

It hurts more now to see how ignorant i was then but I was busy with my business and didn't pay much attention to small losses. Now that I have decided that this is what i want to do, it's a different matter alltogether. The problem with trading is that we as humans have a special relationship with money. That is why we are reluctant to pay to study how to make it in trading and that is there are so many people who have no clue who try to teach others how to trade. I doubt thta this will change but fortunately there are successful people around who are willing to share their wisdom and experience. One just has to spend time and find those people and read their posts and practice, practice and practice more. SCREEN TIME . I did not invent this but it is the only way.. It is funny that people think (and I did too) that trading is easy and it is going to make us rich with hardly any effort. It is far from it but then what proffesion is there that you can master in a short time and make a fortune with it? - There is no such profession. Read about the 10,000 hour idea to master anything. According to other people I was good at what i did (after college) and calculating how much time it took me to master what I did - low and behold - 10,000 hours and I went through 2 such cycles so far. Trading will be the 3rd one and it does not seem to be any different than the previous two. It was just ignorance and arrogance that led me to believe that I can do it better and faster than most people. It is a humbling and frustrating experience. I am not where I want to be (prefectionist, you know ) but I am very close. I like to call trading THE NEXT NUT THAT I HAVE TO CRACK. Take care Gabe