TradeRunner

I would summarise DB's "plan" post like this: 1. Stop trading 2. Observe price 3. Notice repeatable behaviour 4. Write plan base on (3) 5. Test plan 6. Make adjustments 7. Trade plan Is this what you have done?

You're so funny Steve!

DB, nice to see a new thread whose aim is to help traders become better traders - a rarity on TL at the moment! Here is a question for you There is a balancing act here between when you give a trade time to work and other times just get out. Here is the 1 minute chart with the two shorts supply lines drawn in: and a 1 second chart with same entries and lines: Can you go into more detail on why in the first short you do not hesitate but the second short is given more time? Are you poised on the buy button before the supply line is broken on the first trade because price fails to break 2812.25 several times? Would you mind adding a mark where you would have hit the buy button on the 1 second chart? TradeRunner Re the first short, price doesn't do what's expected, even though it has at least two minutes to do so. If it were a good short, it wouldn't be hanging around at that level for two minutes before reversing and breaking the supply line. And there's also the fact that one is underwater as soon as the trade is executed. What a beginner feels at that time is not conducive to clear thinking. And even though your 1s chart shows a probably coincidental pause at your line (the market can't know what lines you've drawn), price doesn't waste any time pushing north. Re the second short, however, you're in a more comfortable position when price hesitates, plus you've had a series of lower highs and lower lows. And when price breaks through the line, it retreats immediately. On a 1m chart, this shows a "close" in the middle of the bar. As for showing the "buy" on the 1s chart, I assume you mean the cover. And no, I really can't as that would be pure conjecture as I wasn't watching the 1s chart. But, again, the key question isn't where to exit the short but that price isn't falling. An equally legitimate choice would be to exit before the supply line is even broken. Price is in effect waving a flag and saying Yo, I'm not going down, fool, I'm going up.

Aren't you bored flogging this dead horse? You don't use charts - message received and understood. Thanks for telling us (again).

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what if % profit? % of what?

Failed to breach .............................................

I don't use the information in the DOM and there are probably more knowledgeable people that should answer.... There are two prices best offer and best bid 1583.25 and 1583 in this case The DOM only shows limit orders Limit orders (patient traders) do not move the price Market order (impatient traders) move the market are not shown on the DOM but their trades will appear in T&S In you example there were more buy market orders and they chewed through the 454 limit orders so price moved up.

Optiontimer doesn't either I think this thread segues nicely into the Wyckoff forum and "Reading charts in realtime" thread.

Did you see this post? http://www.traderslaboratory.com/forums/trading-psychology/10158-optiontimers-project-45.html#post126936

What step would you start at in the juggling example?

So you would start at step 4 or 5?

If I wanted to juggle chain saws this is how I would do it 1. Learn with balls 2. Learn with clubs 3. Learn with chain saws without the chain 4. Learn with chain saws that are not started 5. Learn with chain saws that are running 3 is analogous to sim trading 4 is analogous to trading 1 contract with real money 5 is analogous to trading appropriate size with real money What is wrong with this analogy? Why is trading different?

So if his ambition was to learn how to juggle chain saws then I assume your advice would be to dive straight in with the chain saws rather than starting with balls or clubs?