firewalker

Yeah! Know what you mean there... I need extra hands to count the times I said to myself "turn the screen off now". And then you end up with giving back half the profits made or worse :crap:

I don't do fixed targets anymore, the market is dynamic, so I need to adjust. By aiming at +40 or +50 for example, I've found the market can turn at +39 (leaving me with nothing) or it can go to +200 leaving me with "hey why did I chicken out?" Most of the time I use important S/R levels as targets. Like yesterday: 365'ish...

You don't need to tell me! Because I moved my stop to breakeven +1 instead of breakeven I missed out on a huge fall :doh: Shared misery...

Analysis in my blog.

Perhaps that's a better way of handling the frustration than what I do (banging my head against the wall). Although both actions have a similar outcome: a great headache

Good question. Mine is: Trade less and don't enter trades during lunchtime hours.

When you read this, keep in mind it's written at the end of February last year, just when we had that correction. http://longorshortcapital.com/the-market-she-is-a-bitch.htm

Completely agree there. I'll start by filling in the blanks for me: W/L > 60-70%, which I know I can get up to 75-80 easily if I focus on the best opportunities, but I still feel the 'need' to put on a trade sometimes Risk/reward > stopped calculating that, because some of my trades have 10 point stops and exit with 90 points... Average number of trades per day > 2 to 3 per instrument What do you do if you take a big loss one day...have a break? > bang my head against the wall! I have very tight stops, so usually no big losses on any single trade. If I lose discipline, I usually put on too many trades and end up with enough loss to make me feel shit though (not because of the loss, but because the lack of self-control) How do you measure/ monitor profit? > absolute profits don't mean anything... so I look at % of my account > I usually keep statistics of 20 trading days, it's easy to compare and it's usually one calendar month give or take a day

Taz, interesting suggestion. But I'd have to go with Soultrader and Dinos. I've used Skype before but I've found it a bit of a hassle with all the windows and so. I do like the kind of chatroom TL provides (on top of this page), because you can just have it open in a separate tab in Firefox and close it or click elsewhere if you don't want to follow. I posted several live trades there, yesterday one as well. It's as close as it gets to live imo. I think audio would be too distracting. I can't even listen to radio or music when I'm looking for a trade to be honest. When I'm in a trade and have a portion scaled out and my stop moved to breakeven, I do tend to relax more. But whatever works for you

Well done... :thumbs up: Here's some more oil news.. http://www.guardian.co.uk/business/2008/jun/03/commodities?gusrc=rss&feed=networkfront

btw, is that the QM Crude oil you are trading? Looks like you're back in profit, I have it at 123.47 right now

That's a ridiculously low price. And I thought I did a hell of a deal when I bought a distressed copy of Stock Market Technique for just $6.48... Found the above collection on Ebay as well: "You are buying from the editor/publisher himself"... so I think there's more than just one available... Note: the $6.95 says "new", not used. Even more amazing :shocked:

a good exit is the low of yesterday

Google finally offers free real-time Stock Quotes

hi Dinos, good luck on the trade. It seems common to take my exits as entries

This has got to be my best day in terms of calls, and the most depressing day in terms of net profits. I said short 550 before the market opened and then 365 couple of hours ago. Net result: zilch :crap:

coming your way...

365 please

510 now I should let someone else manage the execution. :crap:

and I'll probably be banging my head against the wall for not taking it! needed a limit order though, just touched 551 for a split second

550 yes, but shorting after it just went up 50 points in no time and reversed the initial 30 minutes? so staying flat...

out at breakeven :\

damn mate, feel sorry for you, that's harsh indeed! I know you suffered the same fate on the other site as well perhaps you ought to use stops 2-3 points wider than what you post here my issue that I'm always picking the wrong market to short from 550 was my YM entry, but we didn't get there, but NQ 2017 was valid meanwhile YM is down 50 points but NQ is at 2014

NQ short 2017 stop 2019.

The plan is to short 550 on a rejection...