TinGull

I trust you meant you went short right?

They call 'em "late to the party charlies" Don't wanna be caught as one of them.

Again, I see a 2 bar reversal up there. You shorted after a 50 point move already happened. I would say you're definitely getting in late on most all of your trades.

Couple trades I see with your 1250 VBC chart.

sure does...100 point move in 10 minutes? Jeesh.

Just a nice little PERFECT candle setup on the ol' 5min YM. Just wanted to share.

Thanks James.

It hasn't moved to ICE yet...next month it will.

Nice work Special Ed. Look forward to it.

Exercising the patience you're talking about would be easier watching a longer time frame chart that you are currently watching. A 1250 VBC chart would be around a 2-3min chart during regular market conditions. During these volatile conditions you're watching candles form around every 20-30 seconds at times. So, there's a conflict there. If you want to be more patient and NOT make 13 trades a day, then you need to watch a higher time frame. If you're liking what VBC charts show you, then watch a 2500-5000 VBC chart. Going with the trend doesn't mean taking both shorts and longs right after another. It means realizing what an anchor time frame is showing you for an overall trend and trading in accordance to that for the higher probability trades. If, on a 15min chart, you are getting lower highs and lower lows, the high odds trades will be to the downside. You may get a mini trend that goes up, but realize that's a counter trend trade and should be treated as a scalp trade and position size should be reduced and your profit expectancy should be reduced as well. You are using volume automatically if you use VBC charts. Multiple time frames help, but don't use ones that are too far out for what you're wanting to trade. For example...want to take trades based on a 5min chart? Weekly charts aren't going to do you any good. Daily charts are ok, IMO, but that's as long as I'd look. For me, I trade a 5min chart, and look only as far as a 65min chart, and even that I don't look at often. The longest time frame I pay close attention to is a 30min chart, then a 15 and then my 5min. So, be careful with what time frames you watch. Again, a 5min chart should be followed with a 15min and a 30min, IMO. Anything longer is going to cloud your mind I believe. That is why you need a PLAN! You don't have one yet so every trade you do take is impulsive. You need to find some setups that sing to you. Whether it be trading candle patterns on a VBC chart or trading an opening range breakout or fading pivot points...you need to devise something that works for you and stick to it. Only after that will you be able to fulfill this goal. IMO, this is the worst way to go about it. Every trade you're making is an impulsive trade. You're "teaching" your subconscious mind that is OK to make impulsive trades. Some you'll win, some you'll lose...either way your mind is going to associate impulsive trades with something that is supposed to happen. Just muscle memory, really. You're welcome

Perfect analysis of my statement. That's the whole reason I want Abe to look over what he's been doing, as there hasn't been anything consistent. Maybe, Abe, you can look at your winning trades that you've shot off and see if there have been consistencies in those trades. I can't find any....but maybe there is something there. Would be worth it to look. The losers...find out why they were losers and stop doing that. Find something that clicks with you and stick to it. Develop a plan and stick to that. If you need help designing a winning plan, I'd suggest looking to a trading coach for that. lrushing on the boards here from tradingeveryday.com (a sponsor of the boards) is wonderful with that. He really held me accountable for my plan and whether he means to or not...it guilted me into sticking to it for fear of having to fess up to him. Definitely worth looking into. It'll save you money and heartache.

Abe, you know what would be good...you should write out a list of the things you've learned so far about your trading methodology. What have you found that is working and what isn't working? So far as I can tell, there isn't much of a methodology and it seems like you're slinging trades left and right. 13 trades a day is quite a bit for a beginner, IMO. I would be more looking at 2-3 high probability trades per day. Then start getting into something a little more intense.

Just a thought from li'l ol me...

I tried Sierra a while back, and it was really tough for me to get a handle on with all the acronyms for all the chart features. Granted, I use a simple chart setup, as well, but something just didn't click with me and Sierra. It seemed a bit too clunky for me. Now, the charting package is cheap as hell, which is nice...but I use a Mac for all my stuff and am used to things that look fabulous. MC, to me, looks like it would look awesome and easy to use. I do use Parallels on my Mac to access Windows for my execution via TransAct. I wanted to find something that I could use that feed with to cut down on expenses...but really nothing came close to doing what InvestorRT does for me in terms of ease of use and slickness of the look. When I'm staring at something for 8 hours a day, it needs to be easy on my eyes.

should be up there now, sorry.

Just a note for one of your trades. Often, you're getting in late on a move. See the notes I've made. Volume is your best friend, more so than price is to me. Price is...ok... but volume is going to be my best man if I ever get married. HAHA

Are you talkin' some weird pig latin there Reaver?

Abe, do you have a drawdown rule in your trading plan? Like you can only lose so many points or $ before you shut down for the day? I have a daily loss limit in place thats there to tell me I'm not i sync with the market that day. Whats yours? Cause you exceed what mine is quite often.

Waiting for the close of a candle was one of the biggest things I ever learned. Simple enough, but amazingly powerful.

And Im not trying to be an ass, just trying to save you the headaches from dealing with the cheerleaders

Bullish tone from CNBC. If you had not been watching CNBC would you have been prone to take that trade and lose? Thats the question to ask yourself.

Abe, you said that the REASON for your first trade was because of CNBC. That's using it in your trading, and that's NOT good.

Abe, you seriously need to heed the advice of the professional traders on the board and turn that TV off man. By the time the media gets wind of something and then conveys it to you...it's too late. You need to learn to make your own decisions and not rely on some hot chick or balding fat dude to give you the trade. It's wrong on so many levels.

Linnsoft has a fabulous MP feature for Investor/RT. Its a 20 dollar a month add on, but was very well worth it for me.

Hey Chris, You answered your own question. The only way to really learn is to make the mistake yourself. Seeing someone else make the mistake you're wanting to avoid isn't going to help you at all. You've learned this month what will happen if you deviate, and all successful traders have had to learn that lesson. It sucks, yea, but its a very important lesson to be successful.