Dinerotrader

I always appreciate yours as well as anyone's comments. I'm am here to learn, period. I rarely catch reversals since price normally hits resistance and falls back down very quickly. This was a rare occasion that I actually was watching and was able to act. IMO, you can't normally watch price action before entering these reversals since price normally reverses back and the trade is gone in a matter of seconds. However, I should have moved my stop within a couple cents of my short once price started retesting resistance and trailed it closely which would have brought me a profit on this one. If you look at the past reversals of this stock you'll see that the tests of resistance were quick and the reversal was immediate. I am still looking forward to trading breakouts once daylight savings time changes. Right now I am commuting during that prime time.

BEE -0.06/share or -1.5% YRCW -0.06/share or -2.3% Frustrating day.

Got stopped out exactly at my stop out price which also happed earlier today so the emotions are a little higher right now. I'll work on that. I should have cut it loose at the pullback for a small profit since price didn't act as seems best for a reversal. The previous reversals all just touched the resistance and headed back on down. This one retested several times and then pulled back slightly to regain some steam. Some more paid for education.

I am short at this resistance point hoping for a pullback. The PA is making concerned. I would think a quicker pullback would have occured but there seems to be some steam behind this push upward.

That counts as a "blow up" also. Please share your story. I agree with your comments. The thing surprising to me is that I have heard these stories from very good traders that don't appear to be your average retail traders.

I often read about a trader blowing up their account and I haven't seen a dedicated thread which could collect some experiences of this to help us all avoid it or embrace it if its occurrence is simply part of the path to success. I would say blowing up an account normally means that you account lost enough value that you couldn’t trade because of insufficient funds. It also, could mean your account going to zero. I wish I had a good story to start things off but I am new enough at this that I haven't yet earned my account depletion star. My hope would be to avoid this part of the path to success however, that seems highly unlikely given how many good traders have had to pay this price for their education. Please indicate if you believe your experience was necessary to progress or if you think you could have avoided it and still made the same progress. If it could have been avoided, please note how. Let’s see if we can accumulate a few reminiscences of account explosions before the debate and personal theories take over. This could easily become a great “sticky” thread for new traders and experienced traders to learn from. Don't hold back or be ashamed. These experiences are like Rambo’s scars, a badge of honor, the trader’s diploma…… When did it happen What led to it happening Could it have been avoided (without the 20/20 vision of hindsight through which you now see)

Given price bounced right off that prior R level, I would try to play breakout at this point. We'll watch and see.

I posted that chart and then wasn't by a computer for a little while. I posted where things are at right now below. Since this is such a large time frame I wouldn't trade off of it but it seems to big me big picture ideas on price on a smaller level. Since it has bounced off of of that level so many times it would seem statistics are on your side in playing a reversals. You would hope price action will tell you more about what is likely to happen once it arrives in that area. Being at the top of this range, I would probably lean towards playing reversals when lower lows are made. At this stage my instinct is to also comtemplate the fundamentals of what drove the price down back on Sept. 25-27 and consider if there is any reasons we should see a move back up to that point. Those are my thoughts.

Coming up on some good resistance. Either a reversal or breakout? I count 6 times that price reversed from that area.

Please post the stock charts. I am very interested. I should trade some pork bellies so I can tell people I am a professional bacon trader. That would be awesome.

87 ares looks like significant support. I might put in a buy right above 87 in case it dips down to that level briefly and comes back up. A tight stop of course below 87. This was my first day looking at forex on freestockcharts. Nice to have it all in one place with the stocks.

Stop was hit at 25.1 and filled at 25.12. Ended up +0.07 on the trade. Not a good time of the day to trade but that what I had to work with today. I was calm throughout the trade without having to think about being calm so that was good. I know most here don't watch stocks so hopefully I didn't take up too much space. I'll try to get some futures posts soon.

Update: Trailing pretty closely.

here we are now. Bought in at 25.05 with stop at 24.93 right now.

Here is one I am watching. I am not sure about how confident I am trading pennants but... Looking for a breakout either way.

Getting to the computer to find out if you made or lost money in the morning would certainly get me out of bed. I might have to try that out.

It seems like I have heard lots about lots of studies done mostly with children that show significant improvements in attention, logic, and memory function in subjects that ate reasonable breakfast meals. I probably need to do some more research to figure out what foods I should be eating before sitting down in front the screen hoping to make accurate split second choices on trades involving lots of money. At a point where you are challenging your brain to absorb limitless facts and info, find pattern in chaos, recall prior learning, and then return an answer of "buy" or "wait", this is really pushing your own brain's power to its limits. :missy:

:rofl: I am also on the Left Coast so I am usually drinking a protein shake right at market open. Bunny Slippers.... That is probably what is keeping my P/L down. I am going out to Walmart right now buy some. Thanks.

Stock: MEE -$0.16 or -0.5% I don't like trading late in the day at all but I haven't gotten many trades in lately so I tried this one out and stopped out. This the best I can do for a blotter right now.

I was just curious what other traders eat while they trade. I am in the habit of eating pre-shelled sunflower seeds. It doesn't take my attention at all but it keeps me from feeling like I am bored while not in a trade. It also seems to make the time at the screen more enjoyable. Dinero

Just one trade today. GVA +$0.45/share or 1.5% so far. I didn't get the position closed out before the close of the day so we'll see what tomorrow brings. I will try to start posting some kind of blotter.

This thread isn't really for people like MM. Most of us are past questioning each other's trading ability and just having useful interaction. Below are the reasons for posting here as Brownfan said. Stick with those and don't worry about protecting other traders from reading this thread or worrying about how many losses anyone is posting. There is a good "ignore function" on this forum so you don't have to worry about the daily postings here. Now back to the P/L thread. Reasons to post here: FOR YOU Create a place where you are accountable Get feedback on your trades, progress, etc If you do want to post charts, you will probably get feedback on these as well Occasionally you'll get a PM from a new person that says 'Thanks, you've give me some ideas or given me drive to do this' FOR OTHERS Show those new to trading it can in fact be done Show that there's many ways to make money in trading (by seeing a variety of blotters from people posting here)

Brownsfan, I was looking at the Corn futures on a 30 tick chart. Is that what you would recommend. I included the early morning move on 9-30 below. Do you have any other ideas for trading these commodities profitably in the early part of the session? What time frame do you usually restrict your trading on these like you do with the ES?

Oops. Sorry about that.

I am certainly a major student of Thales. It is because of his posts that I came to consider this idea. I see that you agree with my my only real issue with this stategy which is consolidation around S/R. This is certainly the downside. The next questions are: - How often will that consolidatiion take place? - Is there a way to anticipate whether or not there will be consolidation at S/R so I can skip on that particular trade? I certainly would not buy and sell multiple times. It would be a one time shot. Thanks for your post.