Attila

Ha!.. I wear brown shorts most of the time to hide all evidence of stains from "strained" trading.. Since the race is "over" here's to another 6 months, hopefully with less praying this time. Good to have you around..

Oops... that was the wrong statement and "statement".. Statement for 09/15

Think OR Swim costing me today..! endless freezing..

Ok here goes.. The new system is fundamentally similar.. Key differences are waiting for MUCH longer trendlines to develop AND fading the first reversal rather than immediately trading the break (I will have to say "bye" to some trades as a result). A valid change of day mood trendline has to have swings within it where stops have likely been set. I would rather have a system with a worst case scenario of not making money.. I don't know if this one is it but that is where I'd like to get to. Of course, how the goon behind the screen handles it is a BIG part of the equation. Statement for 09/16..

I am honored your first post on TL is to me;) Welcome to TL!.. That, my friend is a great question. Others have the answer.

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Yes. Basically I have decided I would rather have a system that trades pullbacks as such a system may not make a killing in strong trends but will at least avoid the psychologically damaging effects a choppy market can put a breakout/breakdown trader through. Plus no more over-trading and system trades only.. Fell off the horse a bit today but back on tomorrow.

Today's Journal.. Encouraging.. Good to see System very effective so far 10 (1 scratch) out of 11 winners.. Can't wait for a different environment (news) to see how it does. Reached 3 trade limit and quit..

Statement for 09/14........

As far as bias goes I am half-way there by not taking the long BUT waiting for the short. Time-Frame wise fully agree and as of last week I am down to a 3 minute chart with a slow ma representing the trend of the 15 minute. In the morning I mark in relevant S/R levels and during the day keep reminding myself as a day trader I need no additional information.

Today's Journal.. Clearly I have bias as I had no trouble taking the short while I found a reason to ignore the long signal.. 2 signals so far today, Yesterday 3, all worked (+7 pts if taken). REALLY should hold this for the planned 7 target... at target as I type.. Another issue to work on.. Ideally a long signal should be my exit but fear won't allow that. 1 trade and done...

So about that Long signal at 10:00am (NQ 1915) this morning... "Looking like a messy, slow day" was my excuse for not taking it. The more you ignore signals that turn out to be good, the more you think the next one will be the bad one that gets you... the good signal streak will end with the one you take. Watching near 20 points go without me but good to learn that I CAN move on.

Statement for 09/13....

Kiwi, I do have his book but haven't read it. Some have told me it is a slow read but changed their trading. No doubt interpreting psychology through bar recognition VERY important.. Will take a look... Thanks.

Today's Journal... Stuck to taking system trades only, or NO trades. Still fearful but felt I was in control to some extent. Done for the day.

Sharp eyes here.. Sub $500 accounts at Global can be extended more rope (at higher commission no less) should the trader elect to do so.. I did and they applied it retroactively. I am adamant not to re-fund this account. Once back over 2k it will revert to the lower rate.. Since I am no longer over-trading matters somewhat less. Thanks for noticing..

Statement for 09/10... It's darkest just before dawn.... or just before everything goes black..

That's cold Thales... Of course the former! Couldn't sneak that one by you... i.e. why I couldn't "afford" the stop. The key here is I went from praying I get my money back to "I want more" which is the core problem with undisciplined, small account traders with the "forced awareness" just a trade away. I WILL crossover...

Important for newbies... This is my morning.. Hope this is educational.. And by the way no mentor can save you from this, only you can... or not.. At least I didn't over-trade...

Statement for 09/08.........

Thanks Jands... Similar to what you suggested, I have begun today to limit my trades.. Index cards with 3 trade boxes.. Once they are all checked I am done (weight watchers). If I don't hold a trade long enough to do what it should and as a result I "run out of trades" I am done. There will be pain, but less pain in the long-term. To fight so hard against controls that CAN lead to unlimited profits is insanity. Thanks again..

Statement for 09/08.. Anytime there is a three page statement the result is a given. Bias, Top/Bottom picking, impatience, stupidity... etc. All can be resolved with a Repeatable trading system with proper money management.. So rather than saying "I won't over-trade" (you will do what you fear), find and stick to a system. I did well yesterday due to picking a top.. is that repeatable? Nope.. tried it today and it began my day badly. Also there is an opportunity cost to over-trading a small account. If you can't make money by Noon it is usually a slippery slope down from there on, wasting time better spent elsewhere. The clearest consistency in my good days is they always ended before lunch time. Apparently I have not suffered enough..

Yup.. It is one reason from time to time I have sworn off Forums.. You end up thinking like the herd if you are easily influenced.. the need to predict the future so strong yet futile. Remember Darvas did best when he was away from the all the noise of Wall Street. For a Daytrader even a daily chart can be a bad influence, encouraging predicting....

Statement for 09/07..... Probably could not have done better today.

Agree.. Long-Term TL on SPX likely to get touched again.. question is when?