Attila

I have received a few PM's asking what changed from the peak of my Equity chart.... The market became very choppy killing the breakout system I was using. The markets are better again now but the psychological cost (confidence) during that chop was quite high. So the answer is the markets changed and I wasn't smart enough to trades less or not at all. I was trying to keep making hay when it was no longer sunny. I was made before, therefore can be made again. Hopefully those twin peaks will look like pebbles someday..

Statement for 09/03 Thursday and Friday are days to be repeated as often as possible simply because I was in control. I did what I intended and nothing else. Controlling what I feel about what was left behind may never happen but learning to accept what is and moving on is key to my growth as a trader. Seeing an equity chart such as mine hopefully reminds me of what I can do as a trader but must block out the second half of it.

Statement for 09/02.. Licking wounds day. Can barely afford a stop.

Statement for 09/01... Until I regain (gain?) self control it's nearly hopeless.

I want to be like you when I grow up.. Believe me all you may be missing is more losses.

Statement for 08/31.. Let me get over the usual.. OVERTRADING IS A KILLER.. The only thing worse than the price action yesterday is how I traded it. I allowed 3 over 7 point profits become scratch/small losses. This is the perfectionist in me not wanting to be wrong as I unfortunately see my relationship the market as VARYING LEVELS OF ERRORS.. i.e. I will be wrong all the time, even when I am right. This is a very difficult thing to deal with when you are a rear view mirror trader. Soooo, just stop doing these wrong things right?... Next point.. I posted a little "slow Learner" chart yesterday day.. need to refine that a bit... On an entry time frame that is the BEST thing to do, in my hallowed opinion. On the other hand if due to liquor or other issues you must, DO NOT give away your stop... The price WILL get to that S/R price.. Since it's a trade you shouldn't be taking, absolutely take it on your terms.. As if you actually do not want the trade. I repeat, price will get there so getting in early is usually a waste of your stop money... The odds of 1855 holding were VERY high so I took the trade.. poorly.. Went long 1859 and such a small account cannot afford a 5+ NQ stop. Stopped out at 1855 and 1854.5 was the low. The pain of this trade... (This mental state carried through the day) The point is If I was going to fade, buy no higher than 1855.5 as the price WILL get to the price level.. If it doesn't, FINE!. Another way to put this is place your order where you originally planned to put your stop IF FADING as they will come to get you. The greed/fear button is usually pressed as hard as possible till those suffering puke their positions. Now ekshay.. let's cry together.. glad to have you around and hopefully we are around longer. At least you traded less than I and are better funded to withstand these losses:) Move forward!

Slow learner.....:crap::crap:

Statement for 08/30.. Strange day.. Didn't make or lose a lot but was very relaxed and not much fighting what I saw...

Statement for 08/27.. As I mentioned to ekshay I have learned how to not kill the account.. Now have to learn not to do the one thing I do 99% of the time: As soon as I am in a profitable trade, I IMMEDIATELY move my target sell IN, REDUCING my profit.. (Sold a 1872.5 long for 2 points just as the move up resumed) Basically due to fear, I am trying to minimize my time in the markets, during which I can be hurt by the markets. May be time to re-read The Disciplined Trader. Markets hurt the UN-disciplined, so what to do to avoid being hurt? Markets REWARD discipline. All assuming a viable system with proper money management of course. The fear well founded though... imagine trading a 100k account with 100 NQ contracts. Both blowouts (and risk/stupidity levels) if they happen don't feel very different. Still VERY optimistic. My "Uncle" point still a year (or blowout.. will not re-fund) from my start date.

ekshay, Amazing how we get attached to our Internet Characters.. you'll be making a fool out of ekshay, not you:) Looks like you have reached my level on your trading which is STAY ALIVE, now WE move on!! Looking forward to your return.. Maybe competition will help me??

Statement for 08/26.....

Very good question... 1. My personal financial/work life has greatly declined. To say I am distracted lately is an understatement. Sometime in the future I will fill in the blanks here. 2. I now trade with a bias - some dislike for the markets for frequently manipulating newbies... The so called discounting mechanism idea is crap to me. The shorter the time frame, greater the manipulation. I knew all this coming to the table so not accepting it is futile. As MM mentioned, I now to some degree expect the markets to do something to me. Now I need to keep all these thoughts out of my trading assuming if I am in it to make money.. All irrational for sure but show me a rational human. Bottom line, in life, and especially in trading, the first step to happiness/financial rewards is accepting what is happening. Only then can you function enough to improve your condition.. METHODOLOGY... Basically take trendline breaks close to price levels with Daily/Hourly Structure in mind. You asked..

Somebody please calm this $$%&&** down?? NQ, that is.

Bill Gross of Picmo said something to the effect of "you get paid for doing the nauseatingly mundane tasks other could not bear to do".. These tasks can be very dull but you just never know when that morning review you didn't do will be the difference. NDX mid 1750's ("flash crash" low area) was expected to have decent odds of bouncing.. Didn't do my morning review and traded without this in mind.. OR a trader could establish a time frame that he uses to determine direction and follow it dogmatically regardless of anything else. Both probably will do well. What is common in the above is the trader DOES SOMETHING CONSISTENTLY REGARDLESS OF EXTERNAL INFLUENCES. Reminds me of discipline! Statement for 08/26

Laz, Hope you do well.. I wish we here in the US could trade the indexes in such small bites as anything less than a $2500 account at unhealthy risk. Remember, markets have "enough" structure to do VERY since the majority of traders "CONSISTENTLY" lose their money. That proves those that consistently oppose this losing group can make a mint. Why else would I bear this pain this long? So do what others don't do, and we all know what others don't do. All you have to do is sit there and wait for fear/greed extremes. Easy as pie! Statement for 08/24.. Never trading wireless again. It cost me a few days back and it started me off badly with a fill that was 4 points away (always against the trade of course). TOS was very slow for the first 30 minutes or so. Anyway from the attached chart we can see "enough" structure to make money so why did I lose? Nothing new.. anticipating the close of candles that haven't closed... i.e. impatience. A trendline break means A CLOSE, not the thieving reaches (seeming randomness) that happen frequently occur.

Laz, Please join in.. I need an occasional shoulder to weep on.. What will you trade?

Statement for 08/23.......

Returned to the well and surely was different from earlier.. Overall handle things ok.. a 5 on a 10 scale for the day.. KEY error was placing stop after 1814.75 short at 1817.5 instead of 1820.5.. maybe not a error actually but rather a consequence of playing at a $100 table with $5. Stopped out there and somehow was immediately long (software glitch..).. Anyway salvaged an afternoon that threatened to take it all back and some.

Plan: 1840 to 1842 area was a VERY obvious short area due to intersecting Trendlines AND a price level.. As good as it gets. My new game plan is to trade only breaks of lower time frame Trendlines when the Longer looks exhausted and close to something that should stop it.. Reality: Shorted 3 times BEFORE the break (the fear that if I wait for the TL break I either won't catch it or if I did, the back-wash will kill my account based but silly stop), went long once (don't ask). Did do well on the short, but again did not wait for the TL break so left 6 points behind. Took the long on the break up for 3 or so. By and large the day can be labeled "The anatomy of a small stop". THE question is should one be trading ahead of the break even with a larger account? For small account the answer is clearly no.. I know thalestrader would have shorted even lower for a 1-2-3 break of the second swing low but that terrifies me but likely does better over time with less trade losses. Will post account tomorrow as usual. Ahead nearly 10 and other tasks await so calling it a day...

Statement for 08/20... Back to Square one.. Stood at the edge of the abyss hopefully for the last time. Need to implement a structured, measurable action plan otherwise just blowing in the wind.. Impossible without discipline though.

Not good as I am a Novice Professional, doing both! Regarding Home runs or Singles.. Seeking Home runs only a sign of laziness in trading seeing singles as too much work. The ideal system I think always keeps a small position that hopefully scratches most of the time with the goal of the home run while grinding the singles. Most articles of successful short-term traders all say the same though.. It is a job and they work for singles all day. Most trader don't see trading as an all day job.

Very useful.. thanks

Statement for 08/20 Days like yesterday were made for me, and not a day too soon. As for today coming up?? The markets have trained me to expect what I don't expect, therefore I so I'll try to expect nothing.. gibberish..

This explains scalpers, which I have always thought were insane (still do, but less so), looking for the most consistently reliable part of the market, the smallest bit. Supposedly little nibbles can be taken from a monster undetected. The bigger chunks tend to be redefined frequently (volatility) so endless guessing results. All applies to the tiny account only as larger accounts (stops on multiple units at prior day high/lows result in less that 2% acct loss) can simply swing trade, which is where I think the more reliable money is.

No Ipad here.. I guess you can add 20 weeks to the date of that link?.. If something happened to me between now and then, I will understand as I am barely worthy in my current guise. Would be a pleasant surprise though.. love my Iphone 4. That the ability to stay above zero is the high mark speaks a lot to the difficulty of trading, especially a small account, in public for a nearly impossible goal. An very interesting race would be one that rewards process rather than results.. reward a kid for studying and doing his homework and the grade will take care of itself.. For me it would be for trades allowed to stop out or last at least 20 minutes.... Statement for 08/18.. Funny how I ignored 8 point profits just last week and now I grad 2 points happily. Lesson from markets: Until you learn to be happy with a little, you are not getting a lot,....