Goldfish

My apologies for posting something which is inaccurate - I thought it was $50 anually and it was just a matter of reading BMT website info too fast. I'm very happy about that. Also, its not about "not caring"...I simply missed the previous post about it. Thanks for bringing the error to my attention.

Agree RForexDad, this is a very simple and controls risk effectively. Coaching others helps us all refocus on our risk management. Its not about winning big, but losing small so we preserve our capital.

I think we all tend to do this - try to work out why a particular strategy is not working. But, if I can just add another 'Brett Steenbarger' piece of advice ... which eliminates all the soul searching / backtesting / beating oneself up.... "Asking the question: ' What am I doing wrong ' makes a trader lose sight of his (her) STRENGTHS, and what has bought him success up til now. Sometimes the best of strategies will not work. There is no law that says your particular strategy HAS to work every time.... Markets will do that they want to do. Can you honestly say that you have controlled the four TRADE PARAMETERS that I mentioned in my previous post? If you have, then you would have taken a loss and moved on, instead of the trade still being in play and in drawdown. So trade the setup that works for you - you will know what that is. AND manage your risk. It may not work every time ....but you will have controlled the only things that you CAN control in trading. Slumps only become permanent if you lose sight of the BEST in yourself - there is "nothing wrong".

I have found (free) online coaching articles by Brett Steenbarger have helped me dealing with losses...as follows: He says outsized losses dont just happen, they are actively caused. Its hard to allow losses where four trade parameters are in front of you. ie The Entry / The Target / The Stop / The position size. He recommends: a/ Get Small b/ Get Selective c/ Take responsibility for what CAN be controlled. AND: There is only one cure for TRAUMA (of dealing with loss) and that is repeated experiences of control and safety. He asks the question: Are you trading for "Risk of Ruin" or are you controlling your risk? If the trade is not working, if its not going in the direction you planned, why are you still in it? Very basic, but thats how trading should be, a ROUTINE activity, not emotionally charged and causing you grief. His words ... I am just hoping they help you plot a course of action. All the best....

I agree Sixpence. There was a Supertrend indicator that I originally downloaded from BigMikeTrading. It was fantastic, and I rarely lost $$ using it. However, the original one seems to have disappeared & another is in its place. Same name, different behaviours...and slower to give signals...cannot make it look the same. Wish I could find the original again - it was fantastic. Will keep looking..... When you say there are better, what are you referring to? A similar version to the one being asked about or something completely different?

I think you can also determine whether its a trend day or a range day, by using the NR7 or Narrow Range 7 indicator. I think NinjaTrader has it ...

I've downloaded a few indicators from BigMikeTrading website for free. However, BMT has now blocked downloads, unless you are an Elite Member, (USD50) because various companies/individuals were flogging them for lots of $$$ & it was causing angst. Dont know about Emini-watch indicators -am checking them out now. Not sure what a "Better Trend Line" is! You just need to learn how to draw them correctly ! And learn Tom de Mark Trendline drawing - it can be hard work but worth it. I use very few indicators, but one particular indicator from BMT that does exceptionally well for me, is the "anaSuperTrend" (line) indicator. Pullbacks respect it & usually power off it...while retracements do the same. Look for good free stuff before you pay, is my take on them.

Hi Jazz Brett Steenbarger has some great articles available free but I would also direct you to Al Brooks work, on this forum, for excellent help on learning to trade price action (without reliance on indicators). I've been trading for many years, but his work is opening my mind up to new opportunities & has influenced my trading just in the last week or so - I notice I take higher probability trades and let the small ones go by. Check it out....I also like Steve Nison's work & have learnt from Dan Gramza as well, if you are into reading the candles. The higher time frame candles especially can be deadly for market turns. best trading Goldfish

You've come to the best place Wangdd - a great site to learn from.

I second those comments ...and what really is an achievement on this forum - is that rarely is there any disagreement between those who post about Al Brooks' work....just straight discussion & charts posted for comments/help etc. If you do a search on other forums, ( I dont want to name them) the nasty comments hack back and forth for literally hundreds of posts, with members trying to out-snipe one another. Here, its just straight learning - remarkable and a pleasure to read. So thanks to all who contribute so much.

Hmmm, now why doesn't that surprise me?? Mirus have never responded to my questions about data delay - instead they blamed my internet provider, the type of computer I use, etc without even asking me the details of those. That's why I gave up on using Zenfire. It can work well for months and then go weird...I have been up to 20 minutes behind the market at times! I am really happy with Kinetick ...haven't had a single issue with it, & $50 a month wont break me. I love the FDax for its moves, good luck in trading it.

Hi Jazz with regards brokers & data providers, I use Mirus and NinjaTrader for platform, but I pay for data through Kinetick instead of getting it for free using Zenfire. Through experience, I have found Zenfire data was often behind the market and unreliable, so after months of persevering, finally changed over and was glad I did. Heaps better... I trade mainly the YM and agree with others, Dax can be wild and very damaging...as a beginner you absolutely should not go there, until you have lots of experience. IMO only .... Good luck.