Recent content by aldrums

In the attached B/O mode chart: The first trade taken at the daily swing high got the ATR, the second one was BE, the trade at the YH would gotten the ATR (if you got filled), you would have made a little at the DSW again, then the ATR again at the Yhigh again. They all worked! This all is...

ID NR7. Buyers are still out in force, they bought it a quarter point above the morning low EOD. Expecting some action Thursday. Couldn't trade this afternoon, wife got stressed about the taxes and that was all she wrote. Spent the afternoon going through receipts. Looks like I didn't miss...

Waiting for the bombs to drop…literally. Couldn't go long yesterday. I didn't want to be on the wrong side on the market with imminent military action in Syria. It was tough.

I don’t see anybody else doing it, so I thought I would create a thread with my daily statements and see how it goes. I’ll post the previous day’s statement each morning when I receive my email. I daytrade SPY and the ES. I normally only browse the ET threads on Friday afternoons. So if you...

Please don’t make me put you on ignore your first day here

I saw the video. When it comes to horizontal lines this is why it is the best to trade the lines everyone can see. For example, the previous day’s high and low. This is why Fibonacci is not reliable, IMO, because not that many people use it on their charts. When it comes to trendlines that...

Tax returns

Couldn’t agree more!!

Of course. This is what I meant by understanding the fundamentals. But once you’ve got that down, you have to take it to the market for the real test.

Awesome post...except for this last part! I do believe in the power of educating yourself...absolutely. I also know a little database programming, and I use MS Access to gather data on the markets and plan each trading day. I absolutely have no regrets. Every trading day is a day I can do...

I have to disagree with you here. It is VITAL to feel disappointed, and absolutely necessary for your economic survival. Your system sucks, it didn’t work in the real world. You don’t have a system at all, because the whole thing was developed under false pretenses. If you think a system you...

It’s not what you do, it’s how you think about what you do when you’re doing it. And you are NOT going to know how you think until you are under pressure in real time, trading.

Once you understand the fundamentals of trading and know how to execute orders, there is no use wasting time in a simulator when you have no idea how you are going to psychologically react to your system in real time.

Then it means you are not trading in accordance with the behavior of the market. The market is telling you what you are doing wrong. Now it is up to you to make the necessary adjustments and fix it.