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No changes to trades 1 & 2 and therefore no new stocks until I raise my trailing stops or get stopped out. Tonight I put another hour of quality chart time in. I plan to reread posts carefully this weekend and work on better quantify my setups.

Trade #3: This will be a live trade if it gets triggered. My reasons for taking this trade are because the instrument has been in a sharp downtrend for several months and this is the first pullback to the 40 period EMA. The first leg up to the EMA was too sharp for me to short it. There was a...

Cswim, I don't trade below the daily timeframe. Tonight I "paper" traded the daily timeframe for the years 2012 and 2013 - no actual trades were taken. I agree that it looks pretty flat now on the lower timeframes.

Well I reviewed about 50 charts tonight and did not see anything that I felt confident trading. I believe strongly in waiting for setups that i feel confident in and avoiding overtrading. Regarding outstanding trades, no adjustments have been made. In addition I spent an hour doing quality...

Handle, I am using a 40 period EMA on all my charts. So in the case of NXPI what initially drew me to the stock was the monthly pullback to this EMA after a strong run up. I see RN’s point that on the weekly and daily the trend is still clearly down and there is plenty of resistance overhead...

Thank you for your insights RN. I value and will carefully consider them.

Oh I had plenty of thrills over the last 10 years trading. That is definitely what I am not looking for now however. I started my trading career off in the year 2000 when I got my first bonus check at work. Some of the older guys I respected at work suggested I invest it in mutual funds...

I took this trade because it is a pullback on the monthly chart and appears to be a reversal of an intermediate term bear trend on the weekly chart. The pullback on the monthly chart looks bullish to me because of the lack of downward momentum, the presence of two bull bars and the tails on...

Trade #2: I entered my order for this trade this morning before work and my buy stop limit was triggered sometime during the day. My initial risk is 1%, which which combined with trade #1 puts me at a 3.5% outstanding initial risk for stocks and stock index futures. According to my trade plan I...

I'm still here. Looks like you guys had some good discussions while I was at my other full time hobby. I plan to read every word carefully in this thread because I know that at least a few of you are veteran day traders who have much more experience in this business than I will ever have. So...

I see that A&M (Approach and Methodology) isn't another trading technique and that J_S was trying to steer me in the right direction. I looked up RN's outline and it has a number of categories that I have not considered in developing my trading plan. I also see that I need to flesh out my...

Thank you Xela, DDR, Redneck, Market Surfer, jas and PA for your welcome posts and feedback. Some insights I've gained from your posts are 1. It would be a better idea for me to have demo account practice in addition to the paper trading I've done. The fact that I have not done demo account...

Trade #1: I took this trade last Friday. My initial risk was 4.5%, which is much higher than my trading plan calls for. However, since I did not finalize the trading plan until today and I am already in the trade I will manage it as part of this trading journal. I have no other trades...

J_S, Thank you for your feedback. I've tried many different techniques over the years and followed many different gurus. In my experience, hopping from one technique to another did not enable me to master any one technique in particular. As a part-time trader, I believe I need to do this and...

Attached is my draft trading plan. I use traditional candlestick charts along with a moving average to form the basis for my trades. I've tried a lot of other techniques over the years, but this method best matches with my personality type.

I’m a part time end of day trader who has been trading with very limited success for over a decade. Trading is the toughest “game” I have ever played. I know that I have psychological and technical issues that need a lot of work if I am ever to be an Elite Trader, which is a dream I’ve had...