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There is a good recent thread that opened on ET: http://www.elitetrader.com/vb/showthread.php?s=&threadid=190279&perpage=6&pagenumber=1 Having had serious drawdowns (and serious losses), I gave some serious thought to how this happens (certainly how it happened to me both live and in my sim...

Thanks, OC! Between reading about using a shorter time frame for entry criteria as well as entering strong trends (Al Brooks' book), and having a nice convo with a seasoned trader here on ET, I discovered not too long ago the value (for me) of using a 1-min chart to get a micro-picture of the...

+ $805 An AAPL a day...

+ $805 My trading life is starting to reflect the saying "An AAPL a day keeps the doctor away." AAPL on watch to the short side because the pre-market ES action still had "short any rally" written all over it. Short AAPL @ 196.46 pullback from overbought on the 1-min, stop above HOD hit...

I read the book last year, and thought it was very good, but I was still in the mode of experimenting with trading strategies, and also finding methods of risk management that I was comfortable with, and so I hadn't yet gotten to the core of what would hold me back in trading. Quite...

Had a nice run with the dog at the park, and returned to review my day, because it was somewhat of a landmark day in that I caught myself very early slipping into that "insane overtrading mode", and I stopped. I actually recognized a state of mind that's been detrimental to me in the past and I...

I'll agree with you only after I've been doing this for 5 years, haven't blown my account, and am still profitable :cool:

Kind of like "If it works, don't fix it?" :D

Thanks, today was just more reinforcement of how waiting for a really really strong setup and then stepping on the gas can really pay off.

Placing protective stops and knowing when to adjust them is still a major hurdle for me, too. I'm sim trading ES and live trading stocks. It doesn't matter whether it's real bucks or simbucks, I still have trouble with this. I also place hard stops, and if faked out, I can get right back in...

Thanks! I've been trading AAPL, AMZN, X and POT. Thinking of adding MA and PCLN after watching their moves lately. If the momentum is strongly in my favor after I put on the trade I wait until price is close to my target and then trail a stop about .20-.30 cents. I also trail a limit further...

Blotter.

+ $943 First I had a nice AMZN short @ 118.03 off a lower high, eventually trailing a stop to cover @ 117.27 for +$225. Then I chopped and churned and basically overtraded, narrowing my profit a bit. My pet stocks suddenly seemed whippy and I recognized this state of mind and didn’t want to...

+ $943 I thought that lower high after the 3 legs up was a nice short signal. Oh yeah!

Did you buy it as a long term speculative play? Then hold it. I bought it as a long term spec play in summer 2008 and sat on it through some major lows, then sold it during the swine flu scare last spring (didn't want to look a gift horse in the mouth).

Thanks for your kind words! I've several swing trade test portfolios in Etrade and every one of them has done very well. I may pursue it at some point, most likely with options.

It's people who confuse etymology with entomology that really BUG me.

No, this is my only journal. But if I don't break out to the next level in trading soon, I'll just write a book :D :D

Indeed :D

You make a good point. My edge is such that over 80% of the time price moves a specific distance and if I get in a little late, it's not the end of the world. Problem is when I get in late and my stop loss is so much further away, I have even more trouble not moving it too quickly!