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Hi Master K, Thank you very much for sharing your infinite wisdom. That's inline with what I have been thinking lately. In my SIM trading, I have recently turned off the "PnL Meter" so to speak. My focus is on honing the process, spotting my setups and MARKING them on the chart. This...

Hi Matcha, I shared all of those discipline problems that you listed. I think the best thing we can do is to go back to the basics and work on keeping a "simpler" trading plan. I think in today's market, if you would have refrained yourself from going after those 2 long trades, it would be...

Hi Matcha, You did good today trading with the trend both in LIVE and in SIM. Nice chart combining the 5 min and 15 min on one chart. I wish IB can do that. I only took 2 LONG trades in the morning at about the same time as your trade #1 & 2. Net for the day +2.75 ES points. Then just...

Hi Matcha, Indeed it was a very very slow afternoon. 3 hours of trading within a 3 point range! I think I'm going to declare a National Friday Afternoon Off for all traders from now on!!!!! :) :) Hehe! I took exactly the same short trade as your trade #1. Made the same 1.25 ES points! I...

Hi Matcha, ".... slept late....then exhausted....." This sounds familiar for us hardworking student traders. Working too hard to digest all the great advice. I, too, quite often work late to try to assimilate the new found knowledge into my trading plan and ended up exhausted during the...

Hi LuckyLucy, It's great advice from Matcha using EMA as the guiding light for a direction to trade with. It's important to get the direction right as RN has also recommended to first identify the CONTEXT and trade accordingly You can also identify a new trend is forming by spotting the...

Hi Matcha, I think you ought not to have this feeling. Think of it the short setup should be the opposite of the long setup. I know you can do it. I think the only thing that's different is not likely the setup, but the tendency of a down market moves faster than an up market. The retracement...

Hi Matcha, Sorry to hear your loss today. Tomorrow you will do better. My trading today: {2 trades} - I took exactly the same long trade as your trade #1 and didn't take a small profit, then IB freezed up. Got out for -1.5 ES points. - Took 1 short trade at 9:30p.t. Got out a bit early...

Hi Matcha, I like the way you stay super calm while trading and focus on one time frame (5 min) and not be distracted. I think you have progressed into the next level of pure PA analysis. No indicators, one timeframe, keeping things simple! My current goal is about the same, 2 ES points...

Hi Matcha, A great learning week so far for both of us. :) I think we needed this just like the market sometimes needs a consolidation, goes sideways and then spike up to the next level! The most important thing is to be disciplined! The trade that you missed at 7:20. Was that a H1 setup...

Hi NoDoji, Ditto - that has been my experience also. Now, I have to get rid of this bad bad bad behavior. I will try harder to correct this problem. The loss recovery chart from Matcha will serve as a reminder for me to avoid doing such unwise and unproductive things. --po

Hi Mathca, Thank you for caring. I will post that near my monitor to serve as a reminder. :) My "moving protective stops" problem comes in both tightening and widening. Both have been detrimental to my PnL. I tend to tinker with the stops mostly by tightening them to capture smaller...

Hi Matcha, Ditto - Not too happy with mine either. Still working on it. I am still digesting all the NEW things I learned everyday. Errors - I think most of them are "perceived" errors. I am beginning to accept that it is part of the expected outcome of any of our trades. Sometimes, the...

Thank you RN. --po

Hi Matcha, Arrg! Remember to take profit next time! :) My trading today: 2 trades, -1.25 ES pts. Hesitated and missed the trade at your trade #1. We'll do better tomorrow! --po

Hi RN, Great post! I have it printed out for future reference. "....Keep your context simple – use just enough to tell you which way price is headed – if only for that moment......" "...if only for that moment....." - this is a profound statement for me. I often found that by using...

Hi Matcha, Good exercise of discipline. Just watching for me today. It's a narrow range market. Looks like big trending days are coming up soon! --po

Hi Matcha, Happy Valentine's Day! Ditto - I, too understand it takes time. What you said sums up what we need to do moving forward. My trading today: - Not good. 5 trades. 2+, 3-, net -2.25 ES points. - Lessons learned - it's so easy to identify my mistakes after the facts! Well...

Hi All Sifu(s), This has been a great weekend with all of you to help us newbies on how to think outside the box. Hopefully all these valuable advice will transform us into better traders. I appreciate all of your input. --po

Hi Matcha, Thank you very much. I like what you said: "Market will always be there every morning. But our account will disappear if we reinforce bad habit." I have been reviewing and analyzing both my "good" trades and "bad" trades. I am beginning to see a pattern of going down the...