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Yeah, well I had good short signal this morning, but because I had a fear of not making enough money, I let $320 turn into a whopping $50. My first thought was, "Don't be greedy, next time dammit lock in your 20-tick minimum!" But my second thought was, "If I start cutting my trades off...

Neke made it clear that this week's excessive loss was a result of not sticking to his plan: "Watched helplessly" is ego's way of saying "Surely I can't be this wrong! I have to hold this position until I am finally made right or am knocked unconscious." Which is a metaphor for capitulation...

This is truly valuable information, especially if you miss an ideal entry, still want to be part of the move, and need to quickly calculate the adjusted stop/target parameters to determine if the reward:risk ratio still makes sense. I had a real-world example last week in which I put on a...

If you are trading full time, it IS your career. It's a career that allows a great deal of flexibility and worth staring at charts 12 hours a day for a couple years. If I want to become a doctor I stare at books and computers and sit through lectures for far more than 2 years and when my...

That's the sweet spot, where the early counter-trenders finally capitulate and stop the pain at the worst possible price, and greed takes over as the trend-followers begin to take profits and the smart counter-trenders pile in at what will very likely turn out to be the best possible price...

Ego

To counter-trend properly you don't short the top of "an" up move, you short the top of "the" up move. If you don't know how to do that, you've no business counter-trend trading. I lost a LOT of money not knowing how to counter-trend trade. I now know how to do it properly and not only are they...

This statement might be indicative of a personality flaw that's affecting your ability to trade profitably. "I don't care that I'm long and price is falling because I meant to go short."

Yes, it really is that simple. I have an automated trading system in testing. In order to provide my programmer with information he could turn into code, I had to throw out a lot of what I do as a discretionary trader. As good as I am at certain kinds of trading, those setups aren't...

I addressed this trade in detail in my previous post here. I took the same trade at the same price at the same time (7:19:49 our time) and it went 2 pts in my favor and that's when I moved my stop to b/e and was stopped out. The way I see it is, price needed to make it to 1150.50 with some...

I think since beginners are trading such small size, NQ or YM would be easier because of the smaller tick size. Once some favorite setups are chosen it's then less "costly" to trade 2 lots and decide if any kind of scaling process works for you. For high liquidity on a tactic like scalping...

You must be young and so your heart can take the extra stress :p

There are a lot of ways to trade and you need to study constantly to determine the time frame and edges that give you the most confidence. For example, a scalper might do something as simple as watch for 2 bars in one direction and then buy or sell a 1-tick break of the second bar's high or low...

I think there will always be emotion, but something you can do to help get rid of the hesitation and uncertainty is to look at price at any point in time and ask yourself: Is there a prevailing trend in my time frame, (or is there a tradable range)? What would price have to do (or is price...

Hi Lescor, I admire your amazing profitability and want you to know that no disrespect is intended by my question, but this seems like an unusual trade for you. FO staged a strong breakout into the close yesterday (I saw it hitting my hi ticker and took a look at it), basically closing at...

Yes, determining a good R:R for your method(s) of trading is all about the win rate. If you have a 50% win rate, then a 2:1 R:R should keep you profitable; if you have a 60% or better win rate, then a 1:1 could work well. I've been trading one thing for so long now and studying the price...

Nice!

Do you look at the chart while you're trading???

Are you insinuating you're my brother from another mother? Hey, that's the current chart formation! It means we're gonna "shoot" skyward!

I agree, there's a lot of airspace until next resistance if this thing can break out with some conviction, but it's rather overextended and a good pullback to a higher low would set up a better probability breakout, IMHO. GL!