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+45 Ok, first two trades done. Following the plan was harder than I thought, at least to start. I have a long journey ahead, and I love it! :) All of you reading this get to find out my strategy and trading plan, but only a sliver at a time!:D First piece to the puzzle: I trade...

:) In T minus 12 hours, we'll see how things unfold!

Baggerlord, This is exactly where I'm at now, trying to define clearly recognizable setups so that way I'm not being too subjective. Hopefully this plus experience will get me to better trust myself, as that was an issue I was having several weeks ago and I can see that becoming an issue...

Hey Shan, Sounds like you're on the right track! The past couple weeks I've been doing exactly what you're doing: Printing out SPY charts and identifying patterns. Glad you're doing your HW, keep it up!

Gabbana, Us young traders should keep encouraging each other to make progress and move forward! I myself am 22, and I have my own journal: http://www.elitetrader.com/vb/showthread.php?s=&threadid=221529 Another guy Shanb has his own journal and he's 23 (Hope you don't mind Shan!)...

Okay ET, thanks for hanging in! Haha I'm sure my journal must be quite boring lately, as there aren't any trades being taken or losses being accumulated. Good news though, I've now got what I believe to be a finished (albeit crude) trading plan. And I wouldn't have done it without certain...

+0 Great day so far! Monetarily, I'm up nothing because I took no trades today. But in the grand scheme of things, I think I just got one step closer to being a success. Last night I got so fed up with trying to find setups that I had a breakthrough. I was so busy analyzing each...

06.21.2011 Trade: +25 Day: +75 Took another quick trade. Was watching SPY again, and noticed what seemed to be a range. The 11:10 and 11:15 candles largely overlapped, something which I've learned can be indicative of a trading range. I switched down to the 1 minute chart, just for...

+50 Saw a trade, couldn't resist. My goal today is to continue working on my trading plan. As of right now, I have several pieces of the puzzle for SPY. I trade this because even though it doesn't have large moves as AMZN or CF does, it has volume. And if I learn how to trade SPY...

Hey Shan, It's good that you're trading in very small size. I have a $7500 account for now. I agree it is a high loss relative to my account size however, up to this point, I've been grateful I haven't had tighter restrictions because no one is preventing me from feeling the pain that...

Yo Shan, My firm does have a loss limit. It''s 500 per day. Whatever trade puts you over 500, even if it comes back below it, you are only allowed to close positions for the rest of the day. Right now I'm halting trading until I further refine my plan. But before I stopped, like last...

Azuli, Thanks for the response! Also, from now on I'll be sure to state my share size.

No trading today. So I had a very important day yesterday in my little world of trading. Ironically, it didn't even involve any trades. I now have an ET friend! A very kind person and myself had an exchange about trading. This person called me on my sh*t essentially. Threw a PM my...

-373. Today was just a splendid day for what not to do! :( Right as the market opened, a friend called me to meet up. I had that on my mind the entire time. I don't even feel like using that as an excuse though, because that certainly should not be a reason to lose money in the stock...

Update: I've always viewed trading as a dues-paying thing. I hear many people say that it's just like anyone who wants to become a doctor. There's tuition and years of schooling. In the past, every time I read that, I would just say quietly to myself, "I'll do it quicker than them."...

You know what I mean. If so, PM me, I have a couple questions.

Well put! Thanks.

+67. I've been over-trading all day, and when it finally hit me, I stopped. Thankfully I quit while I was still ahead, even if ever so slightly. Here's all my trades and what I did correctly, as well as what I think I did incorrectly. Before I go into detail, let me say that I was...

Sorry if I am changing this journal's topic, but I have a question. forsalenyc, I've found that setups I'm seeing are roughly 1:1 on risk-reward ratio. 20 cent stops seem to be okay, and they usually aren't hit. My target however, would only be about 20 cents or so. Now, this all...

Maverick, Can you give me a shining example of a damn fine execution? What exactly are you referring to? Do you mean someone who, no matter what their strategy is, they aren't hesitating or jumping the gun, they're trusting their strategy day in and day out? Or do you mean someone who...