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Thanks for the response. Agree patience and discipline are key. I never forgot the golf book I read that said something like after you get past the basic level of knowledge, time is much better served to work on the mental aspect of the game. Realizing this is true, because when...

Oldtrader I have found your posts very interesting and helpful. My setups I trade are similar to some of yours,but sometimes my discipline is weak.I realize having discipline weak sometimes is like being a little bit pregnant. Many days I have caught an intraday reversal and bought within...

Might it be important( for a swing trade of a stock closely correlated to the spx )to weigh the probability of tomorrows open when having a large gain and losing 1/3 of it from todays intraday high?

With swing trading I think there must be some I think:) In a swing trade if we have had a huge run and the day closed like today,my opinion is there is a possibility for a gap down tomorrow. Obviously it can gap down ,gap up or open flat . After the run and todays close I think a gap up is...

Thanks mr. Sub just checked and it was already disabled.

Well,I see a lot of semi stocks that had huge runs and a gap up today and now a huge black candle on daily. My tech swing trades are closed,don't think the mkt should have given that much back,even though indices still closed positive. But then again I am the king of leaving massive...

Agree with your post Oldtrader. My toughest battle has been staying in profitable trades longer. Not sure what it's going to take,but at at this point resisting the temptation to close a profitable trade is very tough. I have to get used to the fact that uptrends do last for more than 5-20...

True uptrend days have been rare but profitable if recognized. I'm beginning to realize the size of winners vs.losers is more important than the # of winners vs. losers. Have seen many posters here with a high win /loss ratio that does'nt work out because of a losing streak.

Arch and Acary. I may try the idea of scaling out, with a stop slightly below the first exit.If the move continues and accelerates a trendline break seems to work well for exiting,many times if the move is steep, to reach the 10 or 20 period moving averages would require a large giveback of...

Know how you feel. Distractions are a killer. I definitely trade better when the house is empty, the summer was annoying. The rest of the world prays for summer ,I dread it. I no longer discuss the market with anyone during mkt hours. Not only did it distract me ,but occasionally bias...

agree with you Allen. I have certain setups for longs and certain setups for shorts. A failed long setup is not necessarily a short setup. Also it seems reversing is going to possibly trigger a little trying to get even mentality (except for the most strongly disciplined trader).

Thanks for everyone's thoughts. Acary,my work has found the opposite of what you are saying. Trailing stops have closed me out of many trades making 4-5 ES points only to watch the market travel another 10 plus points without me. Many times I would have been better off leaving my...

I would like to start a discussion about having an exit target vs. a trailing stop. The trailing stop, trailing by a fixed amount doesn't work well due to the fact that the volatility of the mkt is different each day. The moving average has the same problem some days a 10 period works...

Interesting post What this sounds like is a way to avoid losing. I'm beginning to re-think things. It depends on the traders accuracy. Your post on 8/01/02 concerning trader #1 and trader#2 comes to mind. Many times if someone has a series of small losses and...

Also having internet problems using a cable modem. Relieving to hear it's not my router or modem. Was hoping it wasn't going to be a nightmare to figure out

On Real Tick $SPX.X is the S&P 500 index. It shows a bid/ask . Anyone know where the bid /ask is taken from? I was not aware that this index is traded directly? Thanks in advance.

Really agree with your last post. It has to do with having the evil thought of wanting to get the lost money back. On a related subject.... When breaking discipline its easy to get on a roll. It's like any other bad thing. After you go off a diet the 1st time it's easy to...

Great answers everyone.. What worked for me: Daily loss limit with broker. Removed P&L from screen. Just focus on setups and think about the skill/art of the setup and how...

Boy, placing a stop quickly on the J trader is sure difficult. When things are slow moving and your not looking for a quick scalp the trade ticket is fine. It would be great if the F1-F8 keys could be setup in 1/4 point increments. Jtrader could look at your entry price and f1 could be a stop...

That post is so accurate it's scary! monee