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Knowledge of candlesticks is important - especially trading Asian instruments (as they are very widely followed there). Look at the yen (one of the best instruments in the world from an intraday candlestick traders perspective if you ask me) - pick the "right time frame" and candlesticks are a...

I’m currently short Buzz/long riskarb

tHE MOST EXPENSIVE LESSON IS THE ONE I HAVE YET TO LEARN

Don't mention it. If you would ask me what my favourite method of exit is: fib time - but not how it is commonly used. In the example above - I gave 1.2755 1.2789 and pull back to somewhere between these as your entry long. Project from the bar that is 1.2755 a fib time study and have as the...

Grob109, You comments have more value than anyone else’s on this board for me – When I first started on this path I remember reading a post on ET written by duard who stated: ‘read Grob’ – and he sounded like an intelligent guy. So Over the last year or so I have read your posts and...

Grob, Why arn't you trading the euro then? At 400 million a click you could really impress me. Do that 30-50 times a day - at about $20 000 a pip (assuming your not barking out orders for operators to click on 5 different platforms simulataneously = $2 billion a click - 20,000 cars per click)...

Maybe I'm wrong - maybe the new world order of online everything means that day trading is the most efficient road to riches and the next crop of trading billionaire/trillionaires will be the In and out style of trader (i.e. Paul Rotter). But to begin with I feel it is better to swing and learn...

I don't know the statistics either but it stands to reason that fewer trades + higher probability of trade success = Long term survival (capital persevation) and success. What I am suggesting is the drill of patience - to learn to be like a sniper who waits for those few seconds in the day...

Granted, repetition is a good way to learn, but at the risk of creating a day trader (i don't need to repeat the stats), isn't it better to inculcate the virtue of patience for the right settup as the First lesson of trading as oppossed to the willy nilly trigger happy freedom that is purported...

Grob109, I feel that you mean well with the exercise you gave, and I respect you as a trader BUT the general undertone that I perceive of it (correct me if I'm wrong) is that this excercise will encourage people to have the "click, click, click" mentality long term. This excercise will...

PS. I forgot to mention channel walls as well can be good exits. IE Draw a valid Andrews Pitchfork or somesuch channel over price and the walls on the far side of entry are important support and resistance zones that can act as profit taking targets.

How many trades does it take then? (Or rather how many trades did it take you to be at the space that you miss few trades?). You don't feel anything holding you back when EVERYTHING is a go these days?

None of the above apply to me. I have complete privacy to focus without any external factors that are mentioned above hindering me - apart from lower back pain (l5/s1 prolapsed disk - bloody painful early morning and late night and maybe it is part of the reason I feel like i do sometimes).

As a friend of mine said - we need losers in the markets. The more I associate with successful traders (but choose to stay at arms length from them) the more I see that inside each of them their is a deep need to f*** the other guy up because that is perpetuating the existence of a successful...

My system is sound it’s that my lack of application of it that I want to hone in and change because nothing is worse than potential that is not properly applied. If I have a “breakthrough” then undoubtedly I will be trading more than I am now, instead of watching opportunity after...

That one is easy - it's my fathers fault. Ever since I can remember he has been spitting out these lines (to this day whenever we talk it's the same old story): "If your born poor you die poor" "We have never had luck in our family" "I made so many mistakes in life" "We can't reach the...

Todays harvest so far - hold over the weekend! (You can see the first call I made on ET a few hours ago here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=69429&perpage=6&pagenumber=3). Sorry, but I'm a swinger through and through guys!! But the question remains, I was...

Good idea. At present I am risking more per trade and that no doubt is one reason that I am feeling performance anxiety. I rationalise it by thinking that my trading frequency is less than most and my success rate is correspondingly better. If I was to day trade - then yes 1% max is a good...

In gestault therapy those are called ahah moments. That’s how I operate as well. I’m slow to learn and catch on and the bits and pieces fall into place haphazardly (seemingly), however, the ahah moment somehow is the glue to provide the cohesiveness to allow the entirety of what I have...

JM, Yes it's that pain of not taking the next signal that is very painful for me right now - my whole point is that why do I freeze up when I'm about to take a trade when I KNOW that I will feel more pain later on by not taking it - (as oppossed to taking it and suffering a loss). Why do I have...