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How do you determine when to enter the trade using 9 to 11 points? How do you use a spread like that? The way Jagmot has it set up you enter with a stop order at 10 points. How do you enter the trade? What influences your decision as to whether you enter at 9 points or 11 points or...

I find IB tick data very unreliable compared to others. I use quote tracker for charting and IB's BookTrader to enter orders

Quote from bthomas: Please Help Us To Give You What You Want Please tell us exactly what you want from your trading room. Outside of a crystal ball which guarantees 100% winners, anything else is fair game. If you don't like trading rooms under any circumstances, this isn't the thread...

Isn't TA just a manipulation of Price Action to make it visually pleasing.

If you have a well thought out trading plan then you will have an exit strategy that you should follow. How often are you leaving money on the table when you follow your plan? Are you just focusing on the trades that get away from you? How many have hit your target then come back to stop...

Siwash; To start you need a trading plan. Define your edge and come up with a method to exploit it. You are well enough capitalized that you can day trade stocks so start with the DIA SPY or QQQQ. If you can be successful in that arena you can graduate to Futures. Demo trading is...

Learn from your mistakes: Figure out what you did to take 15K to 3K and stop doing that.:)

Excel has an “If” function: Set up a column with this function so that IF the trade is a win THEN value =1 if not then value =0. Set up another column so the IF trades is a loss THEN value =1 if not then value =0. Total each column. This give you the number of wins and losses. You...

Is that because you didn't follow your plan? If you knew it was a mistake, why did you wait to get out?

Welcome to the world of trading your own money. Fear and greed come into the equasion. You are entering trades because you are afraid of missing a move. The hardest thing to do is to stick to your plan. Just wait till your stops get taken out by one or two ticks then the trade moves in your...

Any reason why not??? :confused: :confused:

Not bad for your first day. 2 mistakes and yet you made enough to have another shot. You are now up to 5. Might as well count your commissions , they are part of doing business. Where would you have been if you'd stuck to your plan? :)

Stick with your plan. You will find out if your strategy will work. You have your risk defined. Thats more than most beginners do. I'm not sure that 4 shots is enough but it's only going to cost you $400 to find out. Good Luck!

How did you arrive at the bb settings? The default setting for a lot of programs is 20 period with 2 SDs. Why 50 points for 1st set-up and 100 points for the next? Have you considered using the BBs to get you out of the trade?

Have you discussed this with TradeFreedom? I have an aqaintance that trades with them and because of the volume he does he gets a preferrred rate.

Sound like you have the best deal with your broker. Who are you with that lets you trade of a penny a share after the initial 9.95 trade? IB is good but the day trading rule is in effect. You might consider switching to futures as you don't need 25K to play. Questrade also charges an...

That depends on your strategy. Why are you entering the trade. There must be some reason. What does the market have to do to prove your reasoning wrong. When you're wrong thats where your stop should be. Get out of the trade and wait for your next signal. you are entering with additional...

Does this make any sense now that you are out of the trade? You risked more than $2200 to make an $80 profit. And it sounds like this is normal????? Just a suggestion. Whatever your entry stategy is; if it tells you to buy then sell. Way better to risk $80 to make $2200 than the other way...

Interesting Journal. A couple comments from the peanut gallery: Quote from jazzsax: Don’t look at it as a bad trade. If you followed your rules for entry and exits it was a good trade with less than optimum results. How is it you missed exits? Not following your rules or an...

Ahah: The light comes on. I'll get it yet. :) BTW I didn't take it either but because the reversal was so far away. Thanks B