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Well 3 longs on a day like today sounds like madness but it was after 6:30pm and a bounce was in order on the higher TFs. I was ahead on all trades but got stopped out twice and left a bundle of points on the table. I guess that is the difficulty trading one contract, because I would scale out...

Came home from work a bit later than normal today and a little bit more brain dead. I got the charts up just after 7:30pm and saw what I had missed. The longer TF charts said that S5 was a very strong short signal – but I decided to ignore that and jump straight into a long!! S1 (S) –...

Jet, I did say in post 1 that this wasn't about the method, but the psychology. But I am willing to tell you what the entry/exit signals aren't based on: 1) Any price based indicators 2) Any moving averages 3) Any EW twaddle....btw EWers remind me of intelligent people who...

A bad start that turned into a good day, despite poor rules following. Got very frustrated with the 7pt drop at the open. I knew it was very weak on my higher TF charts but couldn’t find a 5min entry. Then spent a lot of time researching the higher TF charts with the 5min charts. As a result I...

Excellent piece Joe. This is my big mental challenge ..... some days I control it, others not so well. When I started live trading I wanted it all so bad – the life of the independent pro trader. But its not really the money I’m after but the challenge of the markets and the enjoyment...

A very poor day for concentration in the form of researching 120 min swing signals and from the mother-in-law and her broken laptop. Got stopped a lot today which is not surprising given the nature of the day. 648 level on the ER2 is a significant level going back 4 months and was the real...

Another nice bear session – but unfortunately I only had time for one trade….. but still a very nice one. Another great day for the signals and the trend was fairly clear when I jumped into the trade just before 8pm (3pm). I again didn’t have a clear entry signal for the first hour and...

Thanks Kevin. BTW - what timeframe and typical nos of trades a day do you have with your 8 contracts. Cheers

Kevin, Sorry I forgot to add that I would be very interested in hearing about the risk management approach you use. I started off 4 months ago on 1-2 minute timeframes and had 15-20 signals a day - so I reckoned on initial stop 0.6pts, once 0.6pts in profit take one contract out, after 1pt...

Kevin, Totally agree on both counts (sorry Fred!!). It just highlights how far ahead you are of me in your trading maturity and emotional control. On the two points you raise: I must take every setup that presents itself – period. The fact that I don’t do it 100% is my current...

Wow after a session like this I could turn into a bear for life. Got back from work early today and hit two out of three signals for home runs. Wasn’t sure how long I could hold the S3 long for because it looked such a weak move, but pretty pleased with the results. This is the kind of day I...

Classical music in the morning session...... European Trance Dance music in the afternoon....

Got back from work at 7pm (2pm ET) and the impressive 10 pt sell-off was just getting going. I initially wanted to jump into a long trade around 7:15, but the signal just wasn’t there, in fact it all said weakness. With no short signal to play I was just a spectator. At least my patience...

Fred, All very good questions….here is my personal view on why I miss some of my trades? Before I started live trading I was so confident in the signals and my experience Sim trading that I thought by Christmas I would be trading 5 contracts, averaging 2pts per day and bringing in $1k...

TNG, I know that desire will get me there in the end. I have improved 200% as a trader from when I first started live in May. I know my rule compliance % sucks at the moment. So I am trying to punish myself for any rule breaches i.e. the non-signal entries I close early even if they...

TNG, Thanks again for the link ……an interesting read indeed. What was a surprise to me was: 1) The simplicity of their entry criteria 2) The losses they must have racked up in the process of finding those large trending winners (i.e. a low win/loss ratio compensated for by a massive...

Donwah, That's good to know. I know I will never master the beast, but just understanding its mood swings is probably enough to make a reasonable return. Cheers

Well my concentration was better today and I sat through the whole session without letting myself get distracted. However, there was a definitive negative tinge to my mood today that caused me to hesitate more than is acceptable. I didn’t have a signal for the 5pt opening move, but...

TNG, Many thanks for that. I've just printed it off and will have a read tonight. Cheers

After missing the great rally day yesterday I thought we were in for Whipsaw City today – well it wasn’t quite that bad …..a few interesting plays I had a hangover which didn’t quite help the focus (even after 2 Red Bulls & 3 coffees). S1 (S) – nice entry 666 (14:51) – closed...