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Thanks, JP. My problem is that on the big picture i'm quite bearish and think the market could roll over any day now. I'm expecting at minimum a 10- 15 % correction. I need to either ignore that or only trade on the short side and accept i'll miss trades. I think the obvious answer is ignore my...

Fighting my market bias again today. Thought about going long around 7:30 pst which would've been a great entry with no heat. Instead decided to wait for what i thought would be a less risky short. Then later thought again about long but passed. First half of the day about every pullback...

For me elliot wave is not very usefull for day trading .Waves can extend or fail or just be very unclear. For the bigger picture , daily and weekly time frame, I do like it. I expect at some point after all your studying you'll throw out a lot and stick with what works for you.

First trade in awhile. Stopped out of my long trade for -2.25. Glad i recently revised my stop loss. In review this wasn't a great PA read but it wasn't a random entry either. Hopefully just rusty after the break. 2nd trade short for + 4.00. No real complaints on this. Watched a re-test...

Nice trade !

Hey Hooti, I was just thinking this morning i may get more benefit out of studying my own charts rather than reading Brooks. But i'll still read him on the weekends. Past week i've added to my trading plan rules for when i can add to open position, (only on two types of set ups and if...

Felt rested and focused today. The only way to trade. 1 trade for 2 points. Not a huge win but I think i had a pretty good read of the market so happy about that.

RE: Market Bias. I usually do a good job of not having much of a bias. I've got pretty much the same number of long as short trades. Lately i've become very bearish on the market and have only taken short trades, even though i've seen some decent buy set ups. Today there was a very nice...

I'm day trading and have break points based on daily loss limits when i 'll stop for the day and weekly and overall drawdowns where i go back to sim trading. You need something in your plan whether it's based on , maybe a 10 % drawdown or a set number of losses in a row and then how you...

Best of luck to you. Does your plan include any trading breaks after x amount of drawdown or just the full 40 ?

Well if knew exactly what my forte is my account would be doing alot better i'm sure. I do like b/o as part of continuation moves, that is, in a strong trend. I like reversal patterns ; Double tops, 3 bar reversals, failed breakouts. Still refining my exact set ups

"Anyone trading out there..............." If you consider staring at chop, reading blogs then back to see more chop trading then yes. Fading S/R in chop is not my forte.

Well this is interesting. I'm reviewing my trades for the past two and a half months, which includes sim trades, and i see that on my winners my MAE is rather small. Only 2 trades where it was > 2 points. And yet i'm using a hard stop of 3 points and have many discretionary stops > 2 points. In...

Very frustrating to have a good day yesterday and not be able to follow through. -5 today, 2 trades 1st trade i made a mistake and entered short at support. That's clear to me and i'll try to avoid doing that again. 2nd trade is similar entry as one yesterday. To me it looked like it had...

2 trades, +5 & +5.5 Both shorts. Internet went out for last 2 + hours and never came back up. Hopefully verizon gets it fixed by tomorrow. The first trade if i had held longer i would have picked up another 4 points or so if i remember correctly. Had decent reason to exit when i did so i...

No trades. Waited with everyone else for FOMC to end then couldn't find an entry. Either poor focus or more likely poor ability in reading price action today. Saw a few places where i was thinking short but felt like I was chasing so i stayed out. Missed the final 6 points due to an...

I just got Al's book last week. Only about 20 pages in right now. First impression is that the material could have been presented in a clearer easier to understand manner. Should have started with some definitions of his set ups then shown some examples. He jumps right in to the bar by bar...

Hooti, I attached a Trading Plan template if you're interested. It's from trade2win.com jas

The easy money ! :D I guess the short answer is I'm stubborn and i love the markets. I never had the quite the success i thought i should have had in trading so i want to do it till i get it right. I bought my first stock when i was 15 and tried trading stock index options in my early 20's...

There was another good short entry when 2212 was taken out. My trading plan right now does not allow me to add to my position. Pyramiding winners is key to increasing profits, IMO so when i become more consistent i will add this to the plan. It would seem to me that i should only add when...