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Posting a few times in @k p's new thread re: stops etc I thought I'd throw a question up here and see if anyone has a different opinion. @Redneck posted a great reply to a question saying something along the lines of 'professional traders take the loss and simply move on'. I agree with that...

:D After bashing my head against a brick wall for years, I'm finally making progress on this! +1 This has been a massive shift for me recently. No more tinkering around with stops just because I get a "bad feeling". Anything can happen right?! +1 ====================== Thanks for that...

Each edge has a unique outcome - M. Douglas

Yup - as always - what he said ;) "Take the SL" Sorry RN, my Aussie<-->Redneck translator is acting up.... Do you mind me asking.... Are you saying that the way to accept the risk is to have your SL set in stone regardless of what happens after the trade is triggered? Is that what you mean...

Not as good. Yet.... ;) There is a reason I am living and breathing Mark Douglas' work at present!

Sounds to me like a great trade rule. If price doesn't move from your entry - dump the trade. I have looked at my stats and those trades that have an MFE below 2 ticks mostly hit the stop. So I get out of the trade if it hits my entry, gets triggered and doesn't go my way. yes I miss out on...

Hi KP - I wrote up my stats from the 100 range exercise db suggested a few months ago now in my journal. Same as with 40D I found roughly the same win rate as you did. This was with 5pt targets, and discretionary stops - over the course of the exercise my MAE was roughly 2-3pts. I've since...

You do have a way with words RN. Well crafted. BTW - I made that audio loop of MD's quotes. Maybe if I play it on repeat whilst I'm asleep it will sink into my subconscious ;) Thanks!

Now on to todays update. Not the best of days! I suppose I’m just disappointed with the way I handled myself, particularly in terms of trade management. I think the key reason “why" was the way I interpreted the market info. That sums up my day. Expectations. I always find days like...

Disclaimer - Writing this stuff up in a public journal makes for really boring reading for anyone else, I accept that and I apologise for a really boring journal! It takes a fair amount of guts for me to put this stuff up here sometimes. Whilst it might not make for the best reading, it does...

Nov 17. What few trades I had today I executed well. So all in all I feel positive about the day's performance and even though I ended up in negative figures, it was only ~4pts. This was caused by two trades that got off to a start and then came back to take me out, which I took in my stride...

Cheers. That's a good idea.

Zoom out to the bigger picture. I've added this quote as it really resonates with me at the moment. To me it encompasses: A belief in ones edge, Risk acceptance (Prior to taking the trade), An acceptance of both the randomness of individual results, and a belief in the profitability of...

Bit of a mixed bag in terms of my start to the week. Good execution on the majority of trades today. Had a bit of a wobble when I missed a trade due to a technical glitch but felt I recovered well enough to keep on trading. Took the breakdown at the Open from 91 down to 86, but then I missed...

Just coming back to todays post re: pushing myself to take more trades. I know I'm a bit slow in coming to this realisation. Hesitation due to fear is an insidious, debilitating, humiliating thing to battle. Particularly when you see your edge working each and every day (wins and losses), and...

So - today I followed through with yesterdays progress of taking all of my signals when they came. This for me is very positive. My personal beliefs have always held me back in terms of hesitation more than anything. Over trading has never been an issue for me! In times past I had to build...

+1 So true, and on the surface seemingly so simple. Hence why this is so very difficult. No? I feel like I should rename this journal "My Mark Douglas Journal" :) Poor Ricky Demille hasn't had much of a say in a while!

I'm not getting all hippy and transcendental or anything here, but this quote, at least to me, sums up the traders journey. Well at least certain aspects of mine! Came across this site yesterday as I was looking up a quote from Desiderata. This person animates famous quotes poems etc. Brings...

Today was better. Today we made progress: I didn't stop at the first couple of trades, but kept taking the signals when they came. I was down after the open but this didn't phase me, as I executed when my edge appeared. In fact I was able to bounce back from a couple of losses today without it...

Thanks for that @zbestoch. I agree 100%. To my mind it is far easier to scale up the number of contracts per trade than chase the market for more points each day. Maybe I'm wrong on that assumption.... But it is the way I am approaching this.