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@Hooti - I've only just come across this journal, and whilst it hasn't been posted to for quite a while I just wanted to say thanks for the enlightening posts. It's a real pity you didn't keep posting. Cheers.

Yes there was stress in terms of judging the state of each trade and determining the best exit. The criteria I used for that is lifted straight out of what @dbphoenix has laid out before for trending exits. Range based exits are even simpler. All of these have been personally backtested. When I...

I'm just going over yesterdays posts - @dbphoenix asked what was the source of the stress that led to my decision to take 5pt profits. More for posterity so I can come back and look at my development later on, but also as it might explain a few things I thought I'd write down some thoughts...

Cheers - thanks for that @wrbtrader. I had to do something similar as a Project / Programme Manager. The budgets would be in the millions, so they weren't small projects... Lots of stress... Life as a PM involved conducting a lot of reviews and constant performance assessments, both personally...

Thanks for that great post WRBtrader. How did you go about integrating that into your daily trading? Was it difficult to interrupt and stop trading to conduct said review? Was it a learned habit or an easy response for you? Just interested....

Damn - it's good to have a conversation on this forum rather than flame war isn't it?! No offence meant @Buy1Sell2 - your replies to my thread have always been civil and I appreciate you responding.... In terms of stops, I leave the danger point to tell me a trade hasn't worked for the most...

Thankyou for yet another considered posting dbphoenix! It is appreciated. I agree with the need to detach the ego from ones actions and observations in the market. I think I noted it before in this journal that in my experience the specific entry level becomes almost immaterial once I have...

Just stepped back in and saw this post. I've heard people mention that specific video but hadn't found it yet. Much appreciated. "trading live with one contract can do total damage if you keep learning to lose with one contract." That really resonates. I guess the question is what to do next...

OK - this is going to cause a stir.... What I WANT is to execute consistently. I have a Trade Plan at present that calls for 5pt stops. On trending days this trade plan gives me more entries. I'm fine with that. Removing the exit / profit target criteria was a simple means to reduce the...

NP I added to the post above BTW. When you say you agree with Gringo that is in reference to delaying going live?

Understood. I clearly lack the ability to convey what I am thinking in my writing these days :) I am seriously regretting the reference to that thread! One thing I should reiterate is that my Profit targets in this trade plan are all 5pts. So whereas a true 'SLAyer' would have only 1 entry. I...

Thanks again for this - there is some great advice here. Mark Douglas says something along the lines that great traders don't have to try to be consistent, consistency is at the core of what they do. In other words, akin to an ingrained habit?

Agree 100 percent. You've mentioned in the past about entries and wanting to be in the trade only if you see the buying / selling pressure coming back. Why would you want to be in the trade if you are not seeing the behaviour you want...? That is the trigger I look for with my entries. The way...

Thanks for the comments all. @Gringo , thanks for the link to the video. Good stuff re: automaticity by way of small steps. Will have a look at the book you recommended. BTW - I have been doing the exercise as a part of my SIM trading as well. Not saying I've perfected it yet mind you! But I...

Holding a trend for more and expecting a continuation is a sign of a professional. - BigHog

Any smuck can fade a trend because they ASSUME price can not go higher or lower.............thats rookie-tunes stuff - BigHog

addendum - I'll be making the switch to live trading in the next week or two. The focus will be on Mark Douglas' 20 Trade exercise to begin with. I could be doing this in demo etc but in all honesty I feel I have to do it with money on the line to get full value out of the exercise...

Another update - I've been demo and sim forward testing my trade plan, and have added another entry type for trending moves. Not specifically SLA but close to it. Kind of a mix between SLA and The simple Price Action approach thread Metal started years ago. I have about 300 entries documented...

"Habits are safer than rules; you don't have to watch them. And you don't have to keep them, either. They keep you". (Frank Crane)

Hope is a great breakfast but a terrible supper - Xspurt