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What's alarming is the -15% in shooting percentage, the much bigger down day's than up day's. It is critical to realize the degradation in performance early and reduce size/aggression etc before the actual losing streak hits. I am a day trader, not a swing trader, a negative month is a big...

Thanks Brandon, I looked up some 30 minutes chart today and used it to filter out a few trades that I would have took otherwise, it is pretty helpful and it doesn't really compromise my stops as I still use tape/5 minute based stops. It is indeed a good confirmation tool. The range of each...

For someone who makes his bread and butter with quarters and half's to switch to point's is like swing traders going LTBH, you can't do it in a losing streak period.

Actually going to bigger time frame right now is suicide. Longer time frame requires wider stops which is exactly what you don't want to do when you are in a losing streak. I am going to do my best to grind it out until I get some of my touch back.

My friend found this incredible site that generates a personal profile based on your favorite colors (mine is black of course). I was stunned that it generated something that is nearly 100% accurate of my personality, check this out: http://www.colorgenics.com/ Everyone feels despondent...

People make a big deal out of the fines when in reality every firm gets them, some gets publicized some do not. All I can say is Wall Street has always been a dirty game and always will be, this goes from top to bottom, from the biggest institutions to the smallest shops. We do whatever we...

Nasty, nasty game as I was caught off guard in that nasty gap and trap. Even with reduced size if you can't get any meaningful winners it is just impossible to win the game. 3 for 14 shooting on 12500 shares each way, -106 before commissions, -383 after, no bullets. It is vital that I win...

Still, the way I understand it is that you gradually build your positions right? And you do pare in and out I suppose . . . That's when the fees really add up for me, when I do too much micro-managing . . .

Yes, the days with least volume is when I get everything right, off the open, very little losers and very little churning. I stop trading by 11AM and I spend the afternoon playing 100-200 share positions unless I see something really really good, as a matter of fact on some days I take off...

Don't get me wrong, I have ALWAYS respected Tony as a trader AND a person, I was just trying to prove a point and I can get very intense about it. Tony: I totally agree I should be more selective, as soon as I put some black ink on the sheet I have to work toward reducing the number...

After a horrendous start all I can say is I hope my 2002 will look like this. http://hitmantb.tripod.com/2001.htm

Tony: ***Proof I: I made a lot more money than Hitman last year and I paid less in commissions*** I don't think this was the case at equivalent experience level (a better comparison would be someone who has been trading Tony style for a year versus me). It is quite unfair to compare a...

What I was extremely upset about was the fact that I actually had a small four games winning streak going coming into this game and I actually averaged $350 a day in that stretch and I was less than $300 away from seeing black for the first time in 2002. Then I got fancy and tried something...

It will take awful lot of time for someone to be able to build up an account large enough for a living trading by themselve. Prop firms greatly speed up the process with very little risk on the line. If you are a new trader, even if your learning curve is a little less painful at Schonfeld...

First of all, I don't believe there is a good way to screen for good traders from those that never done it before. Good traders can come from ALL backgrounds and I have never seen any correlation of any qualifications to the actual P&L. Degrees, background in finance, none of this make you a...

When I walked into the office and saw futures down as much as it did, I thought it would be a huge trading day as far as opportunities are concerned. And instead of go immediately to my bread and butter game, I experimented with the open strategy I wrote about last night, afterall two of my...

Because use more size in losing trades than winning trades is part of the losing streak syndrome. You see a set-up and you say gee this looks so good I will take 1000 shares and bam you get stopped out. You see a set-up you feel partial about and you take 500 shares and you watch it go...

Well, unless the open book substantially change the way tape work, this is still by far the most important skill to develop on NYSE trading, just ask anyone who trades NYSE exclusively. I have seen people getting in and out of tops and bottoms PRECISELY with this skill, especially in stocks...

Mediocre performance but a much needed one to close out the pay period. 11300 shares each way on 10 of 16 shooting, +714 before commissions, +462 after, no bullets. This was the first check-less pay period I have endured since September, and it was tough to swallow. Frankly I can not...

***I think basing your trades on tapereading can be very dangerous. I cant tell you how many time I've seen large prints go off at the offer price only to see both the offer and the bid drop simultaneously. *** If you can't use the tools, don't blame it. Tape reading IS 60% of NYSE trading...