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"If the trade doesn't start behaving right within a few minutes, it tells me my entry wasn't as good as it should be, and I bail" Bronks, For the sake of not sounding repetitive.. this is called trading by the seat of your pants. Please answer the following questions.. What does...

An analogy: You are currently in drive (trading). Put yourself in park (no trading). Develop a new strategy or tweak old one. Then go into neutral (paper trade). Then step and the gas again and drive. Right now you sound emotionally frustrated.. do not drink and drive!!! --MIKE

Bronks, I couldn't disagree with you more. Its exit exit exit. If I were you I would be somewhat disappointed with my trading performance for the day. Firstly, you did not follow your plan. 1 out of 5 trades actually hit your target. The rest were just scalps. If you would of held onto your...

Magna, Thanks for keeping it real. In hindsight if we would of bought all the dips today.. we would of made a killing. But in realtime is a different story. In realtime how do we know this dip is a buying opportunity.. or really the start of a downtrend?? Especially given the fact that...

Hey Bronks I have a simple question for you.. Looking at the Snagit chart.. I see you are using a 5 min chart to assist you in your trading. What is the point of using this chart if your avg profits and losses are ranging to less than 5 points. The range on a 5 min bar is nearly 5 points and...

gnome, Right.. that addresses the stop loss part of it. But what about knowing when to take a profit once your trade is in the black? --MIKE

I have read many traders on this thread talk about using trailing stops. I am curious as to how you come up with your trailing stop algorithm. Is it based on volatility, pure gut, ranges?? Do you just place the trade then let the trailing stop do the rest? Do you tighten the trailing stop as...

This is a totally flawed perception of trading. I am glad you made a remark like this because all of the newbies can learn from this. My objective is not to personally insult you, but to help the newbies out there avoid being another failure statistic. Always assume that you are never smarter...

redzuk, Read over some of my posts on this thread, along with some others regarding the reasons you failed. Nihabashi is in vogue with what I am saying. Notice, how the traders that can really do this for a living, frequently have the same methodology.. yet their techniques can be...

gerry875, You have to remember the exit is the function of the profit or loss not the entry. This is why I focus more upon exiting. For newbies exiting is much more difficult because before you enter the market or right before you click long or short on your trading platform-- you are...

Good to hear this Bronks and Tony, you are on your way to becoming a successful trader if you are serious about your game plan. One more piece of advise. When you formulate your plan... test it for a while, until you are confident and believe in it. This way you will stick with it. Ask...

Some advice from a trader thats been around the block a few times.. #1. Do not trade if you have no strategy. Period! (I don't care about your excuses for not wanting to paper trade, unless you don't care about your money.) I am talking about a rulebook. Write down everything on paper. It...

I have been studying and using TA successfully for the past few years and have made a lot of $ with it. With all honesty, based on the snagit gif and reviewing your trades I see absolutely nothing more than random entries. I still do not see your strategy and how you expect to consistently make...