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I could probably offer some advice but I don't know what you are using for an entry signal. I also need to know if you are using market or limit orders for entry.

You are doing nothing wrong. This is where patience comes in handy and it can save your butt sometimes as well. Take what the market gives you and do not chase.

Based on your chart it is a classic sign of old resistance becomes new support. when the price came back down it bounced about 3 times on what was resistance and then continued up. Had it broken out of that support then it could have kept going. Hard to tell while you are in the heat of battle...

Exactly what I mean. Last week you saw me give up what had started as a winning trade on SLV and it ended up a losing trade. In peoples mind that was foolish on my part but for me and my trading it does happen. I don't exit until the market gives me an exit signal. But I also got back in the...

Totally agree. Van Tharp has trading game that you can download and play the first 4 levels for free. The game is all about position sizing and it is a great way to start. It is hard for people to understand that entries are not the most difficult part of trading. It is managing the trade...

Great job Sam. It is good to see you starting to slow down. One thing you might look at one day is starting use a more quantified measure of position sizing so that you can withstand a little more loose stop without getting hurt thus keeping you in a trade long enough to for it to go your...

No need to thank me, you pulled the trigger. I got stopped out on my SLV trade. Time to move on to the next one.

missed my entry on CENX by 1 penny. I use day orders for my trades but I am going to re-enter the same two orders for Monday. Still in SLV

If you will pull up a daily chart and put a RSI 2 period and 5 period. Then look at AIG and CENX. They are both really oversold. Both of these are above the 200 day SMA in which case I am only looking to go long. I never go against the long term trend. I have placed a limit buy order for...

My sell signal is a little tricky because I have 2. My sell signal for the winning side side: I would have exited the trade with a market order the morning after the RSI (5period) closed above 75 which it never did. On the losing side I always have it set for 2% of my trading account. On this...

SLV has taken a beating the last two days but I still have not gotten a signal to close the trade. In fact today gave me another buy signal. I am still holding this trade. I am not trying to prove myself right on this trade I am just waiting until the market takes me out of this trade. Positive...

with the pull back today I did not get my signal to exit. I am still in the money on this trade but I won't exit until I get my signal. I might lose my profits and end up with a busted trade but since I don't predict the market I will wait and see.

I am still holding my trade in SLV. It looks like my signal to close the trade will come today. I will watch the market near the end of trading day. If the stock appears to have a strong close I will close with a market order at the open tomorrow. If it is weak at the end of today I will do a...

Hey Sam, I figured you would be ok with your entry on SLV. What you were seeing as resistance on an intraday chart was just a blip on a daily chart. That is why I think that people starting out trading should feel better by slowing down their trading. By sitting there watching the screen it...

SLV finally dropped down to where I wanted it to. I went long at 27.50. BTW: If I was in your trade on SLV I would still be in it as well.

Sam, I hope this set back doesn't shake you out of the market all together. Hopefully you will be able to come to terms with trading real money. The mind is very powerful when it comes to winning and losing money. PM me if you have any questions. Gary

Should still be in it if you enetered when you said you did. Will it work out, I don't know but it still looks good to me. You should still be in it but I am still showing that you should stay with it for now. Along the way I will tell you when to exit if you want to be conservative or if you...

You should start seeing some gain today from SLV. Remember not to exit before you get a signal. What ever signal you want to use for your exit. Might be tomorrow or Thursday.

I also see a lot of opportunities like SLV that make their move up before I get my entry. I have to just look the other way and start finding my next trade elsewhere. I will still be watching SLV but if it goes up another day I'll have to wait a while before it will be tradeable again. 2...

Yep....but I might have 4-5 trades like this at any given time. It seems like I get several all at the same time and I will trade them for several days.