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I would like to take a minute to discuss the difference between strategy trading and day trading straight from the head. As I have been in the markets, I have noticed several correlations that I think could easily be developed into profitable strategies. Yet, it is my personal wish to simply...

I am cutting my trading day short today because I am no longer in a mental shape to trade. I began my pre-trading routine at 5:35, and began searching for market direction and potential trades around 6:05. I was a bit confounded at first, before seeing a brilliant long entry (it’s easy to...

I think I made an important realization today: Trading with longer time frames will lessen the number of required split-second decisions, which naturally and inevitably have emotional and instinctive tendencies (so probably not for a beginner trader to be having 12 trades in an hour, like I was...

I am doing studies today, but I wanted to share my mesmerization by exactly how many technical things combine to work in forex at precisely the same time. For the EUR/USD move from 14:03-14:16, the exit was either precisely, or within about a single pip of: bottom of 2.5 hour channel...

I decided to move my learning and watching day to Monday, since Sunday doesn’t really qualify as the standard trading conditions I’m looking for. For Monday, I figure there is an equities market close, a day’s worth of pivots and trend to figure out, and overall likely more typical...

No problem at all, Tom. I appreciate your input and recommendations.

Exactly. That's why I collect all I can and spend a lot of time filtering out the junk. I researched every one of about 250 indicators. I use two, if you count pivot points, although I haven't done fibs yet (on my to do list). The other is RSI, which I only have until I am able to interpret...

Tom, Thank you very much for your response. However, I believe you have mistaken my goals on ET, which are in fact very different than yours. I stated in my first post that my goal is to keep myself writing in my journal. The simple knowledge that I have my own online dedicated web...

During Trading Session begins at 7:35. Unfortunately I was eating with friends later than I had hoped, and I missed the giant move. However, as I am writing this, I am catching the reversal. This represents a good step of not emotionally entering the trend and trying to catch part of the...

I am trying to catch the more pronounced swings over time frames from very roughly 5-40 minutes during sessions of less liquidity (I can't trade London, so I usually trade Asian). My studies were all well after London movement dried up, and the moves I studied did add up to several hundred pips...

I see that I did not write in my reflections for yesterday (Sunday), but I spent my day studying and taking constant looks in on the charts to watch them unfold and try to have a slight prediction to movement. It was another good learning day, and I took good notes. Today was a study day. I...

Sunday is my market watching day. Why are you waiting for the gap to close? The swings at least this week were over 50 pips back and forth for a while, which were more than enough to play with 10 pip spreads as long as you use smaller lots. Why wouldn't I use a broker platform, Rio...

I know that certain software programs like Thinkorswim set the chart open to 5:00 eastern Sunday, but as I can see from my Oanda Charts, the EUR/USD started moving as early as 1:45 eastern. How do you tackle this problem?

Any intraday forex traders carry trendlines through the weekend. If so, what hours do you exclude in your charts, and do they continued to be respected in the market? For example, would you carry a 30 min thursday-friday channel into the sunday open (American times) and keep them for the...

The relief rally is what I was referring to when I said "forged rally," but I don't see the Russell as well cutting new lows as anything to be excited about long term

Not a lot really happened today. I spent a lot of time editing my trading rules, and took a few trades during London and Asian session, racking up mainly small losses. The main thing that irritated me was that I was wrong on several moves, but also that when I was right I was faked out (for...

The Nasdaq 100, S&P 500, DJIA, and now even the Russell (to my personal surprise) are all cutting new bear market lows. Now what? A forged rally and an escalator further into the abyss?

Today was great. I spent a total of about 3+ hours studying about 15 trade-able moves that occurred between about 7:45 and 11:45. These consisted of very clear, profitable (at very least 10 pips if seemed obvious, most were 15+) and seemingly clear trades to take. I kept these in one of my...

New focus -- studies. During my short trading session today, I pinpointed about 57 pips of playable moves (at least 15 pip moves). I went in and explained to myself in writing where these moves began, any shakeouts, important levels and PA, and the apparent exit. I did this on the macro level...

Post-Trading My first trade of the day pretty much sums up the rest of the session. It was a loss of 11 pips, a gigantic and unacceptable loss. Not only was I too hesitant to exit because of the high spread (and was waiting, hoping, for possible continuation at a trendline 7 pips below), I...