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I remember how difficult my first year was. Feelings of shame, worthlessness, self-doubt, mainly due to not knowing why I was "giving away" my hard earned money. I am very thankful for that experience now. It took a relatively short time for my pride and ego (my two demons) to completely...

My take on the issue: EMH = Emotional Market Hypothesis. Groups of people demonstrate repeatable behavior simply because they exist and act as a group. This is the "mob- mentality" as some have called it and it will produce relatively consistent behavior. Nitro, Didn't we already...

Bolter, Great thread. I found market profile over a year ago and it changed my trading for the better in the space of a few weeks. The main benefit was in revealing new set-ups I would have perviously ignored due to a lack of understanding. Per example, value area completions are now...

Finally, a reasonable comment. Thanks ang_99. If you don't like the way the exchange conducts its business - STOP DOING business with them, i.e. trade something else. Think about it this way, via a simple act of not "buying" their product, you will force them to become more competitive...

I used to have this problem. My solution came in the form of taking a "paycheck" so to speak. Everytime my account gains to a preset value I'll take the money out and reinvest in other stuff or just enjoy it. I've found this helps me physiologically to not start taking riskier trades when I am...

Thank you Steve for providing something tangible and realistic. What you discuss is the heart of the matter - an individual's comfort zone. Where do you admit you are wrong? Is it a monetary value? Maybe an insecurity in the position... Where and at what price is everyone else who SEES what I...

Personal moment of weakness there... I knew this would go nowehere. Anyway, I tend to give people the benefit of the doubt much too often. Haven't used the ignore function in a while... right about now feels like a good time. Bye CW

Coolweb, I have read through this journal and I belive your ideas and attitude towards the market have merit. You sound like you are learning what it takes to execute a strategy. I have only one question: what is your trade size and are you trading real money? Please do not take my...

Longer time frames have made it much easier for me to deal with the uncertainty. When I was less experienced I used 1-min candles. Every tick seemed important and the tape was consuming my entire concentration. It really wore me out and I now believe it created an emotional need to do...

Feels like the market (ER2) is discounting something right now - FOMC induced most likely. Regardless, your short may be a good call. Mike

I don't know what to expect. The trend is definetely up and I'm not about to start arguing with it. Why are you short here? I am not sure I see a reason yet, higher highs and higher lows seems to be the daily norm for the ER2... Mike

Yes. I took a long ER2 position last night at ~721.30. Sold 2/3 at close, still holding 1/3 with a 3 point trail. I fought hard all day not to sell this morning, 10:30 was very tough. I wanted to wash the trade sooo much but there were NO sellers... That's the way the ER2 has been lately...

Read the Tom Basso chapter in "The New Market Wizards" by Schwager. Basso goes into some detail about detachment and perspective. While I agree with such cliches (aka absolute truths) as having a plan and sticking to it; anxiety, fear and greed will always enter the mental framework no matter...

Trading is not logical, rational, predictable, etc, etc... apply whatever cliche here. Some have suggested that if you need logic and rational behavior in the line of work you choose, then trading is not for you. I believe this as well as the fact that luck has little bearing on your success...

Better luck?? WTF... listen to the guy that said you should do something other than trade. Are you really asking if you'll be profitable in a commodity market rather than an equity market? The answer is NO.

I was recently thinking about the recent popularity and success of the CME, especially the tremendous growth in volume in the Eminis over the last few years. My theory on this is as follows: The PDT rule made it difficult for the average inexperienced trader (read: sucker) to get into the...

I think the editing time should be less than 10 minutes.... If you cannot get your ideas across correctly BEFORE pushing the 'Submit Reply" button then be more careful and considerate of what you write. SLOW DOWN and take care in what you write. Its pretty simple IMO. BTW you should...

Steve, I think this is what CW was trying to say: If the price drops tommorrow then the market will go down, of course, if the price risies then the market will go up...:D :D Couldn't agree more CW...LOL

Correct me if I am wrong on this: Since Penson offers a sweep feature and they clear both equities and futures - you simply have to find a broker that clears with Penson. I think you are missing the point with your above comment - the broker in such a case does not sweep into a money...

Thanks Winter, I was just about to mention this. I am cleared through Penson and they do about 3%. This is substantial as I am usually in cash by the end of day. I use a very good broker - great comm and very good service. I highly recommend them as I've been a customer for 3 years now and...