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I try to use them properly; Thats what my rules are for. :)

Thats more of a list of words than a set of rules. How do you know what all professional traders do? You can't possibly know all off us.

I would not call those Rules, more like guiding principles. You can enforce a rule or at least know you've broken it. Rules would be more like: Only initiate a trade when all criteria are met. Set hard stops. Risk no more than 1% of capital on any one trade Have a written plan...

What is your rule if you have a losing trade? Why would one be different from the other?

It is completely your choice. You have the opportunity to elicit a great deal of help from a trading forum. You have to sift through the bullshit of course. Every trader is different and what works for them may or may not work for you but you might be missing a great opportunity by not asking...

So why not ask for help?

The fact that you have set goals bodes well for your future in this business. Also because you are satisfied with your progress I assume that the goals were specific and measurable. You are taking the right track in being more concerned with learning than you are with P & L. In trading...

How's it going? You been at for over a week. Are you getting the "right" thought/analysis process going. How do you know if it's right? What are you comparing it to? Has the time spent been worth it? If you had to give yourself a mid term grade what would it be?

Are the Pundits not rationalizing what the market has already done? If Obama farts and the market drops then the pundits come up with a reason why. Everybody was standing down wind and had to move quickly to stave off the unpleasantness. If the market goes up the reason becomes that it really...

I glad you wrote it down . It will help reinforce that belief in your mind. I have different beliefs but thats just me. How big is your sample? How many day traders have you met? What seemed to be the biggest reason for their failure? Can you nail it down to any one thing?

+1 I always question the motivations of those who feel they have to save me from myself.

Yes I read a lot of trading books. After all I’m a self-taught trader. You have to start somewhere. I haven’t read the one you recommended but I’ll put it on my list. Who do I think the people with perception all one way are? They would be what is referred to as “Dumb Money “ or...

Theres not much difference between the two, just a bit more detail.

That almost sounds like a plan.

Nothing works all the time. You know its a probabilities game. The trick is to have bigger wins and smaller losses and to stay in the game. I keep on and on about a trading plan. What a plan should do is focus you on how you will accomplish what you want to do. You write down where you...

If you followed your plan and failed then you know why you failed. If you didn’t follow the plan then you have to take responsibility. If nothing else you have found a method that doesn’t work. You don’t have to change the plan you have to come up with a method that works. If you...

Airwaves: You never did answer my question about a trading plan.

I’ll argue this point. I’d say the plan has 90% importance and I’m willing to bet that very few failed traders had any kind of a plan. I’d challenge any failed trader who had a plan and followed it to put it on the forum. It didn’t work so you don’t have to worry about anyone...

Do you have a trading plan? A written plan that you could give to someone else that explains what it is you are trying to accomplish and how you are going to get that result.

Can you tell us why you are not being as sucessful as you think you should be? What method are you using? What system have you used for any lenght of time that didn't work?