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The environment has become quite good at GTT. The San Francisco office is relatively new and at first it was disorganized and cluttered. But now they've got a nice setup, and as mentioned in previous posts, GTT is adding a second trading room in the same building which is a big open room with...

I would advise you to be very careful if you decide to trade the DAX. It moves very fast since it is very thinly traded compared to the DJEuroStoxx50. Couple that with the fact that the multiplier is 25 Euros and you have a very volatile trading vehicle. Yes it's true you get a lot of bang...

Yeah, this month has been slow. I've been trading less frequently and have also been using more counter-trend strategies. I wouldn't say it's hell...just perhaps a good excuse to take some time off :)

LOL:D

You're not alone. I am much more reversal-oriented in the mornings. I win a lot more often than I lose using this philosophy in the mornings, but occasionally I get burned a bit...that's why it's important to keep stops. JOE

The thing I like about it is that you don't have to choose direction...the market picks it for you. What I didn't show in the chart was that there is also a buy stop placed above the chop. My take on this trade setup is that everyone is watching the same charts and when they see a long period...

Only when there has been at least 1 1/2 hours of consolidation (chop-fest). I generally do not do any trades in the middle of the day. Only the mornings and the afternoon if my consolidation breakout setup appears. PEG LEG JOE

One of my favorite setups occurs when the market breaks out of a mid-day tight consolidation pattern, as happened last Thursday. I place a buy stop above the market and a sell stop below the market at levels that I feel represent a genuine breakout from the chop. PEG LEG JOE

AAA, you make some very good points in your post. From what I have seen in real life, the 90% consistent loser stat is pretty accurate. In the current market conditions especially, I am only seeing about 1 in 10 traders consistently making money. That statistic aside, I do believe it is...

I believe this is probably the first time I have responded to a GG thread...mostly because they just seem to end up being long, pointless diatribes full of name-calling and other unpleasantries. However, I wish you success, man. Sometimes utter desperation is a good thing...really, I'm not...

Good going Axeman. That is exactly the attitude you MUST have to be an effective trader, whether mechanical or discretionary. The one caveat, of course, is that you have to be constantly monitoring changing market conditions...no sense having blind faith in a system that did great in mkt...

Oooohh....weird. I'll have whatever you're drinking!! :D :eek: :confused: :D

When was the last time you took a vacation? Maybe all you need is a break. Perhaps you will have "it" back after a month away from trading? But whatever you do in life, it is best if you have a passion for it. Whether it's being a chef or a carpenter, or whatever. If it feels dreary to...

I agree. A journal is like a feedback loop...showing us what we did right and what we did wrong. You cannot learn without feedback. Some are able to mentally note everything that happens and learn without the feedback of a journal, but IMHO a journal kept daily has a better memory than we...

Joey, this journal idea of yours is excellent. As for myself, last year alone I wrote over 150 single spaced typed pages in my trading journal. It covered everything from my lessons of the day to how I felt entering and exiting positions. It also included charts for reference. Even...

If I weren't a trader, I'd be on the dole.

Good luck trying to rob my grandma of her $$. She's the meanest trader I know. A real pit bull. No joke. PEG LEG

Used car salesman. Listen, I'm not supposed to do this, but because I like you, I'm gunna shave 200 bucks off the sticker price... J/K Actually, I was an analyst with a VC firm...was a good gig but got laid off in 2001 when new VC deals started to take a major nosedive and the IPO...

My impression is that journal writers (if they are struggling and looking for help) end up even more confused after they receive feedback on their journals. The reason is that there are so many conflicting ideas/suggestions/advice. P L J

I switched to Opera about 3 months ago and cannot even imagine using IE anymore. The built-in popup blocker alone is worth making the switch, but it is a great browser in many other ways as well. However, a few rare sites still work better in IE. :mad: