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Was something wrong with the way you were trading? From what you wrote in this journal, the problem was not sticking to the system, not the system itself. If you can go back at look at your trades, and quantitatively identify something that's not working, then get rid of it. What was your...

You might find one trading day you will be pissed off again. What you do then is what matters.

I think only you can answer the question, because it depends on your style. I've been trading 2 contracts, targeting 4-5 pts on the first and 10+ on the second. A rare very good day will make $500-800. A typical winning day is more like $200-500. A losing day is like $200-300. My style is...

I agree with you 100%. I did it before I learned about MM. Like most beginners I only thought about entries. Not exits or position size.

I would take a statistical approach. It's always going to happen that we get stopped out of a trade that turns out to be good. The real question is, how often does it happen? It's really a tug of war: the tighter your stops, the more losses you prevent, but more good ones get away...

Gather all the strategies together you'd like to trade. Make a list. Trade all of them on a real-time simulator for a few weeks. Note which method was used for each trade. At the end of the period tally up the results. See what works for you. See what you like. Now simulate a few...

Wife with cast-iron frying pan at the ready? WHACK! :D

You'll adapt and you'll kick some butt

For me it was blowing out a few accounts. :D I can identify several key turning points (and I'm always looking forward to more). These are basically in order. Realizing that no person or indicator can predict the future. Trading a mechanical system, even when I didn't "agree" with...

On the real-time simulator, working on position sizing. With a discretionary method, it's a tough thing to back test, so i'm forward testing it. I'm trying to figure out if it makes sense to add contracts on repeat signals.

I could also trade it looking at time and sales, or watching the tape, but I prefer to see the data. There are no secrets about trading pullbacks. I am not disagreeing with your point about underlying stocks and sectors. I am just making the further point, that the method, and the way the...

Now I see, you are talking about the use of intraday chart patterns. Different from the use of intraday charts. To look at it another way, you could trade your method by looking at an intraday chart of the same data you normally look at...

So you are looking at the same data, just not a graphical representation of it. My trading brain works better visually.

Probably the other way around. He wants to read the news, buy, and watch the futures rip 20 pts in his favor, which makes db's comment all the more appropriate. Anyway it is very important to have guys like db around... realists who have no problem pissing in other's cheerios. Folks with...

or perhaps, wait until you can draw a down trendline and short the next time it touches, exit if it closes 'too far' above. for another method see the "emini divergence journal" thread. That guy successfully picks tops and bottoms using three indicators.

Regardless of your entry method, after you open a position the next few bars are critical. You can save some bucks by getting out before your stop is hit, if you can recognize that the trade doesn't look like a winner. Example: NihabaAshi wrote last week about trading hammers: if the next...

If I had to short this one I would wait for the first pullback after a downtrend was established. Right now, it's still trending up, so by my standards way too early. At the very, very least I would wait for it to close under the previous day's low (with stop above that day's high) and it...

Tripack is just saying if he shifts the origin, he can make a hammer turn into something else, for example. True. That's why you need to trade candlestick patterns, not single candlesticks. That's the single greatest thing i've learned from NihabaAshi. If you shift the time origin you'll...

Please tell us so we can learn!

appears there is another OBV divergence on the 10 min NQ chart. This time price made a low equal to the last, but the obv made a higher low. This to me means the selloff this afternoon was light-handed. Thus i'll be especially aggressive with longs tommorow. e.g. pullbacks on the 1 min...