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I am not a great trader, but I can't live like that. Back in December, I had a perfect short setup and took it. Trade started off well, but then there was a quick up reaction, just enough to take out my stop. Then the NQ tanked about 20 pts. I had been stopped at the high tick of the day...

One thing I do in the post-mortem, which you also might like, is to also note the best exit method for the best trades.

Maybe you can help me put together an international futures trading schedule. I'm trying to branch out a little bit here. I know the U.S. stock markets but that's about it. Maybe something like this exists on the web somewhere, I don't know. Market / Time / Active...

I started a thread a while ago about discretionary entries and exits. No one seemed interested... but this is what we face: entries: too loose means lots of small losses from lower quality trade setups. However, you catch all of the good ones. Too tight means you avoid all of the lower...

Yes, I exit trades if they start looking bad, even if it hasn't hit my initial stop. Either just a market order, or I might move my target to breakeven and tighten up my stop. But I also set a proper stop from the beginning, where I would consider the trade to have gone bad. Thus the...

After reading your journal for a while I realized you didn't have any technical trading problems, that you knew what you should do, but didn't do it. So the question became, 'why is this guy putting himself through this.' I thought about when I was in the same sort of hell my first year or so...

It could also be that he is not letting his winners run enough. Paulus, take a look at your exits too. After each day make a note of what the best exit strategy would have been, for each trade. After 30 days you'll have a good idea on what the best exit strategy for your method is...

What are you using to generate the buy and sell signals? I could not tell from the chart. The only indicators I find worthwhile are those based on volume. Instead of price-based indicators, you can just learn to read the chart or the tape. Check out Woodie's CCI club if you can't stand...

I hope i'm not taken out of context in that last post. I'm not being sarcastic, I meant what I said. Just calling it like I see it. Could be wrong.

I see it now. I don't know what the odds are for hammers on the 5 min chart, only the 10 m. On the 10 m there is about a 50% chance of 2x payout per the risk. I assume it only gets worse on the shorter time frames. I have had a lousy time with hammers on shorter time frames than the 10 m...

Hi Flash.. sorry to bug you on a down note. Entering on pullbacks is great, I do the same thing. You've probably also seen the "Tradin' Hammers" thread. But I think you need to be more of a tight-ass with your stops on a trade like that. I saw a hammer on the 1m chart where you entered...

You can get that with QCharts.

Afterburner wants to be recognized as a tape-reading guru. He will pay any price the market charges him in order to attain this goal. He continually lets us know he is tape reading He knows there are sound reasons not to enter the trade but asks us not to comment until the trade is...

Hi paulus, there a lots of ways to use volume as an indicator. I use it to give me a bias, rather than to trigger a trade. My trading methods are all price-based. Anyway, to the point: attached is the last 8 trading days of the ES on a 10-min chart. Notice how about 5 days ago, price started...

It all depends on how you trade! I use Sierra & IB.. HQuote pro to get historical data.. Sierra can read a text file of historical data, doesn't matter how you get that text file. If you are still in the experimental stages, and think you'll need to look at a lot of different things (SOX...

let's hear about the $6500 system

This part of what you wrote refers to a discretionary exit. In other words, there is talent involved in determing the exact moment when the trade heads against you.

We both suck:D No, really, beautiful analogy. However, some of the methods i'm using have discretionary entries and/or exits. Let's get concrete. Here's one with a mechanical entry but discretionary exit. It enters on 3-bar pivots when the previous high/low is exceeded. That's...

Like anything else, there are some honest ones out there.

OK, I just meant to draw attention to entry and exit style and temporarily forget about anything else. Also, you mean a winning trader must preserve capital. As you know most traders do not preserve capital, they lose it. Also, back to the slide now, I find that the fear of being at one...