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Wrong time frame. After the 3554 low on the spike, it never traded lower. Your chart shows a low at 51 and 48, so doesn't match up at all

Sad to see this journal end again sstheo, but I'm sorry to say I'm not surprised. You're trying to make lightning fast decisions but have, from what you stated, a 10 step process of analysis before entering a trade. Of course I realize its not like a checklist, but its exhaustive. With this...

Not to open up a can of worms, but it has been stated here in the past that Hershey passed away broke. If he could not turn his supposed ability of reading and predicting the market moves into cold hard cash, then I'm not sure how much value there is any of it. I didn't see any application...

First we have to get the facts straight. There indeed was a huge sell order that ate up all the bids on the way down. The following is a one second chart. As we can see, it happened in one second, and very quickly retraced back up, then slowly back down again to test the low before making new...

I think though that this is exactly what he is trying to achieve. He wants to know where he needs to get out to be at least break even on the whole trade. It doesn't matter if you make $50 on the last contract if you lost $100 on the first.

I think it really breaks down into only 2 scenarios. You either have an edge, or are confident in your ability to trade, and hence, at no time should you stop. 3 or 4 losers in a row is nothing, just like 3 or 4 winners in a row. If you stop trading after a string of losers, you are more than...

He is talking about the Pattern Day trading Rule. If you were to be trading stocks, you would need at least 25k in your account in order to make more than 3 trades in a week (or something like this). If you dip below 25k, your account is frozen. So the idea is that traders with small accounts...

Out of curiosity sstheo, how did you blow your previous accounts? With your trading in these past few journals, it seems almost impossible. Like you say, even if you hit full stop, you just keep going. To drain a 10k account would require dozens of days of going on a tilt and revenge trading...

In my experience, and just my own, each time I reverse a trade after taking a loss, it ends up being a loser as well. This of course means that instead of taking the stop, I should have averaged into the trade instead of reversing direction. Now my trade selection is perhaps much worse than...

Last time I believe you showed some charts with your trades. Will you be sharing this with us every now and then again?

Very interesting how its all within 40-60% of what happens next. I don't consider the 6-8 down days in a row to be at all significant because its based on such a small sample size. It would be interesting if they broke it down even further, like less than and greater than 1%. For example, 3...

And, unlike just about any other business, we can make money when things are going downhill fast. When many worry about getting laid off, it's very possible that have an above average PnL.

Absolutely right. Trading is about as fair of a game as it gets out there. In the workplace, you can easily have a boss that hates you, or a co-worker that has it in for you. This may very well be no fault of your own, and yet, you have to suffer the consequences. But with trading, it is...

This is where you are wrong. You had a good streak you say of 16 profitable days, but how many trades were profitable? With a 50% win rate, which can be a very nice edge, you are pretty much guaranteed to get either 6 wins or 6 losses in a row. In fact, it goes as high as easily 8 or 9 when...

Honestly, its just crazy to me that with a 5k account you will be risking $150 per trade, especially for someone going live from years on sim. Don't forget that with a 50% win rate, its statistically possible to have 5-7 losses in a row. Yes, it can be this many wins as well, but I'm sure if...

As crazy as it sounds, me telling you what you should be comfortable with, I still feel like I need to warn you. Losing $150 is very painful for anyone without a $100,000 or larger account. I'm guessing you're gonna be trading $10,000 or so. Well, it won't take long till you are down a few...

What more needs to be said if you had 16 winning days and only one losing day? (assuming the losing day isn't worth more than 10 winning days) If you are having such luck with scalping, is there a need to change anything? Perhaps these trades only work when volatility is high and a spike in...

I know what you mean. Its like so often by the time the trade looks really good, it has already gone 1/2 of the way up the range or whatever it is you were looking for. Honestly, for long term, less than 1:1 is difficult. Mathematically, it can work if you have a very high win rate. (ie...

To get out of a trade is very dependent on your strategy. Some need to see a lower high, telling them the trend might be over, others don't overstay their welcome if they hit a target that was twice their stop lets say. It all comes down to their strategy. But I do think for a trader who is...

You forgot number 4 :p. I honestly think it might depend on what happens with Trump over the weekend.