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All traders have to do only two things, the rest is optional: (1) enter (2) exit ! Today i'm evaluating my performance with this slide.. (attached) May you'll find it useful to think about too.

Funny, I had one losing day last week (tuesday), so I took a good look at what made that day different then the rest. First, I did a lot of reversing. In other words, if I was long and it starting to go against me, I found a reason to go short (there's always one or two if you look hard...

Good advice, but it must be implemented in a sound way. There is nothing wrong with buying a breakout high for an entry signal. However, looking at the chart you posted, that's not what you did. You bought well after the previous breakout high. See how the volume peaked and price...

"Maximum Adverse Excursion" and "Maximum Favorable Excursion", just looked this up. Heh. My columns are labelled "Pain" and "Max". Very important I agree. A statistical study may show, say a two point loss on a trade in the results, when you could have closed it for a ten point gain (if...

Well Vision, I can think of three ways to solve your backtesting dilemma: abondon the stochastic, as others have suggested. You can still trade double tops and bottoms. Just wait for your favorite reversal pattern near the hi/low (candles: inside up/down, hammer, shooting star) or to...

I always had better luck waiting for a pullback. At least the trend is still intact, the bad entry may not matter in month or so.

If you trade off of charts, backtesting is best done by hand. Fill in a spreadsheet as you go, with the date and time, for each trade. After this you can go back and study the winners. You can get a feel for what winners look like. Same goes for losers. It takes a long time, but you can...

How about "I am a wanna-be intellectual without a trading account who really doesn't know jack s**t" :D

You should have a look at this.

Grab a profit on the first half, stops to b/e on the second, take a nap. I know it's not a particularly smart thing to do. But it helps me with my "exit too early" problem and relieves stress.

SierraCharts $7/mo (need IB or myTrack acct) HQuote Pro (one time charge $55) for swiping free historical data, display in SierraCharts. I used to use QCharts, but find the above setup superior. It took a little getting used to though.

I use TSim+ because it keeps your trade log including times. It lets you annotate it along the way.

If you are so new that you've never experienced a losing streak, you might consider waiting to experience your first one on a simulator.

I'VE BEEN LAUGHING FOR 10 MINUTES NOW:D

Here's a link for indicators that this woman you're out with is interested. The author says you need 4 out of 5 for a good "entry signal".

Here is a fun exercise. Ideally it would be nice to sit in a room full of newbie traders and watch them. Since I don't know any way to do that, the next best thing is an online casino blackjack table (or a real one if you can). I put $100 in and bet $1 at a game, but just so I can hang out at...

That's exactly right. First, I use pivots as an entry once i've decided to trade, I don't trade a pivot system. Same goes for 3-bar reverals. On the NQ3M, only 26% of the pivots on the 3m chart afforded an opportunity, however brief, to earn 7 points or more. Like anything it comes down to...

could be deadly is a very severe understatement. I think trading 1 ES on $500 would incur a 100% risk of ruin for anybody. Take anyone's trades for a month, plot out the equity curve, now randomly rearrange the order of the trades an plot it out again. You will easily find 10 ES point dips...

..I hate trading options because you can lose money even when the market moves your way. Not so with the futures.

Or anything else... this is nothing new. Most folks would rather spend their money on gadgets-- the best clubs for golf, the best supplements for weight lifting and sports, diet pills, etc. etc, then put in the hard work over a long period of time. Tiger Woods could beat most people at golf...