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KP.... this is your weekly reminder to "write down a specific trading plan with a single setup that you have reviewed many times by looking at the hard right edge"..... reading your posts, you still don't have a single setup that you can look at the hard right edge of the chart and say...

KP..... be sure that what you are now drawing in is something that you can draw in "prior" to any setups or entries and in real time as bars are formed on the "hard right edge". If you can't, then they will not work for real time trading. cheers toucan

this is my weekly reminder to finish your trading plan :)

KP.... did you ever write down your trading rules/trading plan? cheers toucan

KP... Your trading plan can be as simple or as complex as you want it. It's up to you, what you are comfortable with and can use in real time trading. There are not thousands of different combinations... for example: price direction is either up/down/sideways... you just have to use...

KP.... ahhhh.... tick charts... some people think of tick charts as 1 tick charts... I use tick charts because I can automatically calculate things that I can't with time based charts. My tick charts run from 100 ticks per bar to 3000 ticks per bar, depending on what symbol I am trading. I...

ND.... your above 2 posts are spot on.... this thread is getting good... great job toucan

KP... i ran into a max problem with elite so I have a second post.... you asked for an example of a trading plan.... I have broken mine up into several sections so when i am trading, i only have to think of a few critical factors... I have included a few items under each section to show you...

KP.... You are making progress.... I highlighted some things that you wrote that can be important. I need a trading plan/I clearly need a trading plan (this is really important) firms rules about getting in and getting out. (without this, you really don't know what to do) And yet I feel...

KP one thing you might add to your process of trading reversals.... for example: if price is moving down into a zone where you think there is a reversal about to happen, either wait for X consecutive bars up and enter with a market order.... or enter a stop market long order that will trigger...

"So if I'm going to have any chance of long term success and not end up going crazy, I really need to formalize a solid trade or 2 and just stick with this for at least a week." KP... Yep.... define what a trade looks like for 1 or 2 setups and then try that for a week. Given that you are...

A TANGENT Just before I go, there is one thought that popped into my head. I have a sense of what other traders are doing based on their journals, and I understand the technique that Db teaches, but this still doesn't get close to showing me how someone trades, or rather, how a good trader...

Its good that you are using oco orders to place both initial stoploss and target. I assume that by now you feel that your stoploss and target are the best for the way that you trade. But you say that you go a little crazy protecting tiny profits... so the problem is managing the trade within...

KP Its interesting how your trading plan shrunk as time went on, and yet others have a plan that is more specific and just keeps growing. This certainly shows that each trader has to be comfortable with how they trade. Yep.... all traders are different.... thats what makes a market work. The...

KP... 7 years ago, I switched from daytrading stocks to daytrading futures and had to develop a new trading process that was a better fit for the futures shorter term price moves. I started out with a trading plan of about 15-20 pages and sim traded for about 18 months. During this time...

:) i can see where you would think my chart is busy... a little explanation... 1. The vertical lines are time...For the first 3 hours after the futures open, there are lines every 15 minutes and lines every 30 min after that. i tend to trade news and open/closes... for example, the...

KP quote: "The trendlines are tricky. Ideally you want to use the swing points, but often you don't know what the swing point is yet. Its easy on the chart at the end of the day, but in real time, not so much, and this is where I struggle. Once the swing point is obvious, then the trade based...

Hi KP... I thought about you when the market opened today and it seemed like it was going to drop again today... so I too shorted nq but was in earlier and ended up breakeven on that trade. Price had a good move up before the market opened, then got close to the high of yesterday and...

Hi KP.... nice journal. excellent job describing what you are doing. A few comments on your chart: 0. First is that I only took 1 NQ trade today. 1. I don't use moving averages or trend lines anymore. For todays price action, I looked at the high of yesterday (sunday) as resistance at...