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When I was in Chicago, taking a class on how to be a pit trader (1997), Mickey Hoffman used to tell us to do a trade, make a tick, do a trade and scratch, do a trade and lose a tick. Just get in and get out. Get in, get out. I still do that when I'm cold or can't get out of my own way. It was...

Short USD CHF or just short CHF?

Little bit of down pressure on USD. Too early to tell at this point. Yes, GBP looks higher here. Nice cup and handle on bigger TF. Staying out as long as I can. Usually you get chop after a couple of days of good movement.

Interesting. But how would it compare to not a single position at 10k, but a full load based on your risk tolerance? Aren't you giving up a lot right off, lowering profit overall? I mean, sometimes I'll scale as it goes my way, but mostly I want a full boat on any breakout. It's either going to...

Where does this endless supply of risk capital come from?

I would add Ed Seykota's Trading Tribe, and his website, especially the FAQ's.

It's like, "Coach, I just know I can be a Hall of Fame quarterback. But right now I can't keep from dropping the ball when they hand it to me. What should I do?"

I used to do the "pages" that we're mentioned by one trader in his book. Basically you write down whatever comes to mind for a half hour. It did help to clear my mind, but I found it burdensome. Still, I try to write something in a journal every day about what is bothering me, especially...

You might also be able to develop a plan B for missed trades.

I think you answered your own question. It takes years of practice. Are you in a rush to trade? Afraid of missing a trade? I still see lots of conflict here. Slow it down and enjoy the process. You're too busy focusing on the ball to see the playing field and the rest of the players, thus...

"Oh, the Places You'll Go" by Dr. Suess. Recently returned to the first lady by a cranky librarian in my former home state of Mass. Really part of my story, as I started out to make money and somehow got an education that I never would have anywhere else.

Good thread, even if it is a little awkward.

You do know I was drunk for probably half my posts, right?

Oh no. . .

I don't hear a lot about the rise in rates-- sort of a stealth move. If it continues things are going to start to break in the economy, possibly the markets. Lots of complacency I believe. I remember a really violent selloff in bonds sometime around 1994. The stock market eventually recovered...

Hmmm. So you're saying this is a top for dollar of some sort. Well I'm looking for weakness short term as well. Bond markets seem to be on the verge of a breakdown. Can't tell who is more vulnerable. Higher interest rates and high prices seem to be putting pressure on real estate sales. Can't...

My position right now is neutral, waiting for a retracement to short Euro again. It seems the GDP numbers were pretty good. Am I missing something?

What's Dx? Dollar Index? In a bear market? Please clarify.

Covered Aussie at .7680. Covered some Euro at just over 1.17.

Short Aussie, .7688.