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In my view the trades are independent... BUT the traders emotions are not. People's emotions are non-random because if I feel bad now it is likely that I will feel bad one hour from now. So the one reason to reduce your bets is to keep your emotions in check. For example when you had a super...

You can learn very fast but you wouldn't know it. You need at least one year to tell how good did you do. Let's say you make 100% for the first six months of your day trading - this wouldn't mean much becasue be the end of the year you could give it all back and those 100% won't change the fact...

I think you are right. It's all about confidence. The more confident you are the more money you will make in the market. The tricky part is that the confidence is created forwards not backwards :) Eventhough you underperformed your own system I think this is quite normal. You didn't have...

What makes you not to take a signal generated by your system? What other factors do you consider? Overall market, news, fundamentals...? Gut feel ...? Setup doesn't look perfect..?

It is possible but only in a very thin stock. Market makers have very limited influence on a stock's activity unless it is very thin. If the stock is strong (that's the stock you want to be in) any attempt to push the stock down will be met with fresh buying and it shouldn't get very low that...

That's an excellent advice too :p A swimming pool can reduce the volatility in one'e equity curve :D

You shouldn't let that stock go to $9. It has to go up 44% to reach your target in less than two weeks which is very improbable. Therefore you have to sell the stock when is goes to $10 and reevaluate the situation or better look for another deal. Even if we assume that the stock can go from...

KLAC went up to 51.44 yesterday on relatively low volume (like many other stocks). Do you see a good short opportunity here? I went through hundreds of charts yesterday and they all looked the same - pullback to recent resistance or EMA(50) on low volume within a major correction... Is the...

Yeah, mine too :cool:

Luctrative1, check out this thread If you had to name one quality to succeed in trading, what would it be? I believe it answers some of your questions. You will have to go a long way before you can tell what exactly do you want to do. Have in mind that the corporate mentality and trading...

TradEStar, You are correct! I did have a short rather than a long bias (broken supports,big down volume, etc.) but since I wasn't confident of the magnitude of the move all I could have done is to enter a very small position or just play a day trade. I preferred however not to check if I am...

ChartingMarkets, I appreciate your chart analisys for its objectivity and accuracy :) Could we say that if the trader cannot determine a probable future direction, the best thing he could do is just stand aside and wait until the technical landscape clears and some high probability setups...

What was your target price or how long did you intend to hold the position when you initially entered it?

You can't tell if a trade will be a winner or a loser in advance.... "You can't tell till you bet" (Livermore) What you can do is move your "far away stop" closer and protect a part of your paper profit. This is the only thing you can do. You can protect your capital. The other thing is to...

The stock closed 69.61 the day when the above was posted (it shot up 50% that day, on volume of 58 mln shares). I didn't believe it back then but now 69 days later it is a fact - RIMM closed at 100.79 :)

I think it could be done but very important is that the traders have the same skills, experience etc... They put the money in a partnership and trade their own stake. They win however only a share from their own profit/loss equal to their share in the venture plus the same share from the...

The idea would be perfect if you could replicate yourself instead of having some other people trade with the pool money. I mean if I could for example trade different timeframes, different instruments (stocks, bonds, forex, futures, derivatives) I would probably have a higher profit factor...

Compare the two charts and place your bets :cool:

This is easy for me but I don't know if it will be easy for you - every time I enter a trade I ask myself if I feel I did the right thing, I don't look at the quotes after I enter, I just ask myself did I have good reasons to initiate the trade, is the market strong or weak, did I prepare myself...