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Thank you all for your contributions. I spent some time this weekend going over my trading plan. I figured out my problem. I want to catch the large intraday moves like the one we saw this past Friday. But on the other hand, I don't want to give back 15-20 pips profits. If I take the 15-20...

Thanks illiquid. I think most people are trained to work hard to solve problems or fix things. To be a good trader requires a lot of hard work too. But the hard work should be done when one is searching for a trading style or identifying edges. Maybe we switch to this hard work mentality when we...

Thanks! I'm doing this full-time but still I can't justify a "pro status" yet with the unnecessary drawdowns I have.

You wrote it well. Sometimes, it feels like I'm punishing myself for deviating from the plan. Anyway, how did you manage to plug this leak--just enough pain over time? Or does it still pop up once in a while but less often?

I thought I removed it but the damn thing weaseled back in.

I trade the EURUSD futures and they're most liquid 8am-2pm EST. This means that I get up at 5am and done by about noon my time. I tried trading during Europe open too but thatwas too much taxing on me.

My biggest weakness is trying to make up for losses that are due to deviations from the trading plan. At best, I break even those days, or dug deeper holes. The only solution I see is to have a very simple and clear plan and just follow it.

I completely screwed up today. First, I ended up shorting couple of trades just after the 8:30 EST numbers came out. My stops slipped and ended up losing more than I was planning to. Then I got chopped couple of times at the top. I was able short very close to the top--trying to catch the top...

I know the exact feeling. I was tired this morning too. And all these trades, I screwed things up. This is why I try to keep the plan simple. When I start overtrading I go into shorter timeframes where I don't have a well defined plan. Yes the buyers seem to be hiding now. Now I think there...

CME is adjusting margins. New margin For EC is $2700 down from $3240.

I'm doing terrible today. I'm in disaster recovery mode. Again I ended up overtrading!

I'm down to about -8 ticks now. Lately, I end up on the wrong side after the eco number releases. Actually, not wrong but entries are early and usually the market trades in my original entry direction after 7-8 minutes. I need to test some fast moving average and follow that for my entry after...

I'm down about 20 pips recovered from about 40. My stops slipped twice costing extra 8 pips!

It's time for couple of stiff whiskey+diet cokes & nuts and some TV action. I swam hard this evening and completely relaxed me. Today's trading almost melted my brain!!! Good luck to you all Asian+Early European session traders!

gwac, I also recommend Interactive Brokers. As our friend in Brazil pointed out, their commissions are reasonable and they don't BS you. Regarding trading full-time and how much you need to trade, it depends on your style/time-frame. Just make sure that you have enough money to live on...

Nice job in turning around the ship! Well, I made that "one last trade" which was on the long side and cost me 9 ticks relatively fast! So I'm closing the day with +24. What a day! Lunch and nap time for me :)

I managed to catch most of this last slide. Now, I'm back to OK +P/L. One more short here. Hopefully, it'll be the last one for today. Edit: I got my second short too. This slide made my day. +33 ticks net for the day after comish. I'm embarrassed to write how many round turns I made...

For your style, I agree that following QM closely will distract you. Less is better. Do you mean we'll break upwards today? I think we saw the high for today. But I agree with you that chances of going up is definitely stronger than going down.

I was talking to a woman at my gym yesterday. She knows that I'm trading and asked me questions about it. I told her that I'd like to catch trends. She said then I have to wait for a year or so! When I told her that I'm looking for 2-3 hour trends, she looked at me as if I was from Mars :) I'm...

QM sometimes pulls EC along with it. Today is one of those days. Some days there's a 0.8-0.9 correlation between them. I keep on switching sides. Today I'm working for CME and IB! For a while total ask became very heavy but now they're almost equal.