Search results

Of course you can, What do you need to be a trader? An online brokerage account; a computer or phone with Internet access and a trading platform. Can’t think of anything else you really need. There are no other requirements. You don’t need a licence or any kind of formal training. You...

Ya; you have to ask yourself ,who is this guy Murphy and what in the world did I do to piss him off. It's a tough market. I'm impressed with the discipline.

AET Aetna trading at 40.40 ???

No haven't read it. Stumbled on the ad in some of my aimless wanderings around the web. Lots of hype but available only on the web site so I took a pass. I tend to agree with the premise though. Human emotions make this game a lot tougher than it should be.

From an ad for a book on trading psychology but it probably belongs here.

What criteria do you use to determine where to place stops? I have been using what I refer to as a mental to fixed stop method. I caculate a stop when I enter the trade. I will let the stock trade thru that price then set a stop in the market below the bar that the stop was violated. The...

I have found IB tax reporting to be very unreliable. you probably have to spend the time checking the numbers anyhow. I'll vote for your feature but probably won't use it.

Where are you moving the stop to? One thing about posting a journal the more specific you are, the more you test your discipline.

I use the percent of total capital rule to protect myself against black swan events. Overnight gaps; trading halts; stock dropping so fast that stops are not filled: I understand the Tharpe Method but don’t want to risk all my capital on one trade even if it is only a theoretical risk of...

Regarding position size do you have any limits on the number of stocks you will hold at one time or the maximum dollar amount one position will amount to? In my case I will not hold over 8 stocks at one time. I will not tie up more than 15% of my account on any one trade. I usually shoot for...

I'll have to re read Elder; it's one of the few in my library I haven't given a second look.

Which brings up the question of position sizing. I use what I call the Van Tharpe model,(happened to be the first book I read about it:I've seen it mentioned by others since) of risking a percentage of my account on each trade.

We certainly differ on methodology. My best guess on THI is a pull back to the 48.50 area, then a retest of the highs. If it gets thru 51 then it might take off. As Yogi said, “Predictions are difficult especially about the future”. Questions about your charts? Don’t you look at...

Sorry about that. I don’t have those trades on file anymore. I don’t use BBs or price channels. I watch S&R, volume and the trend. I’ve tried optimizing the system but by the time I get it figured out, the market changes and I have to readjust. At this moment I’m sitting on my...

It’s been a while; so I have probably filed most of those trades in the big round filing cabinet. What that journal did was to encourage me to keep my losses small I still use a breakout strategy and I still get stopped out a lot. It doesn’t take too many big winners to overcome a bunch of...

Hey your having a discussion with me:D It helped me as I followed my plan. It will depend on how much of your strategy you reveal. I wouldn't be too concerned about people stealing your system, you could spell it our step by step and most wouldn't have the discipline to follow it anyway.

That was quite a while ago; back in 2007. Search "Follow the plan" in thread titles. Not a very good read. Mostly buys and sells. Might have been interesting at the time when you could follow the trades.There was not much discussion which is why I stopped posting. Still using the same...

Got a target?

Looking forward to your journal. Nothing adds to your credibility more than posting in real time. I found that although posting screwed with my emotions it also made me accountable to follow my plan. I found it easier to admit to being wrong than to show my lack of discipline by ignoring...

initiative noun 1. an introductory act or step; leading action: to take the initiative in making friends. 2. readiness and ability in initiating action; enterprise: to lack initiative. 3. one's personal, responsible decision: to act on one's own initiative. Are you sure you are using...