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I will like to contribute a gem that I have learnt from painful experience for everyone's benefit. When I started trading, I never kept any records for first 2.5 years. I have started maintaining daily,weekly and monthly records in a spreadsheet from September of this year and I regard this...

My patience and to some extent lazyness :) is paying off. Portfolio is up nicely. Time to book profits. Current positions are as follows: AUD 100k EUR -400k EURCHF 100k ES 2 GC 1 Going short AUD as a start. Taking following trades today: 1. Sell AUD 500k (to get net short 400k...

out 1257.75

long 1256.5

nice observation. Thanks

Wow! That is really a good mental exercise. Should definitely help to improve number of days a trader wins, mostly by cutting down on 'not so sure/maybe' kind of trades that a newbie/unprofessional takes. Thanks for the tip!

Thanks ammo! Every small win helps to build confidence :)

out 1254.5 I was hoping that it will get upto 59, but it just seems to have stalled. Will rather prefer to miss out upside than giving back all the points I have made. Seems we are still in the holiday mode, and 9-10 point range for the day could be the upper ceiling.

you missed it but definitely good call!

long 1249.5

well said. In my experience developing an edge/trading-setup is easier than sitting patiently waiting for that opportune moment to come to strike.

Thank you Sir! :)

out 45.25.... 1 trade and winner. done for the day.

nice trading Satchel, you have been calling for this bear run for couple days now. Great patience :) I have a trade on - just put the trade and stop and walked away. Trying to keep away from trading during holidays just to get some kind of break. Reading Mark Douglas.

short 1248.5

I sometimes scan through my span folder to doublecheck that some genuine message is not going into it. Today I got this - these scammers always look for new ideas to fool people!! Namaste, My name is Asha Rajaratnam,I am the wife of Raj Rajaratnam founder of the Galleon Group ,New...

Shopster, First I must salute the effort you have made to go through so many of my posts and dig out those statements and post them here. Just awesome work, I am amazed ! However thinking over what you have posted for more than a day, I have been trying to understand what message you want to...

Hello, Thanks for following. I will describe my screen arrangement for you. Extremely basic. For Fx, I have 5m, 30m and daily charts of Euro and 30m and daily chart of Aud on my screen and 1hr and daily chart of Yen. Only price, no indicators. This is the stuff I make money on. For ES, where...

Update for week 21 ending Dec 23, 2011 : -100$ for the week. Went short AUD at 0.99 and it climbed till 1.02 the next day. I reversed position and went long at 1.004 and added to the position when I was 80 pips in the money and closed the position right around top (near 1.02). Very good...

Thanks, it was very clear explanation. Got it. The way to do would be News/Market scans to figure out what is moving today at high volume, trying to find sustained moves. And I am adding in here the approach your trader friend took - about not the stocks that moved today, but the stocks he...