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The OP's strategy failed when market conditions changed. Failure of a strategy isn't a problem in and of itself; you can re-evaluate market conditions and change the strategy accordingly. I'm going to venture a guess that the problem was that the OP was successfully trading a strategy without...

This is the kind of thinking that brings gambling addicts to their darkest days. Neke doesn't need this kind of bullsh*t on his journal. He's had $60K trades in the past and knows that a home run or two can "bring him back". He puts on big trades expecting big profits; that's his style. Sadly...

Absolutely. This is exactly what "gut feel" is. The more screen time you get, the more internalized patterns and crowd reactions to them become. My first 3 months day trading I used a couple strategies I learned based on candlestick patterns. Although I had many fantastic trades and made...

Great advice from Wilt and LongScalper. NAV broke through previous resistance Monday and that's a signal to wait for confirmation of a breakout or false breakout before shorting. More importantly: News You see the earnings capsule and make a decision based on "good" or "bad", but...

A lot of institutional money does its buying in the last half hour of the day. Many of these players are entering the market for the longer term and a lot of stocks are still considered "bargains" at these prices. They are buying the "dips" and by the end of the day yesterday many fundamentally...

http://www.urban75.org/useless/bored.html For some real psychological return-on-investment, you could become a Big Brother and teach a poor disadvantaged kid how to save up $500 working at MCD's and become a successful FX trader.

Adding this one to my wall of wisdom :D

Hey David, thanks for you kind words! You may notice that I trade a few stocks a lot over time until they "fizzle", because I've studied the charts in depth and know the "personality" of the stock. For example, this month I traded ESRX, JCG, STEC, SYNA and URS a lot to the short side...

Neke, you are not listening to the market; you are deciding what the market should do and refusing to believe it when it doesn't do it. I wiped out 30% of my first quarter gains in April by doing this exact same thing. Fortunately it was my GAINS I wiped out, not my core capital. If your...

Hey Jack, I think these kinds of overnight holds are not bad. I almost shorted HAR into the close, but it felt so good to be flat into the weekend that I decided to leave it that way. HAR is very overbought and pulled the perfect distance from its 20-day moving average to take a dip back...

+ $280 +$207 Week +$1703 Month Not too pleased with the income here, but I guess I can’t expect much more with 200-400 shares. Time to kick it up a notch, since I seem to no longer have a problem with exercising strict risk management. It was actually order entry issues that cost me...

+$280 Day +$207 Week +$1703 Month I could've called it a day an hour after the open, had a day off, and been $33 richer :D

Hey Steve, with this ES paper trading, I'm taking whatever the market offers and practicing strict discipline using a pre-defined set of rules for trade management.

- $192 Had no idea I left a target cover order open from a closed trade yesterday, only to myself long something that was gapped down nearly $2 in pre-market. Why can't these mistakes be in my favor??? Spent most of the day with my training wheels on, learning all the nuances of IB, such...

Bob, it's just a minor loss in a majorly MAJOR month, and I think you absolutely did the right thing. How many times have we as traders started risking a more of a loss only to keep edging it until, as you say, it "gets away" from us? I sure have. My pre-market NTES issue was similar. I...

- $192 Opened IB this morning and freaked out. I was long 200 shares NTES @ 37.61 and it was already down to 36.32 in pre-market, so I offered 36.39 and started the day in the red before the opening bell. Later in the day it climbed back up into the 37.50’s before falling again, but with it...

Hog, my ES paper trading today went perfectly! Entered long @ 944.60 off the 9:45 a.m. bar. I had the patience to stick with the trend because there was no 50% retracement (though it came very close to my 945.50 stop). After ranging around a while, the uptrend remained intact and the 1:15 p.m...

After 1 year trading I finally got to this point CONSISTENTLY less than 2 months ago. There is no better feeling than mastering the ability to cut losses quickly without emotion. NOTHING has given me more confidence than knowing I have a stop in place at my max loss and I don't even for one...

Bos, you're welcome! I've learned to use both the intraday 20-period moving average and the 20-day moving average on the daily chart to guide me in entries and exits. I attached a chart of NDN, which my husband traded briefly later in the day to scalp $150 off a move from overextended back...

+ $261 Set limit @ 28.90 DMND because I’ve held this one for so long and I was ready to move on: +$86 (Problem with holding stagnant trades too long is when they finally break your direction, you tend to exit too soon.) Went to short JCG @ 26.90 and it fell .50 cents out from under me...