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I understand what you're saying. I suggest, though, that you do detailed chart reviews of both winners and losers. This will keep you on track and enable you to think more clearly when your session begins. There's nothing wrong with exiting your contract, or one of your contracts, at a...

Well, good luck. Just remember that the better prepared you are, the less reason you'll have to be afraid of the trading process.

58 is old? :D You needn't share your plan if you don't want to, but if you don't mind, did you go through the process of (a) defining a "break" for yourself, (b) determining how much leeway to allow the trade entry to go against you before exiting, (c) determining where to exit a trade after...

Well, I guess pokito gets the Golden Nail award two days running. :) You were asking about trading the hourly. This is an excellent opportunity to gather some data. The buy here would be the first retracement after the break of the SL, which might occur Sunday evening. Think about where...

Like talking to a post.:rolleyes: Although it's understandable that someone who knows nothing about trading plans would not be able to recognize one, much less be able to figure out how it works.

Appears you can't read either (the calls are in the plan). As you seem to be unable to draw a straight line as well, you're pretty much without a paddle.

If you want to make a living at it, it's also about developing a thoroughly-tested and consistently-profitable trading plan. "Accept[ing] that there are always ups and downs in trading" is a losing attitude, characteristic of someone who's never developed such a plan. If you don't want to...

You have the link.

As I've said, the calls are in the plan. If you don't know what to do with a range, I suggest you focus on that. It's pretty basic stuff. But then so is being able to distinguish between up and down. Without an array of indicators.

The trades are in the plan. But you have to be able to draw a straight line. And read. As for your journal, it wasn't begun, as was this thread, for the sole purpose of attacking my trading plan. As for whether your journal is up or not, who cares? You have no plan. Unless (a) you can provide...

You appear to have the same unerring (not) sense of direction as your friend. Ever consider putting together a viable trading plan? One that would help you distinguish between up and down? I know of one. But it involves being able to draw a straight line. Think you're up to it?

To GAR: if you start putting people on Ignore as you go through those threads, you'll get through them a hell of a lot faster.

4470 would be a shame since The Squiggler would be back in the hole after all the effort of the past week or so. Scribblers, on the other hand :D As for the short, that would depend on the DL. That's the halfway level, so the jockeying will at least be interesting to watch. The ES rejected its...

Since the above chart was of interest to a few people, the following may also be of interest. These are the sorts of "notes" I make to myself when getting ready to trade. A range is always nice as trading it is so simple. But traders don't always provide a pre-market range. Instead one must...

A man can't spend years at one thing and not acquire a habitual attitude towards it quite unlike that of the average beginner. The difference distinguishes the professional from the amateur. It is the way a man looks at things that makes or loses money for him in the speculative markets. The...

A losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform himself. That’s the kind of thing winning traders do. --Ed Seykota

It helps to understand just what climactic action represents, the difficulty sellers have in finding an ask that buyers are willing to pay, and if sellers become desperate enough, they may, as with a parabolic move, have to lower their asks substantially (if one looks at a tick chart, he will...

This may be of interest to those who are maintaining private journals:

No, it's based on rules. No crystal ball is necessary. In fact, bias is a distinct disadvantage. Having rules does not mean that one is a mechanical trader. The trader without rules is simply gambling. And given that the SLA has far outperformed the "grail" method, and will always do so, the...