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I like that idea. A well defined trade plan with precise entry and exit criteria. I think that's fine for swing and longer term trading. For daytrading, you will need a plan for entry and exit too except it's 100x faster. I guess I need to train myself to be faster. Enter long, put a stop loss...

That is the cruz of the problem. I was batting 1000 basically. Then on that last short, I didn't want to be wrong and didn't put stops in. Got wiped out. But I reshorted. on Acct1 I made back ALL of the losses and some. Net positive for the day. But it's still a horrible trade management. I...

Spoke too soon. While my first few trades of the day were correct and with direction, it's the one trade I didn't put stops on and hoping wiped out my today's again. Why is it so hard to change? Of course, as soon as I covered it tanked...

Did 4 longs and 1 short trade today on NQ! Woohoo! It wasn't much points or dollarwise! Just good that I'm slowly overcoming and getting rid of my short bias. Fixing the bad psychology. Areas for future improvements: 1) I went long right off the back because the 5min chart was up. But I could...

I stopped trading after my latest post. I have other stuff I need to attend to. Then I just checked back in. Wow. Nice a little rally. I'm glad I wasn't at the screen trading, because I might have fallen back into my old short bias habits and try to short this rally and lose more money rather...

Yes, I totally agreed with your perspective. This is how I got into this mess in the first place! LOL. There were times when I faced harrowing losses then it came all the way back. Because I was "saved" by the market gods a few times that I created this bad habits of not putting stops. Then when...

In units of NQ points Acct 1: +4.75, +1.75, +17.50, -6.75(no stop there) Acct2: +7.75, -15.25 (ouch! no stop there! hoping it will come back down), +3.5, +0.75(on the long side. haha) was doing so well until the reversal came. And held too long. The one time I decide not to put stops is when...

Woohoo! On a separate real account different then the one this morning, I was able to go long. 8.25 pts on NQ. It's not much money, but the point was that I could go long on indices. Now, I need to fix the real problem of not being able to go long on a strong rally. Fix that then I'm good.

I got up late this morning because I was not planning to trade. And I'm not motivated if I was going to do paper account. But luck would have it, IB hasn't turned my paper account yet. So, I decided to trade on one of my other real account. Made some profits on real account because the indices...

I'm a believer in Radical Transparency(aka Ray Dalio of Bridgewater) when it comes to improving my trading. I wouldn't say that I don't know how to detect a trend. Obviously, my trend detection methodology can always be improved. I think the real problem is that even when I could identify a...

You are reading correctly. Thanks for your feedback. I'm not trading with the trend correctly when I lose a lot. When I win I trade correctly with the trend. And the bias is tied to instruments. I have a short bias with index futures(YM, NQ). I have a long bias with commodities(GC, NG, ZW) etc...

Here's the thing. I bought tradingsim.com subscription. I think it's a good software to practice. Yet, the odd thing is that it doesn't seem to be helping. Or I'm not approaching it the right way. I usually go back to the day when I lost a lot of money and replay it using tradingsim.com...

In theory that's my method, but in practice I can't execute like so... I think I need to build systems to do..

Yes, I was up 86% on LFIN trade in an hour. Not the entire account! I guess the account could have been up 86% in a hour but that would be imprudent. Too much size. Your perspective is wise. I have recently started looking at Quantopian and Quantconnect to start programming up my systems and...

Interesting. In theory, I'm an intraday swing trader for NG, GC, YM, NQ, JPY, ZW, ZN, and occasionally stocks. I say in theory because sometimes I get out in seconds. My best trades are hours and even days or months. But most of the time it is intraday. Thanks for words of encouragement. Today...

This means I'm sloppy. Things are not aligned. It happened like in a second. Tanked. Just like when NG report came out. I was up nicely then tanked and went nonstop. For that one, I held for several days and got out slightly better than even. Thanked the market gods. Then of course after I got...

I know!! Maybe I should stop trading completely. Practice on a paper account until I'm consistent and recognize the right thing. In theory, I should be able to go long or short. I guess IF and WHEN the bear market comes then I'll be raking it in. But bull markets dominate now and last longer..

I just took another big loss for no good reason. I was up a lot on ZW. Then at 9am PST it tanked so fast! I guess I should pay attention to when reports are released. Can't just trade off the charts. Unbelievable. Why does this happen to me?! Made some progress but now this happen out of the...

Handle123, Thank you for your thoughtful and sympathetic feedback. In no way is it cruel or harsh. I really appreciate that and recognize many of the issues you highlighted. Yes, overleveraged is one problem. Taking large losses is another huge problem. Countertrend trading is another. Getting...

I gotta learn to be not afraid of heights! I jumped at the day's HIGHs on NG and it still rallied after that point. Gotta condition myself to be not afraid of high prices. Who knows how high is high? It can go one for a long long time. When it reverses(who knows when) then I'll be ready to short...