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N54 Fan: Spent the weekend reviewing my copy of “Come into my Trading Room”. I must have picked up something the first time I read it because I do use his “3 time frame” method when assessing a trade. Be interested in knowing if you have a method of grading your trades. Elder...

Check out "What it takes to be a successful trader" in this thread. http://www.elitetrader.com/vb/showt...192#post2857192

1) Have a well thought out plan 2) Have the discipline to follow the plan!!

Golf is like sex You don't have to be good at it to enjoy it.:D :D

Exactly; Let us know how this works out for you.:D

What it takes to be a successful trader, . First and Foremost you have to be willing to work. I know this is not what you want to hear but you have to do something besides click a mouse and have your fortune come to you. You have to take the time and make the effort. Trading should be...

Lets see; in the past 30 years things have speeded up considerably. I’ve gone from getting my quotes from the morning paper and phoning my broker who charged 3% to execute a trade; to getting quotes with an automated phone system and placing trades with a touch tone phone for only $39; to...

An aggressive order chases the price A passive order wait for the price to come to it.

Ah but the one legged duck doesn't swim in circles any more than the one legged man walks in circles. The one legged duck make ajustments and goes where he wants to go. You can do the same!

sound like a set-up to me:) When you enter a trade, there has to be a reason behind you doing so. It may be subconscious but it’s there. Find that reason and you have your set up.

You know what you are doing wrong How do you propose to fix the problem. I'd suggest a set of rules that you can make yourself follow. If nothing else try and lose as little as possible.

2 reasons: Trading costs; slippage and commission Money management. Few traders will bet a set amount. If you enter your trades then set stops for your exits that are an equal distance from your entry you have a 50 / 50 situation. It is a good exercise to see if your strategy has an edge...

How do you plan to manage risk?

Do you have a trading plan? If you want help, start out by explaining how you managed to take 100K to 36K.

You make the rules as to when you will take a position. When you put on a position you are betting that the market will move in your direction. You don't have to say how much you are willing to bet. All you realy commit is the brokerage fee. You should have a point where you want to exit...

In order for insiders to make money they have to use the info they have. If they buy or sell securies in any great amount, this activity will usually show up on the charts.

I haven't come across one where I get to make the rules or quit while the game is ongoing and take all or part of my bet back.

You are right about commissions. Once you decide to play you have to pay the house a little bit that you will never recover. A small price for bring able to make the rules. The market has to play by your rules. You make the decision of how you want to play. You make the decision on...

I like the poker analogy also. Especially online poker where you don’t see who your opponents are. If you have a planned strategy, ie only play the top 10 starting hands, when challenged never call either fold or raise and only stay in the game when the pot odds are in your favor, you have...

I take it you understand the concept of card counting and the edge that it will give the skilled player. You also know that even with a very favorable count you won't win every hand and that there is a possibility that you could lose your playing stake even though you have followed the rules...