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Interesting idea. However I disagree with the conclusion. Disagreement isn't a bad thing and if I am wrong I would like to find out and adjust my thinking. Taking your example we assume the original long entry price is 100, the target is 110 and let's assume a stop loss of 95. For our...

I think the key point that is not mentioned in most dictionary definitions of gambling is that at gambling's core you put up your money and receive nothing of value other than a CHANCE to win something. So even though you may be a professional poker player or blackjack player and may have a...

There is a very simple formula for filtering ideas and advice to discard the chaff and glean the wheat. But unfortunately not everyone is willing to do what it takes to obtain the wheat for themselves. Too many people rely on others to explicitly tell them what to think and do, not trusting in...

Those who question whether something is possible are typically those who are looking and have struggled and struggled in vain and have either lost hope of achieving their goal or have serious doubts about reaching that goal and would like some confirmation. This applies to this particular...

I don't understand the context of the question with regards to stops being the "big trick".

I dump chart data to Excel and then massage it there.

Imagine a purely objective system that has a win percentage of 90%. For every 10 trades, this system racks up 9 winners. But each of the losers is 5 times as large as each of the winners. In other words, the system has a 1:5 win/loss ratio. The system was developed on a backtest that only ran...

In reading this journal my goal is that everyone plainly sees that this journal is less about me and more about winning, specifically in the EMinis. Him being a winner or her being a winner and him or her talking about their winning won't necessarily help you or me to win. You being a winner...

And thank you for your valuable reply. You successfully condensed a page of description down to a single line continuum that is easy to immediately comprehend and use.

There is a fine line between thinking about what might happen, and then entering just as it starts happening (Ambush) and thinking about what might happen, and entering BEFORE it starts happening (Anticipation). The difference for me is often when the ambush strategy is employed, I am there...

When someone says "I don't know" it usually means they are expressing their own lack of knowledge or ignorance about a subject or about the answer to a question. Ignorance is generally looked down upon by society, while appearing to "know" is typically a response that engenders confidence in...

I just read through an interesting quote on the problems that can be associated with "knowing" the outcome of a future event. It is akin to a stock broker who, after preaching XYZ stock to so many clients, starts to believe his own advice, trades it, and loses. I guess this comes back to...

There may be some technical difficulties associated with trading a system that uses the crossing or angles of averages. I always had difficulty seeing when the lines had actually crossed on my screen. I'm sure by now you realize that if you are using angles as part of your trading regimen, they...

Thanks for your comments and question EuroB. I just had the house recarpeted so I'm still moving furniture back into the newly carpeted rooms so I will keep this brief. Suffice it to say that I had to hit rock bottom before I could start rising. Everyone has their own maximum pain threshold...

Trend Fader, Yes this is exactly the point I am attempting to make with this journal. My intent is not to show people what to do, or even how to do it (because that would be fruitless IMO), but rather get people thinking about what it takes to be a winner, maybe present some old ideas in a...

Excellent quote from Lawrence Chan in the Gary Smith Challenge thread: http://www.elitetrader.com/vb/showthread.php?threadid=27916 Detachment, flexibility, capability, confidence, patience, ingenuity. Excellent definition of survival, and worth repeating.

Fast Trader, Making any type of major change in your trading requires more than just thinking about things in a different way, or making a decision to do things differently. If it were that easy then you would not have needed to ask your question. It sounds like from your description that...

So it is clear that attachment to positions is exactly the wrong mindset. I have a difficulty conceptualizing the idea of detachment because detachment is not an active state. It is more of a passive state. I'm a man of action so I had to come up with a way to turn detachment into a proactive...

As was mentioned in the post on perfection, trading is anything but a perfect science. Trading is a messy profession. Those who aren't willing to get their hands dirty need not apply. Imagine that you are a salesman doing cold calls. Now imagine that instead of the worst thing that could happen...

Trading isn't about perfection. Trading is about making due with existing conditions and doing the best you can with what you have before you. It is kind of like one of those TV shows where you have to accomplish a set of tasks with limited resources. You have to get from point A to point B. You...