0-100mph - Trying to go from newbie to a pro ...

Quote from zanek:

I literally laughed outloud because the amount of mistakes I'm making is comical !
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Something to add to your trading plan.

“What do I do when I make an execution error?”

You are going to make them so you might as well have a process for dealing with them.

It can be as simple as closing the position immediately or as complicated as you want to make it. If you have thought it out you won't be as flustered when it happens next time.
 
zanek, when I placed half my trading account with IB and started trading with a DOM, I made so many errors it was also (almost) comical. So like duhmentor says, when you start with a new platform, have your emergency plans in place, and if possible practice with a sim account for a while.

As for your ability to pick the right direction but get shaken out too easily, I recommend smaller positions and wider stops to test if you are consistent with your picks, or if you're mentally filling in the blanks after the test was already collected and graded.
 
Traderzones is right that you will probably blow out your account, read the third post you posted
it will tell you everything you need to know it is so typical 100% the same as a post of a newbie trader :p
 
@collegetrad3r:
I'm glad to see your riding the coattails of a loser like TraderZone. That guy is a complete troll. If I blow my account out, which is highly unlikely considering the size of my account and my position sizes, then so be it, but I appreciate the haters like yourself. It'll make my success slightly more sweeter remembering naysayers like you all.

@NoDoji & @duhmentor: Thanks for the heads up. I'm fleshing out a plan to deal with that now, but I will probably just keep it simple. My new trade interface has a sell immediately button, so I dont have to click through 3 screens like I do now.

My new trading account is setup as of this evening ! Cant wait to trade tomorrow, and see the effect (if any) it has on my performance !
 
Thanks NoDoji ! Neke's journal is quite inspirational ! Cant believe he made $72K in a week. Wow. I will definitely check out his journal and yours everyday !

My current account balance: $99,051.91

I'm setting up my trading screens now so I'll be ready for tomorrow.

(Not sure how to post inline images)
 

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I looked at the stock you mentioned in a post in your previous page (or the page before that in case this post is at the top of a new page). I will NOT trade it, I only looked at it out of curiosity. Do you invite comments on your stock candidates? If you are interested to know some comments feel free to PM me.

Also what is the nature/type of your system if you can share that? Feel free not to answer. Example of types could be: trend, counter trend, etc.

Best wishes
 
Quote from NoDoji:



(When Neke had drawdowns, the haters were rooting for him to "blow up". He's left them in the dust again and again.)
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NoDoji:

I am going to ask a strange question. I like Neke's thread but have not visited for sometime. Now the BUT!

One day I came across an order of his where he had the number of puts he bought. I went to the option chain, and found numbers that did not make sense if he had made those puts in one order/price.

Since then, I have always some doubt in the back of my mind, but again I like Neke and I am not certain whether it is just some data issues or whether he posts the sum of all puts he bought/etc, and give the average only.

I hope this is not a bomb for Neke, but his performance is not impossible, as after all it is only one double a year. What is unusual is his equity curve. Down and then all of a sudden up. Cowboy riding I guess!
 
@riskfreetrader:

I welcome any comments/critiques of anything I post.

My system mainly detects trends. I actually have come up with my own system that uses a couple of indicators that I created. I plot my indicators on a chart in realtime and when a number of conditions are met, a buy or sell event becomes highly probable (I coded it so the charts change colors when these highly probable events occur, buy (green) or sell (red).

The main traditional thing I do buttress my system with is S/R, but I use S/R only about 25% of the time.
 
Quote from zanek:

@riskfreetrader:

I welcome any comments/critiques of anything I post.
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When a stock is coming down, and hits the bottom. It can do two things: go horizontal/small range, or bounce in V shape the same day.

V shapes are rare. So from this perspective, the chances might not be on your side, but this does not mean that your system is not about to pick a great move up.

Now that you read what I wrote, ignore everything as if I never wrote anything.
 
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