Smarter: do a search on what happens to those who start journals following Nodoji and dbphoenix "price action trading". They all lose. Maybe their "strategy" doesn't work?
el bastardo NQ
- Thread starter theapprentice
- Start date
Actually no one that I know of is following either of our approaches in a journal.
Do a search on what happens to those who start journals following Ghost of Blotto... you have zero data.
I think from what I have seen Blotto that you are a smart guy, hence you must understand that the data you have makes it very difficult to form any conclusions. Db is right to point out that hardly anyone is actually trading a pure version of SLA. Nobody else posts a Trading Plan... just little snippets.
LOL... I didn't even see Db's post before I posted mine. We were typing it up at the same time. I might suck at trading, but at least I sometimes say the right thing!
If this trading game is more psychological than anything else as they say, then this is a huge factor that a trading plan cannot account for. Its very difficult to even teach the proper mind set. From what I have seen, very few can learn this, and most that succeed at trading I think already are much closer to this proper mindset than most. I'm not saying its impossible to make the transition, but its extremely difficult.
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Down about 6 points. Super tough day again.
Bad 2 or 3 days for the confidence. my start to the journal was a little 'too good to be true' in fairness! Lots of winning days in a row. I'm still up for the fortnight but these last few days have taken a large chunk of the profit back.
From looking at my stats, most of my losers showed around 3 NQ points before stopping me out.
Maybe I should always have a profit target at 3 points and maybe another contract to keep for a possible runner?
I alsowill play about with some longer timeframe stuff to maybe filter out some bad trades.
Also thinking about experimenting with using less 'confirmation' on some trades. Am not sure how much waiting for 'confirmation' (in the form of price movement) is helping or hindering me!
Will also possibly be trading both the NQ and the ES for a few weeks.
From looking at my stats, most of my losers showed around 3 NQ points before stopping me out.
Maybe I should always have a profit target at 3 points and maybe another contract to keep for a possible runner?
I alsowill play about with some longer timeframe stuff to maybe filter out some bad trades.
Also thinking about experimenting with using less 'confirmation' on some trades. Am not sure how much waiting for 'confirmation' (in the form of price movement) is helping or hindering me!
Will also possibly be trading both the NQ and the ES for a few weeks.
closed it for +3
(mentioned before about how lots of my losers showed me 3 points profit before reversing on me, so experiementing with smaller profits on some trades.)
(mentioned before about how lots of my losers showed me 3 points profit before reversing on me, so experiementing with smaller profits on some trades.)
ended up being quite a good short and on this occasion snatching the +3 was wrong.
Taking a long here at 4206.75
Taking a long here at 4206.75