Feedback appreciated. My Journal Begins...

Great day. 14.25 points!

I'm teaching my father in law the famous buffalo chicken wing recipe. Gotta go. Report tonight or over weekend.

Goals accomplished today:

1. Focused on discipline and plan more than my P and L
2. No Range/Chop plays.
3. No over trades nor trades at the open. Only......8 TRADES TAKEN! woo hoo
 
Likely get booked up for a day or 2 better than full week of work.

Stopping for work is a pain, got to get back into it again but hey needs must

Trying and losing from alert on a dax long here lol
 
Drattttssss, huge sell off no second entry, no bounce, no safe exit, straight to SL and a few pips beyond -$300 just like that.


You have to of done better than me today -$400 here, 6%
 
Turveyd said:
Drattttssss, huge sell off no second entry, no bounce, no safe exit, straight to SL and a few pips beyond -$300 just like that.


You have to of done better than me today -$400 here, 6%
More...
Ouch! Today I did well. However I'm still recovering from this weeks early losses.

Goal right now is flawless execution of plan and honest introspection while trading. Focusing on this helped me tremendously today.
 
jsmacksem said:
Ouch! Today I did well. However I'm still recovering from this weeks early losses.

Goal right now is flawless execution of plan and honest introspection while trading. Focusing on this helped me tremendously today.
More...

Atleast someone did well :)

-$580 on the week here :( 1 good trade can make that back thankfully!
 
Turveyd said:
@sowterdad

Daytrading is where the money is made big money and big losses at first ofcourse.

Swing trading indexs is a fools game, there to pulled around by news events, if you want to swing trade then stocks but to make it worthwhile you need a lot more cash in the account.

Some you will get an SL hit on and they'll reverse others will go 100pts against you swings and round abouts, all part if the game.
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Hello Turveyd- I clearly demonstrated my own ignorance by some of my questions- I thought about what you wrote- and I realized i clearly assumed (wrongly) most everyone would start off first by swing trading , and only after having developed a good strategy- would then make the more challenging decision to try day trading if they had the time available and the resources- A lot of wrong assumptions on my part.
Swing trading is what is available for us "home gamers" that hold day jobs but perhaps don't have an opportunity- or desire-or talent-or kahoonas- to access the internet during working hours-and try their hand . I was not suggesting that Swing Trading would be the avenue to being a day-trader- I know nothing about what you trade- I simply made a presumption that day-trading was a graduation of sorts from the much slower and less intense swing trading- I stand mistaken.

" Daytrading is where the money is made big money and big losses at first ofcourse."

Indeed, From what i have read on my occaisional visits to ET- and other sites-books etc, the big losses may indeed be the entry price most all will pay- but that experience of "a big loss" does not guarantee their long term success.......I would assume you would agree that prospective traders - will eventually pay the market for their education, Their Hubris, Lack of Discipline, and lack of experience. The actual % of traders that can 'succeed' and actually sustain themselves at trading are reportedly in the minority of all of those that try. - the act of trading is mechanically simple- The art of trading and surviving over the long term may be anything but simple & intuitive. Those that can - do- The rest of us will simply envy their seeming easy success.
Good Luck! SD
 
sowterdad said:
Hello Turveyd- I clearly demonstrated my own ignorance by some of my questions- I thought about what you wrote- and I realized i clearly assumed (wrongly) most everyone would start off first by swing trading , and only after having developed a good strategy- would then make the more challenging decision to try day trading if they had the time available and the resources- A lot of wrong assumptions on my part.
Swing trading is what is available for us "home gamers" that hold day jobs but perhaps don't have an opportunity- or desire-or talent-or kahoonas- to access the internet during working hours-and try their hand . I was not suggesting that Swing Trading would be the avenue to being a day-trader- I know nothing about what you trade- I simply made a presumption that day-trading was a graduation of sorts from the much slower and less intense swing trading- I stand mistaken.

" Daytrading is where the money is made big money and big losses at first ofcourse."

Indeed, From what i have read on my occaisional visits to ET- and other sites-books etc, the big losses may indeed be the entry price most all will pay- but that experience of "a big loss" does not guarantee their long term success.......I would assume you would agree that prospective traders - will eventually pay the market for their education, Their Hubris, Lack of Discipline, and lack of experience. The actual % of traders that can 'succeed' and actually sustain themselves at trading are reportedly in the minority of all of those that try. - the act of trading is mechanically simple- The art of trading and surviving over the long term may be anything but simple & intuitive. Those that can - do- The rest of us will simply envy their seeming easy success.
Good Luck! SD
More...


Day trading is available for many to, you don't have to trade all day, be in a hour in the morning or evening, depending on what market is available to you, I can't spend 8hours in front of charts I'd go even more insane.

Swing trading, isn't really any better or worse, just like Day trading, 5mins down the line the reason why you entered likely isn't valid any more then your just relying on random chance to if it hits the SL or TP and just like daytrading they will hit your SL and reverse on you.

The main difference is time, we are in and out 15mins average I guess for me, your 3 - 5 days, I can't wait 3 - 5 days for the same risk / reward and actually I'd bet a lower win rate ( higher than mine this week LOL )

If your trying to get rich or make a good wage consistently every week then Day Trading is where it's at, I'm profitable ( not the last month LOL ) but not consistent enough yet for wage sadly!!

Someone has to lose for the big players to profit, sadly all of there profit as none of them really lose long term, is from Retail losses, day trading, swing trading, scalping don't under estimate how hard this game is for 1 second, very few will make it, but those that do, hopefully never have to worry about money ever again. ( or more rich people worry about money all the time )


No hard feeling, we all hopefully learn stuff! :)
 
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