five years later (the previous 5), still struggling!

In at 1325.75 1.5 risk
Stop moved to 1325

Sold 1 at 26.5 remaining 1.

Bought back 1 at 1326. Now 2 with stop at 1325.
 
In at 1325.75 1.5 risk
Stop moved to 1325

Sold 1 at 26.5 remaining 1.

Bought back 1 at 1326. Now 2 with stop at 1325.

Sold 1 at 1327 (shouldn't have grrrrr). remaining 1 with stop at 1326.
 
In at 1325.75 1.5 risk
Stop moved to 1325

Sold 1 at 26.5 remaining 1.

Bought back 1 at 1326. Now 2 with stop at 1325.

Sold 1 at 1327 (shouldn't have grrrrr). remaining 1 with stop at 1326.

out at 1328.25. Profit, including commissions $201.

I think it will go to 1330.25 before you see a sizable pullback. Back to the my problems, I couldn't just sit and let the trad work out.

Why I took the trade?: Market looked strong with strong reversal in 5 and 15 minutes. I went in 15.75 so that my stop will be at 14.25 two bars lower on 5 minutes. If the trend is really strong there will not be any two bars breaks soon. Let's wait for the next pullback.
 
Quote from momoNY:

In at 1325.75 1.5 risk
Stop moved to 1325

Sold 1 at 26.5 remaining 1.

Bought back 1 at 1326. Now 2 with stop at 1325.

Sold 1 at 1327 (shouldn't have grrrrr). remaining 1 with stop at 1326.

out at 1328.25. Profit, including commissions $201.

I think it will go to 1330.25 before you see a sizable pullback. Back to the my problems, I couldn't just sit and let the trad work out.

Why I took the trade?: Market looked strong with strong reversal in 5 and 15 minutes. I went in 15.75 so that my stop will be at 14.25 two bars lower on 5 minutes. If the trend is really strong there will not be any two bars breaks soon. Let's wait for the next pullback.
More...

I should not be buying any pullbacks, unless there is a reversal in 2 minutes. Then I'll buy the first pullback to the 2 minutes pivot.
If I buy the pullback to 1326.25 it will be for one point profit a scalp.
 
Quote from momoNY:

I should not be buying any pullbacks, unless there is a reversal in 2 minutes. Then I'll buy the first pullback to the 2 minutes pivot.
If I buy the pullback to 1326.25 it will be for one point profit a scalp.
More...

In 1326.5 stop at 1326!!
 
Quote from momoNY:

In 1326.5 stop at 1326!!
More...
I didn't like the trade. Out at 1326.75. I need to wait for a reversal in 2 minutes, are you going to hear me????
 
Quote from momoNY:

I didn't like the trade. Out at 1326.75. I need to wait for a reversal in 2 minutes, are you going to hear me????
More...

If 1327.25 is taken out I'll look to go long.
 
Quote from momoNY:

This is going to be my last attempt at this madness! I started a journal in 2006 without success (http://www.elitetrader.com/vb/showthread.php?s=&threadid=62958&perpage=6&pagenumber=1), I took a break of more than three years before coming back to the markets, but still not profitable. I lack discipline, and I don't seem to find a cure for that. At least this time I know I can read the markets very well, and I know the weaknesses I have to solve:

- Not overtrading. Limit to 5 trades a day.
- Get good sleep.
- No trades between 12-1pm.
- When profitable in the morning, no trading in the afternoon (if I respected this rule alone I would have been ahead big time).
- Staying in the trade until a reversal or descent profit of at lest twice the risk.
- The most serious of the most serious ones, stop for at least 30mns after a stop loss. This is my top one problem; I end red every time I have a loser. I don't wait for another setup, I invent them myself ;-).

I'm not going to give specifics about my strategy. All I can say, is I buy/short pull backs.
I use 2/5/15/hourly and 4 hours (the king of all time frames). I take my trades using 2 and 5 minutes charts. the 15/60/4 hours are for direction and resistance only. I don't use any indicators whatsoever, just price action. So help me god!
More...


Ask your self this. Are you a gambler or a trader?

http://www.elitetrader.com/vb/showt...ge=6&highlight=gambler vs trader&pagenumber=8
 
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