Quote from fortydraws:
Most of these have come to me by PM. I guess it was only a matter of time before one showed up here in the thread itself. I was going to ignore it, but I will instead respond this once.
I've posted losses when I have had them, and I will post them when I have more of them. I approach this activity the same way every day. If you were to look back at the charts I have posted, and if you were to read them from left to right , rather than right to left, I think you would find that my entries over the last two weeks, and the last two/three months, for that matter, have been based on a consistent application of what has been discussed in this thread and in other Wyckoff/Trading by Price threads here and elsewhere, and that these entries were based on clear indications, or at least what one might reasonably have thought to be clear indications given by price, before the fact.
Such negative responses as above imply, I suppose, that I am attempting to fool people. Toward what end? No one here knows me. You don't know me. The only person here who does know my real name is DbPhoenix, and that is because I bought his book.
What motive would I have to only post profitable trades and not losing trades? I am here to learn. The feedback I have received from both DbPhoenix and nodoji from my losses has been far more beneficial to my trading than the feedback (or no feedback) that I get as a result of having good days. In fact, as a direct result of their feedback to two back to back losing trades I posted here I was able to make some changes that led to my having my best trading day to date.
I have been very straight about what my situation is and how I got here. I have been a blue collar tradesman my whole adult life whose body, specifically the vertabrea that form the lower third of my spine, is giving out. I have a wife and a family to support, and little time left where I'll be able to physically continue my trade without risking a grave result: I either quit soon, and be able to maintain and enjoy an otherwise active life, or I push myself on to the point were any mobility that will remain in my body will be accompanied by constant agony. One might say that my choice is being a day trader who can still play golf, or become a 50 year old who needs a walker and morphine to get around and disability and charity to get by.
So what I have to gain from my participation here is the help and instruction offered by DbPhoenix, nodoji, gringo, niko, and anyone else who might want to offer a good word. I am very thankful for having found DbPhoenix when I did. I am very grateful to him and the others for the support and advice they have shown me here and elsewhere.
And I am doing well. I'll not apologize for it. I have done so by studying materials that are for the most part FREE, and what few I bought were very inexpensive. I use FREE data from my broker, and a FREE charting platform. While I never opened a journal on a message board of my own, I have twice now interjected myself into discussions started by DbPhoenix. I have kept a trading journal/log of my own since last September. I have recorded every trade, saved a copy of every chart, and wrote at least a sentence or two assessing myself at the end of everyday.
I now start my day by looking at the context of price action over the preceding 24 to 48 hours, and based on what price has done, what it is doing, and where it is doing it, I try to have a long and a short scenario in mind before the open. That has been working well for me. Often one or the other scenario comes to pass. From there, it is a matter of watching how and where trade unfolds. I use nothing other than information that is free to anyone who wishes to access it - a simple price chart.
I posted a blotter before, and I did so exactly to head off just this kind of negativity. I see no reason to post my blotter as I have offered a detailed explantion of what I did and why, including an annotated chart. Yes, it was "after the fact." That goes without saying. We are here to "talk shop," so to speak, aren't we? Am I to try to focus on what the market is doing, enter, manage, and exit my trades, and post a running blow by blow here on a message board on top of that? Even if I wanted to, I couldn't do it. It takes all of my focus and all of my energy to trade. If you were to notice, I generally do not post here at all in the mornings, and if I do, I do not post once the market opens until I am finished trading for the day. And even then, I may not be able to post until night time, as I have to go to work.
But here is today's pnl - I trade the NQ, and I do not trade what I or anyone else would consider "size," but even the small lot trader can do well when catching a chunk of a 25 point range with a few additional buys or sells during the trend. And this is my second $1400+ day in a row, and my 11th profitable day in a row, and think what you will, the dollars are real, this approach to trading is real, and so am I.
forty, how many cars are you trading at a time? just curious. thanks.
