IncreaseNow's "Sell/Short" Futures Journal
- Thread starter increasenow
- Start date
have a pretty good feeling this post was a big waste of time
but here goes
i said i wasn't going to post again on this thread, but seeing where you are making your trades makes me cringe
do you notice that every time you get in it is where the pros are going against you and the market moves against you almost exactly when you get in?
get your focus to 1 fucking market
not 10 or 5 or 3 or 2
just 1
i would never ever ever even remotely be thinking the direction you are making trading decisions, i would always be thinking the opposite of what you are thinking.
look at the lines
think about the market as a game of poker, and trade the other traders hands. you are trading your weak ass hand right into their plan
you are getting bluffed right into all of your trades by the pros
you need to think like a pro and not an amateur
not sure if any of this will make sense to you or if you even understand what i am saying
in order for me to comment beyond this you will have to do the following so i can try to comprehend what you are even thinking
quit marking your charts like that and mark an arrow for direction and the price you entered, where your target is and stop
and post the thought behind the trade you are making
i can tell you this
you should not be trading live at this point
you need to be trading on demo
you need to watch PA, and understand S/R while understanding PA at these areas
you need to understand how/why the market moves the way it does. from S to R---- S becomes R and vice vrsa -- if one area holds where is it going next? it is like a big game of ping pong---only it pays very well if you can understand it.
Listen man,
There are two type of people watching this thread. Both types understand trading better than you thing. The one type is watching you blow up and have fun watching you lose money. They encourage you to trade more because they are laughing at you. The second type is people trying to help you. listen to them.
They give you advise and you ignore them.
Try this tommorrow:
NO TRADES. MAKE A NOTE OF WHERE YOU WOULD TRADE AND WHY. MARK IT ON A CHART. POST THE CHART ON THIS FORUM.
At least you will save yourself some $$$ and learn something out of the exercise. Don't worry about missing great opportunities. There is always tommorrow.
Also, unless you haven't noticed people have told you to reduce the different type of contracts. DO IT. Not even seasoned pros with years of trading full-time and profitably trade so many markets. eg. A S&P daytrader I know added Eurostoxx and only recently and after trading it with 1/2 contracts as a test. So if a trader with over 10yrs experience trades 2 markets then who are you to trade 10?
Shorting the ES was just wrong for the following:
1) Most important: it was in an uptrend and no evidence that it was weakening
2) The background news was supportive. ISM beat expectations and Greece had added additional measures to reduce the deficit. I'm not saying you should be clued to the news but you need to know what's going on and use as a clue.
So 1+2 = take buy signal
Its all one puzzle. The puzzle changes everyday and you need to figure out which pieces to use.
There are two type of people watching this thread. Both types understand trading better than you thing. The one type is watching you blow up and have fun watching you lose money. They encourage you to trade more because they are laughing at you. The second type is people trying to help you. listen to them.
They give you advise and you ignore them.
Try this tommorrow:
NO TRADES. MAKE A NOTE OF WHERE YOU WOULD TRADE AND WHY. MARK IT ON A CHART. POST THE CHART ON THIS FORUM.
At least you will save yourself some $$$ and learn something out of the exercise. Don't worry about missing great opportunities. There is always tommorrow.
Also, unless you haven't noticed people have told you to reduce the different type of contracts. DO IT. Not even seasoned pros with years of trading full-time and profitably trade so many markets. eg. A S&P daytrader I know added Eurostoxx and only recently and after trading it with 1/2 contracts as a test. So if a trader with over 10yrs experience trades 2 markets then who are you to trade 10?
Shorting the ES was just wrong for the following:
1) Most important: it was in an uptrend and no evidence that it was weakening
2) The background news was supportive. ISM beat expectations and Greece had added additional measures to reduce the deficit. I'm not saying you should be clued to the news but you need to know what's going on and use as a clue.
So 1+2 = take buy signal
Its all one puzzle. The puzzle changes everyday and you need to figure out which pieces to use.
Thanks for all the encouragement..no trades today yet. Sitting in my car waiting for tow truck as car broke down. All serious and no joking..will not be able to trade soybean opening and missed trading 10am est news release
Oh man you are sooooo right, there are loads of posts on this site where people are losing money, and you try to help out and it goes in one ear and out the other. But let them hook up with a Guru, and they become a follower.
Most of the comments designed to help out are just plain Trading Common Sense. But as with all endeavors in life some folks just have to do the Frankie S. thing
http://www.youtube.com/watch?v=6E2hYDIFDIU.
As you know the problem with common sense is that it is not that common.
I really like the Millionaire Trader Program, look who are the winners and the losers, it tells you everything you need to know about a traders mentality.
The Ever Impatient With People VIPER
I am seriously, very seriously considering trading either Corn, Soybeans or Wheat for that first half-hour from 10:30-11:00am daily and be done...try to become an 'exact expert'...focused in...thoughts?