jasinhbca's quest for discipline, knowledge & profits
- Thread starter jas_in_hbca
- Start date
Remember the power of now !!
You must always make decisions inlife based on the FACT that are in FRONT of you at that very moment. that will be the key to help you pull the trigger and do the right thing. There are only two outcomes... either you will be right or wrong.
If you are right you will SEE it as TIME passes... when you are wrong you will SEE it as time PASSES. you have to let TIME to PASS>>>>> In most case you dont let the TIME pass.
If you are right about the trend >>> you should not care about pull backs - they are just natural slumps/reaction ...however a trend will correct these faster that you will be able to pull the trigger to enter.
When a pull back has started - your mind starts to USE information from the PAST >>> right? at this moment you are not focussed at the PRESENT which is that price is declining.
read my old PM on hypothesis again. its a simple concept to understand however tuf concept to "GET IT and Implement".
GL
GL
hard to trade futures if you are "weak hands." Very difficult. I watch the action and think "this is not easy, how the H does a newbie stop from getting shaken out repeatedly." I am not a futures trader per se, but I am used to taking heat. Plus I am long NDX calls today and most days long call or long puts on NDX - -- so easier to buy/short futures.
If the OP is getting shaken out with a ONE lot, then that does not bode well for future consistent profits. But it does look good the the B/D who will make a lot of commish.
better to give you $ to charity. then, try equities or options.
you don't have to persist in trading futures to make $$.
If the OP is getting shaken out with a ONE lot, then that does not bode well for future consistent profits. But it does look good the the B/D who will make a lot of commish.
better to give you $ to charity. then, try equities or options.
you don't have to persist in trading futures to make $$.
Take profits at LOD or hold ?
Ideally that would be a rule in my trading plan. Next best would be exit half (or other fixed amount) of the position.
My 1 car strategy is try to read PA and stick with trend.
Today a MFE +12 results in a +7.25 exit after LOD held.
2 trades today . +6.75 pts
My long term goal is 5 -10 pts a day and work up to 5 cars. I'm still trying to reconcile in my mind profit goals vs. process goals. I much prefer process goals as a more logical strategy but think for a business plan a profit goal makes sense too. Then there's the blended approach where if i hit my profit goal then keep trading with reduced contracts. I don't know, i'll figure that out later. For know still working on constistency.
Ideally that would be a rule in my trading plan. Next best would be exit half (or other fixed amount) of the position.
My 1 car strategy is try to read PA and stick with trend.
Today a MFE +12 results in a +7.25 exit after LOD held.
2 trades today . +6.75 pts
My long term goal is 5 -10 pts a day and work up to 5 cars. I'm still trying to reconcile in my mind profit goals vs. process goals. I much prefer process goals as a more logical strategy but think for a business plan a profit goal makes sense too. Then there's the blended approach where if i hit my profit goal then keep trading with reduced contracts. I don't know, i'll figure that out later. For know still working on constistency.