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Bearbelly

This morning you took the breakout. It takes off and you see the green piling up then it starts to hesitate and you panic and hit the sell button. You make 15 points on YM so your happy for the moment. It hesitates for awhile then takes off again but youre afraid to get in now. It keeps on going and going and now your 15 points looks like a pittance. Now you start thinking it cant possibly go any higher so when it hesitates you throw in a short. It hesitates then takes off again and youre stopped out. Now your even. It hesitates again and you throw in another short. Again yoiur stopped out. You are now down 10 points. It hesitates again but now youre afraid to short so you watch. It starts down hesitates and goes down some more and hesitates again. After a big move up like that youre sure it will go back up again so you go long. It runs up a few ticks then starts down again and stops you out. It runs down and hesitates again and you go long again. Once more youre stopped out. Finally it hesitates but now youre afraid to buy so you sit there and watch it run back up.
 
It takes off and you see the green piling up then it starts to hesitate and you panic and hit the sell button.

What you call panic I would call a smart move! Anyone looking back on a trade can second guess their entry and exits. Especially if you are a so called chartist. The chart always makes a trader look stupid! The best thing I did for my trading was cancel my esignal subscription!!

When reading traders posts I often wonder what type of trader they are. I personally make between 15-50 trades a day. Obviously to do this I lease a seat. You can see why I would think making 15 ticks on a trade would be a good trade. Lets say I make 30 trades and make 15 ticks on 20 trades and and lose 10 on 10 trades. I would make 200 ticks profit! Because I trade actively I can handle having 3-5 losers in a row. If I only made 5 trades a day I would not be able to absorb a bad run.

When I read traders posts I often think their problem is not making enough trades. I would be all panicky inside if I was trying to make my daily nut on a couple of trades a day.

My personal opinion is you should lease a seat at the CBOT (Dow) or CME gem(Russell 2000) so you can trade more actively. I think the Russell(ER2) is a better vehicle. The only problem I see in your post is you seem to be sitting on your hands. Making 15 ticks on any trade is good!!

Today was a tough day to stay in any trade. The Dow was going up, the Russell and Nasdaq were going down, and the S&P couldn't make up its mind.
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Quote from Bearbelly:
.. You make 15 points on YM so you're happy for the moment. ..
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Make a net 15 points twice a day on the YM every day. Every 4 weeks double your betting stake. Assume a start position of 1 lot. Theoretically, how much will you have accumulated at the end of 40 weeks?
:)
 
Quote from Cheese:

Make a net 15 points twice a day on the YM every day. Every 4 weeks double your betting stake. Assume a start position of 1 lot. Theoretically, how much will you have accumulated at the end of 40 weeks?
:)
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u got it all wrong!..he's sayin' hes makin' bout 200points a day not 15, r0r.
 
Quote from Bitstream:
u got it all wrong!..he's sayin' hes makin' bout 200points a day not 15, r0r.
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You got it all wrong.
I was quoting Bearbelly.
:)
 
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