NoDoji's Day Trading Log

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Quote from bighog:

Agree, chasing a move is dangerous. The flaw in your thinking is you feel the trend will not continue and you want to get the reversal because price "MUST" come back because you missed the move. You are attempting to justify an incorrect mkt read (you failed to anticipate the breakout) by another incorrect assumption
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Agreed. Sadly, despite being aware of this flaw, I still succumb to it so very often...

Quote from bighog:
Try this: THINK CONTINUATION of the trend unless you get a solid gold signal to ring the bell for a reversal. [/B]
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This is exactly what I am having difficulty with. Well, that and a complete lack of patience.

Quote from bighog:

What to do after missing a breakout: Wait for the retrace, it will come. If you missed a move, bite your tounge and please do not kick the dog. Let price settle down and chances are the retrace will allow you to get onboard. The problem with chasing (i discused this before) is you chase and get filled just BEFORE a NORMAL retrace and you get stopped out at the bottom of the retrace just before the CONTINUATION takes off. That is frustrating at best and at worst it costs you money.
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Frustrating it is.

So much so, that I give up on that particular stock (BTW, is that what "kicking a dog" means?) and move to something else, where the same story happens all over again!
 
Dont know if you read what I wrote 2 mins before you but this basically sums up what I said right before you in 3 lines.

Quote from BostonKiller:

Agreed. Sadly, despite being aware of this flaw, I still succumb to it so very often...



This is exactly what I am having difficulty with. Well, that and a complete lack of patience.



Frustrating it is.

So much so, that I give up on that particular stock (BTW, is that what "kicking a dog" means?) and move to something else, where the same story happens all over again!
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Quote from Steelers Baby:

Dont know if you read what I wrote 2 mins before you but this basically sums up what I said right before you in 3 lines.
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No, I was too busy editing typos :)
BTW, usually I am the one to ramble on (18 pages! Front AND back! ;))
 
Quote from BostonKiller:

No, I was too busy editing typos :)
BTW, usually I am the one to ramble on (18 pages! Front AND back! ;))
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lol, just go with the flow and type in E (litetrader)-bonics
 
Quote from mindtrade:

What chatroom are you guys always referring to? I tried the ET one once but nobody was in there.
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I sent you a PM, I only drop in once in a while, when im done trading for the day so dont know if it would be appropriate for me to invite you myself.
 
Hi Mindtrade,

I just sent you a PM with instructions on joining us if you like

Best

Robert


Quote from mindtrade:

What chatroom are you guys always referring to? I tried the ET one once but nobody was in there.
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You will make it. The good news comes when the ugly days get less ugly. Fourty trades in CL is as ugly as it gets. :D You will never forget that day, HA.

There will be a day where you get out of bed and casually get ready for the trading day without the slightest apprehension because you will have graduated to where the losses are rare at the end of the day because you control the mkt and the mkt does not control you. The days of giving back profits will no longer be a threat to moving up to the next level. No one can trade with fear and that hurdle will take time but it is doable to overcome. Thats when the profits take care of themself.

Losers never get past the FEAR factor. Graduate yourself to the next level.

There is a famous piece that expresses in music the triumphs and the defeats of life that we all go through. I play it now and then as motivation. Trading can be boring and it is a must to motivate yourself now and then.

This was good, place yourself in the crowd as you review your lifes up and downs with the music.

http://www.youtube.com/watch?v=oONWgcvPutE&feature=related

About the words which we all understood before reading about them. http://www.elgar.org/3pomp-b.htm
 
Quote from NoDoji:

Thanks to everyone for much valuable input. I still believe I can make this work, despite the long haul.
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I think you need to jump outside the box and look in Nod. You're doing incredibly well.
 
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