S/R Emini Journal

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Quote from romik:

Mr B is creating some waves here, let's see if we break 1302, I'll be in then, if not I stand by my 1294 short. I'm willing to be a little more patient.
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Good man, I am being patient also
 
10:30 reversal song





meet me in tha trap its going down
meet me in tha mall its going down
meet me in tha club its going down
any where ya meet me guranteed to go down
 
Quote from ndjeff7:

Thanks Gary, that would be great. I've been trying different methods for a few months and have finally fine-tuned it to how I want it and to how I feel comfortable trading but this feels like the last jump I have to make. I have good triggers to get into trades, a reasonable stop-loss all the time and sensible exit points, but for some reason I just can't stick to them. If I were to just put all the orders in and leave the trade alone I would be fine.

An example is Wednesday when we had that bear flag, I put on a short position and set my target 30 YM points away and a 10 point stop. The stop never came close to getting hit but for some reason when I was up 15 points I closed out the trade because I wanted to make sure that I had a gain. In retrospect, if I had just followed my rules I would have had the 30 point target easily. Thanks for you help!
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ndjeff7,

Gary will point you in the right direction. If you need any more help drop me a PM. I've sruggled with the exact same problem you describe. But a good solid trading plan, win or lose, is one of the keys to success.

MiniDowTrader
 
As a new member to ET I have begun reading through this thread and have been really impressed with how genuine and helpful the posts seem to be. I suspect that there are many readers who have an interest in trading breakout and S/R but who choose not to post here. I also believe many people give trading a try and jump from one method to another in search of the perfect system. They will read this thread and give it a try. When they suffer a drawdown for 2 days in a row they will become convinced that the system does not work and move on.

I though it would be neat to do the following: I will do my best to follow this system within the guidelines that have been graciously outlined by 4re and the other experienced posters. I will post annotated charts of the trades (on paper) I take so that new traders can see the trials and tribulations that everyone goes through when trying to put together or follow a new system. It is my hope that those who trade this method successfully can point out the errors in my decision making process as well as things I have done correctly. Is there anyone out there who feels that this would be beneficial? If so, I will get started on the first chart.


YMZ
 
Quote from ndjeff7:

Thanks Gary, that would be great. I've been trying different methods for a few months and have finally fine-tuned it to how I want it and to how I feel comfortable trading but this feels like the last jump I have to make. I have good triggers to get into trades, a reasonable stop-loss all the time and sensible exit points, but for some reason I just can't stick to them. If I were to just put all the orders in and leave the trade alone I would be fine.

An example is Wednesday when we had that bear flag, I put on a short position and set my target 30 YM points away and a 10 point stop. The stop never came close to getting hit but for some reason when I was up 15 points I closed out the trade because I wanted to make sure that I had a gain. In retrospect, if I had just followed my rules I would have had the 30 point target easily. Thanks for you help!
More...


you suffer from the need to ring the register.


If you trade multiple contracts, close half to ring it, set your stop to break even to give it a chance to run.
 
Quote from volente_00:

you suffer from the need to ring the register.


If you trade multiple contracts, close half to ring it, set your stop to break even to give it a chance to run.
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Be careful taking advice from volente...
It's like taking advice about your golf game from Tiger Woods...he plays a totally different game!
:D

MDT
 
Que pasa?

I had to leave town unexpectedly but back now and thinking that I haven't missed much of anything. Anyone else ready for the summer market to be over?
 
Quote from MiniDowTrader:

Be careful taking advice from volente...
It's like taking advice about your golf game from Tiger Woods...he plays a totally different game!
:D

MDT
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but the fundamental principle is the same regardless of your experience.
 
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