tampa's "short skirt" trades...

[Brandonf]

Originally posted by tampa


They do understand, they do understand!!!

It's a real kick in the ass, isn't it. You bust a gut learning what works. Overcome most of the problems, such as the fear of pulling the trigger. But then you sabotage yourself by failing to work the trade properly.

Wow, what a surprise to find out that I am not alone

I see a lot of people posting journal's on ET for public scretenity, or to force discipline on themselves etc. I always wonder how much it really helps the people who did it, if they stick it out long enough for it to help. Doing everything in public adds an entirely new set of emotional burdons to your trading. When I started doing my chatroom I had a terrible month and a half as I adjusted to doing it, I was just about ready to say screw it and go back to my small corner in the bedroom and continue life as a hermit trader.

I would also suggest you consider spending some time as a member of Linda's room, if nothing else just to read the logs at night. It would likely be a great educational experience for you, and increase the likelyhood of your becoming successful with this particular setup, which is more then meets the eye.

Brandon

 

[nkhoi]

You have overcome the hardest part namely open yourself to public flagellation, the rest should be piece of cake.

 

[nitro]

Originally posted by tampa
Have you ever encountered a method of trading that works – really works – but have been unable to make it work for you? That seems to be my life’s story. I have been at this game for a long time, and I am pretty good at it, if I must say so myself. I only have a few things to overcome. Second-guessing myself, and self-distrusting blowouts.

Aside from those two minor problems, I am near perfect!

I know what works – at least for me: Common sense trend following. But I am inpatient, I need to know quickly if I am going to ring the cash register, or take a hit. So that means that short-term trading is my only hope. Scalping e-minis for a half to three-quarters usually puts profits in my pocket, but... I’d like more.

Have you ever heard of Linda Raschke, and her “short skirt” trades? There’s really nothing new or special about the method. Buying/selling bull/bear flags in established trends on a one-minute chart using a three point target, and a three point stop. There ain’t much to it. It’s simple, easy to see, and it works better than 65% of the time.

( For more info: http://www.lbrcapital.com/members_tradesetuplibrary.asp )
So how come I am not rich? Because I can’t follow the rules. I cut my profits short, and take losses before I should. Thereby defeating the purpose and genius of the method. Day after day, hour after hour I sit at my computer looking at these trades do what they are supposed to do – i.e. make money. But I always manage to either not take them in real time, or to take them but not properly play them.
Well enough is enough! I have tried everything I could think of to force myself to do what I have to do – but for one thing: Public humiliation. So for the foreseeable future I will post a “journal” of my attempt to trade a method I know works. I will only take the so-called “short skirt” trades (or at least they are the only ones I will tell you about), and will do my best to trade them as they should be traded. At day’s end I will fess up as to my success or failure. Feel free to comment, ridicule, or stand in awe.

I am not doing this for you. I am doing it for my own benefit – I don’t know what else to do to force the needed discipline on myself. So your input, while welcome, is not really necessary. The mere knowledge that someone will see what I did, or didn’t do that day may just be the kick in the pants that I need.

I’ll start on Monday. Tuesday may be a short day as I have a medical appointment, but as a rule I trade most every day.
I will provide information about my equipment, software, etc in a subsequent post.
Wish me well – PLEASE!

tampa,

If you do not follow your rules from now on - NO MATTER WHAT, I will personally come to tampa and kick your ass.

nitro

 

[easyrider]

LOL Nitro. I see a business model here. An enforcement squad. Having problems sticking to your plan? Sign up and we will break your arm if you do it again.

 

[tampa]

Originally posted by Brandonf


I see a lot of people posting journal's on ET for public scretenity, or to force discipline on themselves etc. I always wonder how much it really helps the people who did it, if they stick it out long enough for it to help. Doing everything in public adds an entirely new set of emotional burdons to your trading..

I would also suggest you consider spending some time as a member of Linda's room, if nothing else just to read the logs at night. It would likely be a great educational experience for you, and increase the likelyhood of your becoming successful with this particular setup, which is more then meets the eye.

Brandon

I’ve given that some thought. But in my zeal to be open and honest, with you as well as myself, I must tell you that I have rejected the idea.

I have great respect for Linda, and have learned much from her writings. But a Guru is not what I need, or desire. There is nothing new, or even special in Linda’s “short skirt” trades. I am fully aware (I think) of the various filters she uses, as well as the years of know-how and experience she brings to the table.

The method is nothing more than trading retracements in a trend. I referenced Linda and the term “short skirt” only to provide some identity.

Is there any more that she can teach me? I am sure that there is. In fact, there are few if any traders who could not provide me with additional insight. But my problem is not with methodology, it is with being unable to follow a set of rules.

I posses a number of methods and strategies that “work” . But I lack the discipline to make them work consistently for me. I suppose that one could say that I “know” too much for my own good, and that this is an exercise in “unlearning” – or to put it another way, an attempt to stop being smarter than the market.

If she (or anyone) could teach me how to do that, I’d sign up in a heartbeat!

 

[nitro]

Originally posted by tampa

...and that this is an exercise in “unlearning” – or to put it another way, an attempt to stop being smarter than the market.

If she (or anyone) could teach me how to do that, I’d sign up in a heartbeat!

Yoda could do it:

Yoda: "You must unlearn what you have learned"

Star Wars: Episode III

nitro

 

[tampa]

Originally posted by nitro

tampa,

If you do not follow your rules from now on - NO MATTER WHAT, I will personally come to tampa and kick your ass.

nitro

...ouuuuu! That sounds interesting. I'll bet that Subbie would be interested as well.

Who says that good things don't come from being on this board!!!

 

[nitro]

Originally posted by tampa


...ouuuuu! That sounds interesting. I'll bet that Subbie would be interested as well.

Who says that good things don't come from being on this board!!!

Best of Luck tampa - I like your style putting it all on the line.

Come into the ET chatroom, state your purpose, and I think you will find some encouragement...

nitro

 

[tampa]

Originally posted by nitro

Yoda could do it:

Yoda: "You must unlearn what you have learned"

Star Wars: Episode III

nitro

It's always YODA, YODA, YODA with you, nitro.

Yoda this, Yoda that...geesh...

 

[Brandonf]

If she (or anyone) could teach me how to do that, I’d sign up in a heartbeat!

Make a promise to someone you care deeply about and would do all you can to keep your word too. Maybe a mother, father, son, daughter, wife etc. Write down your rules so there is no question as to what they are, and sincerely promise that person that from this point you will follow them.