Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Only one trade today. +30 ticks (average tick per contract).
I have been making a lot fewer trades as of late, and my stats are really improving. It's also part of the move I've made away from scalping. You can see what the daily ticks p/l looked like for the past month when I was scalping, and what it's done since I went back to price action.
I just finished reading through this thread, wanted to thank you for the willingness to share your thoughts, charts, trades, shortcomings, etc. This thread has been invaluable to me.
Starting off the morning disappointed with myself for hesitating and not entering long when I should have, thus watching the market make a 40+ tick run up without me. Yes I know, more opportunities abound, but I'm just noting my emotions. We'll see how price reacts to 51.5
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
Posts: 796 since Oct 2009
at this point, take time to breathe,
then take time to carefully document everything,
1) your charts,
2) your emotional disposition,
3) your approach,
4*) your expectations from the positions that made you loose
5) your timing of the entry of the opening of the position
5a) what time was it in relation to the end of trading day?
5b) what chart pattern and technical analysis did you use as your primary decision making factor?
5c) what other technical indicators were in your favor or against?
5d) did you use some stupid concept of "waiting until the bar closes to enter"?
5e) did you have a preponderance of evidence to convince you to risk your capital on that position?
(i.e. how many technical patterns or indicators were agreeing or shouting against your decision)
5f) define how your expectation was going to play out, under "those" market conditions
(i.e. you entered on a retrace bottom as it was upturning, and you moved your stoploss up to BE, etc...)
6) be honest
7) accept the fact that you are documenting a losing position and a losing trade
8) try to turn off the guilt factor and
9*) use this BDA (battle damage assessment) as a learning experience, an expensive learning experience