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This is the most appropriate advice any trader can be given. If your methodology is good and tested, and if you follow this in your trade honestly, your portfolio will certainly become better and better.
Always appreciate a lesson from a knowledgeable person. As you said it could be me, it may just be. I will be open here. I am retired medically from Law Enforcement after just 10 years on the job. I just had to step down by Dr. orders. The last year of my career I had many incidents that was not pleasant, and as tough as I was and nothing I seen or had to do even put a thought of fear or back away or nothing but lets keep going and just a rush. I could walk away from anything even anyone and not think about nothing. I was rough and could shut emotions down to I had none. But anyway I ended up stepping down due to PTSD after some issues. How , I dont know, I didnt let anything bother me, but somethings got past and started to not set well. But enough on that,I say that because now I cant read a book, a magazine, I cant focus on reading at all. It took about 3 times to read your post all the way. I am not dumb I can read but to focus on reading not a chance. Dont know what caused it. Dr gave me adderall and didnt help at all. But maybe after you say what you did it could be me not seeing and being able to focus on what details Im missing or doing right and not knowing it. I just dont seem to get how the market moves the way it does and know why and when it is going to. Even if I dont be a trader that makes money, I think I will still do it because I just love it. Hate it sometimes LOL. But I just think it is the coolest thing and to make it a job would be huge achievement that I think would be more than anything else I have done. But always Thank you for your time to write your post. I do appreciate all the comments that people take time to post.
Trading is a lot of work, I don't know that I would call it enjoyable. It is very interesting. The thinking behind the trader is critical, but I can't say what that means for you. There is a PhD psychologist, Andrew Menaker, who works with some of the best professional traders in the United States according to him. His experience is that amateur traders love trading, but they don't make money, and professional traders hate trading even when they have their best year, and can't wait for one more year so they can quit.
TradingView has a free version. I thought I was going to post 10 or 20 videos for friends of mine who are having troubles trading. I didn't mind because I got a chance to articulate and organize my thinking. As it turns out, it turned in to over 300 videos, each about 20 minutes long. It didn't really bother me that there was public access because I don't make my money from teaching or mentoring, and it started out to help my friends. If you find the "ideas" tab...then go to "educational ideas" and then "video only"....you will see my posts. I cannot possibly know all your issues, or what type of trading is suitable for you, but I talked about some issues that you are not likely to come across on your own. I talk about some of my personal issues and training through the years. It might be a start for you and give you some guidance with regard to your needs.
When you go to medical school, there are people who know what they're doing and you will learn what they are teaching, or they will not let you graduate, and then you will take federal/state exams that qualify you to be licensed. There is none of this in trading for individuals who are trying to learn how to trade. You don't even know where to start except by hearsay. By far and away the vast majority of traders lose money and stop trading. This is common knowledge. If you lose you discretionary capital...you are out of business.
Thanks for your kind but wise and direct post. Since I have no dog in this hunt in terms of profit, I can post a link and ask if there are others. I am sure there are several people intrigued by what you have posted and I plan to spend some time here: https://www.tradingview.com/u/ScottBogatin/
I have kinda, the Dr. had me do some but it was hard to even do that. Maybe because he had me doing breathing lessons for like 10 min at a time starting out. But I still start to think about so much stuff and loose focus on what i was doing. Honest I really not for sure if I know what mediation is to an exact point of what to do.
If you want to try it again, let me know here and I can possibly guide you a bit. I’m definitely no expert by any means, but from my personal experience it has helped me a lot.
It’s like anything though - if you keep practicing and working on it, you will see the benefits later on. There is not really an “instant gratification” from it, but there is a gradual curve which you will see/feel benefits. Again, this is my own experience, and that is consistent with others I’ve read.
This is a cool set up, I couldnt find the PPO on TOS. But I am trying this out now. I dont know what I was thinking when you said put the DI on top of the macd LOL. I put it all in one spot on top of each other and it looked like a scribble match LOL. But so far just practice, 3 trades 1 loser 2 wins. The loser I did got in late and it was a small move and topped before I took profit. On the ES 1 contract had a 200$ trade. Ia m going to play with this more and see if I can get a good system going. I may change a few things and try them also, but going to mess with this and see what I can do. Thank you. I like it so far and seems pretty simple and easy to understand !
This setup is mainly for longer time frames and for swing, or position trading. Now, with the ES or MES try to use it from the 30 minute time frame and up otherwise it may force you to do many trades that will be almost like scalping. Now scalping is known to get peoples' money and give it to the exchanges (market makers). When I use this setup, I use it using options, but I do not want to confuse you with options, because you sound like you are still new to trading. Maybe the next lesson will be using a little more advanced use of the MACD Average line in conjunction with MACD Histogram together with +DI (green)/-DI(red) lines to get a little sooner and capture more profits. Anyway, using this setup with an options strategy called "Collar" can almost guarantee an always profitable trade, by adjusting (if needed) the "Collar" until you get out of the trade. Just be patient and do not risk too much money in the beginning until you get your confidence up using this setup. Try to avoid the temptation to modify this setup. It is simple and profitable and the best strategies are ALWAYS simple and profitable. Wishing you the very best and a lot of profitable trades. Stay in touch.....