Recovery: Introduction
Start writing a series of lectures on the topic: “How to recover during the losing streak.
Much of the material already for traders who trade more than a year and began trading in plus, but newcomers will be useful points. This course is designed for people who are broken and they lose heart, no desire to trade more and do not believe in ourselves. In my almost 3 years trading on the NYSE was 3 times the black bars and I’m recovering from them. The most basic in the trade that is your emotional state. You must be in harmony with yourself and have confidence in their actions. read more
nyse 
No jeweler
After a couple of days all the same understood that a short foot is not mine. Previously did not bother about the stops, even 5 cents or 14 cents, and when I became to try to go anywhere at an unbeatable price and with minimal risk they started giving away too often. Because of this, a good deal closes.
The most important thing – it’s literate stop, even if the price slipped and should not try every time to reduce the risk where it is not possible. Resume normal trade with stops 5-15 cents, but increase the minimum potential in the shares of 60-70 cents.
It is necessary to improve the selection of stocks to look for more stocks with good potential, close to the levels and a clear trend. The main focus on my technical analysis, but now I will carefully read the news and learn of the company. read more
Notes for November 19
Compliance with the rules of discipline gives the results:
- Transactions have become more thoughtful and selective.
- Number had decreased, but the quality came out.
- Foot became less and less.
- The main task now is to continue in the same spirit and the result will not take long.
- Plan to bring the number of profitable trades up to 40-45%, now 30-35%.
- Increase the risk / reward 1 to 5-8.
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Nasdaq Day Trading Simulator
Found a very interesting trading Simulator for NASDAQ. Data are collected over the past 25 days, so we pick any day and sell. Unfortunately you can only open a position. Registration is required, but it’s easy. Working tape and the charts. On weekends, a good toy:) read more
Beginning of harsh discipline
Finally I am not sick any more and can return to daytrading. I want to tighten my discipline and begin to trade only on my own trading strategy. The main rules are:
- Do not trade the first hour and lunchtime
- To trade according my trading plan
- Risk/reward 1/5
- Stop loss – 5-10 cents
- Potential is not less than 50 cents
- Only the familiar model
- Only trends
- Smooth action read more
We perfect discipline
We perfect discipline
For all this time of trade I have made thousand errors, I know strong and weaknesses. I don’t have not enough attentiveness, discipline what them not to repeat. If to a smog would will cope with that what not to repeat an error that my results strongly to improve.
In the majority trainings for infringement you corrected put to yourself what that significant punishment and I too need that that such to think up. Yes loss of money already also is punishment at fulfillment of the wrong transaction, but I accept it as the fact that from minuses not to get to, all the same any plus will block some minus transactions. read more
Day trading video (04.11.2010)
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