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Old Jan 21, 2004, 10:55pm   #11
 
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frugi started this thread Hindsight can provide the best homework. Thanks .
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Old Jan 22, 2004, 11:55am   #12
 
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Hi Frugi

I'd almost forgotten you had left iii for here, I hope you are keeping well.

If I may speak frankly, and no disrespect intended, but some people may view this thread as rather pretentious.

You already have your own web site on which you publish your trading activities, so why the need to duplicate the information here? Would it not be easier to simply give people the URL link at the end of each of your posts, as I recall you used to do on iii?

You are also setting a precedent. There must be dozens if not hundreds of people who can open up similar threads, is there not a danger therefore that before long the whole board will become cluttered.

I'm raising these doubts in the spirit of friendly enquiry.

Chris
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Old Jan 22, 2004, 1:09pm   #13
 
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Hi frugi,

As you know, I used to read your excellent thread on fillyaboots (and sometimes tried to contribute something useful myself). I must say that it was one of the most informative, thought-provoking and entertaining threads I have ever followed.

Please, please do not be put off by any negative comments about what you are doing. I am sure that many people will find this thread extremely useful. And those who do not... well no-one is forcing them to read it, are they ?

Good luck and I am looking forward to your posts.

Regards,
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Old Jan 22, 2004, 2:44pm   #14
 
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frugi started this thread Cheers ivor

Don't worry I shall not be put off. I received kind and flattering support from several members of t2w within a few hours of the thread going live and I fully intend to continue (until posting my losses becomes too embarrassing ) I have a feeling this will do wonders for my discipline so I have everything to gain by continuing.


LoadaDosh,

Quote:
You already have your own web site on which you publish your trading activities, so why the need to duplicate the information here? Would it not be easier to simply give people the URL link at the end of each of your posts, as I recall you used to do on iii?
I have a simple, boring, flaky moving average system much like any other on my website that I run in the background through a spread betting firm. Very unpatriotic of me I'm sure. This has absolutely nothing to do with my ES daytrading activities as described on this thread.

Anyone with a website in their profile automatically has a link to it at the bottom of their every post, if only you'd care to look.

Perhaps your time would be better employed postulating your strong views on technical analysis rather than picking holes in an old adversary!
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Old Jan 22, 2004, 3:06pm   #15
 
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Frugi

Well done on the thread and on yesterdays profit. You seem as though you have a similar problem to me, all too often trading against the trend!

But you`ve also shown how when using direct access a profit can still be made, when I first started I was trading like that with Fins and D4F imagine how different your P/L for yesterday would`ve looked via one of them

Keep up the good work and posts , and never forget the ONLY way to eat an elephant is one bite at a time.

A small profit still puts you in the 5%

Steve
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Old Jan 22, 2004, 3:09pm   #16
 
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Quote:
Keep up the good work and posts , and never forget the ONLY way to eat an elephant is one bite at a time.


That HAS to be quote of the month!!
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Old Jan 22, 2004, 10:20pm   #17
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Frugi,
Really looking forward to this thread. My new trading PC arrives in less than 2 weeks so I'll be with you in the market learning as I go.
I notice there's been some negative comment all ready. Ignore it,seeing someone's trades and reasoning soon after they occur must surely be a real help to all the beginners out there
cheers,
hampy
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Old Jan 22, 2004, 11:05pm   #18
 
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D'oh

frugi started this thread I made one good trade today and that was a long at 1142.50 just after the doji sandwich around 8.00. I waited to buy until the price moved above the yellow pivot line and was rewarded with two long bars up (10 min). I sold this as it reversed off the top of the channel at 1144.75.

Unfortunately I also made 17 poor or unecessary ones. This was thanks to my starting trading in the lunch hour (I had been out scaling walls during the arvo!) which swiftly pitched me into a thicket of angry whipsaws.

It's no good scalping sly quarters if there's an equal number of halves and points lost. Or, while on the subject of elephants, I would do well to remember that I cannot defecate like one if I only eat like a bird. I got away with taking quarters yesterday because I was very careful with entry and concentrating intensely. Today I was not so careful, probably a touch distracted, and before long I was down over $250 and spent the rest of a grim day chasing losses instead of staying patient and treating each trade as if I had made none previously (i.e. on its own merits).

Today was quite choppy in general so I doubt anyone found it a breeze which is a poor but slight defence. But there is no excuse for trading (gambling) after 8.45 and even after the close just to try and grab a bit back.

I also missed the TICK/RSI PD between 6.30 and 7.00. I didn't fancy shorting the double top at 8.20ish as there was no TICK divergence.

However it is worth mentioning that my loss is at least within the bounds of my trading plan - I am allowed a max loss of $400 a day (composed of $25-$175 per trade (depending on potential perceived reward)).

Today's travesty: -$162.50-(18*$4.80) = -$248.90
Day 2 running total: -$189.20

Hope you guys did better Cheers for the PM too, Rosso.
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Old Jan 22, 2004, 11:06pm   #19
 
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frugi started this thread Eeuw...here's what not to do. Note the doubling up revenge trade too!
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Old Jan 22, 2004, 11:12pm   #20
 
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Yes, a hard day with nothing to get your teeth into.....
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