Recent content by tdrtw

It appears you know your issue and know what you need to do. A good book to read is Mark Douglas - Trading in the Zone, but then I'm sure you already know this. The_Hare has made a very good point - belief is very important. My suggestions would be to keep a very strict diary of your trading...

>> Hey guys just wondering what computers you use for trading... The machines you see are Pentium 4's, 1 Gig ram, 30 gig Hard Drive, running XP Pro, an Oracle Database and my Java programmed Automatic Trading System's that uses Interactive Brokers Application Programming Interface to connect...

>> And so with this in mind I figured the best way to preserve capital would be to move your stop loss to breakeven whenever your trade starts to go your way (I usually move it to breakeven after I gain 5points). It really depends on your strategy. I'm gathering you are having issues with "am I...

davidc123, try doing this. It may sound weird, but it's totally the same (now no drinking AT ALL whilst doing this). Go out in broad daylight by yourself (no one to prop up your confidence, as you must learn to give that to yourself). Go up to a girl that attracts you and initiate conversation...

>>Just out of interest, does anyone here who either day trades or has day traded, do so in a purely mechanical and systematic fashion (with automation as well)? I day trade Futures using complete automated systems which I designed and progammed myself.

bbmac's suggestion for Mark Douglas's book - Trading in the Zone would be money well spent. I only paid $15 for the book, but felt I got thousands of dollars of "worth" from it. I've read it many times, each time letting the information sink further in. If you paid 1600 for the course, and you...

>> That whole notion of having a system that's got a 51% chance of leaving you with profit (R:R 1:1) I would presume, that having a 1:1 system, you would need to be more on par with a 60% strike rate to cover slippage, commissions and then enough to stay ahead of the game. I use a 2:1 system...

>> If the failure rate is so high (90-95%) why is trading so popular? I would question if this is a high failure rate. I have no data on this, but I bet it would reflect pretty much the failure rate of any human endeavour that requires one to fully stand on their own feet. Take for example...

>>I was indeed under the misconception that I needed to trade full market hours to do well Ironically after a few years, I've found less time spent in the markets and looking at screens equates to more (less is more ... is more or less what I am trying to say). You have technology behind you...

Many years ago I traded stocks but ended up moving to the Futures market and haven't looked back. There is a lot to understand, and unless you have a big account (>1 million), I would suggest staying away from holding overnight positions (aka day trade the markets only). I would suggest also...

>> would appreciate any useful help/advice in this area It appears you are very focussed on how to enter a trade, when it is of utmost important on how you exit the trade. I posted the below up on another thread. It gives an overview of my own personal system. It may help you to devise your...

>>... i am deciding which park to find my bench! Below is a link to a video: http://www.ted.com/talks/dan_gilbert_asks_why_are_we_happy.html

>>Old as the hills argument: are most traders of superior intelligence, or quick witted del boys with balls of steel,or a mix? Generally the "smarter you are or perceived to be", the more pressure you have to be correct. Balls of steel generally implies taking on great risk, which is...

>>Making my trades public goes a long way to making it easy to stick to my rules. I fear public ridicule Excellent idea. I will not make the error of asking you "how much money have you made this year", but rather "have you followed your own set of rules for the year?". Non Trading people like...

>>Perhaps I can get a better handle on the concept if I had a concrete example. I'd appreciated it if some here can provide an example of a trading strategy that has an edge, describe that edge and how it's exploited Back to the original post, I would characterize my edge as "unquestioning...