Recent content by pmccandless

"Crack the code of forex" :rolleyes:

Exactly how I base the majority of my trades off of. I don't really view it as a breakout trade because the entry is placed where the retrace is anticipated to REVERSE of that area of support/resistance and continue on.

You absolutely can not justify changing your strategy just because 2 trades didn't go exactly the way you thought. If you notice a common occurence over the period of say 30 trades then maybe you could do a little tweaking, but 2 trades? Means nothing man. If you stuck to your plan on those...

Yeah simulators are to the advantage of the broker IMO. They give new traders false hope and confidence, but when they switch to live trading its over. The only thing I like simulators for is to test strategy, but I can do that just by looking at my screen. The psychological aspect of trading is...

Most brokers also have an intraday margin if you're thinking about daytrading. For instance the initial requirement might be $10k but the intraday margin might only be $2k. I've seen a lot with about a $2k initial and $500 intraday.

Nothing today. Slept in and had too many things to get done, but man it would've been a fun day. Have a good weekend folks.

Honestly if I had someone sitting here next to me drilling me like that every day I think my results would improve. It's what everyone needs. I mean look at successful traders working for firms that try to quit and go trade from home, but fail. It's cuz they don't have a boss busting their balls...

Finding books and info on that crap is a dime a dozen. There's a reason for that man. Don't get sucked in!

Everyone has to go through these stages at some point man. Like Paulie said, get away from the computer. Go for a run or workout or whatever other hobby interests you. Getting your mind off of the losses will become second nature after some time and experience.

ThinkOrSwim's new ThinkOnDemand replays real market data from previous sessions so you can test strategies and whatnot. Not sure if thats what you're asking.

Oh and a good person to look up for this topic is Sam Seiden.

Some good points in here, but to get rid of so many lines you're going to have to switch to a larger timeframe like rathcoole and nine said. This is a difficult thing to go over cuz it's not just about drawing lines at every single area where price reversed a little bit. You need to think about...

Support and resistance with price action and volume. You can check out my journal to see what I'm talking about.

Hey guys. Had a couple trades today for about $115 net. First one was pretty nice and experiemented with some scaling out which I don't normally do. Second one was a quick one to lock in a small amount of profits and was pretty much just enough to washout my commissions for the day and a lil...

1 missed long opportunity today is all. Was at the first significant pullback at 11:00 MT. Order was at 2016 but she only came down to 2017. Tomorrow is another day. If you're just visiting for the first time, here are the rest of my videos.