This is really really hard!

[vinicius]

Same problem here... I made 100% of my capital on monday, 96% on Tuesday and then the things got dark.. Lost everysingle penny of my profite and my capital..

I think i got greed and right after my 2st loss of the day i started place trades and more trades with a really tight stop loss..

I just found this forum yestarday and Its helping a lot, I`m going to take sunday off to read and learn about..

Any book recomendatios for a sunday?

Anyway.. I just would like to tell it for someone.. All my friends think I`m crazy and I should give up on my future.. So, I started keep things for myself, whats pretty bad..

Sorry about english.. not a native speaker!

 

[Bolimomo]

Same problem here... I made 100% of my capital on monday, 96% on Tuesday and then the things got dark.. Lost everysingle penny of my profite and my capital..

Sounds like you have made some very big bets!

A 100% gain on a portfolio is one day is huge. It is easier to do if you have only $2000 in the account. But imagine if you have 2 millions in your account. Losing 2 millions in one day is gigantic (unless you are a billion-dollar portfolio manager).

Sorry to say this but it sounds like you are more gambling than trading. Trading is not about get-rich-quick, all-or-nothing. Trading is about getting consistent gains when the probability is in your favor.

Any trading book can tell you don't risk more than 5% of your capital in any one trade. Don't risk any more than 10% or 20% on any given day, or you must quit and regroup. It's money management.

If you have this issue, I would advice to look up a few trading books (most trading books talk about the subject) and read on the "Money Management" chapter.

 

[nine]

Dick's point about multiple oscillators is a good one iza. Its essentially the same information repackaged slightly differently and possibly with slightly different cycle lengths. I copy something I just posted in another thread:

It does seem to be an evolutionary process. People start off with lots of indicators probably because they seek a certainty that isn't present in trading. They start with indicators that tell the same thing (and are thus, more than usually useless) and then pare them down as they realize the ineffectiveness of those indicators. Indicators are the passion of analysts, price and s&r are the passion of traders.

Personally I wrote 1000s and 1000s of lines of indicator code for Sierra Chart even as I was abandoning indicators. I now have 1 ema on some of my charts and none on others. I have had (and I group them here so you don't have repeats - 1 is enough as you learn to drop them):

Trend: ema, sma, wma, hull mas, t3 mas, macds
Acceleration (oscillators): macd, stoch, cci, rsi
Acceleration might have gone too far: Oscillators at extremes + keltners and bollinger bands (range extension).
Acceleration decreasing (so trend might be stopping, divergence): macd, stoch, cci, rsi
Support and resistance: true horizontal s&r, trend lines, trend channels, moving averages that often provide the early bounce points in a trend.

I now only have the last one because when price trades over a well chosen ma for a while you can be more sure of current trend (but you can do just as well with progression of s&r (moving hhs and lls)) but most importantly because its a lazy way of drawing the initial trend line that price is likely to bounce at. So, one ma, because it saves me drawing trendlines and trend channels.

All else is great fun but essentially empty of meaning.

I wish you well. The faster you evolve to recognize and move through that emptiness the more likely you are to make it to being a trader.

 

[0007]

Dick's point about multiple oscillators is a good one iza. Its essentially the same information repackaged slightly differently and possibly with slightly different cycle lengths. I copy something I just posted in another thread:

It does seem to be an evolutionary process. People start off with lots of indicators probably because they seek a certainty that isn't present in trading. They start with indicators that tell the same thing (and are thus, more than usually useless) and then pare them down as they realize the ineffectiveness of those indicators. Indicators are the passion of analysts, price and s&r are the passion of traders.

Personally I wrote 1000s and 1000s of lines of indicator code for Sierra Chart even as I was abandoning indicators. I now have 1 ema on some of my charts and none on others. I have had (and I group them here so you don't have repeats - 1 is enough as you learn to drop them):

Trend: ema, sma, wma, hull mas, t3 mas, macds
Acceleration (oscillators): macd, stoch, cci, rsi
Acceleration might have gone too far: Oscillators at extremes + keltners and bollinger bands (range extension).
Acceleration decreasing (so trend might be stopping, divergence): macd, stoch, cci, rsi
Support and resistance: true horizontal s&r, trend lines, trend channels, moving averages that often provide the early bounce points in a trend.

I now only have the last one because when price trades over a well chosen ma for a while you can be more sure of current trend (but you can do just as well with progression of s&r (moving hhs and lls)) but most importantly because its a lazy way of drawing the initial trend line that price is likely to bounce at. So, one ma, because it saves me drawing trendlines and trend channels.

All else is great fun but essentially empty of meaning.

I wish you well. The faster you evolve to recognize and move through that emptiness the more likely you are to make it to being a trader.

Strongly agree. Price + S/R is key.

 

[pclark]

Do this...

1. When MACD cross down and Indicator is below 0 line go short.
2. When MACD cross up and indicator is above 0 line go long.
3. If MACD cross down and indicator is above 0 line wait till indicator crosses the line then go short.
4. If MACD cross up and indicator is below 0 line wait till indicator crosses the line then go long.

You can usually get 2 points or more if you have the nads to hold on. This is not my strategy. I learned it on another forum and it is so simple it's stupid. It is not the holy grail but it will keep you on the right side of the market.

On top of this draw support and resistance lines for the day using OHLC of previous day plus any S/R from previous days that looks important. You can then use this to help figure out what the price will do once you enter your trade.

Paper trade this for a while. Hone it and get your entry and exit down. See what you can do.