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- backinblack replied Sep 8, 2007
Hey V, There's a specific name for this. It's called: revenge trading. It's about the only bad habit I've been able to beat.
- backinblack replied Sep 8, 2007
Hi Venca, Cutting losses is something I lack in discipline to do effectively. I make the tragic mistake of moving out my stops before they get hit. This works great sometimes, but it eventually catches up to me. To effectively exit, I just need ...
- backinblack replied Sep 7, 2007
Venca, When we talk about setting a goal based on a percentage, it is recalculated every day based on our account balance THAT DAY. So no, it doesn't accumulate from day to day. You go for a fixed percentage and recalculate daily (or weekly, if that ...
- backinblack replied Sep 7, 2007
Super DOM — That Super DOM (Depth of Market) and the L1 and L2 queue alone are enough to switch to NT. And, NT works with IB brokers, as well as Gain. Plus, I can tape-read with the Time and Sales window. It not only tells me when something ...
- backinblack replied Sep 7, 2007
Hey Brent, What I've found is that it all depends on how fast the market is moving. Between midnight and 3:00 am EST, I can usually "steal a tick/pip" by entering on a limit order. But I don't always get filled, and since I refuse to chase a trade, ...
- backinblack replied Sep 7, 2007
Yep. I have my profit target defined before I even enter the trade. I set it up for anywhere from 2 -- 4 ticks. How can anyone make money on only 2 -- 4 ticks? Enter a high probability setup, and trade multiple contracts. 10 contracts (or lots, as ...
- backinblack replied Sep 7, 2007
Ninja Trader — Dan over at Amp Futures gives a Forex demo in Ninja Trader, and he is very patient with helping you getting it set up. I would personally prefer to get set up in currency futures, however.
- backinblack replied Sep 6, 2007
I think we're all too stunned by the beauty of your avatar. Wow!
- backinblack replied Sep 6, 2007
Pretty funny. Give my regards to Tony Montana. BTW--I don't have the courage for commodities just yet. Let me know how it works out for you.
- backinblack replied Sep 6, 2007
Dude ... you are even sicker than I had hoped!
- backinblack replied Sep 6, 2007
Hey LT, simple question from a simple kinda guy ... — It has actually sunk into my pea-brain two things: Zooming out to maximum on chart (~10 hours) gets the full wave effect? -- this is what you recommend ? Another purpose of the spine is to ...
- backinblack replied Sep 5, 2007
Buying Support — Buying support with a fixed target of 3 ticks, then getting brave enough for 5.
- backinblack replied Sep 5, 2007
I'm demo-trading this on Euro Futures (6E) now.
- backinblack replied Sep 5, 2007
Sakes alive, kid, let it go.
- backinblack replied Sep 5, 2007
You're one of the nicest guys on the net. Okay, this was a stupid entry, but I moved my stop out enough to let it turn around for a tick to cover my commission. On the teacher's blackboard: I will not go long in a downturn. I will not go long in a ...
- backinblack replied Sep 4, 2007
I should make myself more clear. I mean only one or two trades with only 2 or 3 pips profit each. Think about it. 5 ticks profit, which shouldn't be too difficult to snag with two trades, means about $1100 with 20 contracts in the currency futures ...
- backinblack replied Sep 4, 2007
Alternate entry scheme, or alternate stupidity? — Hey LT, I've been using the rainbow different. I've been using the spine for direction, but entering when I see the faster WMA's cross over the slower ones with divergence (i.e., when they ...
- backinblack replied Sep 4, 2007
Might I suggest... — Hi Bruno, Not that I'm an expert, but I think it is a more productive strategy that instead of maximizing your pips over the 20 range, that instead you go for one or two high probability trades while doubling and/or ...
- backinblack replied Sep 4, 2007
Hey, Bruno — Hi Bruno, Note the double entry towards the end. Then on the very last exit, there are two exit marks. That's what made the session for me. In other words, had I not doubled-down on the last trade, something I don't recommend for ...
- backinblack replied Sep 3, 2007
Rainbow Sighting Over the Futures Market! — Not too bad for an hour's worth of playing around, eh? One stop-out, but still a nice profit at the end of the hour.