What would you have done had the market dropped to 160 after your last "big finish" add? Buy all the way down?

I have to disagree with you here - flying a broken plane is not the same as trading out of a drawdown. For one thing you have no choice but to land the plane whereas you have the choice as to whether or not you'll take a break from trading. Revenge ...

I've been trading since 2000 and am 21 now and looking back I'd have to say it was much tougher emotionally and mentally to trade at such a young age. I think you need the maturity to make it really big - you're not going to make a fortune (and hang ...

The neckline has to be broken for it to be tradeable. Wait for it to break either 240 or 230 before taking a position. Above 240 and the whole pattern becomes invalidated - often a much more powerfull signal than an orthodox h&s. November is one of ...

I guess it could be argued that since the Bell Curve doesn't hold in financial markets because of fat tails, a random entry with a higher r/r ratio should be profitable. IMHO I think there are better ways to trade than to enter randomly. Good luck.

I feel ill when I see indicators on a chart.

It's exactly the same as a normal SMA, only it's displaced a few bars forward. The 3x3 DMA is a simple MA displaced forward 3 bars. You can do this manually on MT4 by creating a 3 period SMA, clicking on properties and where it says shift (displace) ...

Short answer; Forex is OTC ie. there is no central exchange and as a result there are no official volume numbers. You can use the numbers from the CME currency futures but that only represents a tiny fraction of total trade. The volume you see on ...

I will not blow out because.... I'll worry more about not losing big than how much I can make in one trade.

Just technically speaking the trendline was busted before you went short. Not a good idea if you're using trendlines as a major tool. As a result you ended up going the wrong direction on the trade. Other than that the poorly (unlucky) timed entry ...

I agree it is a very weird outlook. I'm just try to change the whole "I bet if I hold onto this trade a bit longer it will turn around and become profitable" mentality. In business if things go wrong, working harder and more capital will usually be ...

That's my point, you have to accept your losses (a very Mark Douglas thing to say, but it's definetly true) and to take it a step further, you have to learn to love your losses. Just to make it clear; a loss is what your trading plan says is a loss, ...

Try reading what I put up here: url It's all good for people to tell you to be disciplined but as critical as discipline is, it won't get you anywhere until you start thinking differently.

I hope Darkstar makes an appearance at FF sometime soon, it's just not the same around here...

I find the trades that I'm most uncomfortable with are often my biggest winners. You could say the counter-intuitive trades are the most profitable. Example, "This market can't go higher" - it almost always does. Or how about "Whoa, this thing is ...

If you have a different style we obviously won't agree on everything . But the drawback of hanging onto a trade that's not working straight away (relatively speaking) is the opportunity cost. Something very important that I want to stress here is ...

That's the point of this thread; it does matter how you think about things like taking losses.

Discipline is super important - in the Market Wizards series it is referred to as the most important thing by many of the traders interviewed. You need to think differently to be disciplined about disciplined.

That's why I also use time stops - if a trade isn't moving in my direction quickly* then I get rid of it. Most of the time it would have turned into a loser. * Quickly is a subjective term and is relative to your timeframe and trading plan. As a ...