Plan the Trade

good luck mc .. stay in touch

will buy extreme if we pb

123

well its that time again I have been contacted by some traders who want me to train them. I told them I did a video and have posted charts here but they still want 1 on 1 training. So since this is cable guys thread he should be doing the majority of posting after all this is his journal. I wont be posting here like I have I will pop in every once in awhile to see how you guys are doing and to chat take care and WAIT FOR THE TREND AND TRADE THE PULLBACK !

will buy extreme if we pb

slow day

Looks like the thread has died I guess I left at right time

Just been catching up on here. Not so much a case of the thread dying. I simply haven't been trading very much in the last couple of weeks, for me to share anything.

Credit for a very honest post to MC. It reminds me of when i was trading oil several years ago now, where i was caning it on one hand, but running losers too... in the end those positions compound upwards and the market just keeps going against you. Actually i've wiped out a few smallish (£5k) pots in my time, but it's all part and parcel of it.

I think all i can re-iterate, is that everyone must find what works for them. Harold, is easily the best trader that i know of, but it's through years of experience.
I don't think you can short-cut that.

I have often said that my character doesn't lend itself to making a good trader, because i'm far too emotional, thus i suffer from the euphoria/fear factor more than i should. It won't change the end result, just that it takes me a lot longer to conquer each hurdle than it does for others.

I too, have gone full circle regarding MP, stating a while back that it was the best thing i've come across in my time. I still think that is true, but even so, i have gone back to how i was trading at the start of the year - that is looking for corrective chop where we get our nice pullbacks after a 123 to test the pinbar of prior move... As for a trending market, i tend to look for the C&H set-ups, but even then i like to wait for the 123 back into trend. What i find is that if decent volume is present and the trade is back into overall trend, you are not likely to get your 123 trigger and retrace, more likely for it to trigger and run... Well, i've posted dozens of examples over the past couple of months.

I have found that, although these corrective moves can happen at any time, it is impossible to sit and watch for hours and i have discovered it happens more often during the lunch hour, so i tend to start at the end of the morning session and may do a couple hours trading until mental fatigue sets in.

That's the thing that i feel MC would probably need to work on. You can not trade constantly. You need to find your favourite set-ups and wait for them. A fine blend of patience and discipline that Harold has off to a tee.

I will revisit trading the open at a later date, as i was having some canny results (albeit on demo) a while ago. I too, though had a couple of heavy losing days and it made me rethink a bit... nothing wrong in that, as i keep maintaining, find what works for you and stick with it.

There is no possible mechanical approach to trading the market. It has it covered in every which way that you decide, however there are methods which will give larger wins than losses and even, better win rates than losers. but discipline is key.

good post CG. You are absolutely right about overtrading. Going to start doing the open hour 9:30-10:30 EST timeframe and take the set-ups I see. Will quit trading after the first hour whether I'm up or down for the day. There are ample opportunities to make money. No need for me to take early bird trades between 8:30 and 9:30 when some of the news comes out either. Plenty during the open hour and then I will shut it down. That's the discipline I need to have for myself.

Good posts CG and MC I only trade the first hour if I get up over 50 I will continue 1 more trade

using yesterday's profile even though it was a holiday:

... and to think, CG, all these years I thought it was me ...

Hopefully you guys caught the pullback at 6775

yes great signal +20

123 setting up

took it to poc for +8

Why 20 5 up candles was up 49 got 44

yes should have sat in .. got a fixed 20 tp .. will change

great work

Took extreme short up 24 got 18