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Plan the Trade

  • #11,561
  • Mar 24, 2019 2:05pm Mar 24, 2019 2:05pm
the 21 ema is very popular along with the 50 is futures but like anything else how to use the is different from TRADER to TRADER. I tried every indicator that's out there and came to the conclusion that if I can see HHHL LLLH I didn't need them
  • #11,562
  • Mar 24, 2019 3:11pm Mar 24, 2019 3:11pm
And not all days will be as clear and as easy as those nice trending days.

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  • #11,563
  • Mar 24, 2019 11:21pm Mar 24, 2019 11:21pm
Good detailed explanations DD.
  • #11,564
  • Mar 25, 2019 7:54am Mar 25, 2019 7:54am
Quoting ddaytrader
Then the first day they try it they get a day like this:....
Isn't it interesting how our minds work? Its that point of change, when we go from demo to live, or from x to x + y contracts that our "inner demons" seem to rise. That feeling that you need to intervene in a plan you have already proven to yourself. This is what i think trading is about. Quenching that dry yell for help with waves calm focused thought. You almost have to brainwash yourself.

Also a lot of trading is setting up your life to be able to trade as well.
  • #11,565
  • Mar 25, 2019 8:10am Mar 25, 2019 8:10am
Quoting LookinGood
{quote} Isn't it interesting how our minds work? Its that point of change, when we go from demo to live, or from x to x + y contracts that our "inner demons" seem to rise. That feeling that you need to intervene in a plan you have already proven to yourself. This is what i think trading is about. Quenching that dry yell for help with waves calm focused thought. You almost have to brainwash yourself. Also a lot of trading is setting up your life to be able to trade as well.
I think that is exactly right. When starting out I blew out a number of small accounts due to lack of discipline and control. I could take a $1000 Demo account to $10000 in a month. Then I'd go live and blow $3000 to $5000 of real money in a week or two. When I'd go over my live trades, I'd invariably see that I abandoned my well-crafted trading plan within the first few trades ... and sometimes I had never followed it at all.
  • #11,566
  • Mar 25, 2019 8:30am Mar 25, 2019 8:30am
Quoting LookinGood
{quote} Isn't it interesting how our minds work? Its that point of change, when we go from demo to live, or from x to x + y contracts that our "inner demons" seem to rise. That feeling that you need to intervene in a plan you have already proven to yourself. This is what i think trading is about. Quenching that dry yell for help with waves calm focused thought. You almost have to brainwash yourself. Also a lot of trading is setting up your life to be able to trade as well.
The last sentence is especially true. I am thinking of replacing the french doors in my home office and put a freaking dead bolt lock on it. With that said, we have to be careful not to isolate our loved ones from our lives :-)
Staying in my lane...
  • #11,567
  • Mar 25, 2019 8:42am Mar 25, 2019 8:42am
123 setup
  • #11,568
  • Mar 25, 2019 8:56am Mar 25, 2019 8:56am
Three minute ES Opening Range Breakout +4 and the first FTM short +4 (have the DOM set for four point scalps today as this is demo and I am treading the NQ - I can't be worried about manually trailing a stop in demo today.

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  • #11,569
  • Mar 25, 2019 9:05am Mar 25, 2019 9:05am
Hi Div, did you take short at 2400?
  • #11,570
  • Mar 25, 2019 9:24am Mar 25, 2019 9:24am
Quoting Divergence
123 setup
looking at ross hook for ym .. is it max 3 pb candles?
Become the casino
  • #11,571
  • Mar 25, 2019 9:33am Mar 25, 2019 9:33am
Quoting erasmus66
{quote} looking at ross hook for ym .. is it max 3 pb candles?
yes
  • #11,572
  • Mar 25, 2019 9:34am Mar 25, 2019 9:34am
Quoting namakan
Hi Div, did you take short at 2400?
2400?
  • #11,573
  • Mar 25, 2019 9:38am Mar 25, 2019 9:38am
ym gimmee 123 filled 1020 at 25 just love the 123 ym
  • #11,574
  • Mar 25, 2019 9:42am Mar 25, 2019 9:42am
Quoting Divergence
{quote} 2400?
7324.00
  • #11,575
  • Mar 25, 2019 9:56am Mar 25, 2019 9:56am
Quoting namakan
{quote} 7324.00
my entry was 2550 no fill
  • #11,576
  • Mar 25, 2019 10:06am Mar 25, 2019 10:06am
Quoting Divergence
{quote} my entry was 2550 no fill
thanks, yes i see looking back at it 7324.00 was bit low
  • #11,577
  • Mar 25, 2019 11:39am Mar 25, 2019 11:39am
This wonderful Forum exists, and people in third world nations remain unaware??? Unbelievable!
  • #11,578
  • Mar 25, 2019 11:59am Mar 25, 2019 11:59am
Long-time lurker, but decided to get an account to interact with fellow traders as I move into trading full-time. Massive props to Divergence and Hilmy for sharing their knowlegde with the rest of us, the insights have really grown on me.
  • #11,579
  • Mar 25, 2019 12:02pm Mar 25, 2019 12:02pm
Quoting ddaytrader
{quote} I think that is exactly right. When starting out I blew out a number of small accounts due to lack of discipline and control. I could take a $1000 Demo account to $10000 in a month. Then I'd go live and blow $3000 to $5000 of real money in a week or two. When I'd go over my live trades, I'd invariably see that I abandoned my well-crafted trading plan within the first few trades ... and sometimes I had never followed it at all.

100% of my trading losses have come not from the lack of a plan, but from an absence of implementing the plan. That and placing trades via a phone interface.
  • #11,580
  • Mar 25, 2019 12:41pm Mar 25, 2019 12:41pm
VEE Sorry Harold, I just struggle to accept this). don't see why the struggle if you can grasp the suppy/demand concept of commerce you wouldn't struggle so much. think of it as I am not an impulsive buyer/seller hint hint
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