johnpaulca
12,036 posts
msg #137152
- Ignore johnpaulca |
7/30/2017 9:15:42 AM
Survival 101
1. When losing in trade after trade, lower your trading size by 50%. Trade smaller until a winning streak begins. Go even smaller if needed or even take a break from trading.
2. Only risk 1% of your capital per trade. While this is standard, you must avoid the temptation to trade big to make up your losses. This usually compounds the problem because the market is not cooperative with your style during a down trend.
3. Stay disciplined with your entries and exits. Do not get sloppy.
4. Do not abandon your method, you have to stay the course so when your method comes back in favor you will start winning again.
5. Do not take losses personally. It is not your fault that the market is not conducive to profits if you are trading your proven system.
6. Do not fall into the temptation to let losers run. Cut your losses at predetermined stops regardless of the pain.
7. Do not stop tracking your watch list for the markets you trade, be ready to take the right entry when it presents itself. Many traders get so beat up on a string of losses that they stop focusing on their watch list and stop taking high probability entries. You have to be ready to jump back on the boat when it is ready to sail again, just don’t drown while your waiting on the shore
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karennma
8,057 posts
msg #137190
- Ignore karennma |
7/31/2017 10:07:41 AM
Ewwww .. this is bad.
Looks like a down week.
Might be a down month .. according to rumors.
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BarTune1
441 posts
msg #137198
- Ignore BarTune1 |
7/31/2017 11:56:34 AM
Not sure that following rumors is a great trading strategy ....
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johnpaulca
12,036 posts
msg #137202
- Ignore johnpaulca |
7/31/2017 12:27:15 PM
AMZN...bid long $998...hard stop $996.7
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johnpaulca
12,036 posts
msg #137206
- Ignore johnpaulca |
7/31/2017 12:41:12 PM
johnpaulca
10,824 posts
msg #137202
- Edit message 7/31/2017 12:27:15 PM
AMZN...bid long $998...hard stop $996.7
****************************************************
moved stop to $994....price action favoring buyers
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johnpaulca
12,036 posts
msg #137207
- Ignore johnpaulca |
7/31/2017 1:10:56 PM
AMZN...stopped out...heading towards lower BB40 $990
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karennma
8,057 posts
msg #137210
- Ignore karennma |
7/31/2017 1:41:49 PM
I'll be dog-gone. This is a repeat of 4 weeks ago.
Remember this, JP?
Only this time, it's worse.
++++++++++++++++++++++++++++++++
karennma
6,657 posts
msg #136611 7/4/2017 7:27:40 AM
johnpaulca
10,714 posts
msg #136593
- Ignore johnpaulca 6/30/2017 3:34:19 PM
AMZN($970.89)....you have to bet they wouldn't let this drop too much. I went long here and will hold over the weekend...yikes!!
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No, you didn't!!
$990
$980
$970
$960
$950
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johnpaulca
12,036 posts
msg #137217
- Ignore johnpaulca |
7/31/2017 3:24:08 PM
K....I'm doing the same trade like last time. Got filled at $988. I have to have faith in my skills wrong or right. Will see what tomorrow brings....glty
-I would have like to get in at $965, probably wouldn't see that today
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BarTune1
441 posts
msg #137219
- Ignore BarTune1 |
7/31/2017 3:43:28 PM
long SCO @ 36.10
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johnpaulca
12,036 posts
msg #137221
- Ignore johnpaulca |
7/31/2017 3:52:27 PM
/Cl....if we make it back to $54 then SCO could re-visit $31ish, I would need to average down.
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