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Friday, July 22, 2011

Happy Friday!

I've been slow to get back in the blogging groove since returning from vacation. Comments are still robust, but I have not added a lot of value. However, others have and are adding value - there is some good information if you take the time to read what they are writing.

In August, I am going to try to focus the blog on one setup so everyone can see how often it happens and how often it works. Focus has been the key to my success, and the biggest problem I see from others is they try to do too many things and as a result tend to trade too much. I will try to flesh out my ideas and share them in the next week or so.

Have a good end to your trading week and a good weekend. If time permits, I will try to put up a chart or two over the next few days.

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4 comments:

David R. said...

I agree about focus and overtrading. I get a lot from the comments, but I also see most people trade 2-3X more than me and I am wondering if we just have different styles, or if I am missing the boat. I am making money, but not as much as I want. But on the few occasions I tried to trade more things always fell apart. Looking forward to what you do in Aug.

Times of Your Life said...

thumbs up....

bl said...

"Focus has been the key to my success, and the biggest problem I see from others is they try to do too many things and as a result tend to trade too much." So true and working on that. Too many cookies in the cookie jar and as Trader X says trade one setup or just nasdaq or...one stock. Consistency is the ticket to any success or failure

Chips and Salsa said...

7/25/11

LTD, 15m, 5ema, Fibs OR, short below bar 3, exit 1/2 at the FE, trailing 1/2 with buy-stop above the high of each 15m candle until $38.50 was retested from beneath at 3:30 EST and exited with net 4R.

Had 2 more trades, a 1R loss (BMC) and a stop-out at breakeven (HOLX).