I really like IB's trading platform. Their charting is the biggest pain. I've traded stocks through them but very limited currencies, due to minimum trade size parameters creating asymmetrical leverage on daily/weekly trades...
I'm pretty sure you can open a demo account with them though. I did, but that was a while ago...

__________________
I can do this. It's simply a matter of time, energy and prayer.

You're probably in good company with Rac

__________________
I can do this. It's simply a matter of time, energy and prayer.

Awesome Trading Ben!

__________________
I can do this. It's simply a matter of time, energy and prayer.

This is a great quote and really hits home for me. I've been doing some studying on bars reaching their first zone recently. This quote is so true. For me, I want to focus on simply becoming profitable consistently. That means taking only the highest quality setups and managing them the 'safest' way - which simply means to know where the first trouble (target) area is and have a plan for yourself when price reaches it.

I also realize this type of strategy might not yield me huge gains (depending on the action I take at that first target), but that isn't the focus right now. Conversely, look at Storage Pro - correct me if I'm wrong, but it seems he is having some pretty decent success by moving his stop to b/e quickly and then holding for some runners. Many get stopped at b/e, but those few that run for multiple r gains make a big difference. More importantly, he's removing all risk from the trade early on, and then simply letting the market work. Jarroo and James16 trade a similar strategy.

There are always other markets we can apply this trade management strategy to. Doing so will increase opportunities, thus allowing us to be very selective in what setups we take, paying special attention to multiple confluences, round numbers, bar size, location in general, space, etc.

It's interesting how when you take a step back to look at trading strategies with an open mind (without any preconceived notions), little bulbs start lighting the path to clarity. Of course, I must give some credit to Fiji and TiaForex, who have been helping me through this reflective period as well. And of course Mike for submitting his advice on several occasions. The psychology section of the pf has been truly enlightening for me in the last month.

Enjoy your weekend everyone. Take some time away from the charts.

Josh

__________________
I can do this. It's simply a matter of time, energy and prayer.

Seems too simplified to me. I think perseverance can overcome our college educational 'deficiencies' (MS in engineering)...I HAVE AN ULTRA STRONG CHANCE OF SUCCEEDING IN THIS BUSINESS. Maybe I'm an outlier.

I am what I think I am. But that's just me

__________________
I can do this. It's simply a matter of time, energy and prayer.

Totally agree Nasir. I'm in the process of realizing that now and it's make a big difference in my mindset and how I go about trading. My education and analytical background have much smaller significance here than originally thought. I'm starting to bring the 'art' into trading instead of treating it solely as 'science.'

Let the chart tell me it's 'story.'

Josh

__________________
I can do this. It's simply a matter of time, energy and prayer.

Hey Bundy,
I have some experience with this. Eager to read your link. I've been on a bi-phasic schedule for 9 months now, though I'm recently a little torn. I might be going back to a normal 7.5hr night (5 cycles) as I train for a marathon and while I'm only trading d/w charts anyway, so no big need to get up so early.

http://www.stevepavlina.com/forums/h...tml#post346094

Sorry for throwing thread slightly off track

Josh

__________________
I can do this. It's simply a matter of time, energy and prayer.

Bertie! Hey man. Totally agree here. I'm only live trading d/w charts and haven't had a trade this month yet. I've heard from several people that the charts just aren't providing us good opportunities on the longer tf right now.

But they will in time. This is the time to develop the patience requirement... fighting that urge to trade, fighting those feelings that we must trade to be profitable and to succeed. There are many great quotes but one that I always think of, from Mike, "It's what we do between the great setups that makes the difference.".

If we fill that time taking crappy trades, then the good trades only get our account out of drawdown. If we relax and let the good trades come to us and avoid taking those setups that don't meet our rules, then the good trades can build our account. That's how I look at it anyway. I'd rather take 1-2 strong trades a month and have them win, then take 10 trades and be in drawdown at the end of the month. I know you would too as I know you have great discipline in your trade selection.

I must realize that winning is more important than trading. Sometimes I must wait to win by waiting to trade. I'm realizing that I can't force profitability. It takes time to develop. Additionally, I'm realizing that success is much more than profitability. Taking all the necessary steps and avoiding the potholes is also what makes me a success. Then it simply takes experience to reach profitability.

(I know this is much more than you asked for in your post, but it really helps me to write this stuff out, and maybe it will help others too...)

Josh

__________________
I can do this. It's simply a matter of time, energy and prayer.

Awesome examples Benji. THIS is what this thread is about. Continuous examples with money and entry/exit management suggestions/ideas. Great educational tool here. Keep it up bud. - Josh

__________________
I can do this. It's simply a matter of time, energy and prayer.

So true. Been there, done that. Guess we do have very similar stories

__________________
I can do this. It's simply a matter of time, energy and prayer.