Support and Resistance Trading Forum

Re: August trading
By:VAPER
Date: 8/29/2010, 5:28 pm
In Response To: August trading (Linda)

Linda ...

I notice in your post that you've identified two of your own observations about your trading. Well three actually, you're honest. And really you're half way to success, (how you define that success is unique to you).

You stated first ... **only thing I've found that seems to work is when I have $200-$400 profit per contract to take my money and run.**

That tells me that you've got a clue to what works. Believe me, there's nothing wrong with closing the trade with that amount of profit. In fact, a BE (breakeven) trade or even a losing one can still be a winner. It's the bone-headed trades that are in a league of their own.

Then you stated ... **It seems if I go for the profit target, the market invariably turns around, retraces and bites me before getting there.**

You identified another common trait of these markets, and they do this. And I've seen people through the years that constantly defy the markets, thinking to themselves "it's going to do this" or, "it has to do that".

I say to them, "really"? Then I say to them "why"? You wouldn't believe the answers I get, none of them relevant. Because their ego is the size of Tibet.

The market doesn't care what we think. And you an I don't know what's going to happen next, and the beauty of it is, we don't have to know to make money.

Besides, if we did know, we all would be kagillianairs.

I think you're getting good experience, something that cannot be bought.

Here's a good link to look at ... http://www.cmegroup.com/education/videos-viewall.html and look-up "Jeff Quinto". weather you agree with him or nor, he does have a point.

Take care Linda, I think you'll make it. : )

ONLINE COMMODITIES TRADING