Replies to post #209777 on Zeev's Turnips Patch-No Politics (ZEEV)

[Newly2b]

Hi, hawk,

Sorry to hear the market is not treating you well of late. I think any trader you talk to can relate to where you are now, because they've all been there once or twice or three times or . . . well, you get the picture! A successful trader does not spring full-blown from the head of Zeus, but must (most often painfully and expensively) master the skills involved.

TG is giving you good advice, and he's right -- if one doesn't learn to take small losses quickly, one often ends by taking much larger losses later (that's probably the first and most painful lesson a trader must master to survive). To my mind, it is wiser to master trading stocks before going into futures or options or currencies, where one can get wiped out a lot faster, but that's JMO.

Each trader has his personal demons that he must identify and overcome to be successful. I have a note over my trading desk that reads, "IT IS ALWAYS HOW YOU BUY IT!", meaning if one buys the stock at the right price (which usually means having patience, and not just jumping in or chasing), one nearly always makes money, or, worst case, doesn't lose much. I still need that constant reminder as I am impulsive by nature! <g> Have you analyzed your losing trades in an attempt to discover what personal demons might be hampering your success?

I would also stress plan the trade/trade the plan to help you over the problem of being too slow in pulling the trigger. If you have already picked the entry, exit and S/L points that offer the best chance for a successful trade and have patience while stalking the stock, you will not have to think before pulling the trigger when your target price materializes.

One last thing, I have learned from watching Zeev trade that one's chance of success is greater and one's risk smaller if one's goal is to take 25 cents from a stock 4 times a day as opposed to trying to get $1 once a day.

Hope this helps. FWIW, I usually have trading difficulties in Jan/Feb too, not sure why, though I suspect that's when they change all the rules, so what usually works, doesn't anymore <VBG>! Good luck to you.

Newly

[ajtj99]

Hawk, if you have not done it already, I highly recommend going through the stockcharts tutorial at stockcharts.com's education site. Here's the link:

http://stockcharts.com/education/

I get the impression you don't do charts, and I can't fathom how anyone can trade successfully without them. Take some time to learn the patterns, how to draw trendlines, and how to read the indicators. Next, limit yourself to set-ups that are clearly one sided in your favor, even if you have to wait days for that to happen, as your account leaves you very little margin for error. Maybe paper trade a bit to get a handle on things and steel your nerves.

Most people who trade successfully use charts. Zeev talks fundamentals, but he buys and sells his intra-day and swing positions based upon the charts.

I would take this opportunity to learn as much as you can about charts and technical analysis in order to improve your odds trading charts and futures.

Furthermore, if you want to trade futures, I'd avoid days where there's a lot of news (like econ stuff and earnings) initially to steer clear of getting stopped out on some stupid spike.

I'm always happy to share what I've learned, and many here are the same.

Good luck!

ajtj99

[been there]

hawk, I think you should check out I Hub board 2059
(recharge your battery, so to speak).

[Train Guy]

Hey Hawk, you out there today? I'm still getting everything going and checking to see what the economic numbers are. I rarely trade the first 10-15 mins. and if you're trading today you might want to skip the first 1/2 hour. If you're going to try for just 1/2 point or so in the first 90 mins. you have until 11:00 so there's no hurry. What's your trading setup like? Can you que your trades in advance? When trading the ES I always have a buy and a sell ready to go at the click of a mouse. And I can change the price and quantiy with just a click of the mouse. I don't need the keyboard at all. Makes for a very fast setup.

TRIN in 1.40's and TRINQ in 1.20's so they're selling it so far.

[tantal]

Hawk that sounds very familiar. I'm still not very good at this myself, but definately sounds like you need to make small trades, with specific risk/reward, such as I'll take a 3 point profit or a 1 point loss, and trade that plan. Do it small.

I totally empathise with you. If I didn't have a great job I'd be starving on my trading ability.

Good luck.