Glenn said:
One of these quotes of yours from within the past 2 months?
Ban yourself if you don't like them.
"The purpose is to try and enforce (into my thick head) how important it is to know what the trend direction is"
"For some unknown reason - I seem to take trades in the opposite direction to the current trend -why, I never can really explain - but I always get caught when I do!"
"Lost about 60 points on the YM today - will post details tomorrow as I may wipe all posts and start from scratch."
"We tend to forget at times - me especially - that you must first have the basics right before you can move on."
"So, back to basics, and the first lesson, which I had to re-learn toady, is:
ALWAYS TRADE WITH THE TREND - NOT AGAINST IT"
"I will leave the posts, even though some are pure crap."
"This thread will be for discussing trading the Mini Dow YM Futures only." -
"So, how do you go about deciding to enter / exit a trade in the YM?"
"PS: Apologies to Grey1 for using him as an example - but he is the only trader that I have seen to date who can do what he does.
"I hate this type of trading -really -no wonder so many here are so frustrated"
Glenn
Yes, and thank you for that, it is nice to look back on the silly things that we do.
My YM trading was clearly explained to all -it was something I took on, and if my memory serves me correct, I called it a challenge, with all the odds against me, which I stated many times, with 1 screen, a web based order entry with IB (which is crap, btw), and limited access to charts, and that means that I was using the Dow chart to trade the YM Futures, which is ok together, but not good at all, on its own.
However, my challenge was cut short after $500, for I may be a Paddy, but I am not a stupid Paddy, and I know when not to back a losing horse, especially when the odds are stacked against you.
Also, I learned a lot from that exercise, and discovered some little gems that have allowed me to trade the DOW stocks very well.
Go over and look at the Buy & Sell thread that I started - I thing the stock was AXP, but I am not sure, for I only care about the charts, not the symbols or their names.
In relation to Grey1, my opinion on that has slightly changed, and this change was the result of a personal experience.
Now, I will not comment any further on Grey1, for I have not looked at his trades in yonks, but I will shortly, for I am not that keen on allowing maths to control the risk at all times, I much prefer to use the eyes and the brain in unison, for there are many things in a chart that a computer will never see.
As for banning myself, I have done that already.
Thank You - that was a good post.
