dude maybe alsi trading is not for you. Ive successfully LOST money trading the ALSI this year and in previous years on GT247. However Ive consistently MADE money (more than I lost on the alsi luckily) trading gold and comod shares. I understand what drives gold markets and to a lesser degree then base metal markets. My trades are weeks / months in length and I spend weeks / months in cash. If I tally up my wins vs my losers for the 2011 tax year Im up 35% YTD. Im sure many people would stick their nose up at that return but it a return and one thats outperformed all the mutual funds out there. My point is either you need to understand what you are trying to trade better or find a market you do understand. I got wiped out the first time I started this so I feel your pain. And although I now have a new "you will NOT trade the alsi" rule stuck to my screen I do enjoy your daily alsi posts. Best of luck -P
Yeah,buddy....I had that kinda feeling in 2007.Just couldn't figure out what I was doing wrong and then ....I looked in the mirror.There was the culprit looking back at me.EMOTIONAL TRADER.And the mantra is >>> Feel nothing. Be a machine.PLAN the trade completely, FIRST.Enjoy all the emotions you want at this stage.Because when you put your money down...all that stuff has left you.Or else ....### So, go look in the mirror,Dude.I came back from a near-wipeout.Go back to a slower swing-trading vibe.Those Futures are like Crack addiction.That's why I stay away from the day-trading thing.It churns the guts too much.Anyway...all the best,mate.Hope you can hang in there.
I'm sorry for you, but in the same breath can't say I'm surprised for all the reasons I mentioned before. Good luck in finding a job. Stay away from the markets. The upside is that you haven't been so long away from the job market that you're completely out of it. I've made a decision not to try and get rich quickly through trading. Less is definitely more for me. Rather wait patiently for the high probability trades and execute them with a strategy and discipline while still concentrating on the real bread and butter money - wait for it.........salary. It takes a whole lot of stress off which makes trading a lot easier. Good luck.
Can I come with 2 suggestions here HG. firstly, you need better tools. 15 minutes chart is too slow to react to alsi moves. Its like taking a hammer and chisel to repair your wall clock. it may work sometimes, but mostly not. Have at least 3 MAs, I use 4,7 and 11 periods. Macd and stoki are also essential indicators. Secondly, you should try to move away from candlesticks if it does not work for you. It didnt for me either in 5 years I did use it; creates too much confusion in following a trend visually. It was good for rice trading in 16 century, so try now plain line instead. See me next time you pass through Westville, we can talk 0312660598.
Simon with the current correction we having over the last days do u think the 15 min timeframe would work?It feels to me that as soon as u get a signal the trend is about to change again.Also the 50 trailing stop might cut u out unless your timing is perfect. Have u traded on your system during this correction?
well I would ask what correction ?? ALSI been in a 200 point range recently .. thing is no system works 100% in all market types .. we have to stop the fear of scarcity and move to comfort of plenty .. we will miss some trades .. we will have losing streaks .. that's all part of trading