Friday, August 12, 2005
8/12/05
Sorry it's been a while but I've been out to town and only trading options (that's how I make my money while I'm learning to daytrade). But I've been having problems with my daytrading. It seems that I've not been inproving as much as I think I should be so I was writing to Rock Star and expressing my issues as I see them. Below is what I've written. It seems I've become victim to some of the typical newbie trader detours. I have determined to not be seduced by the DARK SIDE!!! I will fight the DARK SIDE!!!! I will go back to the begining and see if I can get some of the simple trading methods down before I can move on to something else. I am only going to practice and trade with $ the Tick trade and the 9/30 trade from NQooo's site. That's all for tonight.
Trader X
I was thinking about something elsetonight that I have to tell you. One of the reasonsI'm going to take a second (third) look at simpletrades like the Tick trade is going back to theconcept that we've both been cautioned on... notskipping around too much. I've probably been skippingmore than you. I'm going to stick with one setupuntil I get it right... right now that setup is theTick and the 9/30 type. One for trending days (9/30)and one for sideways days (tick). I have moreexperience with the Tick and I know when to use it(like today or this week) I have some experience withthe 9/30 type setup and I know when to use it. I needto remain focused on the simple things. I remember MC telling us that he needed a trade tolive off of... that trade was the Tick trade. Hedeveloped that to generate income! Did you hear whatI said!!!! He developed that trade to live off of! Do you understand the words that are coming out of mymouth!!!!! (from "Rush Hour") I really think that Ineed to continue to focus on 1 or 2 things until Imake them consistantly profitable. That is going tobe my shortest distance to making money. While I'mactually trading that I can Sim CCI and other things. I think that if I deviate too far from what I know andunderstand that I will just get lost again (which I'vebeen for the last few months). I got frustrated toofast with the tick trade and 9/30 but I know I wasvery close to really understanding those trades. Ineed to go back to the begining and get those rightbefore I move on. That's my plan for the rest of thismonth.Sorry to be so long but this was more for me that you.
Trader X
I was thinking about something elsetonight that I have to tell you. One of the reasonsI'm going to take a second (third) look at simpletrades like the Tick trade is going back to theconcept that we've both been cautioned on... notskipping around too much. I've probably been skippingmore than you. I'm going to stick with one setupuntil I get it right... right now that setup is theTick and the 9/30 type. One for trending days (9/30)and one for sideways days (tick). I have moreexperience with the Tick and I know when to use it(like today or this week) I have some experience withthe 9/30 type setup and I know when to use it. I needto remain focused on the simple things. I remember MC telling us that he needed a trade tolive off of... that trade was the Tick trade. Hedeveloped that to generate income! Did you hear whatI said!!!! He developed that trade to live off of! Do you understand the words that are coming out of mymouth!!!!! (from "Rush Hour") I really think that Ineed to continue to focus on 1 or 2 things until Imake them consistantly profitable. That is going tobe my shortest distance to making money. While I'mactually trading that I can Sim CCI and other things. I think that if I deviate too far from what I know andunderstand that I will just get lost again (which I'vebeen for the last few months). I got frustrated toofast with the tick trade and 9/30 but I know I wasvery close to really understanding those trades. Ineed to go back to the begining and get those rightbefore I move on. That's my plan for the rest of thismonth.Sorry to be so long but this was more for me that you.
