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ewill

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  1. Abiel and Andrew - I would like to suggest a success webinar on the topic of "Adding to your position" - All the nuances, when to do it, how much to add, whether to take profit before adding or add before taking profit, etc. Many Thanks, Emily
  2. JD - Any idea how long the Clearwater Meet might last? I am trying to decide whether to get a room for the night or drive back to my Mom's place in Orlando. Thanks! Emily
  3. How can I speed up my thinking? I can often see that something is about to happen, but can not quite react fast enough. Sometimes it is about not trusting my educated intuition and waiting for too much confirmation thereby taking an unforced loss, but sometimes it is just not being able to see/think/press fast enough and I wonder if there is a way to learn to take faster actions. Thank you!!!
  4. I'd like to attend depending on dates. Have to go to a conference Oct 10-14. Emily
  5. What a wonderful gift to BBT Traders! Thanks so much for all the thought and work behind this. Emily
  6. I was hoping for Feb 16 or 23 so I could come up from Raleigh, NC. I will watch to see how the plan develops as I would really like to be there. Emily
  7. 10 Best Reasons to Quit While Ahead The discussions is whether it is best to stop trading, even very early in the day, if you have made “your money” (whatever that is for you). For me, a relative newbie (just went live 2 weeks ago after 8 months in Sim) the answer is YES - better to stop. Here are my reasons why: Part of Risk Management - right there with setting stops (hard or mental) and putting controls on your account. Don’t let “trading” become an “addiction.” Keep it in moderation in your overall lifestyle. 8. The mathematical laws of probability - even though every trade is independent, odds favor a neutral outcome over a lot of events. Even if the mathematical odds mentioned in 8 are not activated, the psychological knowledge of this likelihood may play on you in the background of your mind. Time of Day - If you have made some money, some time has passed, and the longer you stay in, the more conditions change. So, whatever type of trade you like best will wane as time goes on and you will need to be thinking about a different strategy, which can be challenging and add to likelihood of diminishing returns. 5. If you do stay…. - It is very natural to want to have another good trade, and there is nothing wrong with staying, but if you do, make a change to your rules. For example, only take the very best setups, or for experimenting switch to simulator, or do NOT let yourself give back more than X percent of your gains (I suggest 10%). Then you can still walk away proud and yet have tried to improve on the already good situation. Helps you stay with A+ trades - If you adopt the suggestions in #5, then you only allow yourself to take A+ trades if you do stay because Who wants to give back money? This general concept of cautious selection of trades will spread naturally into the times before you “make your money” - not just after you do it. 3. Minimize self-loathing - If you have not felt this after giving back what you worked so hard to earn, then you are not yet trading - even in Sim. It is universal. But, it does not have to continue to happen. This mistake does not have to be repeated. Try waling away a couple of times with some good early profits and notice how good it feels for the rest of the day. More time to learn - If you love trading, you probably also love reading about trading, watching videos about trading, thinking about trading strategies, etc. So, just because you have stopped trading for the day, does not mean you can not be engaged in other exciting trading activities. Have time and better energy for your journal and other trader improvement activities. AND, the number 1 reason to stop trading after making money is: RESPECT and PROTECT your account and live to trade many more days. Now, if I can only listen to myself….. Regards, Emily
  8. Hi - I'm Emily - a long term self-employed forensic expert. In January I turned 70 and thought to myself, What do I want to do for myself? Out of somewhere deep in my brain came the answer...I want to learn about Day Trading (where that came from I do not know). So I went on Amazon and first up was Andrew's book. How lucky can one person get? I had to switch my lifestyle from "night owl" to "early riser" which was actually easy. And I had to put aside my MAC and get a PC for trading, which was and still is painful. Now I'm in DAS Simulator, reading "samples" of books and picking the ones that seem right, following in Chat and Classes and struggling to understand like all beginners. I intend to succeed at this and plan to stay in Sim until I can show some consistent success, and then start with small trades with real money. It's great to meet you all. Thanks to Lee W for starting this thread.
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