wink fails at daytrading, page-11

3 weeks with a loss at the end a fail it does not make. (in yoda voice).

Seriously Wink, your market analysis is as good as anyone elses so there should be no reason why successful trading should elude you. I have always found the entry signals the easy part, it's the exit and risk management part that is hard to do.

Just because you have a net loss at the end of your experiment period, it doesn't mean your trading is a failure. If you have a good portion of what you started with and made a bunch of mistakes I would suggest your risk management is working at least ok. The trick for me is to focus on not losing money or at least keep it to an absolute minimum. That way the odd winner keeps you in front of the game.

As an example, one day this week (I think it was Wednesday) my analysis said I needed to be short into close. I tried two shorts before lunch and because I'm aggressive with my stops I got stopped out for break even on the first two attempts. The third attempt I got the move and scored 20 points for the day. While that doesn't seem like much, If I do that on a regular basis I can feed myself no problems at all. I was wrong 66% of the time and still made money. Reading your analysis suggests you are probably wrong less often than that.

I'm not trying to preach to you, but hopefully trying to help you identify what you might be doing wrong, if in fact you are doing something wrong. Sometimes the best trading plans in the world take a hit just because the market had a weird couple of weeks.

Anyway, take the weekend off and go ride ya pushie in the bush. You've earnt it mate. You have given it a bash, worked ya back side off and learnt some lessons. That's living...

After you have spent the weekend riding maybe take a week or two off from looking at the markets and then have a look at your trades over the last three weeks with fresh eyes to see if you can figure out what needs tweaking. You might find nothing at all needs tweaking but fresh eyes will see problems easier.

That little heart next to your name says you are doing something right and you know this is the place to ask for assistance with tweaking if you need it.

Big respect buddy...