i suggest that successful trading requires a certain level of two things: cognitive intelligence (IQ) and emotional intelligence (EQ).
We use our cognition to 'plan the trade' and our emotion to 'trade the plan'.
the greater these two skillsets are, and the more in balance they are with each other, the greater the chance of trading success and ultimately trading mastery.
NQ rallied up this am...i fine tuned my target of 1625, such that when the QQQQ approached the whole number of 40.00, i would exit the NQ...filled at 1623.50
this discretionary swing trade grossed 31.50 points/contract...
combined with the two discretionary NQ swing trades taken on friday 7/24/2009 (http://stbsmb.blogspot.com/2009/07/7242009-noon-update.html), i have grossed 59.5 NQ points/contract over the past week...not bad! the chart above shows 2.5 of the 3 trades from the past week...for some reason the entry for the first trade is not being shown...
i am not sure if i will re-enter the NQ swing trade...if i do, i have not determined where my entry, target exit, and money management stop would be...
in my discretionary day trading account at vcm, i am trading HLX and YHOO to the long side...flat on YHOO, down a bit on HLX...
just closed YHOO for a tiny gain...closed HLX for a 1 R loss...
'Securities Trading from Both Sides of My Brain' explores a dual aspect of securities trading: planing the trade & trading the plan, alongside a dual aspect of the mind: cognition & emotion.
I have been actively trading the US Capital Markets since 1996. I earned my living from 1999-2010 by profitably trading for my own account. I have recently returned to my IT roots, but still continue to trade my IRA. I love talking about markets, so feel free to leave a comment.
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