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Hey Guys this is HPT,
Most of my blowups and screwups have been from doing what mcichocki said, gambling. Gambling as in, adding to losers, and overleveraging myself on bad trades. As long as you have good risk management (dont add to losers, use planned out stops, and trade the right size for your account), then you should avoid the screwups that you frequently see I have.
HPT |
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Hey, we got a celebrity here !
HPT, you should check out Jperl's thread:
http://www.traderslaboratory.com/for...mary-3326.html
And consider using the Standard Deviation Bands with the
VWAP.
You can get NinjaTrader which is free to hook up with your IB feed.
And there is the code for the
VWAP SD bands somewhere on the Ninja forum.(PM me if you can't find it)
Fading at the 3rd
SD band confirmed by other internals is a High-Probability Trade.