wrbtrader

I strongly disagree that it's impossible to tell if someone is selling here at Traderslaboratory or not via the fact that anyone (including you) can review my posting history or the posting history of any other member. In addition, MadMarketScientist has access to the private messages of members (assuming he knows how to do such). Therefore, due to the above facts which is the 2nd time I've mentioned such to you specifically in a prior reply and you still think it's not possible...maybe the issue is that you could care less if someone is vending here or not and you're true to your word that you just want "transparency" to better determine the motives of any message post you read here at Traderslaboratory. For the record, I highly recommend to you one more time about the reasons why Traderslaboratory is NOT a suitable place for vending as stated @ http://www.traderslaboratory.com/forums/general-discussion/10633-vendors-vendors-vendors-7.html#post126847 Simply, the non selling vendor decides (not you) when its time to see it as a business opportunity as you mentioned. Further, if and when Traderslaboratory does become a suitable place for advertising...I'm sure many of the non selling vendors that's not on your list along with a few that's on your list may decide to become sponsors which will put money in MMS pockets. Anyways, that's a concern of MMS and not yours to why some non selling vendors don't want to advertise here. Regardless, I'm mainly concern with the issue of you recommending or requesting "transparency" and then when you get it you then make a suggestion non selling vendors should use different user names so that you will no longer know whom they are...that still doesn't make any sense to me. Therefore, I have no issue with the actual pending vendor label, my issue is with your request for transparency and then your suggestion to go into hiding after you receive the transparency. That's why I question your agenda and will continue to do so every time you attempt to rationalize your suggestion. I just wanted to be very clear why I'm posting in this thread involving questioning your agenda based upon your own post history and it's content.

Hi, For clarification, it's not that some vendors want to become non selling members of the community...it's because they are and always has been non selling members of the community. In addition, if a non selling member is already part of the community and then decides to rejoin the community via a different user name, I guarantee someone will notice the writing style of the new user name and type of discussions he/she tends to be involved that allows the community to determine whom he/she really is or use to be. What's next, get another new user name and then change his/her writing style to cloak their identity along with lying when those of the community starts accusing the new user name of being someone else. :doh: Like I said, it's been done before which is why some non selling vendors that use to post quality info here at Traderslaboratory without any baiting tactics have not returned to Traderslaboratory. I suspect (pun intended) that MadMarketScientist doesn't like the obvious declining membership of his forum and that hurts his wallet (MMS is a vendor and you're using his services for free) especially when there's a lost in quality posts. Hopefully he uses the icon properly along with determining how to financially benefit from non sponsor vendors selling here via baiting tactics and benefit from non selling vendors. Regardless, MMS has a problem with the shrinking number of retail traders all over the world. Thus, I recommend MMS to have two distinctive icons considering you're unable (don't want to) to have two distinctive lists...a icon/list for those that sell here as non sponsors and a icon/list for those that do not sell here but are known vendors because someone decided to do an internet research on the user name, writing style or use info that was volunteer by the member for transparency reasons. In my opinion, this would provide better info about the intentions of those you're talking to although it does not have any implication about the quality/usefulness of their message posts. The above quote contradicts a few of your own earlier statements and a few statements of others even though you say with tongue in cheek that you're not trying to place them under suspicion.

Hi, There really isn't any in-depth info out there on tape reading involving making trade decisions from bid / ask / time & sales screens (e.g. DOM, market depth and so on). Yet, you do have easily available tools to learn it on your own such as finding a screen video recorder to record your the live streaming real-time data on your screens with your charts to help you quickly learn about the flow from one price level to another. Also, have you visited Youtube to check the videos on "Tape Reading" even though many have horrible visuals (difficult to see by those not using a good video recorder). They can at least give you an idea of what type of info your should be doing in your own live recordings at the minimum. You can then post your own videos on Youtube for linking to whenever you have questions at any forum about tape reading. My point, you'll get a much better response (replies) when you share your own recorded videos with your questions because tape reading is one of those odd topics that requires videos for communication while learning in my opinion. Simply, your own videos will contain the "real meat on the bones" and someone can then use that info to help you concentrate on specific info within your videos. P.S. I'm not a tape reader. I'm just trying to inform you that you need to start doing video recordings of the tape and charts that's occurring on your own monitors if you want to be serious about tape reading.

He'll probably do something simple and similar like what other trader forums have done (e.g. BigMikeTrading.com and ForexFactory.com).

Discretionary trader with a 100% definable trade method is different than a mechanical trader with a 100% definable trade system. The former does not use codes because the trader depends on an "analysis process" to ensure particular situations are in place whereas the latter does use programmable codes. A discretionary trader may include 100% definable global event or key market event that must be in place to validate any trade signals he/she gets. Simply, if the event doesn't occur...the trade signal is then ignored. Simply, I don't think you can program the "analysis process" of some successful discretionary traders unless you're only making reference to the trade signal itself and not in reference tot he "analysis process" that must occur prior to executing or ignoring a particular trade signal. Yet, I'm not a programmer or quant person. Thus, if you say such is possible via my example above...I would love to see a particular program code example of such because that would also imply you should be able to program a robot to have the same "human reactions" whenever a specific definable situation has occurred. My point, this is the same reasons why two discretionary traders using the exact same 100% definable trade method will have different trade results as shown in countless of threads at any trading forum whenever someone shares a clearly definable trade method. We just react differently when in the exact same 100% definable situation...that's just human nature.

Every discretionary successful trader I know (retail and institutional) that has a clearly defined trading plan has overtraded (taken trades outside the trading plan or taken trades not approved) once in awhile although institutional buddies get into more trouble with those at their firm in comparison to retail traders that only answer to themselves. Anyways, that's all the stuff involving "fear and greed" (trader psychology) that's a concern for any discretionary trader regardless if they have a trading plan or not.

It's very simple...if these are trades that are not valid trade signals from your trading plan, it's overtrading (excessive). Therefore, it's never the number of trades you take. Thus, if you took 300 trades in the opening hour and all were valid trade signals...it's not overtrading (excessive). Just the same, if you only had 3 valid trade signals and you took 4 trades...that's overtrading (excessive). Yet, on the flip side, if you had 3 valid trade signals and you only traded 2 of those 3 valid trade signals, that's undertrading (not trading all trade signals while actively trading). Undertrading can be just as damaging as overtrading. For example, the missed trades could be the ones that would have made you profitable for the day. With that said, there's a trader psychology issue. If you mentally can't handle taking any number of trades (e.g. 3, 5, 15, 50, 100 or whatever) regardless if they are valid trade signals or not...that too is overtrading (excessive). Simply, if you feel burnt out, blood pressure shot through the roof, emotionally ruined after a trading day regardless to the number of trades taken, that too is overtrading (excessive) and you really do need to quickly learn to control that to prevent having a short-lived trading career.

Hi, First, thank you for the prior response about the racism issue...greatly appreciated via knowing a little about your own experience. In addition, I've decided to continue with this thread to add some valuable insights. Therefore, to be helpful to MadMarketScientist, I highly recommend you have two distinctive lists. One list should contain user names of non paying vendors that openly/secretly/privately promote themselves here at TL. The other list should contain names of non paying vendors that do not promote nor advertise here at TL. To make it on the list of non paying vendors that openly/secretly/privately promote here at TL...proof should be provided directly to MadMarketScientist via giving him a link to the content. Also, I'm under the impression that MadMarketScientist can check private messages when a complaint is received. Also, those that continue discussing their services or mentioning they have clients or enjoy helping others...this will help MadMarketScientist to know whom to notify if they want to continue talking in such a way...they must become a paying sponsor. Those that continue talking in such a way without becoming a sponsor...they get banned (no exceptions). As for the other list of vendors that don't advertise or promote themselves here at TL...MadMarketScientist can then have private discussions with those particular TL members to find out why they're not interested in TL in becoming a sponsor or an active TL member. For example, I know for fact that some TL members that are vendors and not on your list...they do not advertise nor promote here at TL for any of the following reasons: * The forum activity not high enough regardless to the reasons why its not high enough for them to make it worthwhile to become sponsors. * The quality of discussion not suitable to them. (e.g. someone selling custom indicators for Ninjatrader prefers being a sponsor at the Ninjatrader forum instead of here at TL. Thus, more bang for the buck when advertising at Ninjatrader forum instead of here at TL). * Wrong type of potential clientele (e.g. someone selling trader psychology services is not interested in a forum where most believe trader psychology is mumbo jumbo). * Too much vendor bashing of others that turned into personal attacks instead of discussing the merits of the services. * Currently are sponsors elsewhere (forum, website, blogs, adsense or whatever) and like the way things are. Thus, there's no need for them to sponsor here at TL or become an active member. * Clientele exclusively via word of mouth and I'm not talking about shills. I'm talking about in person conversations and recommendations and prefers such. * Clientele exclusively via search engines and prefers such. * Only views the TL community for entertainment purposes. Simply, if I was the forum owner (MadMarketScientist), it's easy to deal with those that openly/secretly/privately advertise or promote here at TL especially those that use baiting tactics via words like "I teach", "my clients" and so on. Yet, I'll be more interested in knowing why non paying vendors do not want to become sponsors here at TL, not interested in mentioning their services here at TL or not interested in being active members. Answers that could provide clues for how MadMarketScientist advertises/promotes the TL community from this day forward to attract paying sponsors (vendors) and to attract more quality members. Last of all, it's very easy for non paying vendors to post useful, insightful messages here at TL community via trading topics that has nothing to do with their services.

Hi, Maybe the problem is my understanding of your request for vendors to be transparent. I misunderstood you wanted more transparency about whom they were even though my transparency as stated was given to TL management before you were a member of TL. It's that reason above why I thought it was odd then for you to suggest that I change my user name so that I'm no longer transparent so that I can be part of the community regardless to the fact that I am already part of the TL community and my past posting history here shows such as a fact if you decide one day to review my message post history here at TL or at any other discussion forum. If you don't see it odd for me to have discussions with you via a different user name while I know I'm a vendor, while you don't know it's me (the vendor) and knowing you want transparency...maybe my English comprehension sucks. :doh: By the way, you already know why I don't post here that often...the past racism issue and hate mail towards Muslims even though I'm not Muslim still leaves a very bitter taste for me. Therefore, please don't be rude and ignore that fact via saying the following... Anyways, I think I understand your real agenda (a witch-hunt) much better now after reading one of your recent posts although not directed at me. Therefore, my last post in this thread and I'll go back to being a part of the TL community as my message post history shows I do provide useful content...showing up once in awhile after getting those email alerts from TL management about interesting recent thread topics.

Hi, First, as stated...my identification was given to the prior TL management (not to the members). I was told by another member I had to do such when I first became a member of TL. Yet, after doing such, I discovered there was no such requirement. It's not strange at all. I had the user name wrbtrader here at TL before I decided to use it at my website. Also, the issue is to be transparent with TL management and what they do with that information is their decision (not yours). Simply, I can easily contact TL management and have them change my user name a million times. Yet, they still know I'm a vendor because of that prior voluntarily notification by myself...that's something I can't change. By the way, any links I post at my website is none of your business and require no explanation. Yet, to be frank, you're doing a very good job on your own via giving publicity to all those on your list. Regardless, as I stated, this is not my type of crowd which is why TL isn't a popular hang out for me and I've already stated one particular personal problem in the past about such. Good luck with that "asking for transparency" and then suggesting to members that they should change their user name so that they are no longer transparent while continuing to contribute to the community. Thus, is there an agenda with your list that has nothing to do with being transparent especially in light of your most recent message post (it would seem you have). Anyways, I don't think it's appropriate to use your list as a witch-hunt especially after you ask for transparency and then suggest I change my user name so that you won't know it's a vendor the next time we have a discussion. Thus, your suggestion to me most likely will prevent many others from being transparent especially via the fact there's at least 5 active members here at TL that are vendors and not on your list. They do post useful information and have never advertise nor promoted themselves here.

Hi, Although I've never advertised here nor marketed here mainly due to the fact it's not my crowd...I do like to visit once in awhile to post something useful or helpful. Regardless, I know some on the list had notified prior TL management about being a vendor upon registration or soon after...including myself. Basically I was told it's not a problem as long as there's no advertising. Therefore, not exactly sure how much more transparent one needs to be after voluntarily notifying TL management upon registration or soon after about being a vendor. Therefore, please add me to your list because I just want to continue being transparent. My old user name was NihabaAshi and I asked Soultrader to change it to wrbtrader a long time ago due to consistent hate mail from some members here that thought I was Muslim (I'm not). I'm a rural boy that grew up in the midwest U.S.A. and now raising my family in Canada. Anyways, the words Nihaba Ashi are a Japanese Candlestick term and martial arts term and the hate mail stopped soon after the user name change. Like I said, not my type of crowd but once in awhile someone posts something useful that inspires me to post a reply. By the way, I don't offer mentor services. Just wanted you to know that so that the info on your list is accurate. Hopefully this thread will inspire current TL management to do "identification" like that of BigMikeTrading or ForexFactory considering there's less bashing and accusation occurring over there.

Al Brooks uses an indicator called EMA (exponential moving averages) in his method. Thus, some traders need to sit down and decide if they want to trade without indicators or trade with one indicator. If the latter, it's OK but its not trading without indicators. Anyways, I think some traders get a little lost with Al Brooks because many of them believe using "one indicator" is still price trading without indicators. If someone saids the EMA indicator is not important in making trade decisions...then remove it from the charts. :doh: Regardless, glad you found Dynamic S/R Zones and I too think they are useful.

Generally, it shouldn't matter if Entries are more important or if Exits are more important until someone is having a specific problem with one or the other. Regardless, both are needed and dependent upon each other for success along with other variables. Yet, the reality is that most traders spend most of their time working on their entry strategies in comparison to their exit strategies. Further, usually a trader will spend quality time on exit strategies after allowing profitable trades turn into losing trades, allowing big profits vaporize into a small profit or after seeing too many of their trades results as early exits to then see it continue without them into a big price movement. Therefore, it's possible for exits to be more important to some traders due to current problems in their trading after entry.

There are other threads here at Traderslaboratory about this specific topic and the success rate is greatly different from one trading instrument to another and from one candlestick pattern to another. It's just best you get access to historical data of whatever it is that you're trading and then do your own personal testing (manually if needed) via any particular candlestick pattern you like via your particular trade management of candlestick patterns. My point with the above statement is that its a proven fact that the trade management after entry has a dramatic impact on the success rate of any particular candlestick pattern and such has been proven many times by backtesters that differ from each other via how they manage the trade after a candlestick pattern signal has been given. As for auto trading via candlestick codes...highly not recommended as a price action method.

Most discretionary traders that trade without a trading plan and without a trade journal (diary) for documentation of the trading "usually" do such because they already know (don't want to admit such) they don't have the discipline to stick with it...to follow the rules they've outlined. Also, most problems for discretionary traders (those not using an automated trading system) have none trading related problems that's sabotaging their trading. It's why no matter how much tweaking or adjustments or new things they try in the trade methods or trading plan...they remain consistently losing. Your number one goal is to try to determine if you're currently suitable for trading prior to that next trade. You need to sit down with someone (not yourself) that's very familiar with your personal life that can give you unbias feedback about what baggage in your personal life can have an impact on your trading results. For example, you can discuss debt problems, financial problems, relationship problems, problems dealing with stress, unhealthy lifestyle, unrealistic expectations in new ventures et cetera. Think about this very carefully, these things do sabotage other careers...don't be delusional in thinking a career in trading will not feel the impact of such. Simply, most traders don't have all their ducks lined up prior to trading nor do they have a plan B when things go horribly wrong and such will go horribly wrong for most traders. For example, do you have enough capital and living expenses for a minimum of one year without any new income coming in? You trading as a hobbyist or trying to become a career trader? You trading the right trading instruments that your trade method can exploit? You have the proper trading environment at home? You have proper trading equipment? You have someone in person (not online) to talk to about your trading problems...someone that has an existing knowledge of trading and it's pitfalls? My point with the above...if your ducks aren't line up prior to your next trade. A trading plan and trade journal (diary) will not be enough...not even close.

Everybody uses some sort'uv a stop even those that say they don't use a stop. There are mental stops, hard stops, money stops, time stops, margin stops and many more. Simply, any reason you use to exit a position...that was a stop. Yet, the key is that if you're in a losing trade...don't get married to the trade because it's not uncommon for new trade opportunities to appear while stuck in a losing trade. Traders married to a losing trade will ignore those new trade opportunities and that's not efficient trading.

Hi, I'm a little surprise that you haven't seen such. It seems to me to be common place at most forums. Lots of traders freely share their systematic rules or codes. I'll give you one example of a thread where traders have freely shared the details of the "systematic rules" involving their trade methods @ Trading Systems @ Forex Factory and here's a specific thread where the rules (codes) I shared later in the thread @ Forums - Robotrading: CT + Trending Strategy on folios of futures There's hundreds more and I'm sure you can join any particular discussion forum and do your own research now that you know they exist. Yet, the problem you may have or probably already determine is that some of these systems rules or codes may require you to use the same testing software or accurately transcribe them into your own programming software. You'll obviously be required to "participate" in those threads to learn more information about the system along with asking questions about rule or code you don't understand. That's why I say this is a daunting task you're talking about. The last time someone ask what you asked and I sent him links...he responded that he was looking for "easy systems that were profitable on his trading instrument"...I just thought it was odd that he started adding conditions (e.g. it has to be available for application in his programing software) on to his search as if someone was going to do all the work for him. :rofl: Regardless, if their backtesting results are too short of a time period, you can do your own more extensive result after you learn to details of the methods if what they've shared is not enough info for what you want to do that will allow you to determine how good/bad the system. However, I don't understand why you want to test something when these method have already been extensively tested and discussed et cetera as you'll see at some of those threads by others that are participating in the threads. Simply, you implying testing them on different trading instruments that the method designer doesn't trade ???

Hi, I'm a member of many different forums that are popular, not popular, small and large almost since their birth as in I've joined within a few months after their birth. Most traders that have a more systematic approach (I prefer to use that word than scientific approach) including discretionary traders (those not using a coded system or automation) have done exactly what you've mentioned. Some have been very genereous and freely shared their methods, backtesting results and fewer are currently maintaining online trade journals. Simply, I'm not sure why you say "nobody doing this" because I've seen many, many and many do such in their attempts to find a profitable trade method unless you meant why hasn't anybody posted the results of all these trading systems into one single thread instead of viewing them spread out at many different forums. That's a daunting task for any trader. I just can't imagine someone finding the time & energy to compile such a list. Further, I'm going to make a good guess that I've seen at least 800 systematic trading methods along with variations posted online across many forums. I can easily see someone or a few spending a few years of full-time work making such a list and then maintaining it for accuracy in one thread like some "international one public library of systematic trade methods". I use the word "international" because there are also many trading forums in different languages besides English. Lets put it this way, YOU can start by listing your favorite 10 systematic trade methods in full detail in this thread and please write the direct links to the forum where the method was originally revealed. This will give you an ideal about how much time & energy will be needed to maintain a list of just 10 systems in comparison to the hundreds or maybe thousands that's been posted the past 10 - 20 years online at many different online forums. Regardless what was meant or how I interpreted what you said, most traders that aren't using an automated trading system will often discover that no matter what parameter they change (indicator or price action)...the biggest piece of the puzzle is not the method...instead it's them or the trading plan that involves many other variables working together (e.g. market experience, money management, capitalization, discipline, proper equipment, proper trading environment, costs of trading and so on). My point is that the few profitable traders out there that's using a systematic trade method have discover that their profits involves many variables working together (called a trading plan) instead of just the trade method itself and arguably those other variables are just as important or more important than the trade method itself depending upon the profitable trader.

Thanks Corey guruji is still testing a rare variation of the Morning Doji Star as of January 27th 2011 as shown at his blog link below instead of testing commonly appearing variations of the Morning Doji Star. http://blog.kilotrader.com/2011/01/more-about-morning-doji-star.html#more However, he did say the following here at Traderslaboratory (December 2010) that implies he does know he's testing a rare variation. Yet, he continues testing the rare variation. Also, his interpretation of a Doji is incorrect as shown at the above link via many of the images having Hammer Lines instead of Doji Lines. Thus, it's possible he has included Hammer Lines as a possible variation of the Morning Star Doji. Yet, if that's the case, I strongly disagree because Hammer Lines are not a variation classification of the Morning Doji Star. The other possibility is that he accidentally posted Hammer charts with the Morning Doji Star charts in his blog. Regardless, he did state early upon his arrival here at Traderslaboratory he's new to Japanese Candlestick patterns and hopefully he'll develop a better understanding of the definitions along with revealing more information about the "trade management" after entry. In my opinion, the trade management after entry has an enormous impact on backtesting results, simulator results and real money trading results of Japanese Candlestick patterns. I've seen results vary from 30% to 80% of a specific candlestick variation just by changing trade management rules after entry.

Hi basilakos, In the beginning, most traders have discipline problems and it arguably is one of the top reasons that sabotages a trader's trading plan. Also, as I mentioned in my earlier reply, I've been through what you've briefly described. Also, you've only made 2 message posts. Simply, you're going to need to be "consistent" in discussing your discipline problems here at Traderslaboratory to get a discussion started in such a way that you begin to get some help or find a few tips that could result in finding an "in person" trading buddy. However, very few will take you serious if trading is more like a hobby. Therefore, for those reading this that also have discipline problems that they think prevents them from being consistently profitable, trading for a living or a decent source of income... You're going to need to "consistently discuss" your problems especially as they're occurring in real-time via a chat room or trade journal posted here at Traderslaboratory just like a "personal diary" because it will provide critical feedback at a later date. Thus, is useful until you find help via an "in person" trading buddy that gives that critical peer pressure to break bad trading habits. I've just seen all too often traders that ask for help only make a few message posts and then quietly disappear without making the effort to document their problems to encourage others to step forward with help. Simply, it doesn't matter what the profit level is of those you're chatting with in a chat room or exchanging messages with at a discussion forum...if they're self-absorbed in their own trading or not making any effort to research what's occurring in your own personal trading environment...you're talking to the wrong people. Thus, you're going to need to make a better effort than what you've shown so far here at Traderslaboratory and be consistent in your effort in discussing your problems. In other words, anything less than a well documented trade journal that outlines your discipline problems from one trade to the next trade...trading is just a hobby.

Hi, I'm very curious about what do you mean by "ignoring your stops". You saying you sometimes trade without a stop when you should be trading with a stop or saying you have been removing stops? Also, a trading buddy for discipline reasons is a very bad idea and usually doesn't work unless you resolve the reason why you're not discipline. For example, most discipline problems is related to something that doesn't involve trading. Instead, you should detail your entire personal schedule that occurs prior to trading, during trading and after trading that includes location of trading, details of the trading environment, capitalization, trading instruments, decision making process et cetera. Sort'uv like an in-depth diary of everything you do in the day that's none trading related and related to your trading from the moment you get up out of bed to the moment you go to bed. Have it all written down. Next, to find someone, first only mention your city location, type of trading you do, examples of recent trades and what you offer in exchange. My point is that if you want to fix your discipline problems...it can only be done in person because nobody can enforce you to follow your trading plan via online especially when they have no clues to what's causing your discipline problems. By the way, I've been through what you're going through and eventually I had 3 trading buddies. We rented an office space (big warehouse apartment) and setup shop. I day traded, another guy swing traded and the other did a little of everything. We only took trades from the warehouse office...not from home nor from work. We quickly learned that our trading problems had nothing to do with trading...it was the baggage we brought from our personal life into our trading...stuff that the other trading buddies was able to see...stuff you wouldn't be able to see if we were online trading pals. I did this office trading for several years until I was able to learn more about myself as my personal life clashed with my trading. Took several years to resolve and when I did...my trading made big leaps in profit levels. Traderslaboratory should have an section called "Hook Up" so that traders can find others in or nearby to their city to arrange meetings. This allows for you to meet others going through similar problems, others that have resolved similar problems along with finding trading pals. Yet, when I had that office warehouse space...I met my trading pals through a TradeStation user group meeting (at that time it was called Omega Research). Thus, there's many ways to meet trading pals, you could meet others using the same charting program, same broker, local investment/trading clubs, trade shows in nearby cities et cetera.

So far for 2011 there has been more "expanding volatility or volatility spikes" outside the first hour of trading in comparison to 2009 and 2010. Hopefully it continues although I think it will be years before we get back to volatility levels we saw prior to the 2008 financial crisis explosion unless we get another economic explosion (good or bad).

Hi Arpaf, You need to be very careful with your learning right now because you've stated you're a newbie, paper trading along with not sure about your trading along with the fact you use in this thread the words in my opinion as if you have not determine if such will work for you with real money on the line. My point is that you've mentioned a lot of different topics in this thread such as support/resistance, averaging down, hedging with options, position size management, supply/demand and WRB. That's too much stuff to be learning out of the gate and you're going to easily get lost if you have not already. Therefore, I highly recommend you start a trade journal here at Traderslaboratory that includes your paper trades (trades in your broker simulator), thoughts you had during the trading day along with charts of any key trades you feel had the most impact on your trading day or learning curve. Trade journals are essential for any trader because it gives a wealth of information that broker statements can't give all by itself. Thus, trade journals in combo with broker statements is a very powerful. In fact, if you can't maintain a trade journal...I recommend you don't get involved with trading (seriously).

Hi, It seems like you're talking about support/resistance analysis and position size management involving exiting a trade position. However, I am a strong believer that position size management on entry or exits is a critical aspect of trading. For example, if your trade results show that you tend to be more consistently profitable in rising volatility trading conditions and less profitable in declining volatility trading conditions... It only makes sense to be normal position size during increasing volatility and lower position size during declining volatility trading conditions. Further, considering you're talking about support/resistance...you need to take a closer look at the past trading or backtesting results to determine when it's suitable to scale out versus exiting the entire trade position. There's also the impact via human nature...that fear and greed thing. For example, if you're up big (as in beyond your profit goals) for the day and then you're in another profitable trade...you may just let it ride longer after reaching the profit target in the trade. Whereas on another trading day when you're struggling or barely profitable...when a profit target is reach you exit all the position to lock in the profits. Regardless, when to scale out is a very tricky thing...no magical formula to determine when the scale and when to exit all.