I have been with TC 2000  for so many years but, I've never had the guts to put it into real trading but, I will vrey soon. Maybe i'm biased but having been with this software for so many years, i'm absolutely consumed by it. The possibilities are endless. Everyday, I create, refine, test. I've made 27, 30, 9 grand in an hour, in two or 3 days etc. in a simulator trading thanks to the worden brokerage firm, absolutely wonderful. This software gives me hope. It's this lingering dream, something wornderful is just about to happen, It's this hope that in a few years, i will absolutely walk away from from Job and never look back because of this software that doesn't breath or talk but the opportunity, the dream and the hope it presents is nirvana. Thank you worden from coming from a pacific islander who goes to work everyday with that smile on his face because he knows that day is just around the corner. Thank you for for the dream. Freedom is in TC2000.  Just my opinion, thanks for reading this.

Sorry, didn't have time to edit it. I wrote so fast just connect the dots. thanks.

I've also lost big time because I get lazy. Believe you me, I know the rules but, it's this small voice comes to my left ear and tell me that's only simulator trading. Maybe i'm so familiar with the software that i just let it go and never close my earnings. But, still consider I'm just a rookie and I may need some help. I need mentor, just don't charge me because I don't have any money, ehehehe.

Flux, 

Thank you for the kind words. I'm glad you are happy with our service. 

Hi Flux,

Should start trading with real money as soon as you can.  Even very small amounts.  It would be better to learn what it feels like to win and lose $10 real dollars than $10,000.00 fake dollars.  It's a very different animal.

It's great that you have spent your time learning and perfecting methods, but give it a shot and see how you do.  Your education may begin all over again.  

Just a few thoughts.

David John Hall

Thank you kindly sir. I've read a lot of your stuff here along with others and they have helped tremendously. I've got a question if you don't mind, what is emotion when it comes to the phsycology of the market. Is it fear of losing or fear of winning. The reason I'm asking is because when i'm losing, I don't feel any emotion, when my stock is going up like a gnat of steroids, fear starts to seep into my thoughts, hehe. It's like this big monster saying, "you beta take your profits island boy and run or else you're gonna be eaten alive!" eeeeek!  Tc2000 save me, ehehehe.

You're welcome, flux!  You are not alone.  Emotion plays heavily into trading. I used to be down right spastic when i was trading.  

You just need to flip what you are feeling on it's head -- which is no easy thing to do and it took me years.

When you are taking a loss, you should be fearful that it will continue forever.  

A lot of traders don't take losses because they're hoping the trade turns around.  They say "Let's wait and see if this comes back and I'll get out at break even..."  But that day may never come.

You should also play "wait and see" with your winners.  Give it room to become a really big winner.  you only need a few a year.  Of course, some of your small winners may slide back to zero.  

Always look at the chart.  If the chart looks positive, stay in.  Wait for the chart to tell you to get out.  

Let's take one of this year's huge winners, PLUG.  Let's say you bought one of the first breakouts:

The very next day you have a good gain, like this:

Up 10%.  Nice!  But now you're getting nervous.  You want to lock in those gains.  You can do a few things here and the choice is yours.  

If you're happy with 10% -- grab it.  Why not.  But if this is your average gain you have to be much faster to take your losses.  They should be around -3% on average.

Also, you have to be content with taking your 10% and then watching this run higher without you -- if that's what it does.

You could move your stop up under today's low as well.  That would put you at break even if you want to give it room to grow. 

The next day you get this:

Ouch -- down -3% and you are really getting nervous.  What if this is the start of a slide?  What if it takes away all of your gains?

But you have to calm yourself down -- and look at where you are.

You broke out on volume -- this down move is on lower volume.  And your stop has not been hit.

So you hold, and you "wait and see" in accordance with your plan.  I give these 10-15% room to move based on volatility.  But that comes with the very real possibility of them sliding back to break even.

But I know what I'm looking for -- I'm looking for the big move.

And the next day we are rewarded for trading it right --

Wow -- a 60% move.  On even greater volume.  Here I would probably take some shares off.  But I'd leave some on and play "wait and see" with this profit.

Notice how this is the opposite of how most play "wait and see" with losses?

Flip this chart around, pretend you are losing.  How far would you let it go?  Let's say we are perfect traders and we leave it open.  

An even bigger gain!  We are killing it.  But look at the volume.  It's rising still..

Do you want to wait and see again?  Nervous now?  really nervous?  Take off some more of your position.  Let's keep the rest open.  See what happens.

Up another 13% -- but this candle would make me think.  The volume is dropping and we could be topping out.  I'm looking for a 5 day move so I put my stop under today's low and see what happens.

And the next day we are taken out -- but not after gaining over 100% on our trade.

And plug wasn't even done there.  It went on to gain over 1,000 over the next few months.

Anyway, this was just an example of the ways I use the charts to manage my emotions.  

It's not fool proof.  I still have to work to manage my emotions. But it helps that i know what I'm looking for, I have a plan that I execute, and I know all of the stats for my system so I know what to expect.

Anyway, good luck to you, sir!

David John Hall.

Absolutely amazing. Is there anyway you can be my mentor if you don't mind? Which of course leads to an idea I want to share. There are certain individuals here at the Worden discussion forum that one can somehow feel this special connection with who can act as perfect mentors, who can actually take you by the hand and go thru the act of buying, monitoring, hold, and selling. You tell them what you are going to do, they look at your TC 2000 charts and they tell you what to do in real time. If Worden can create a setting within the tc2000 program for this, it would be absolutely mind boggling. And you sir willbe my first mentor :) Absolutely amazing what you have shared with me. Thank you so very much. If you don't mind, can I... can i ask you another question? What does it mean when a proffessional market player say: "let the market come to you.?"

This statement disturbs me. Why? because the market in  real time really does not come to you rather, it just does its own thing in the moment. It is you that actually will have to make that critical decision as to what you are going to do based on what you want TC 2000 to do for you at the moment. Can you help me on this one if you have the time. Is it the market or is it the software? If you ask me I would say it is not the market but, the software. Why? because the market does not make me money rather, it's the software that I have become ONE WITH that actually generates cashflow for me or the other. Am I wrong on this assumption?

 

It means you creating definitions and sticking with them.

Lets say I want to buy pullbacks.

I find a stock I like and it goes up.

Next day it goes up again.

Angry that I "missed it" I buy it the next day even higher.

Instead of following my rules, I didnt wait for the market to "come to me" I chased it.

It shows that I have no disicpline and cant follow my rules.

You need to be willing to "miss" the trade and move on to another one.

Thanks 

You answered your own question.

Its not the "market" or the "software" its you.

If the market/software took care of things why, would you even need a mentor?

Thanks

FLUX, I'm a bit confused.  I see your profile shows you've been with Worden for at least 9 years?  And you have yet to make a trade with real skin on the line,  but at same time get all wound up with emotion and angst while only paper trading, every day for years in your own words?

nothin like buying 1500 shares of DPW at $0.60 and completely forgetting about it until it hits $2.86.  Then selling about 25 cents from the high.  I had to take a few days off of work on that one :)

Flux

 davidjohnhall   did  agreat example on plug,  remember a few things on break out (BO), if the SP500 is in a up trend, it will take about 70-75% of the other stocks with it, if it is in a down trend it will take about 90% with it.  Also with BOs it will retest the BO  level 70% of the time.

If you want to be successful in trading, also have trading rules, and map out the trade with a entry , target and stop before you even enter the trade. (it will take out all the emotions) and each time you follow your rules it won't be a random result,  and also keep a trading journal and record your trades so you can go back and look at the trades, to see if your rules need to be refined

Cheers

Purplehayes

hehehe, ( ...nervously.) My precious bro, you put me on the spot. What can I say... maybe I have fall in love with the worden brothers and I want to make them rich :)

look, I am scared of the market, plain and simple. It's like a GREAT WHITE  lurking in the corner. I make good money on TC2000 ( simulator mode) because I am so familiar with it. I know the software like the palm of my hands ( 9 years ) but, I shiver when it comes to the real thing. In TC 2000 mode simulator I'm like a kid on the candy store but when it comes for real money I start having hives, asthma, and all kinds of things, so kick my butt if you please bro.

But, its this HOPE, this DREAM that soon and very soon. That's why I have been with the wordens for such a long time. In the good book, it talks about HOPE pertaining to your faith whether you are a Christian, moslim, buddhist etc.( my own theory ) Hope in the faith that you have but, I have never understood it. Why? because FAITH to me is something tangible, I can't interact with it. What gave me a glimpse of what HOPE is TC2000. How? because as I play with it thru out these years, It progressively shows me how to discover things that I only know because it is so versatile and flexible. And so all these years of discovering and perfecting, I finally realize that HOPE is getting better at what you do because it gives you a dream that someday you willbe free. Having said that, we come back full circle to what I said earlier, I have FEAR when it comes to implementation of the real thing.

I'm gonna close for now. If time allows, I'll make a respond to DAVID HALL, the comforter, and DICE, the ice-man. You two play a role in my life as far as trading. One says, " look flux, here's what we need to do, while the other one says, git..er.. done flux or I'm gonna kick your b..." haha!

That was adressed to Fbetry If I may. Thanks.

"Faith" as I referred to in my previous post should be "Intangible." not "tangible" sorry.

FLUX, I feel you are at the precipice of taking the plunge into trading with real money.  Nine years of simulation is probably enough.  All these years of TC simulation has grown you a fine set of wings to lift you into the rarified air of above average trading performance.    As for your fear of trading with skin on line, think of how much you have spent on TC subscriptions all these years.   I have a gut feeling that you will be interviewed in  a few years by Jack Schwager.  Be strong, face your fears, breathe deeply and slowly and exhale slower than you inhale before you click the buy button and you should be fine.  Keep us posted on your trading journey:)

Hi Flux,

Dear Sir; From a Trader who lost about 70K in 2 years. (losing about 100 to 150 per day with commissions of about 300 per day)  Basically the broker was making the money. So I ran the numbers with a greatly lower commssion rate and would have been even or slight profitable using my trading history. So I setup account with lower commission broker.  Still lost money everyday for another 30K.  I would lose money almost everyday in small amounts while trading only 200 shares per trade.  I had also ran simulation usings small share trades with unbelievable result.  NOT Appilcable to real world trading and it you are showing the result you say then you must be using larges shares that are also probably not actually pracitcal with you real world account size.  Also if you testing with very low volume stocks with large volume in your testing you most likely would not be able to fill in real time trading.  You should remain scared of the market it is a shark tank.

Now, Open a small account at broker (if you are day trading intraday it will need to be very very low commission to be profitabe) My current trading real account if i were trading with a 6 dollar commission my profts would be $ 200 per day less.  So low commission is 1st Key if day trading is your plan. If you are swing trading with much less trade numbers then this is not such a factor.

Next, dont trade the account, Have broker Setup Paper Trading Account.  Then trade the account as you plan to trade (use pracitical trade share size that fit your financial ability). When you can make money weekly and monthy in that account consider real money.

I went to Paper Account (Intraday Trading- no overnight holdings ever) with my 1st goal to trade profitable 5 days in a row - that took 4 months to achieve.  Now I trade daily for profits, I use 200 share trades with Interactive Brokers (1.00 per trade) I trade stocks with 1M average volume, ATR over .60, Price Range 25 to 90. And know the way most of these stocks move.  I never trade huge moves up or down, never trade the news or chatter.  I just trade the stocks as they cycle in there normal range. Find a chart that moved up 1.75 today on a 15m chart over a couple of hours and I probably took .60 to 1.20 out of the middle of that uptrend in the cycle.  Paper Trading is much better way to learn. 

Good luck to you and keep the dream alive (just not a pipe dream)

MoreAces

@ fpetry,

May the God of Abraham, Isaac, Jacob bless you brada. This is amazing because we don't know each other but, it's the power of words which the good good book have been emphasizing thru the millennium that actually connects us

@ DaJoHall, I am so CONNECTED with you bra. Thank you so much

@ MoAX,  thanks brada. May the peace of God with you. Again thanks so much.