I have hypotheses for why they work, but in trading understanding why something works won't help you profit from it unless you understand how to derive a statistical advantage from it and you have a personality that can thrive in an environment of uncertainty and risk. Why it works is not relevant to making a profit. You'll know when it stops working, because you'll stop making a profit. FT, I will truly miss the astonishing irony of your posts.
To paraphrase Ogden Nash, this thread is making great progress, but but it is headed in the wrong direction.
The mods should cut out the stupid banter between NoDoji and FinTerr, unless this thread was meant to be a troll, then delete it all together. I have recently tried futures and have benefited from the volatility in the market; setting TP's at resistance/support levels and have been ok. One day this place will be a forum for knowledge shared instead of bashing each other.
there's a trader on trade2win who appears to kill the Dax on a daily basis, so I reckon he could do the same on the ES if he chose too. He obviously has an actual EDGE to be able to achieve such consistent results. He's quite secretive about how he does it, but he does post up lots of blotters to prove he can walk the walk. Lots of trades per day (30-40??). I think he sometimes averages into trades, although at the same time, he stressed money management and tight stops which seem a little conflicting. He hints that his trading decisions aren't really based on anything like charts or Depth of market etc. I guess he uses something which none of us have heard of. He also know lots of people in the industry. Maybe he literally just has people who are privvy to much better information than us retail chumps tell him what to do and what teh market will be doing....
Think your all making it too complicated, from the first post you said sat there watching it move against you, when it's doing that it'll move for a while most likely right ? so rather than watching, why don't you jump on it and ride it for a fair few pips if possible. DAX trades better than ES from 8am UK till 9pm aswell so a 13 hour trading window, although in the US Session it pretty much tracks the ES / YM. Successful traderers get bored and need somewhere to blow off steam, so don't think all don't.
BORED so read through the trolling and her is my opinion!! NoDoji is cool, trades logic although not how I trade, makes sense all fine. FT, standard jealous troll, trying very hard to get people to listen interesting, trading wise total newbie he's got the how to trade hand book open and hasn't realised it's all lies and the way to make $$$'s is to not follow said newbie hand book doh!! And after a 100 coin flips coming up heads the odds are still 50/50 on the next 1 being heads LOL ( 50.2% on the heads side landing down then it's reversed if caught due to the increased mass on the heads side in general, sorry I'm a geek LOL ) Give up FT your making a fool of yourself, not that you care it's on the internet, but ofcourse why attack someone else using your same logic. Troll's death to all!
I'm so confused by what you just wrote it's not even funny. Do you even understand what you're saying? 1st - there's a big difference between coin flips and human emotion 2nd - If a sample of coin flips over the LONG run displayed a 65% probability I would trade it. There's something abnormal about the flips then. Roulette can even be beat (ie Thorpe)
Being able to get into a trade with very tight stops is the best way to win at this game. Im talking VERY tight.
There are people who consistently make good money in the ES. But they prefer to stay low profile because there is no added value for them if they show what they can. They only can end up in a less favorable situation (people trying to steal his knowledge, sabotage because of jealousy, hacking of their PC.....). I know 1 trader who lives in Monaco. Nobody knows him (yes i know him ) ,except from his brokers and bankers, he is happy with that and wants to keep it that way. Traders go through several stages when they become succesful: At the start they are novices and post a lot out of enthusiasm. When they become a little more succesful they are more selective in what they post and where they post. They don't want to go in big discussions anymore to proof they are right. When the trader finally becomes very succesful he disappears from internet and trading websites. There are 2 possible reasons why FinancialTerrrrist is posting the way he posts: first possible reason: he is a desperate loser who tries to shock people in the hope that they will give him the knowledge he misses. He calls other people idiots in the hope they will proof they are no idiots by telling him their secrets. If they do they only proof they really are idiots. second possible reason: he is the almighty and the only expert in this area. If he cannot do it nobody can (remember!!! i am nobody, so i can ) . Typical way of thinking for stupid people. Smart people are modest and understand that they do not know everything. Just my 2 cents.