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tortoise
Registered: Nov 2005
Posts: 2580 |
02-25-06 05:41 PM
Quote from volente_00:
Tortoise, before I respond to you other post, did you miss this post or just do not care to give us any general insight of your background ?
Sorry, I didn't see it. Yes, I consider myself a "noob" es trader. I have been trading the es consistently for about six months. As I mentioned in the opening post, I have experimented with stops of all kinds, so it's difficult for me to categorize "which" stop I've used. There's nothing exceptional about my trading style -- support & resistance, time & sales.
My experience with the es, such as it is, leaves me scratching my head a bit over the naysaying. But, I'll be the first to admit, six months is nothing, and I remain, daily, watchful for the moment when Father Statistics decides to bite me on the ass.
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Bitstream
Registered: Aug 2005
Posts: 5354 |
02-25-06 05:43 PM
Quote from tortoise:
[QUOTE]Quote from Bitstream:
ok,u perceive 'bitterness' because u don't like to here how things really are.
Once again, on what evidence do you base this observation?
re-read my post...already stated that I've seen countless new traders here and elsewhere blow out over and over and come across no one of them able to master futs. On top of that I speak of my past personal experience and that of my closets trading fellas: we found almost impossible to be consistent without a superior auto-trading program. now sometimes I do trade them with not too bad results, but again, as I stated before r/r on futs is so shitty I wouldn't use them as my vehicle of choice anyways.
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tortoise
Registered: Nov 2005
Posts: 2580 |
02-25-06 06:15 PM
Quote from Bitstream:
re-read my post...already stated that I've seen countless new traders here and elsewhere blow out over and over and come across no one of them able to master futs. On top of that I speak of my past personal experience and that of my closets trading fellas: we found almost impossible to be consistent without a superior auto-trading program. now sometimes I do trade them with not too bad results, but again, as I stated before r/r on futs is so shitty I wouldn't use them as my vehicle of choice anyways.
Bitstream, thanks. This is an excellent post, of the level I've come to expect from you (and I mean that to be respectful and appreciative, not patronizing). I love to hear the facts, and the reasons behind people's opinions: It's the only way I know how to learn. You've offered both. Thanks again.
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whitster
Registered: Feb 2006
Posts: 1886 |
02-25-06 06:36 PM
"already stated that I've seen countless new traders here and elsewhere blow out over and over and come across no one of them able to master futs. "
look, most small businesses fail.
trading is no different. futures (unlike stocks) are a zero sum game. they are contracts. for every loser, there is a winner.
i certainly don't think i have "mastered" futures lol. however, i do use them to make a consistent income and have done this successfully with intraday scalps. so, i know it can be done. i do it. i don't think my analytical skills are what does it. imo, the reason why most people lose (and remember, the same # of trades are winners as are losers in futures) has to do with emotions, failure to follow rules, etc.
ALL u have to do to win in futures is 1) have a methodology that gives an edge that is greater than slippage/commission 2) strictly stick to that methodology 3) use proper position sizing/money managment such that risk of ruin is minimized and the system is allowed sufficient headroom to work out.
i am most definitely not automated, but i have strict rule based trading.
the markets (futures) work such that they tend to cause the most amount of pain to most # of traders. that is not because they are externally designed that way, that is because that is the natural result of interaction of trader transactions.
john carter said it best "markets don't move because they want to. they move because they have to"
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volente_00
Registered: Nov 2002
Posts: 13756 |
02-25-06 07:28 PM
Quote from Bitstream:
u are wrong, stocks influenced by news (that's were the serious money can be made) behave completely differently from futs; support and resistance most of the time are ominously absent from the scene...talking about two different universes here.
and futs are not influenced by news ?
How much did ES move on the last fed meeting on the announcment ?
Does ES not move down when a S&P company announce that they missed earnings ?
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Bitstream
Registered: Aug 2005
Posts: 5354 |
02-25-06 07:32 PM
Quote from volente_00:
and futs are not influenced by news ?
How much did ES move on the last fed meeting on the announcment ?
Does ES not move down when a S&P company announce that they missed earnings ?
not every single day they move and very rarely trend, also those moves can be much more erratic than on listed issues and cause enormous losses if the release is interpreted the wrong way (last fomc announcement).
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