$200-$300 per day

Discussion in 'Trading' started by dpg2020, Jun 18, 2002.

  1. #11     Jun 18, 2002
  2. Tony01

    Tony01

  3. Theres not much out there on trading the eminis. Open a small account and trade one contract for a couple of months. Youll either sink or swim.
     
    #13     Jun 18, 2002
  4. dpg2020,

    I think you are on the right track. Trading the futures is much less a pain than scalping NYSE and you should make a lot more, at least if you come up with some good methods. I am not aware of any books that really will teach you to trade them successfully. I will say that I very much liked the book called West of Wall Street, but it is pretty old. Also, Gary Smith's book on trading(note, this is not the RM Gary Smith). I wouldn't use the system described in Smith's book but he has a lot of good insights.

    What I would suggest is get some backtesting s/w and spend a few weeks learning what works and what doesn't. Pay attention to support and resistance, prior highs and lows, how far to let losers go and how to let your profits run. Get a feel for the drawdowns. Come up with three or four patterns that work and trade ONLY those patterns. Resist the urge to scalp the futures or go with your hunches,etc.
     
    #14     Jun 18, 2002