i am a swing trader. i couldn't make my mind up what to short - in terms of individual stocks, so that's why I shorted NQ - to take advantage of any decline before i could find a good stock to short.
So, ah...Anthony. How are you doing on your first trade? And what in the world are you doing shorting the market in January? If, as you say, you shorted NQ because you couldn't find other stocks to trade, I have to honestly say that you are not starting out your full time trading career on a very solid foundation. Seriously, from this one post alone I would advise that you not yet leave your salaried position.
Well, Anthony, this is a fine mess you've gotten yourself into. Was your NQ short a daytrade or postition trade? What is your methodology?
Anthony, Hello, since you're short the NQ & called the top, which has now went against you by 20 pts. How much trading experience do you have with futures? May you have been prudent in allocating only a small % of your total capital into a trading acct., say 10-20%, preferably 5-10% would be the wisest. I'm going to make an assumption that 1: The bulk of your $$ were made during the Bull Market, by buying & holding. 2: That your swing trades consisted of holds lasting weeks to months. 3: Since your successful experience over time with equities, you now are qualified to trade leveraged instruments? Don't get me wrong, I would hope that your endeavor brings you nothing but success. However it'll come with a price, either thru a shortened learning curve, & limited capital losses thru preparation, & strict discipline.The other path would be a lengthier learning curve with significant loss of capital, which could bring about a psycholgically damaging effect, & possible elimination from trading altogether. You will ultimately make the choices or lack of, which will determine this outcome? Successful fulltime equity traders are a vast minority lot, successful fulltime futures, & option traders are an even smaller % of that lot. You have just entered into that arena, be VERY aware & prepared, I can assure that the competition will be! It's a ZERO sum arena that leaves little room for error. This may @ first glance seem like a scare or fear tactic, IT IS NOT! It is about AWARENESS, FUTURES trading will open your eyes like never before. Again being alert, & aware will have it's reward! While there is an element of fear in that which you don't know, it can be used like other tools to ones advantage when recognized, & controlled while on the journey. This is your first step on that JOURNEY, may it be 1 of 1000s, & not of dozens. Be Disciplined, Take Care, & God Bless! L8R Kelly
See Anthony you get people who dont understand what swingtrading is all about. They are such little micro scalpers around here that they think that one day changes the reason for your trade. I'm sure of course now that your up on the NQ short by 10 points you wont get anybody coming to the thread to say hey good job and rescind comments like this one quoted above. They will just wait in hiding to bother you if it goes against you again, very typical member behavior.