Anyone shorted at 1:50 what happened? I thought we were in for a major rally and bought 300 Q's around 11:20 only to scale out in the next hour as nothing was happening . I thought this shitmarket was still eventually going higher despite looking ready to fall. I guess too many people got trapped on the noon breakout.
...I made 4.5 points on the ES today....it was my first day of trading futures...ever. I've been training with my manager and mentor for over two months and I finally broke my cherry today and made some of the best trades I've done in a while. No matter what anyone tells you, paper/practice trading has no bearing or relevance when you have real dollars on the line, but I'm glad I broke through that barrier and feel a little confident (am trying to employ Mark Douglas emotional balance her but...I'm feeling good about my training and today) Jester
I've been saying that for years. I think most people who proclaim otherwise are pure mechanical traders, or haven't traded for real. Paper trading does help you get a system down before starting though. This saves lots of losses compared to just winging it with real cash. Good job on the 4.5 points! Get that every day and you'll be rich indeed (adding as you grow of course). Jay
I kept my short AOL position, but I have not put on any new trades since Friday. I am not finding any good risk/reward setups at the moment.
Congrats.. after we 'talked' decided to pop for a quick scalp on ES... took a small profit... 1 lot-- but don't see this being much different from trading equities or indexes.. although there are nuances. Frankly I'm expecting a good maiden year in futures. Hope you and others do the same. In fact I thought today was an excellent set-up for day trading ES/NQ. As a novice in futures, can someone tell me how there were not decent trending moves to hammer today?! I'm a little disappointed did not get on board the early run up. Regards