Buzz's Live Calls

Discussion in 'Journals' started by buzz, Oct 4, 2006.

  1. buzz

    buzz

    I cant be bothered updating this journal, all I say is, come in to the chat room. Not a bad day today we made some good points on the YM, the regulars will back this up...I was only going to trade for a week, but this is my second week. Made some friends in the room. not a bad place for futures traders...
     
    #51     Oct 17, 2006
  2. Schaefer

    Schaefer

    I second that, I had a fun time watching Buzz, and some regulars making live calls earlier this afternoon. All of them were mature,
    and civil.

    Thanks guys.
     
    #52     Oct 17, 2006
  3. Hey Buzz,
    You make good calls and obviously know what you are doing - I hope you keep doing the room - I know I will hang out sometimes if ya do....I had 3 nice hits for the day on my own, the last 2 trades I called in the room but after a 20 tick YM long I got whacked on that last long call on the ER late in the day...ugh - can't win 'em all...
    Anyway its nice to see what you and others are thinking. Respect and keep it going -
    W
     
    #53     Oct 18, 2006
  4. buzz

    buzz

    Thank you for you kind words...

    I give some advice to two traders in the chat room after hours. about over trading such as YM, ES ER2 is definitely markets where overtrading can be a temptation.

    One trader told me, he has blown his account a few times, although he has well over 5 years experience. I wont mentioned no names. I ask him how many times did he trade a day, he told me up to 15 R/T a day. I said that was part of you trouble. If you buy at market which most do on futures. on 15 R/T a day, he would need to make 30 YM points just to cover the cost of trading, not a lot of traders know this. let me give you guys an example Based on $5 R/T

    bid offer
    You buy the offer at.. .12024 / 12025

    Market moves, 1 point 12025 / 12026

    Market moves 1 points 12026 / 12027.

    See the market needs to move 2 points just to breakeven. so if you are trading 15 R/T a day. you need to make 30 points just to cover trading cost,

    Professional PRO traders I know tend to specialize in one pattern and one market.

    I thought I post it here also, to help others..

    Buzz
     
    #54     Oct 18, 2006
  5. buzz

    buzz

    To make money in the market, you sometimes must go against the crowd, despite the appeal and seeming safety in numbers.
     
    #55     Oct 18, 2006