why do you need a system? unless you want to automate you only have to wait for confirmation of a trend and then enter. I used to lose money trading tops and bottoms but i have found success in this change of strategy : trading continuation moves . for example in this trade i took i entered long on the bar [the small up bar with a long tail at the top] marked with blue arrow, stop and target as marked/shown. the 3 bars before entry were down bars but with long tails showing lack of strength of the sellers;
hi, i am new to this forum but not new to ES trading. I have been trading ES since 2016 and blew up my account in late 2017 after being greedy and also undisciplined. Since trading from home and my biggest difficulty is treating trading professionally and taking it on more as a gambler. I have amassed quite an experience having spent considerable time in front of the screen both real and on paper. Even though on good days i make upwards of 5k in few minutes, still i tend to have bad days where i lose it most of the winnings. I seem to have several weaknesses, which being alone while trading seems to be the issue. If trading with a few fellas would generate that professionalism. But i have not been able to meet independent traders in my area where i live. So my question is how do independent traders treat it like a real job trading from home and spent time preparing for the day. ( because with way i am trading i feel like i need some convictions from experienced traders that what i am doing is normal trading method, there is always that feeling that i am still an amateur). Btw my trading methods are profitable and i am able to read the market direction both up/down and also entry and exit price areas quite efficiently. Still always have a feeling that i am not yet professional in trading just an amateur.
I still do not do daytrading but I intuit that the way of being consistent is that ,,, operate in favor of the dominant trend. I will continue learning before taking the step. In the end did you achieve Padutrader? Are you consistent operating intraday?
no it is the most difficult of all trading it is the the most exhausting-financially emotionally to stay focused for 6 hours or more is far from easy i have discarded everything i was using and now only use naked charts....if you do not know what to do looking at a naked chart, then better do nothing. Indicators moving averages etc just give you too many trade ideas many of them conflicting and distract you from seeing what is the reality i only try i see how fast it is going in which direction
nice frank honest assessment....the story of my trading life is very similar in my 25 years in the markets i too have not found another trader in the real world trading is a huge opportunity the main difference between pro and amatuer is patience pros will take 10% of the trades the amateurs take. safety not opportunism is the underlying bedrock of all pros
looking at a chart how do you know when to trade or not? if you have a edge that is consistent, then you have a better chance of being a consistent trader.
why is everyone looking for an edge and a system? understand how market moves There is a [momentum] cycle in the market.The cycle is there because traders react to what has just happened. the cycle is this: it starts with a strong momentum move,then slowly the momentum becomes less and less, with each wave, and then the momentum dies and a range is the result. if you keep searching for 'systems', if you use indicators, ellliot waves, Demark, fib, bollinger bands,it will distract you from seeing what the market is doing. go naked see the naked chart see it for days weeks or months and then you will see this cycle
yes its very hard to meet real traders, cos i am dying to meet someone who trades for real and is consistent in his trades. At the least i can compare my methods and weaknesses and learn. Most of all i will get the conviction that i am a trader and not a gambler. There are situations where trades go against you and that shakes your bedrock. At the moment as i reply yo this forum, i just placed Es trades at 2715.25 and sold at 2719.75 x 10 contracts and its pretty neat money for 15 minutes of trading. But deep down i dont feel the satisfaction because i know there will be trades where i will gamble the winnings away.