Daytrading works for me. As far as futures looking smooth, yeah they look good lately, but when they go flatline I can find oppotunities in stocks and not be stuck with the ES futs not doing anything. Its called odds.
Your still not answering my questions and I can only assume the reason is that you do not have a trading plan. Therefore, I will repeat...stop trading until you have a trading plan along with having the ability to explain your trading plan (type of price action your method is trying to exploit, entry signal, initial stop/loss protection, trailing stop method, profit target method, exit strategy when targets aren't reached or price action changes after entry et cetera). For example, what is written in your trading plan to tell you how far price must move in your favor to prompt moving your initial stop/loss protection into a profitable trailing stop. Heck, your chart layouts may not be appropriate or there's something you have on your charts that's causing conflicts in your trade decisions during real trading conditions. I mentioned the chart layouts on the monitors because its one of the most common reasons why many traders have poor trade decisions when everything else or most of everything else seems to be right. Please re-read the paragraph above. I'm not talking about a single maximized chart as if your posting a typical chart you'll see when someone saids this is where I took my trade at or exit at. I'm talking about the complete layout that shows all your charts, broker platform and anything else you have typically up on your screen while trading. We'll never know because so far all your doing is talking about risk:reward ratio scenarios and there's much more to successful trading than that along with being much more than that in a in-depth trading plan. By the way, nobody can properly answer your questions about risk:reward ratios unless they know what type of price action your typically taking trades in and know what your entry signal is. I'm giving you a big hint that risk:reward ratios can be in conflict with the type of price action you tend to trade. Anyways, don't take another trade until your able to answer my questions, show what's on your monitors while your trading along with getting in person help. Mark
I agree there are many styles. Personally, I suggest you become a specialist in a very few items you trade for a living, and do not "scan markets", nor "chase" movers. Being a specialist is one of the keys to success. Not all that glitters turns out to be gold. My own work, in part, is in equities based futures contracts which I do not consider to be any more risky than stocks. Again, become a specialist and find your niche.
Of course there are a million ways to trade the markets. In Bill's case I am suggesting going the route that the most people have had success. Why would he make it harder on himself by trading such an efficient market that so many people struggle with?
Dude, whatâs your story?!#?? Are you paying attention to anything this guy is telling you? Because you should, he can save you a good 3 years off the learning curve ⦠which is good for you, because frankly, you donât have another 3 years to spare if you want to salvage your personal life, which IMHO, is a lot more important than learning this game. Do you "get it"? Good trading, JJ
Look, this is just another provocative bogus thread to get clicks to show advertisers. They had a thread called 'technical analysis doesn't work' and it just ran and ran - loads of hits, so they tried another of the same genre.
He has not answer my questions about having a trading plan... It's either Yes or No. He has responded by asking questions about risk:reward ratios. That's not an answer and if it is... That implies he doesn't have a trading plan. If that's the case...he should stop trading. Also JJ...I think you got me confused with someone else because you and I had a prior conversation a long time ago (soon after you arrived at ET) about how long I've been trading this market (since the 80's) along with my profitability. Therefore, I'm going to assume you either forgot about the prior conversation, your confusing me with someone else or the you in your statements is not directed at me but to others. Let me repeat my statement... He should stop trading if he does not have a trading plan especially since he obviously has questions about very important aspects of trade management. Once he gets a trading plan develop along with getting in person help... He can go back to trading but that seems highly unlikely considering the pressure he's now under with the personal deadline he has set for himself. Good trading, Mark
I've been in talks with Bill by PM to be honest his method is not to bad. However, I feel he does need to make some changes. He came in to ET futures chat room today, did not say anything but he PM me.... He have had a few PMs but thinks they are people who makes elaborate, fraudulent, and often voluble claims to trading bottom line they will then ask for money. Bill asked me to help him trade, I had to pass, my style will not help him make money. anyway good luck bill come in to the room tomorrow maybe you pick something up. Mark I have sent a copy if his method he give to me I've had his permission to show you. He seems a nice guy, Buzz
Thank you Buzz I'll be there tomorrow for the Live chat room. Mark look forward to you PM. Buzz told me you are helpful and not out to make money like some other on here. Regards Bill