A comment on the $10k mentor deal... I've had many mentoring pm's from people on this site over the years. Honestly there is nothing anyone can offer me (that I would feel comfortable taking) that would make it worth my while. $10k is a paltry sum...one or two missed trades due to the distraction could cost me more. The only people I would ever consider teaching are family or good friends, and even then I would have a lot of hesitation due to the nature of the business. Those who can't do...you know.
That is good for reference but not "the edge" people talk about. There are alot of pieces to the puzzle. That is all i will say. And i will leave off with this "If i don't see you through the week i will see you through my level II window"
This is not the guy you want to see through your level 2 screen. Believe me...hopefully we are on the same side..
"Do me a favor pull up a 1 and 5 minute chart using 20, 50, 200 day moving averages and tell me there is no money to be made using them. Use es h8 as an example I use other tools as well but don't say professional traders dont use them." ratchet up the reading comprehension and let it flow... moving averages have some utility. like many TA tools, they offer a frame of reference, a way to define risk, and the knowledge that many other traders look at them, so there is some self-fulfilling prophecy as well however... they are also backwards looking and have little robustness in a market like index futures that are so often means-reverting. so, let me explain again... i can tell you this from talking and seeing the way institutional traders trade AND being a successful futures trader. you need an edge. if you think that moving averages alone will give you an edge - knock yourself out. but i'm telling you... it's not that simple. moving averages are very easy to backtest. show me a MA system , and most are not robust and consistent. they will work if you cherry pick the time period, but in the long run (and again, i am referring to intraday trading...) not so much. i know one or two traders who use a few lagging indicators. like i said, that's not my style. again, they are useful as context, as risk defining mechanisms, etc. as a reason to MAKE a trade - i think not
The only two times I ever use a moving average is for my 2:45pm est scans and 10 year quick glance.(stocks not futures) I'm sure they have usefullness for others..
I have been trading equities for almost a decade and just recently started trading futures. Trading is trading, once you LEARN how to trade, you can trade anything. I actually find futures much easier to trade than equities. I am not trading anything big, 200 contracts at a time. This may sound stupid but I really don't care for Institutional traders. Unless you are trading your own capital, you aren't worth my time.
I agree. I just met a man that makes $50K a day in options when he trades outside of volatility. His best day was $680K inside volatility. Something to aspire to.