My apologies if that seemed harsh or beside the point, rickty. I think I was focusing on encouraging no pm, and perhaps lost sight of other factors of interest to the participants of this thread. Sincerely, MarkB
Thanks everyone for your comments. I got a little stressed out yesterday. Everything's fine. I'm in this for the long haul. Trading for a living at this point is my dream. Hopefully in time it'll become reality. Not many setups in the past week so it's natural for the thread to drift. I'm going to avoid posting noise and wait for a setup. I've got ADX above 27. The SP/ES will have to rally back to yesterday's close if this is going to turn into a trade this morning.
I am. Just not doing it for my living right now. Once I hit my $ goal, I'll try trading for a living; "my dream". Trading is stressful enough. I don't want to force myself to "have to" make money before I have a decent nest egg. My mom and dad passed away so I don't have the luxury of living at home and having someone else pickup my expenses. My girlfriend doesn't make much money so moving in and living off her isn't an option.
You said you turned 25k in 200k and that you had another method that also makes you money. Is 200k not enough to trade for a living? I find it's avery nice nest egg
Db: <<You'd be surprised at just how quickly a hospital or lawsuit can eat up 200k.>> Exactly. Personally, I'd need many times that amount before feeling comfortable enough to quit my "day job." Not only should you account for possible tragedies like Db mentioned, but you also have to factor in increases in the cost of living/inflation. 200k in 10 years won't be worth what it is today (assuming we don't go down the road of deflation). If you plan to start with a nest egg that is just large enough to generate a comfortable living today, and you don't plan to grow your trading account as you go, then you'll be disappointed down the road when your earnings won't buy as much as they used to. Jason
no_pm: Sometimes the best trade is to stay flat. It is great to see that your system remained on the sidelines all day yesterday and today. In my opinion, that is another requirement for an excellent setup, it keeps you out of the chop. Nice work. Tomorrow will be another day.
3 excellent opportunities Monday...Your system said no....That is positive for you.. Monday was good. 2 reversals clearly given and 1 early run entry...Would I give or sell my system...Not after 3500 hours of study and exact #'s system gives. Don't give away your moneymaker...Giving away some of your money is great. My system said no to yesterday and today..Sept will be better surely. Maybe tomorrow. The System will give the answer tomorrow not the trader anticipation, external information, guessing game trap. Your systems are great for you and I respect that.. I am not smart enough to trade yours. seriously...I am a simple man with a simple plan.....2 entry setups...If they don't show up, I don't trade. Usually 3 or 4 point stops @ high percentage safe settings..5/10 min charts...WEIGHTED MA..Same signals for 2 1/2 years...400 charts back tested 2 entry setups... All Emini S & P 500....