that's a pretty busy chart. does each additional element play a part in each trading decision? or market read? if the honest answer is yes, cool, keep on rollin'. if not, it may be worthwhile to make sure everything on your chart deserves the real estate. i'm not pushing or suggesting anything in particular, other than making sure everything you see on a chart facilitates, not obstructs, your view. g/l
Moreover, who sez that those 2-ticks are guaranteed? In a fast moving market, it takes less than a second to move 2 ticks, let alone 2 points. What happens when the market immediately goes against you? Just where do you bail out?
EminitraderDM, I am NOT- repeat NOT - offering trading advice here...but, what I will say is this...I am hard pressed to believe that trading fast moving E-Minis will work in a VERY volatile market via charts. I think you would/should become familiar/comfortable trading via numbers - watching the actual ticks and movements of the market - more likely a "Depth of Market" view. I repeat - I don't treat those babies (E-Minis)...but, I do watch them now and then ;-) I WILL recommend this - see if you can find out the latency and number of missed "messages" per day from your data supplier - this may help your choices -gastropod
dude...in all reality...this means absolutely nothing...sorry to burst your bubble but...nothing, nothing, nothing can equal what trading with real hard earned $$$ cash is like. You do not "sweat" or anything with a sim demo account...who cares?...papertrading or demo sim trading is actually very deceiving compared to what trading with real cold hard $$$ cash is...I've personally learned nothing from sim demo trading and everything from all the aspects of trading with real/live $$$ money...just my thoughts but do what you do your own research and best trading to you..
Take the reverse perspective and state your plan for exiting losers. Max draw down, max trades per session. Do you know when to stop for the day? Are your entry signals calculated and consistent? If you have a plan to limit the downside and when to stop trading than by all means go live.
Tru dat. I was just reading a book that used MRI technology to monitor brain behavior while the individual was playing a game. In one scenario the individual was rewarded 1 cent for every point he earned in game play. In the second scenario the individual received 1 cent, but the reward was given to a charity. What was interesting was that the two different scenarios created activity in two very different parts of the brain. Everything else remained the same. Paper trading and real trading, I believe, are the same in that success while in one brain area does not translate into success in another part of the brain. Too bad, I wish it were different. Paper trading is good for learning the mechanics of trading but little else. When Sammy Snead, one of the greatest golfers of the 20th century, was asked what is the quickest way to learn to golf. He replied, "Play for $100 a stroke!" No gain without pain.