I think whatever timeframe one chooses to trade has risks, and risk to me is defined by how much market education one has and has used over their trading years. I have met many Swing traders that have done well and wouldn't ever day trade cause most believe it is always too random of price action. I use to agree there are random movements each day where ES just goes up/down a few ticks for no apparent reasons, at least that is how I use to think, but know I think if market moves more than two ticks in any direction, it does so by bigger players to arb the differences between the Index and stocks/ETFs. I have no faith any more the markets are free enterprise but controlled most of the time by our government and in cohoots with big brokerage. I have watched certain price patterns whether in hourly, 120 minute and daily develop, and almost every time will reverse. I have come to realization that this game is rigged almost all the time, and THAT is where I plan on studying from this time forward. It is always where the little trader can be raped and mamed the worst. If things weren't bad enough. http://www.globalresearch.ca/citigr...sitors-to-trade-in-foreign-currencies/5394762 These people know most folks can't trade and yet make an offer to grab all customers assets when they fail.
Given that link and your commentary, this is clearly an appropriate place to post this vid once more. <iframe width="560" height="315" src="//www.youtube.com/embed/-DT7bX-B1Mg" frameborder="0" allowfullscreen></iframe>
Hello, You guys mind if I join in with ES trades I am new here. I been trading ES for about 2-3 years off and on, not consistence due to full time job and working late on some months. But now I am focus. I am paper trading. I set a goal for myself to not go live until I am consistently producing $500 profit per week for 2 months. AND my loss per trade does not exceed $125. I have strict rules and a simple method I follow. So that I feel the emotions (pressure) of trading a real account, I informed about 4 friends and my wife that I will send them a screen shot of my Demo Account balance per day, so they see how much money I gain/loss. I have traded a real account before and loss money (about $4k) for many different reasons, mainly undisciplined, now I want to start over, this time with paper. I just want to know if what I am doing is good. I am very serious about trading with real emotions, this is why I am showing friends daily my balance... When would you recommend a newbie going live with real money? Or should the answer be whenever the trader feels he/she is ready? Is there a certain criteria? Thanks.
Do you use stops? I could see this working if the trend was on your side, but it was clearly broken last week
might be better if you start a journal, that way the critiqueing wont fill up this journal,paper trading is a necessary step, and a subject all it's own