Thanks, you need three things: 1) a good system 2) faith in your system 3) discipline to ALWAYS follow the system The short isn't over but i couldn't resist the 10 points profit. EDIT: Good entries are part of the system. It took me years to become disciplined enough to be able to give back all the profit because the system said to stay in the trade. I always try to avoid losses, because if you can do that you can continue trying for free because it will cost you nothing.
Indeed that was a very good trade, but IMO it's more a case of having a fantastic entry and his experience suggested waiting for a large move there, in the worst case scenario he would have been break even. Me on the other hand, an inexperienced Muppet that I am, I also had a fantastic entry, though my experience has prevented me from doing what he has done. In the end I've lost all points gained after first entry and given a bit away as well. Still long here and against the trend.
Don't sweat it too much Romik, trading the ES is not easy. I shorted @ 14.75 this morning and got shook out @ 12.00... and I've been doing this awhile. ...I live and die by my predetermined levels. That's why it's so important to have a "runner" that you don't touch once in the money. EDIT: You know, I used to think that entries and exits were of most importance (not suggesting they're not), but the longer I do this, I'm finding that position management rules above all... it's a trip.
When i took my profit my system indicated the intermediate bottom. I expected a correction, the correction came, but the short was not over yet. But that was no surprise. In the last hour of trading any extreme top or bottom has to be used to get out, because many times the last hours is used to close positions which means that there is pressure on the prices in the opposite direction of the trade. So i would definitely close here at around 1305 .
eminitrader.......porgie so sad u don't like his posts.......sorry if i am a bother to you...........but i earned what i have.........not money.........but a system that is not supposed to happen............es nq ym 1 min to monthly.......same signals.......after many months still waiting for the first failure........intraday trading each day.......real money real time.......don't let the posts bother u........learn to trade and have discipline enough to try to pick the gold nuggets....out of th eposts........
Short 30 minutes after the opening. It was short from the opening but had to find a good entry. Didn't want to post earlier. I've been bashed too many times and don't want that these bashers would profit from my realtime signals. To proof that i do know something about trading i told that we would go down for hours, i also posted the close within 1 minute from the signal. I even mentioned later on when we went up again that the short was clearly not over. In the last trading hour i said that i would definitely close my trade around 1305; we were at that moment at that level, the low of the day. And we went up again as posted before. I don't feel the need to proof myself, just wanted to show that you can achieve a lot in daytrading. There are people who make good money on a consistent base and with monthly returns far beyond 100 % a month. But if we start that discussion again the bashers will be there in no time.
Was just a question, no need to lay out the violins and put on the suit of armor and defend your castle lol I shorted at 1316 or so and got out at 1314.75 or around 10:15 AM. I was just wondering when you got in since the time was off... Also I cannot see why a few bashers would affect your posting decisions lol....
spike.........u r wasting ur time explaining anything t o anybody on any forums.........trust me........they will go along for awhile until some lurkng tin in the shadows find u won't give them the goodies and then they will cut u to pieces and insult you and your family........not all of them and this forum seems to be really special as far as decency and respect. but trus t me that will end soon.......not with the nice ones here now but the idioots who wil show upsoon....i think we have a lot it common and i think u like myself don't have anyone to talk to about trading for the most part...{at least i didn't for years unti l my engineer brother retired and has that been a challenge.......geniuses don't make good traders in a normal span of time} ...that makes a lonely day and especiall y is if you have no one on your experience level to talk to.....not likley you will find them here.......i say again the people here now are not typical of forums.....they seem to have character.........good intentions ............best wishes.......i traded and developed es systems for a few years........
Wasn't defending my castle. Wanted to give a correct and complete explanation. My posting decisions have been affected by the bashers because, i didn't want to, and still don't want to fight non-believers. Posting was meant as a relaxing time waste while waiting for the outcome of each trade. But it wasn't relaxing at all, so i stopped posting. In this thread there was no hostile behavior, so i posted every now and then a bit, but the real enthusiasm is over.