Answers:::: 1. I was not offended or felt disrespected by any of the comments posted on this thread. As a matter of fact I want people to be honest and brutally frank when answering my question. After all, this could and probably will allow me not to loose a bundle of $$$$. Furthermore, I appreciate all the comments, no matter the what the color or shape they have. I understand that all of them in the long run will help me become a better trader. 2. I have read the arguments against it, and there are some points that are valid I admit that. 3. Mathematically it looks like an impossible task in the long run , but than again (and please correct mer if I am wrong) most of the professional economists would argue that one can't beat the market, yet it has been done by some. 4. Sometimes the simple solution IS the solution. 5. have you tried this particular approach???? 6. I will try to chart my own path. Naturally, that does not mean I will not listen to those who are wiser and have more experience in this field than I do. However, I have not achieved my position in life by being a follower. There are thousands of followers trying to look busy wasting their lives working in MD and Wall Marts of our society. I am not one of them. Thank you for the wishes! Saxon
If your actually considering opening an account and putting some money up, take into consideration the very simple yet often overlooked fact that nothing is as easy as it seems. If it was really so simple to half tick the ES all day, we'd all be doing it. Further, what you'll come to see is you don't really ever cash out at a half tick unless you have you. Most scalpers if they lift an offer, say 1330.0's, then see the market go 1330.25 bid pretty quickly are then just leaning on the 30.25's, but definitley not hitting the bid before you see if you have a shot to sell the 30.50's or better. I'd say spend alot of time on a simulator before you open an account, get a good indicator and some setups to base your trades. Not necessarily than anything more technical than watching other indices if your good. I.E. if your trading the ER2 and you know the ES is leading, markets flat but its around 10.30 and suddenly ES goes bid, followed by NQ and YM....get onboard ER2 cause you know its next. Seeing stuff like that, other markets getting bought/sold is alot of scalpers indicator. Watch out for that fake size in the ES, it'll drive ya nuts.
You are talking about 100 lot size and couple of trades a day. With that trading style, you can easily do 1000 contracts a day. You are dream come true for retail broker. So, you should lease/buy the IOM seat so you can trade the ES and save on commission.
Well, at least you are not knocking it entirely out of the ballpark. As for having a mentor.... I think it would be easier for MJ to get laid in a senior citizen center (and enjoy it) than for me to get a mentor. Therefore .... could you drop me a clue as to what other markets I should be looking at?????
I am not here to flame anybody. I enjoy honesty in general and prefer to make love not war. My trading size of 100 to 200 is my ultimate goal which hopefully will be achieved in couple of years. I am not one of those fools who jump into a lake without doing research first. You are correct in stating that my stash of greenbacks had not been accumulated by playing the market. I had to work hard for it and consequently would not want to part with that easily. As for taking my money, try it if you can.
Answers: 1. Nothing is as easy as it looks, but sometimes simplicity is the key. Other times you have to follow Alexander the Great and his approach to problem solving. 2. Greed is not my disease and discipline is what will allow me to hit the sell button at the 1/4 point. 3. Thanx for this info. Of course aside from this system of mine I have looked at other traders techniques. As a matter of fact I follow couple of journals on this site and have tried trader28 approach with success on my sim. Thank for all the info.