Thanks T-REX. I'll try to call you one of these days. Try to pick up some wisdom from the Master -Fast
Or, plan B: Go find some rich girl, marry her, then sit home and trade all day. When you figure out how to make lots of money consistently, divorce the rich girl and marry for looks!!
Right now, cash is not the objective. The goal and objective is building trading skill so this would not help me. Thanks for the suggestion though. -Fast
You seem to perceive that you have to watch every tick on the screen in order to trade successfully. That is very damaging to both your health and your account balance. When I do have the occasional opportunity to trade at home, I'll watch some TV, have a nap, and go for a walk. In other words, the amount of time I spent watching the screen is not much different from when I am working. I don't use fixed stops or targets when I trade. I stop when I don't feel right (which is very rare), and I take profits when I feel it's right. Everyone has a different system; however, I only do one or two round trips per day, if I am daytrading at all. Taking too many trades is another shorcut to the poor house.
One guy I know had a wedding planned for next week, but the girl wouldn't sign the pre-nup so they broke up and called off the wedding :eek: And I know this has nothing to do with anything in this journal. It just popped in my mind when you presented Plan B -Fast
If that's the case, you shouldn't be trading ES. You'll get killed no matter what. Trade QQQ or FOREX.
Not necessarily every tick, but I believe certain levels do present opportunities that require the trader to be watching the market. For example, I wanted to short the 1060 level, so technically, I could have just left an active Sell order at 1060, but I wasn't 100% sure how migh higher ES would go once it broker 1060 so I didn't feel comfortable just leaving a Sell order. I want to be watching the market when I'm in a position. Maybe I've got this whole thing wrong -Fast
I'm not sure I follow you here. My acct size is not an issue...I have more than some full-time traders who trade 10-15 lots. -Fast
I just realized that you're way underfunded to trade ES. Watching or not watching, it doesn't matter. You'll be wiped out and you don't have to waste your few grand to learn that lesson. Move to something smaller.