I'd rather trade the market and be stressed out when the market goes against me and earn only $100.00 a day than have to go to work at Taco Bell or any job for eight hours a day and make the same amount of money.
LOL 1 trade = about $7.70 of profit? Hope you got a good broker. For that matter I'm sure their brokers LOVES this style of trading ... JJ
I see you use DTN as your Data feed?? And if it is anyconsequence,, I prefer a slower more mothodical trading style (like the one generated by that chart) I trade corn on a 15 minute chart, I might get 2 signals per day, but those 2 signals tend to net me $250/contract with an average of $200/contract. (150-250) If thats poor trading, then maybe we should remind people of the story of the Tortoise and the Hare. It applies in trading. Trust me I learned that one, trying to trade to large and losing to quick. My 2nd day trading YM, I lost 3500 in under 30 seconds. When I developed some similance of a money management plan and started with one contract, I started winning more often than not. The I was able to build up the # of contracts traded (after I made some money)
<i>"I trade corn on a 15 minute chart, I might get 2 signals per day, but those 2 signals tend to net me $250/contract with an average of $200/contract. (150-250)..."</i> Not to direct this thread more off-topic than already is, but trading corn futures is something that recently grabbed my attention. Electronic execution, five times more open interest on the dome than ER or YM, hours are 10:30am ~ 2:00pm est. Using a bigger chart like 10min to 15min, it's possible to hit +3cent to +5cent moves on a consistent basis. At $50 per 1cent move in corn, it is considerably more smooth and methodical than any of the emini index futures. I'll be trading corn futures soon myself. Sorry for the rabbit trail aside... back to the focus of this program
Hey giles117, Yeah, I use DTN along with Medved QT, DTN's a great service and Jerry's company, well, may he reap the benefit of all his good works. Thanks for the confirmation, one of the main reasons I stick around this joint is to connect with other traders who have had like experiences, they mean the world to me, since a) most of my friends don't really understand trading or want me to pull money out of a hat for them and b) I don't discuss my trading with people who aren't my friends. Bottom-line, I don't talk about what I do too much to folks. You're on the right track, (I don't think anybody around here will aruge with using a 15min time-frame eh?) much continued success, and, as often happens in these parts hereabouts, thanks for the heads-up regarding the ag futures. Good trading, Jimmy Jam
Yep, you're right - sorry...that's what I get for posting after staring at TurboTax screens for 3 hours.
Be careful, your post might get deleted. It was WAY OFF TOPIC, seeing as how these guys only the handle the YM contract. Yeah, yeah, I know ... baby steps. JJ
Not off topic, The topic is can you make money with a tiny account (Sorry, be successful) I say yes. I started small. $300 to be exact. I agree JJ, I dont talk to anybody about what I do (except 2 people. This kid I am mentoring and my wife.) I thought you were using QT. Nice program. I use InvestorRT.
How many of those 13 trades involved adding to losers? During a 30pt rally in YM they had her short virtually the whole way up. If the market hadn't retraced a few points here and there what would her losses have been?