I disagree... would you care to share your succss with us daytrading the eminis in terms of percentage or points not dollar value .. I am just curious...
Don't need big trending days. Three points per trade is plenty for me. Scalpers like Nitro, don't require much if any trend. Also, I have zero slippage. Yes, this point has already been made by someone else here. I just wanted to emphasize many day traders completely eliminate this problem. Jay
I am up around %80 the last 10 months... with a min drawdown of around %10.... I have done over 100 trades... Risk to reward of about 1:3.5 and Im right about %38. Expectancy roughly 50 cents... --MIKE
Getting back on topic, 0008 did not say that entry is more important than exit; he said that it was ALSO important, which is true. Choosing one exclusively over the other is naive. Yes, backtesting may show that exits and management are more important than entries. However, anyone who's traded for any length of time knows that cutting losses can deplete your account just as quickly as letting them run unless one is careful about entry. Anyone who wants to get into the mathematics of it should consult The General Semantics of Wall Street by Magee. And to say that one loses control once the entry is made is simply incorrect. The trader has complete control over entry, size, and exit. The only thing he can't control is whether price rises or falls. --Db
fader, i am not understanding what you are saying. there is often full day uptrends of 5 minute bars which would be 78 five minute bars. how many 78 day bar uptrends have you seen ???? i am trying to understand what you are saying but it isn't making sense to me. best, surfer
Points are irrelevant since they are not equivalent. But even if they were, no, I would not care to share my success. If I told you what I'd made over the last year, then you'd want proof, and then we'd move on down that old familiar road, ending up with who can benchpress the most. What I made or what you made or what anybody else made is beside the point. This thread is about the principle of entry, exit, risk management. If you want to disagree, then disagree. But don't disagree simply because you "believe" that what you say is true and what everybody else says is false. --Db
I wouldnt want proof I would take your word for it... I just want to know if people are really making $ trading the eminis intraday.. thats all... You seemed as if you found something that working.... I just wanted to know if you were profitable... I am not trying to start a pissing contest... --MIKE
I swing trade and I am consistently profitable.... Therefore I believe my words have more merit as to someone that is unprofitable.. not that you are unprofitable... I just want to make sure that I am having a discussion with a real trader.. not a wanna be... understand?