I'd like to become a better trader

please leave my handle alone. thanks.

 

PO

The actual process of trading (recall KISS)


Sit patiently and observe

See an entry

Identify a target

Enter the trade, plus your stop

Sit patiently and allow the trade to work its self out

Move on to the next one


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Running in the back ground (the back of your mind if you will)

You know what your entry criteria(s) are for all your set ups - like the back of your hand



Emotions, opinions, etc., are set aside – AND...

Replaced with what your eyes are telling you

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On another note

There are a gazillion ways to trade, what you are doing is eliminating all but one – the one that is yours

So it is going to take time for you to assimilate all this…, I’m in no hurry – I trust you are not either. (yeah I know easy to say)


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Btw – wouldn’t the timing be when the candle actually closes (instead of the “anticipated” close)

Become one with your moniker

RN

 

... http://www.elitetrader.com/vb/showthread.php?s=&postid=2275152#post2275152 ....read the comment by sumosam ablout sobriety ,this part where you try to make it last longer and longer is like your good day,it's part of a gradual process,so look at it as a small intregal part of something you are building,putting in in a smaller context will help you control the egos highs and lows

 

PO

In all fairness – there is a parallel process I left out (it runs in the foreground, and in conjunction with the trading process)

Let’s call it the process of creating / updating context


It is what provides your entry criteria / set ups "meaning"… and affords you the ability to weight it/ them – for any given trade




Example

A double top – in a range.., or downtrend…, stands a lot better chance of working – than in an uptrend

Context is King


RN

 

Context is King indeed, I'm working on this now and taking a week off from trading. Plus I have some family stuff I need to resolve this week as well.

thanks.

 

My advice to you would be to select a less efficient market than the ES. Trading is about finding an edge and it is harder to find one in the ultra-competitive, liquid, and visible ES than in most other markets. Trade vehicle selection is an important trading skill, but one you seem to be completely ignoring.

 

Could you please suggest any other alternatives for day trading?

I have been considering switching from the ES myself, but I`m not ready for a divorce just yet

 

Laissez, why do you want to switch? You had a great day today trading ES, I've seen your trades, you seem to be doing ok.

from my perspective you seem to be on the right track.

 

Most of great traders can make money trading almost any instrument.
Most of traders will lose money trading any instrument.
At this point I believe it's not the instrument is the issue, but a trader.

 

if the professionals were going to pick off the pedestrians,the es is where it would be most profitable,you can trade the ym , nq,,the russell but u need to have your closing orders in because it doesnt linger when it hits target, the qqqq's,spy, bear and bull etf's,options in volatile stocks