1 trade today so far... trade time: :35 seconds Contract traded: TF (mini Russell 2000) +1.3 point profit Notes: if I could do this over and over, this is where I want to be
Everyone wants and/or tries getting in max contracts right before a nice move and also most fail at trading overall. What does this tell you? Perfect timing is NOT necessary (and in fact can be very damaging), but being on the right side is. You cant trade with this fear of price moving against you but you MUST have specific rules that you follow to a tee to account for what follows after entry.
I actually did have sound reasonings (at least as I saw it) for getting in and out of this trade...will post chart and reasonings when get some time here later...
All I am saying is you do not HAVE to try and time the mkt perfectly intraday but you cannot be afraid to take a little heat. The mkt has a way of whipping the weak hands out before making it's real move most of the time. And being in the 'red' in an open position is not a bad thing as long as you find that the end results of your trades are more favorable than not. How many times do we hear traders say 'Ugh, I got stopped out right before it made the move that I was positioned for' or 'I got out early, took a profit and then the real move happened'. You CANNOT be afraid, but you must have a plan
I had noticed that the TF has been leading the ES, NQ, YM over the days. TF also lead yesterday. Thought TF was due for an early morning RTH open pullback. Noticed that YM was struggling to hit earlier high and TF was even weaker than YM early at RTH open. Looked like heading to go below previous day's close...was just interested in this one trade...very thankful...here is the chart...
now you are trading the Russell? on a serious note, i have a serious question for you. If experienced traders are telling you to focus on just one market to start with, and learn that one market. being that you are not successful at trading, how do you justify jumping from market to market?