Lots of people will give you generic general advice, like keep your nose to the grindstone and grow big balls. The first real test of you and your system is paper trading. Use a real time program, even a weak one like the esignal version is OK. Adjust for slippage and commissions and see how you do. The point is: if you can't do very well paper trading, don't bother with the real thing. I've seen people back test like crazy and 'prove' their system, yet they can't execute it in real time. Once you're getting rich paper trading see if you can float above break even with real trading. If you can, its a matter of refinement until you're making a good living. FYI, My 'system' is to estabish a trend by charting (Heikin-Ashi 1 min candlestick) a carefully balanced portfolio of stocks and eminis that reflect the market of my target stock and then I trade my target based on trends that my portfolio is establishing. (hope that made sense). Note on charting, I have two charts up, the one of my portfolio and the one of my target. As per the PMs I have been getting, I don't chart the components of my portfolio, just the value of the entire portfolio. Peter
No, I have in effect created my own 'index' and besides, index values have too long a time lag to be useful in 1 min or tick charts and in establishing the short term trends I use. Indexes are old news, whereas my custom index (my portfolio) is right up to the second. Good question. Wish I could come to your Christmas party this year, maybe see you in the summer.
Here's the best advice you'll ever get....don't take any advice on trading from anyone who is making less than 100k year FROM TRADING!
Its hard to know how much someone is really making. Some traders will give advice and post like crazy, and others like Peter will post once a month yet they are the ones making 500K. Peter, it would be nice if you would share strategy for building a "trend indicating" portfolio with the online community. Give us an actual example. Thnx