Dominic thanks for the encouragement. Currently I am planning on going live sometime within the next week, considering making my first trade as early as Monday. I am quite excited and very anxious to begin trading for real.
I don't see that you have a real system yet...it is evolving....1 contract is smart for now...the more contracts you trade now, the faster you lose your money....Paper trading is good....Real money trading will tell the tale....If it was as simple as taking the crossings as you think, 95% wouldn't lose...You haven't discovered anything except the most basic trading system....and it usually isn't good enough...be careful, be smart, and don't confuse beginner's luck with success.....the 2 point stops will be someone's Christmas gifts, and his name ain't Kserra. Sorry for the real world comments...
Porgie I definetly agree with you when it comes to trading more than one contract. There is no reason for me to get more contracts than I am currently trading. This last comment about my stops though I just do not see what you are talking about, please provide some sort of proof or some sort of quantification as to why my stops are not wide enough. Just telling me about my stops being not wide enough is not enough to convince me you are correct. You must remember my stops are dependent upon the low of the last bar, therefore in a more volatile environment my stops would increase accordingly.
Tomorrow will be my first day of live trading. I am going to limit myself to three trades total. With a maximum of a 4 point loss on the day (this number will change throughout time but it seems like a safe number for now). I may trade on tuesday, but it remains questionable as of now. I am looking forward to trading, we will see how things go.
Well so much for trading today, after sleeping horribly and waking up to trade I could tell immediately I was not in the right state of mind to be trading. I went back to bed and got up to trade for the last hour or so but there were trades triggered during that time so as a result no live trades today. I will try to trade tomorrow, following the same rules I suggested yesterday.
kserra, I think that it's great that you recognized that your head was not in the right place for it today. Please never doubt that instinct, there's always tomorrow. Mark
I'm sorry, but why would anyone want to start trading during Christmas week?... or New Years week... or any other holiday week for that matter. Volume is light to begin with, direction seems to be purely at a few "big" traders whims, and every "system" seems to fail miserably during these times. Do yourself a favor, wait till the first full week of the new year.
Then again why should he do what everyone else does if the norm is that most fail? I traded the e-minis today based on price and did very well. Sure volume was light, but that's why the upward influence had more impact. I'm not trying to steal kserra's limelight. I'm saying he should do what he feels is right.
playme4u2c2: You have a good point and in fact this was something I had been considering as well. Although I had still planned to trade today I decided against it the night before. I am still considering trading next monday and tuesday however. So once again no action today, looks like I didn't miss out on much as there wasn't much opportunity today.