Want to short again at 1104 when it gets there... I tend to short a lot more than going long....don't know why
Closed for .5 pts profit because the order flow i saw was scaring me.. shorted again at 1104 target 1100 stop 1106
Stopped out... -2 points... Made 5 trades. down 4 pts on the day. My plan says I need to quit for the day. So I am done. -200 dollars . on the day. gay
Well done, you pretty well followed your plan. Only one question. When you got scared and took your 0.5 pt win what happened to price after that..? did it go in your direction or were you right in the first place ? and was the part of getting scarred part of the plan ! so you traded one ct only ? if so well done there too... after 30 to 50 trades(5 trades per day max) strictly following your plan you will have a pretty good idea wether it has an edge or not.... Best John
Brian.Blox87...best trading to you...did you just quit your normal job and start trading fulltime?...just like that?...or trading only certain hours as have to work normal job?
I never had a "job" i''ve had my own business since I was 18. I've been dabbling in stocks /mutual finds since 16... Started learning everything I could about stocks and markets for 6 years now...(im 22). Now I have around 300k that I would like to use to trade for a living and grow it to 3 million so I can start my charity. Right now my money is all in gold , silver, oil, few miners. ag stocks, nflx, appl and a few small caps.... Once I get my futures trading down I want to take 100k and give it a go. Currently I'm using a small account for 1 contract.. been paper trading for a year on the /es. I want to be consistantly profitable for 6 months trading one contract. I was doing great on paper. Now it's different when it's the real thing.... Futures have a mind of their own. I look at volume, trend lines, support, resistance levels, break outs, "FTT" (jack hershey) don't know if that's valid or not but seems to work in certain situations. Anyway that's a little about me.... I will become consitantly profitable no matter what it takes. All I have been doing for the last year or two is watching the markets all day everyday and reading all that I can at night. I have the drive to succeed in this business and eventually will do great.
John, Getting scared and taking the .5 pts was a mistake. I could have made my 4 pts there. Could an edge be someone being able to read the tape and price to volume relationship better than the majority while maintaining a good risk/reward ratio?