see http://www.elitetrader.com/vb/showthread.php?s=&threadid=149700 for a profitable system for ES. But it is only 1 trade per day.
1. Forget indicators. 2. Throw up a 610 Tick Bar chart, along with 1 min, 3 min, and 15 min charts. 3. Mark areas of support/resistance. 4. Mark higher highs, higher lows, lower highs, lower lows. 5.Learn a couple patterns (bull flag, bear flag, head & shoulders, triangles). Trade PRICE. If you're inclined, you can throw 34 and 200 period EMAs on those price charts to give you a general sense of "trend". That's it! Good luck.
Give the guy a break please. You are a moderator and yet you post disgraceful and childish comments. That says a lot about you as a person and your trading results.
This is a good post in my opinion. The turtles sort of proved this, all their traders were trading the same system but everyone had different results. Only a few really made it, some washed, and some lost. Focus on developing yourself as a trader and then you will find your own edge, and it could take a while. Try to look at the markets in a way that nobody else does. Simplicity is usually best. Most of the time the set-ups taught in trading books don't work anymore. Lastly, when you do find an edge the hardest part of trading, at least in my opinion, is implementing that edge without emotion. Or if you are an emotionally aware person you can watch your emotions and use them to guide your trading. Buy when you are most afraid and sell when you are really happy with your profit. Good Luck
So you guys up to speed; a "good", "profitable" S&P trading system costs north of 10M. The rest of them are not worth a penny!
Plenty of traders make good coin. My advice is: PUT IN 10,000 HOURS OF LIVE TRADING. Many of us paid this price to break the success barrier.
Hey OP, you have serveral choices: 1. Check out one of the many threads where traders puport to be giving away a free trading system, and start working at it. 2. Check out one of the many chat rooms where traders puport to be helping people with their trading, and start working at it. 3. Start reading books and studying systems so that you can begin to make heads & tails of the market.
What has been posted pretty much covers it! Read a few books and sit down with charts and study for tradeable setups. Study like you were working on a MD, JD, or a Phd. Defined, disciplined study is the answer. Not easy, but worthwhile if you put in the time. More and more studies are coming out demonstrating that the greats in most fields are people who spent many hours of focused training learning their craft. Tiger Woods, chess champs, great hitters, best doctors, etc. They study, practice, study, practice, etc.