For the past 5 months I have given trading by best shot, the results you can see yourself. I haven't lost money, I did not blow my account but I did not make much either. The attached picture shows almost 100 days of trading the ES, making 1 to 20 trades a day with 1-2 contracts. I even have a journal of the last 5 months maintained daily with charts and comments. http://aheadtrading.blogspot.com/ After all this I feel I should be further in the game, instead of being consistent break even trader I want to be a consisten profit maker and just perhaps there is someone who can open my eyes to trading. Maybe a mentor of some sort who has nothing better to do but give some knowledge to somebody else will see a potential in my trading. Anyway if someone here with years of PROFITABLE experience in daytrading futures has some comments, my eyes are wide open. Maybe all I need is some tweaking.
have you thought about checking your testosterone level before you begin trading each day? maybe you could reduce your drawdowns
Trade in boxer shorts and you will have better results, if you get chilly try Adidas Tear-Aways. I read your blog, did you plagiarize Waxy or Mohan?
shortie my testosterone level maybe too high Surdo trading in boxer shorts is a good idea PaulRon funny how the daily profit charts looks like a market action chart .... and sure you can short it but beware bear markets are shortlived
I think I understand what your problem is by looking at the charts in your blog. You scalp the market up and down and take way too many opportunities. Taking so many opportunities will result in many errors because a trader is not proficient enough to maneuver every move up and down. Trading off the 2 minute chart is one of the seductions in believing the closer you look the more control you have over the market. You want to design and perfect the system, not yourself. I believe it's a fallacy to assume that becoming break-even is a significant step toward consistent profitibality. All you think of is "just one final touch to the system and I have mastered it". Your profit graph shows it very well: The system is starting to fail and you get nervous because it's the only thing you rely upon. The advice I want to give you here is to take a step back and concentrate on what is really happening in the market. Shut down the small time frames and look at the 15 minute and daily charts. If the market (specifically the ES) is rising like it did the last few days, what were you thinking? I see you scalped it up and down, but you could have made several thousands with one contract effortlessly. Get a feel for the money flow in the several day picture. The market gapped up after Tuesday's close. What does it tell you? Think ahead. Here is what it told me: The buyer's have said "hand over the oars, we are in control now". Go long. Close or reverse when you see evidence that sellers have re-gained control. Up until now it's not the case, although we must not neglect the 1400 resistance. So if bulls cannot penetrate and hold this area we must objectively ask ourselves if the buyers really have it in them to take us higher. Perhaps they are simply not ready, yet. Then we should consider yielding to the bears again. You might like your system and will still try to construct it till perfection but I can tell you that the successful trader always looks at the big picture, not the small one. And it is quite obvious why. Because his experience has taught him that being active is not beneficial. Hope I could provide some insight.