Hey guys Just letting everyone know that I am starting a new journal about my daytrading the SP500 emini. My method is simple. My trading is dangerous but I feel I can squeek out a profit on most days. I have 31,445.90 in a trading account and can trade up to 50 contracts. I am a counter trend trader that looks for a pull back. I have tried to be a trend catcher but my thinking about the markets have turned me to the dark side. My goal in the market right now is to take 200 dollars a day after commissions. I do have a job but it allows me to trade in the mornings so trading isn't my primary income. I have a dream of making so much money in the market that I can buy a house with it. Big dream but that is my goal. What I would like from elite trader is people that are willing to help me and encourage me and let me know there opinion on trades that have really gone against me. I know sometimes when I add to a postistion that it really was a terrible area to be adding to it and that is where I need the most help. What I don't want is people yelling at me at my post times being a little late after the market went in my favor but I'll try my best to be prompt. I am not afraid to post you my losing days but I will tell you that when I lose it hurts a lot. I know most people think I will be nuts, crazy, stupid blah blah blah on the way I trade but this works for me when nothing else I tried did. Maybe I'll blow my account again but maybe not but after 5 months of trading this way, I have hardly any emotion, I can sleep at night, and feel good about "my" system. In the past I tripled a account in a short amount of time but would still have the shakes when entering every trade. I start of with 1 contract but the other day I was up to 16 contracts long and had to take a shower and didn't really rush it so I feel very comfortable now. Well everyone I wish you all some great luck and trading success. Please be kind with your posts and offer any advise you feel my help me. Right now I pay 3.75 a RT with 700 dollar margin. If someone would like to PM me a better rate, I would be more then happy to talk with them since I am looking for a better margin rate. Most days average around 7 RT's but on crazy days I have traded up to 25 contracts and would just like the comfort knowing I can trade more if/when I needed to See you all in the morning
My advice is try to stay away from posting while you are actively trading. Posting your experiences after markets is ok. Believe me, it will make at least 100 % difference to your trading. So if you were destined to make -200 dollars you will do -100 without this distractions. I am willing to help, only my advice will be v honest and hence may bite. All the best ! mishwar
I don't mind if they bite... just hate when they flame. I like my system but know its far from perfect and some of my entries are awful. People tell me my thinking is backwards as I add to losing positions and show be adding to winning positions. I just tell them if I knew my posistion was going to be a winner I would have bet the farm and we all laugh about it. The main reason I want to post fairly quick is so someone can look at the market and tell me what they are looking at. I don't think this journal would do me any good if I gave a recap of... well i did 8 RT's today and made 250. I would like to give the time and price of where I entered and exited so people can give there advise on why I was too early or too late. Its going to fun but I am a bit tipsy now so anything I do is going to be fun right now. Good luck tomorrow everyone
Well I have been trading off and on now for about 12 years. I never had any kind of "real" money to invest though. I would save up a few K then lose it. Save up a little more then lose it again. This is the most money I have ever started with though by far. I know there are people that make over a million a day trading. Well if they can make that much why cant I make 200. I saw the post saying my commissions are high. When I called around looking for rates they were the best by far. The next best was in the high 4 area. If some of you want to PM your rate with margins and brokers name I would be more then happy to call them up.
My advice is to start with 1 contract per trade for a month and then review your daily performance. Just because you can trade up to 50 contracts does not mean you should. Also, the best input might come if you give some detail to the indicators you use (no need to reveal any personal secrets) but just some general idea when a trade goes wrong so perhaps people can point out a system flaw as opposed to just being wrong which cannot be helped.