Well I can understand why most of the people do not like the way I trade but if you can remember that I tried to trade but catching trends and obviously I didn't do it right cause I lost. Now I would like it if you can post some charts with your current trades and why you took the trade I think that would help a lot of people in this site. After looking at recent data and charts I feel my system is good. I feel that my first entry is good or else I wouldn't take it. The more the market moves against me the more I feel by adding on that the market will turn. Will I lose??? Of course one day the market will crush me like ..... hmmm can't think of anything but it will hurt a lot. Yes I know that one day the market will get the best of me. Show me a chart of the last 3 months and show me where the market would of crushed me... There isn't one. The last 3 months have been good to me but I know the system isn't perfect and I know I am far from perfect. I am looking to get in and out on the first 2 pull backs a day. 2 pull backs and I should get my target. Now I could wait for bigger market moves to the up or down side before I get in. That would make more sense but who knows when the market will be in just a 4 point range for the next 3 or 4 hours so that is why I take my first trade. I could use a 3 point reward with a 3 point stop.... Just to watch the market move 3.5 points against me before it makes a 5 point move. Anyways.... I appreciate all the advise you guys have given to me. If you guys want to PM me with charts showing me your entries I would love to look at them and learn about the way you trade. The way I trade now makes the most sense to me then anything. I know its risky but so is the business. There hasn't been a chart in the last few months that with the amount of contracts I have available to me now that couldn't fight my way out of. Who knows... maybe Monday will kill me but until then I feel I can take 200 a day out of the market.
just recently, i now have a deal for 125 per RT and 200 taxes for 250000 contract value. Thats the equivalent of paying $ 31.5 RT for ES ! No wonder traders here have no room for mistakes. mishwar
Its not a roth IRA but a regular one. Same as a stock trading account. Don't see why a futures account would be any different. I don't understand why more people don't trade out of a IRA that have a nice cusion to live on....... My understanding is that when you trade regular account you will pay around 20-40% taxes on your money you make. Will since I am make a small amount of money and if I withdrawl say 10k at the end of the year so I pay 30%.... 20% taxes and 10% fee...... So say I make 100k in a year trading a normal account would have to pay around 25k in taxes. Well I can use that money to add more contracts and not worry about taxes until the time I take out the money which could be years away. I am sure my numbers are off a little but was just a example
Risky long trade, again at a crucial point. Should we break the 1307 level we may not be back up here for a while. But as you said you are counting on brief pullbacks/rebounds to make your profit and take advantage of lowered average due to the addition of contracts.
Just did a small scalp. Average now 1309.33 ... Looking to exit at 1311. Will add 1 more contract at 1308 and look to get out at 1310 if I am filled there
Mister emini U are using a nice strategy but the market look very week to me like the other guy said if it brake 1307 we could go lower and i see a lot of selling coming in but u never know it could bounce back also Good luck in trading bro