Sputdr, In your first post you said, "I just need to hear how stupid I am from somebody else." I was just telling you what you wanted to hear. The point of my post was to inform you that no one that trades the S&P futures is watching the dow, so you thinking that the S&P follows the dow is flawed. For the most part, the only people watching/trading the dow futures are small retail traders that have virtually no effect on any other markets. 5yr
I agree. You may be overthinking this. Keep it simple. I am continually amazed at the number of traders who think markets are incredibly complicated. I don't believe this is true. good luck fwiw...forget the Dow AND the S&P. Trade the Russell!!! $$$$$$$$$$$$$$$$$$$$$
I trade the overnight, not the day. It's not the same thing. I appreciate everyone's advice, I just need to stop being so stubborn. I just needed to hear it from somebody else. Thanks much.
I start trading each day around 4:30 central time to trade the euro fx future and often find myself drooling at a swing I could have traded if I had gotten up an hour earlier. Then after the indexes open I mostly trade the emini russell. I wouldn't trade the indexes before 8:30ct except for sometimes after a 7:30ct news release and when I do it's the emini sp - I wouldn't trade the russell then as it's way too thin and the bid/ask spreads are often 5-6-7 ticks.
I am confused. How can you say you have been trading for 6 years and mostly profitable, then ask such a question? Get up at 0300am Chicago time, where do you live? Trading is not for night time, sleeping is.... Unconfuse me.... Correction: You say always profitable, interesting. Fess up, you would "LIKE" to be always profitable...
I've never had a negative month and my worst year has been 70k and my best year 150. Seems like I have hit a rough spot and I'm trying to break the habit, this is my reason for posting my tale of woe and was looking for a kick in the ass. I used to get up at 5am and if I didn't make 750 a day it was a failure. Since the merc decided to go public and let every prop shop and arcade in with all these guys trying to hit homeruns everyday the mkt reacts violently and it can be brutal. I feel like it's more gambling than anything now. I'm profitable almost everday but I hit way too many ruts, maybe I"m burned out who knows, maybe I'm unable to make the necessary changes, probably. Got some good news today anyways, probably will only be trading for a few more months full time but I hated the fact that I felt like a failure and had to leave but have no problem leaving on my own volition. Thanks again everyone.
If you are making between 70 and 150k trading overnights, then why are you still holding a daytime job ?
It's closer to 70k but without any benefits 70k might as well be 55 which sucks. It's expensive to live, I hold the second job because it's easy and I have all day to do nothing. I think I'm right at the cusp of trading for a living being worth the aggravation and expeses and working these strange hours.
how much size are you doing to make so much ? there is not that much range overnight compared to the daytime hours ... maybe you can try trading the DAX ? have you usually gone long overnight on dips? some posters on ET claim this has been "easy" money over the last few yrs ( hopefully you have a stop in place , just in case )