You better be careful with the material Anek has posted in ET. I approached him on IRC Othernet but most important I have talked to his gang. The guy trades nothing like what his AHG journal described. In fact, he's all about catching tops and bottoms. Be warned, his journal might have had bad intentions to begin with. Nice guy but a very ruthless trader. ESD
people weigh loss more than gain, a $500 gain is less important than $500 loss, that is human nature. there is scientific proof. if you lost $500, your emotion is higher compared to $500 gain. that is why people cut profit quick. even professional ones, I know champion trader martin schwartz cut profits very quick, he admitted he loves to listen to the cash regester ring. there is no tried or true system. market changes, you need learn to adapt.
perhaps my title should have read "Novice Traders Listen" Indeed I am probably still considered a 'newbie' to some traders that have been in this biz for 10 years +, but I feel I have gotten past the 'probabtionary status' that the term 'novice' implies.
It really doesn't matter because there wasn't anything confusing about your opening statement to prompt someone to say it doesn't make sense. My main point in this thread is that the S&P 500 Emini ES futures is a trading instrument that's well played by the professional traders (e.g. institutions). To compete with them you need a lot more than just a good trade signal although a few others in this thread strongly believe it's all that you need which is ironic because if you review their own message posts elsewhere here at ET...they too believe that there's no magical or voodoo indicator or pattern reaping consistent profits all by itself (e.g. they use words like money management, fundamentals, capitalization, position size management, FED actions et cetera). Further, I think one of the most ignored component to successfully trading the S&P 500 Emini ES futures is market experience. However, some traders equate market experience to only screen time. It's more than screen time. It's an understanding of what really impacts the price action of the Emini ES futures to enable a trader's ability to adapt whenever the price action changes...a change that occurs many times every year since it's birth. There's no shortcuts, no crystal ball, no magical indicator, no voodoo pattern...there's just a good trading plan and most traders don't have such which is why the S&P 500 Emini ES futures is tough for newbie or veteran traders. Simply, until a trader puts all those pieces together, it'll be a trader that will not be able to compete consistently with the pros except for a few lucky trading durations (days, a few weeks or few months). Lucky stuff that often encourages a trader to think they've found the holy grail single component. By the way, other well played trading instruments by professionals is Oil, Gold, Treasuries. I'm now done with this thread. Mark
Listen, you are still clueless! advice to you: shut your mouth until your fifth year, before the fifth year, anything you say is garbage.
Ahhh, children and their immature personal attacks. If you do not agree with anything I say, I would appreciate a reason rather than just a rude comment. This is a discussion, lets leave it at that please.
Instead of bickering, why don't you help each other. One of the last steps of learning is to teach. I'll be honest, I have only mentored 8 people in my career and those eight have had the want to make it in this business. When I used to mentor so to speak. I learned new things as well. Those that claim to be GREAT traders, you need to teach...it will help your game. Those that are new..you shouldn't even be on this site reading this garbage. All the negative words of mess with your head more than you can ever imagine. Take the time to learn on your own. Find what works for you and run with it. Since this will surely be my last post on this site...words of advice 1) Understand that its okay to have a losing trade. It is part of the game 2) Have conviction in your trades 3) Don't hesitate 4) Stay disciplined. NYX