Good point stereo, I think this method is very labor intensive and difficult but does get easier in time with practice. I would be suspicious if it were so easy and money would fall from the sky but I know just how much work and time is required so I see my results as the fruits of a lot of labor rather than some free lunch.
Hi harold, At this point you need to ramp up further in contracts. I can see that you recognize the times of the day when you can't be flat out. When you do have a medium/high/ extrodinary market rolling, then you need to use a way to take on more contracts. This is what others have done. Each week work through the following. 1. Apply all profits to adding contracts or the protions of days that are rolling. 2. On Friday sweep your account back to 54 contracts margin. Use the swept capital in PVT up to 100,000 share cap per stream ofcapital and partial entries and exits according to the blocks going through on T&S. Here is the benifit of these two activities. You will begin each week and ease on up aways in contract levels you start below 50 on average and then you do start above 50 by Wednesday and that gives you 2 or so days above 50 on parts of those days. As you know we are going to expert by end of the year. As you look at the T&S (use one display with 50 or more) you see the league that SCT plays in. You see when the top three games are being played on the DOM as well. The thing we are mostly looking at during this transion is how the players break up thier trading position into trading blocks. I did an example of reversing 750 in three blocks of 500 recently. In the next few weeks just trade a block when you can. After that the beginning of a week with 54 contracts can go to doing the added contracts from profits falt out and breaking the total number into rapid fire partial fills that will go off at about the same market prices as you will see. the underpinning of having to add contracts as profits are made is a condition that "warrents" the addition. It is a condition that by doing so you get small coninuing "boosts" in support, comfort and confidence emotional aspects. Our definition of comfort is other than you are flowing capital beyond lifetime expectations and is directed more to the FACT that you "have the goods" to trade on higher and higher levels as you EARN that priviledge. What the expression "cars" means will become apparent to you after a while. What is happening in this thread is a general shift by a lot of people towards the regocnition of how successful traders are using sizes of contracts that ET does not ordinarily have in its pages. 2007 is making this a different situation at least with respect to the ES and equities. 1 family out of 110 is a millionaire family. Anyone can drive around their town and count the houses. For every 10,000 homes there are about 100 millionaires. We aren't doing the CNBC thing where multiple registration gets you the million bucks and doing short squeeses wins you the wekly 10,000. In SCT as it goes on up from beginner to intermediate is what it is like to win over 10,000 to 50,000 a day and by the end of a 12 week CNBC contest a real 1,000,000 dollars has been racked up. Weekly sweepings get you revved for later when you will be doing rapid fire partial fills to get your reversals over the tops and through the troughs. I appreciate your interacting with others so they can begin to move from one viewpoint to another. I know you understand that some people have crossed the line where they are so deep into the conventional orthodoxy that it is an irreversable mental situation for them. Gerry, google and you will find all of your answers; they have been up on the web in some cases since about '90 when we passed 10,000 for the known number of people doing this paradigm. Around there you will find a contest finalist who got the count for us. I am going to spend my primary time in 2007 working on the expert level starting with PVT journal and ending with the SCT journal.
Why is that? Why should channel trading be so complex and require so much training? Hasn't channel trading existed for a long time?
semi-auto, it still need you (the trader) at some point. to re-wire your (the trader) brain. only time will tell. Don't worry about how others make profit, lets worry about how you are going to make it. * see above. how long? it's all depend on each individual trader. * no, before spyder and ET it is very hard to learn. I will say it is immpossible to learn. Now it's easier than before but there is no such thing as 'so easy' if it's 'so easy' then you already master it by now. before spyder, there are probl couple of guys know how to do it partially so 1,000 sct trader is just a fiction number. sad to say, this didn't happen until spyder penned his first journal. this linear reasoning never make sense i.e. if you make 1k today then it mean you make 365K for one year. Also see Harold Balls for more on what to expect realistically http://elitetrader.com/vb/showthread.php?s=&postid=1401075#post1401075
You might as well get a new identity here because this shines a spotlight on you as an ignorant liar... who doesn't even know enough about trading to fabricate believable lies! Not that any or your other posts make sense... just a thought!