Cool! Do you ever sim trade stocks? I traded the ES last year for a while but decided to try stocks because I couldn't day trade anymore (job doesn't allow me to watch the market all the time so now I'm trying out a semi swing/day trading strategy where I'll enter a stock in the AM based on daily charts and close out at market close, been catching about 60-80% of the days move. It's good because I can put on a position, set my stops and then not bother with it til market close.
I actually have sim traded stocks before with really good results in fact! but I was daytrading using the simulator from directaccesselite and when i went over my trades at the end of day, it seemed like they were giving me better fills than i actually got and that the results weren't accurate. Having said that, I did find stocks alot easier. So many to choose from met that there was always one displaying price action that interested me for a nice potential trade. However, The PDT rule would mean that even if I wanted to trade stocks, i could never afford to (25k), so what the point in practicing something that i'll never get the chance to actually do... Anyway,still ended positive on my first week of this thread. See what next week brings I guess....
You could swing trade and then you wouldn't need the 25K for PDT...but I think if you are able to watch the market intraday then ES is a pretty good idea. Wishing you good trading this week! I had a pretty good week last week, let's hope it holds up
I just wasn't good enough to identify it as a one way trending day until about the closing bell! I generally always lose on these sorts of days. I tend to just play off support and resistance, and so on days like this, I short at a resistance point, it stalls for a while and then flies up. An then it comes to the next resistance point and does the same etc. I noticed that Lots of the guys in the ESjournal thread were doing the same (not that that's why i took the trades), so that proves to me that even good traders aren't always able to identify what sort of day we are in until its too late. Well done to you though! must be tempting to jump in with real money when your results are as consistent as yours seem to be.
Very tempting! I've been sticking to my trading plan and strategy for about 2 months now and haven't had a losing week so far, but then again the market has been on a tear during that time. I want to sim trade for another month or two then jump in with a small amount at first and try and replicate my results. Good trading tomorrow!