I have discovered a surefire way to make consistent profits trading the index futures so I thought I ought to share it with you. It goes something like this: Spend a couple of years studying every facet of the markets. Get yourself some top notch tools (data feed, charting, analysis and execution software). Read the trading bibles (you know the ones - everybody rates them). Spend countless hours on boards like this. Subscribe to a dozen or more guru/mentor offerings and listen/read them. Spend thousands of hours watching the market (and your dwindling account balance). Then, when you are on the verge of concluding that trading profits are an illusion, change you modus operandi as follows: Watch each session closely for your preferred entry signals; when they occur, enter the trade - BUT IN THE OPPOSITE DIRECTION TO THAT INDICATED - Grit your teeth; close your eyes if you have to; BUT DO IT. :eek: BINGO !!! I used to spend hours looking at columns of red buttons (on Button Trader) immediately after each entry - at least 8 ticks on practically every ES trade - before either being stopped or having things begin to move in my favour. Now? Green buttons immediately - pretty well every time - at least 7 of them - that's allowing for a 1 tick spread of course - just to be fair! Sometimes, when I'm quick-witted enough to move my bracket target, they just run right off the damn screen !! - It's pure magic. At 6-10 trades per day; that's 10-15 ES points X contracts traded - its a doddle. Taking candy from a baby. Just can't figure out why someone hadn't explained it to me before - Something to do with psychology I guess.
Nimrod, that was a good one. I needed a good laugh today. You know, sometimes it sure feels that way. Just like George Costanza, "if everything i do is wrong, then the opposite must be right" "Who are you George Costanza" "I'm the opposite of every man you've ever met" Good luck Nimrod, hope things improve.
Well... if he consistently wins, then he becomes a winner. Would you fade a winner???? BTW, I hear you are in the DC area. We should hook up and talk shop some time.
Ignore those fools that say, what happens when it quits working for you? Well it never does for me....
I have discovered a serious problem with my 'Trade opposite your signals' method: Over the sort of period originally suggested, and despite a dwindling account balance, the fact is that anyone who seriously applies himself should improve performance, particularly on intra-day price/volume action interpretation - even if only to the extent of slowing losses. Assuming that improvement continues beyond the 'break-even' performance point ...... See what I mean? It's amazing. As soon as you find something that works - things change