First Trade Secret REVEALED!!!!!! You will want to print this out and stick it on your terminal. The E-mini S&P 500 Futures contract has a average daily range of about roughly 10-12 points. On rally days its 15-20 points. Thats It!!!!!!!!! So, I may have to hold on and ride this one out until I can move my stop further to break-even. That's what pro's do. Trading is discipline 1st, and strategy 2nd. Stay tunned......this afternoon I will reveal Trade secret #2.
Hi T-REX, Just curious, at what point do you decide to begin moving your trailing stop down toward your B/E? Do you do it in gradual decrements or at-once as price moves below 1004.75? Thanks, and looking forward to your further insights. Kermit
No, in order to stay disciplined you must not move your stop loss period! The only time you move your stop-loss is when the market has moved at least 3 points in your favor. Then you move your stop. NOTE: You have 2 choices One: get out! & take profit. Two: move the stop-loss to break-even. Thanks Great question.
one day or one trade doesn't mean anything, you can have 10 consecutive loosing trades and still have good profitable system. Can you be disciplined enough to stay with it. That's what separates novice from Pro. good trading.
A chicken will enter a burning barn with little or no regard for its current reality. A novice will "CHURN" his/herself until they "BLOW UP" there account. What is the definition of insanity? Continuing the same action looking for a different result. If your system losses 10 trades in a row......IT DOESNT WORK!!! The premise is FLAWED! The reason that most people lose is because they dont have a robust system based on realistic premise. The true "Holy Grail" is attainable to "ALL" traders........a system that is realible in multiple time frames, and trending & nontrending market conditions.........PERIOD!!!
Yup! Stay tunned this afternoon for secret #2 and a brief synopsis of today's trading along with the rules.