The 1 ES Point REALITY

or, 10 YM points

 

because ES volume is so "thick"...easily can throw 50-250 cars at it and it not slip...hence...1 ES point X's 50-250 cars...we'll, you can do the math...1 ES point is awesome!

 

I'm sure you are looking forward to the day you can get that point

 

y'know i love traders with attitudes like this

this is why technical analysis works, and trading can be so lucrative

one reason: retail traders who think they have it all figured out, and who care more about how much they can make, than in controlling risk and making positive expectancy moves

 

no, I do not think I know it all, at ALL...but I am very serious about the 1 ES point reality...hey, you said, Technical analysis works, what indicators do you use?...yes, looking forward to the day when I can throw 500 cars at the ES...this is all serious...

 

i don't use any indicators in the sense of lagging/derived indicators (MACD, RSI, stochastics, etc.)

my trading is based on market internals (TRIN, TICK), intermarket relationships (dow to bonds to key sectors), market profile, and pure price action (tape reading and chart support and resistance)

i have trained a fair # of traders. few things are more poisonous than seeking to get rich without concentrating on RISK.

it doesn't matter if you can get 1 point (or 10 pts a day). it matters if you can do that with MINIMAL RISK

define your risk, your business plan, etc.

 

5 months, 300 posts and still the same garbage.

If you think 1 ES pt per day is achievable then why don't you just go ahead and do it already rather then talking about it ad nauseum?

 

The problem is in definition of this thread. The more proper name should have been “1 or more ES points on average per day”.

Is it doable? Absolutely, but very hard. I would say only top 1 percent can do it consistently and as a result gradually increase their size to 100+ cars.

There will be crappy days, with small losses, and the key is to keep them small. Then days where 10+ points are made would come.

Also it is very important not to blind yourself with all wonderful things that can be bought once 100 contracts level achieved.

First, master demo, then 1 contract for a VERY VERY long time, and after margin is doubled, add another contract. Then after making 50% of the doubled account add another contract and so on (I am talking about intra day trading only).

Regards,
redduke

 

thanks...the insight is very helpful...

 

great post south seas...Trading Rules:
*FOCUS!!!
*focus on one market (YM,ES etc.)
*focus on one time frame (trade the moring hour or afternoon etc.)
*focus on one indicator or non inidcator method (TA, price action, MACD, CCI etc.)
*focus on one chart period (1,5,10 etc.)
*Goals...know how many points you want per day and then leverage towards what you want $$ per day...REMEMBER..."goals bring gold"...go for it!!!...these are my opinions