Trade ES or YM for a Living

Discussion in 'Index Futures' started by increasenow, Apr 25, 2007.

  1. Boib


    Care to elaborate?
    #31     Apr 26, 2007
  2. Well said CM. Now it's just a matter of finding those few setups that constantly produce!
    #32     Apr 26, 2007
  3. I find gut feelings work best for me :).
    #33     Apr 26, 2007
  4. rcj

    rcj STILL working on this.
    #34     Apr 26, 2007
  5. I think whether we're aware of it or not, there is always a gut feeling in the back of our minds. I'm no psychologist, but I'd say that gut feelings are what produce confidence, at least to some degree.

    For the trader who scalps off the t&s screen to the position trader, they're trading off historic data no matter how recent. Very rarely is there that trade that appears flawless..the gut feeling allows us to jump in and make the trade work.

    #35     Apr 26, 2007
  6. That wont last. Trust me :(
    #36     Apr 26, 2007
  7. jd7419


    Hey Boib

    I am a tape reader. I think its hard to teach someone else to trade. The one year 2006 where I had the chance to train 2 traders I lost money. It was a distraction to my trading and to be honest I have alot of respect for traders who can train others to be succesful.

    Anyway beyond tape reading I chart the a/d line, $trin, and $tick. Nothing special there. Basically I dont use stops but always have my fingers on the sell key. I tend to get out of postions very fast if not shown a profit relatively quickly. I assume I am wrong on every trade I make and am happily surprised when I'm right. Most days I make over 100 trades with the majority of them having small losses. The winners tend to be larger and I will average up into a winning postion.

    An example today would be aapl. I shorted 1000 on the open and once it started breaking down shorted another 1500. This trade netted about $3500. I pieced out of the position as it started falling quickly. I also had some good trades in the oih, and I had some small losers in the es, ym, cfc, slb, lend, fmt, and goog. I hope this is a little more elaborative.
    #37     Apr 26, 2007
  8. Why not? I've traded since 1994 and rarely have a negative month. I have a set of risk management rules that I rely on, the entry is almost purely intuition. Technical studies to me is just a way of reinforcing your beliefs about the markets that your trading.
    #38     Apr 26, 2007
  9. jd, i totally agree about limiting losses.

    professional mindset and extreme discipline are very important

    i have found that teaching has IMPROVED my trading, but that is a way we are different

    90% of futures traders lose money

    they provide the liquidity that gives us a living
    #39     Apr 26, 2007
  10. Boib


    Very elaborative.

    I use the same internals with different results or maybe not as I managed to take some small losses in the YM today.

    I only trade the one instrument. I'd trade all those others but I have trouble walking and chewing gum. :D

    Thanks, appreciate the answer.
    #40     Apr 26, 2007