You are right, austinp. It seems I can make decent money trading ER couple of days per week but the rest of the days are usually a disaster. Why didn't I realize this sooner?
Hi IS, I know that I said goodbye, but this is just too painful to watch. I said much earlier in this thread that whether you realize it or not you are offering yourself the luxury of having no losing days. Obviously that one fell upon deaf or dumb ears. Osorico offered up .... 1 ... protect your capital 2 ... grow your account. He represents the voice of sanity. I imagine that you have fallen into the chartist´s trap of falling in love with your own entry signal while ignoring the other 99% of trading that really counts. My advice to you is start thinking like a trader and stop behaving like an analyst. If you think that this is harsh, then you should have served under my rugby coach. "Embrace the joys of the noble sport after you have won" he said. "If the opposition are tough, then lay down your life and be tougher, he said. If the opposition are weak, then hammer them so that all will remember, But above all, never ever give me less than 110%" 110% is way beyond 6 on your scale IS. regards f9
Very good point, f9. I admit I have some serious psychology issues I need to resolve, if I want to succeed.
Finally a decent day. Traded much less, took only perfect setups, no impulse trading today. All ER2 trades were made in premarket. I'm finishing early in order to book much needed gains. Products traded: ES, ER2 Contracts: 29 Opening balance: 829 Closing balance: 1121 Net P/L: 292 Discipline: 5
Hi IS, Dont try to take the whole trading thing too seriously, but rather just relax back into it. Easier said than done I know. Bear in mind that the bulk of the business is done by a small number of stations and that the person on your other side is statistically a big player. This does not mean that one of you is right/wrong. You will never know what the other side is up to. It simply means that one of you is buying and the other is offloading. Train yourself to think in terms of risk and accumulation. Always put risk first since there are ample opportunities to enter the market each day, but each is attended with it´s own risk. You take only the trades within your risk limit and not a single tic more. regards f9
In other words, if you traditionally hunt deer and then you decide to hunt lion, your risk model will need some keen adjustment before you start. regards f9
I was considering doing the same this as IS. I'm thinking about starting off with about $1K and seeing if I can build from there. The only difference is that I am looking into building some automated systems in tradestation to actually execute my strategies. This will eliminate my impulse trades and emotions. I really do think it is possible to turn $1K into a large amount with futures, but I know from past experiences it is very hard.
I understand once you disclouse them /entries/ the general public/ big funds included/ will step right in and start using them which in turn will make them stop from being productive? I hope you've noticed that even you dont follow them religiuously yourself/giving yourself low notes on discipline/ and you assume the general public will.. funny..but hey, maybe I'm wrong and there are other 'obvious' reasons?