Trading For Living - S&P 500 Market.

Didn't know that EliteTrader forum is full of funny guys

 

The Advance-Decline I use is specifically the Advance-Decline Issues, not
the Advance-Decline Volume or any other name. It's a chart in 5 mins time interval.

 

Thanks, Will check it out.

 

So how are you determining your stop loss?

Points/-%/support and resistance, etc

The markets are having some huge swings daily.

 

Making a living on 2 handles, do you live in a box or trade 50 cars?

 

Hey, if you can get 2 points a trade consistently with a minimum of drawdowns or "operator error" (ie being greedy or poor money management) that'd be fine for me as a daily intake provided I have no extraneous debts hanging over my head or am frivilous with my personal budgeting and spending habits.

I wouldn't need to trade 50 contracts at a time to make decent money off a consistent 2 points on the ES.....come to think of it, I'm not sure I'd want to trade that many!

Think about it -- commissions aside, 8 contracts = $800/trade which isn't bad if you can do it regularly. If you trade 10-lots, that's $1000/day. And so on.

Bottom line is that as long as whatever she's doing is consistent, properly managed, and works acceptably for her and provides her the desired profits in a manner she can trade well and sleep soundly at night afterwards, I say GO FOR IT!

Of course, the trick is to ensure you don't blow the winning trade by consistently making bad ones.

 

Stop loss is 6 points I like to give the market a room to breathe and it's working fine for me since losers are like 1 loser every 2 months.. so consistency is the key here

In normal days I trade to win 2 points, since it's consistent I am happy. Now it's a number of increasing contracts..

On the other hand, if you checked the screen shots I capture big moves 1 or 2 times a month and earn about 10-20 pts in a single trade.

Anyway, as rickf mentioned it's about consistency.

You know how easy it is to make 5 or 7 points and lose them the other day.

 

Hey Trading4Living,

I admire your patience and performance. 2 to 3 days between trades? LOL, I can typically go 2 to 3 hours. After that I begin to get the shakes.

Looking forward to reading your thread.....

 

Nice, you're smart AND hot. Can you post a pic?

 

Thanks, I will post my trades, entry and exit prices as I trade.

I learned that keepin it safe and earn consistent profits every week is much better than trading every day and risk my profits.

at least I feel better and less stressed this way ;-)