I was frustrated to the point of quiting - then got lucky, and now have consitent profits - yes, there are a couple "bad" days - but not very bad and every week averages out to be very profitable I "knew" there was a way - I just ahd to believe long enough to be lead to it! Don't get frustrated anymore Happy Holidays
I've had a good year but today was a bad day. I trade OEX options and the spread just ate me up today as I poorly managed a trade. On bad days I always end up asking myself if my past success was due to ability or just plain luck.
I started trading the e-mini's in april this year and have been in some deep holes before i finally made it to profitablity, but i think you should bother, because you can't rely on a strategy that only works under certain market conditions. I have no idea where this market is heading, i really don't care. i know that i trade a setup, that occurs 10/20 times a day, regardless of direction. That was my aim when i started trading, to find something, that would work under all conditions in various markets. The only thing i need to work on right now is execution, which really is my weak spot, i close a lot of trades at BE right before they reach their profit target So once again, i think you should bother, because the market conditions you wish, might not be coming back for even 5 to 10 years, who knows. You don't want to wait that long, do you?
lends itself to caution...fwiw im reducing size, sticking to the "A" trades, not reaching too far and most importantly TAKING WHAT THE MARKET GIVES. good trading-GR
ditch, ever notice? When we are in a trade, we always expect the market to reverse. When it gets close to our stop, we hang on because we think it will turn, but when it moves in our favor, we cut it short because we think it will turn.
Man, i've done that and do that still so often. I've been working like hell to improve my entries and think that right now about 80% would hit my profit target, if i just would give it the room it needs. my last trade last night was a perfect example of what i'm still doing wrong. right before it would hit my target (4 pts) i exited.
"ditch, ever notice? When we are in a trade, we always expect the market to reverse. When it gets close to our stop, " That used to be the other side of my problem - getting close to an exit and reversing - then watching it go to my stop!! Now I just follow signals as they appear on my screen - no charts to see- so it really doesn't effect me any more. Great way to eliminate "mood swings" Happy Holidays marielle766@juno.com
I have just answered this in another thread with a totally different subject but I think it has to do also with this tread so I permit myself to just copy and paste an extract: "By time rationality will conduct to increase mechanical and individual traders will have more and more difficult life against that. Until now this wasn't possible since it wasn't electronic. In France many pit traders have to give up their job when electronic came. As they were essentially scalpers and as electronic made things more illiquid at this scale of trading, they were washed out: they don't need them any more. I think this will be generalised in upper scale. They will change the rule so that more capital, more systematic trading will be needed to survive. I don't think many traders foresee that because it will take a few years. "