Hi all, I would like to start by saying that I am not a veteran trader and have just started trading ES after almost 5 years of research (part-time). So there you are, please don't slam too much In my opinion, which is based on applying various trading strategies and hours of observing and reading, I have come to a conclusion that daytrading something like ES is quite possible, but as a few experienced traders have mentioned in their posts, is not for all. In this post I would like to discuss the very basic analyses of trading. My main understaing why it does not work for the majority of people who pursue the job of a daytrader is because they do not understand, that if their strategy is based on formulas designed by others, they have to keep in mind that floor traders and other major participants in the electronic trading know pretty much all well established analyses, therefore making it quite easy to squeeze the novice/scalper trader, whose stop losses are in the region of 2-3 points (assuming ES) away from entry. I have paper traded for a long time now and have seen it happen so many times, when my "predicted" general direction is correct for the day, but stop losses have been triggered before you get a chance to reach your "goal". That is why I agree with other posters, that if your capitalization is inedequite, stay clear of futures.