Sidelines good then. Bruce Kovner in Mkt Wizards said undertrade, undertrade, undertrade. Whatever you think your position ought to be, cut it at least in half." (so you can be ready and capitalized for the big setup and not waste time on the minor ones). Today shorts to 82-83, although I suspect 95 will put up a fight. Cap at 1400.
I find it amazing that this kid had to lose 14k before trying a Sim account. Must come from money to piss it away like that. 14k is a lot of dough.
Blow up curve. It's kind of sad. Most advice here is to try sim before going live. Even though I had strategies, I still wanted to do a month of sim before going live. I knew if I was up more than 30% in the sim it was going to work out. Masterm, consider moving your account to PFG Best, and doing a 30 day sim after you develop your strategy.
You should read all of my posts before making stupid assumptions. By the way I've lost around $50k total. I don't "come from money" at all, all of that was money I earned working. That means the lessons I've learned are even more valuable. When I sim traded, I turned $50k sim accounts into $300k-$500k in one night many many times.... didn't really know what I was doing sim trading the first time, that's why I'm going back. I didn't fully appreicate what I should have been doing until rather recently. It's difficult as any trader knows to really find the music when there is so much noise out there. As a sidenote, I have ~$30,000 sitting between my broker and my banks, and I have a regular job. Am I rich? Nope. Do I NEED more money? Nope. Do I pinch every penny? Yes. Do I have expensive business expenses. Yes.
Today's price action was very predictable... I had all these lines drawn on my charts since yesterday. After viewing how the price reacted off of the points with the most confluence that the market could easily reach, you could have made several solid trades using multiple time frames and PA.
Once again, had these 3 trend lines way before today's trading. Amazing what you can see once your mind is becomes less blind. Of course, couldn't take any of these trades.... Perfect buy signal @ 830 today Same thing could have been traded after ~1362 level failed.
Haven't made a post in a while... however, price action has been very obedient to downtrend channel lines. Here's what I saw today. Today was a little harder to interpret than the previous week or so. For tomorrow:
Forgot to add, as we are coming into longer term resistance now, it's likely good to sell any longs around 1309.
Short 1313 x 1 ESM2 I just noticed how many times 1395/96 has served as S/R. Haven't had much time to post the past couple of days. There was at least 1 very good long today after price confirmed this level today. Stop 1317, PT 1300.