Who is losing money day trading Emini S&P 500

Discussion in 'Index Futures' started by emg, Dec 13, 2010.

  1. Pekelo

    Pekelo

    Let's not exaggerate shall we? He is so clever that couldn't even figure out how to post a real poll. Not to mention after a week he isn't really interested in a discussion.

    We advised him in the ES Journal how to actually use his system up to its potential, instead of thanking us he is still making 4-5 ES pts PER MONTH. In a good month.

    And I won't even mention his long term call of 500 ES by next Spring, what is usually followed by him going long....

    Some clever individual, in deed....
     
    #11     Dec 20, 2010
  2. plyka

    plyka

    Regarding stops, I've come to the conclusion that stops are NOT the way to go regarding successful trading. I don't really subscribe to the "they know where the stops are and will come after them nonsense." Believe me, I've tried a bunch of those setting up a stop for 1 lot, waiting for it to get there in order to buy 5 lots, lol. It never works. I just think that the markets are made, logically, for most to lose and a few to win. This is why it's so lucrative. For this to happen, people MUST be shaken out of their positions. And the markets swing to a certain level and take out those stops.

    Thus far my best performances have come without using stops. I still will sell when the price gets to my mental stop, but it really depends on the price action. I give it a little leeway. After the intitial price move, assuming it goes in my direction, i will move my mental stop to my entry level. But too many times, i've moved a real stop in at my entry level, only for it to come back down and clip the stop to only go higher. Very few if ever, has it collapsed through my stop without me being there to sell my position. Usually if the move has energy on the downside, you'll see it. With a technical stop in, no one is there to make the decision whether the move against your position is for real or not.

    I notice that only when I am flustered emotionally do i put in a real technical stop now. I purchased gold at $1354, added to it multip times up to $1385, and had a MONSTER position at $1363 average price on the Feb11 contract. It flew all the way to $1430 and I was feeling good, had the position over a month, started to collapse back down. After a month or more of sweating the position out, gold had collapsed back down to $1370 or so taking all my profits with it. The last day, i just got tired of it and swayed from my typical routine of watching it and deciding whether to sell or not based on my own decision and just put the stop in at $1363. Well, the sucker came down and clipped $1363 a few weeks ago, it seriously went a dollar or two under that level before turning back up. I basically lost my position because I emotionally gave up and put a real stop in. Now it's jumped back up to $1406. Luckily, I re-entered a position at $1383, but still, if i had stuck to my usual routine this never would have been an issue and I'd still be holding my original position.

    Anyway, sorry for the long post...basically real stops are overhyped in the trading community, and i think they do more damage than good. It's always better to always be around the PC at crucial points and make the decision yoruself.
     
    #12     Dec 28, 2010
  3. Size. You can't trade a 200 lot on ER2.

    Yes some ppl trade that size + its not as flaky as less liquid products.

     
    #13     Dec 28, 2010
  4. What is your answer to the above?
     
    #14     Jun 11, 2011
  5. Lucias

    Lucias

    I've been losing money recently, although I'm historically very profitable. I've been losing due to my system functioning below normal and also my discretionary trades. I'm typically trading the morning session. I don't have ability to do real day trading. So I take 1 trade per day. I've found that I typically will place a trade by 11 AM and hold until the close. I've recently started losing money because I've been trying to pick intraday reversals. Entering around lunch time and focusing s&r and not my market read.

    I've made it a goal to focus on trading the times when I'm stronger and use my strong market read. Only taking other trades at smaller size until I get them down.

    I'll get back on top of this. (technically im not trading es but a correlate)

    I agree about the stops. I only use castraphic stops. I quit using stops years ago and my performance soared. However, I will be quick to exit a trade if I know I'm wrong. However, I'm trading spreads now so I don't need stops. But, my new risk is my contract expires at end-of-day. This has caused me a lot of difficulties too. I don't hold more then 2 days, very rarely, but the 4:15 cutoff is disadvantageous for me.


     
    #15     Jun 15, 2011
  6. emg

    emg

    #1) trading with stops. Small traders need to trade with stop because they don't have capital.

    #2) subscribing 3rd party educational and system vendors. Because the vendors are not regulated by the gov, vendors can do, say, and write whatever they want. For example, they can place a banner "how to make $5000 per day guarantee" These vendors are not traders but a salesmen/women. They can cheat and lie whenever and whatever they want. It is legal

    #3) I bet majority of newbies have no clue what is futures market and how the system works. I bet they don't even know what is CME
     
    #16     Jun 15, 2011
  7. Not me anymore!
     
    #17     Nov 12, 2011
  8. maxpi

    maxpi

    Take only trades with the trend. Learn some technical setup that is profitable, then learn to settle for a lot less $ by taking only the most cherry picked trades. That will make for less trades, less work, less uncertaintly and stress.. trying to optimize our income is what ruins us, learning to just cherry pick and have enough $ to support the family with low stress will allow you to dance with your wife, play with your kids, enjoy a hobby, etc...
     
    #18     Nov 12, 2011
    hurricane_sh likes this.
  9. trendy

    trendy

    and post 6000+ times on ET. :p
     
    #19     Nov 12, 2011
  10. emg

    emg

    Don't forget folks

    More than 90% of small traders lose! They just lose!


    Keep reloading your accounts until u are deadbroke!
     
    #20     Nov 14, 2011