I've got a secret. I've got a secret. I've got a secret. Nyaah nyaah nyaah. So damn childish. He has no secret. He's just trying to learn something from the replies.
That's OK. Lots of people do it. Very rarely does someone start a thread because they've mastered something and want to share it with anonymous posters on a public bulletin board.
Is this the place?... Someone left me an anonymous message that there was a top secret, "for your eyes only", 4 rules of trading, here. please sir, may I have some.
Let's do the maths. $5000, 1-3 contracts of NQ, 5-20 points=$100-$1200. Yes, "cutting it awfully close" are the right words. To me, they mean avoiding the 4 mistakes. There is not much room for mistakes. But people make mistakes all the time. I have a legal pad in front me, everytime I made a mistake, I would write it down. During a trading day, I would write down at least 5 mistakes. Every mistake costs money, including loss of opportunities=money that should have been made. My exit is not based on fixed stoploss, but price action. This is also where a common mistake happens due to the deliberate lack of a fixed stoploss.
Anek, I believe what you said, because I did it on paper myself, only in one direction, because I longed QID only. As you have a lot of experience in QQQQ, you must know that QID moves the identical length as NQ does in a down trend. I cent of QID (500 shares) equals 1 tick of NQ (1 contract). I still carry the old habit with me to NQ and predominantly trade NQ down trend. I have a deep suspicion of any up trend (which is of course wrong. I know an up trend is an up trend is an up trend). By the way, how did you deal with discipline problem years ago? I seem to have a tremendous amount of trouble controlling myself.
Umm, 12 days ago your i-quit-trading thread said this: So I have decided that trading is not for me. I quit! I will not trade anymore! I don't want to spend several more years doing this (I heard it needs 5 years, too long for me). How did you suddenly become an expert?
4, I have not traded the Qs or QID in years so I'm afraid I'm not apt to comment on them anymore. As far as discipline we have a pretty prosaic rule that only works for males. It's very simple, break a cardinal trading rule and your punishment is to squeeze your balls until you cry. No joke, that's the rule. It works. Anek
I have always been an expert, it's the discipline that I lack. I firmly believe that my trading method is far superior to yours. During the past year, I modified my method every day, sometimes several times each day. As a result, I have a method that every new trader would kill to know. But given your attitude toward me, I doubt I will tell you. You may spend another few years searching for a method.