Recent content by dvst8

+ 1

Great post NoBias.

Save up for the 25k and trade what you're good at. Don't repeat your past.

The ES daily range is about 10-15 points now. We see 20 points now and then. 40+ points are rare and usually occur market crashes, disasters, etc.... Premarket starts 630-7am pst. Market is usually volatile around those times. There are usually reports at 7am. You can refer to this calendar...

I wouldn't say I have an edge either. What I do have is discipline and able to manage my risk. Preserving capital allows you to stick around longer to place those 'lucky' trades.

1-2 points a day on the ES is reasonable on 1 contract. If you could do that on a daily basis, you're moving in the right direction.

If I had to do it all again. I would find a mentor, trainer or someone to monitor your learning process.

Nothing wrong with Ego. You holding on to losing trades tells me that your strategy isn't working or you're not following it. Once you discover what works for you, channel your ego towards that.

There is a difference between Trading and gambling. Its gambling only when your odds are against you. Its trading when your odds in your favour. The means trading only when you're suppose to. Casinos are a perfect example. Casinos know their odds and take profits everyday. They are...

The harder you work, the luckier you'll get.

I've found that when predicting price it creates an expectation that forces me to prove that I have to be right. I wouldn't say predicting is wrong but a huge part of human psychology. What I've found to work is to wait for the break out and trade the retrace. The market tends to move...

Agreed, False moves are common. Thats when screen time and experience is important. Using two S/R breaks is a good starting point especially if you're trading shorter term charts (For me its 3min,5min)

I've been trading for about 6.5 years. I also have a day job so only trade the morning ES sessions. So I only logged about 6240 +/- hours(20 hours/week). At this point, I've reached some consistency and learned to fully manage my risk. So risk first, profits later. Its been a long journey...

Keep it simple. I removed all technical indicators from my chart. Follow price only. Never predict price. That means waiting for the break of support and resistance and getting in on the retracement.

Seriously take this advice.