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That's approx. $13 net per trade. To be perfectly honest - that sounds like an awful lot of work. Have you considered reducing your number of trades and simply being more selective, i.e., reduce your losses and increase your winners? Maybe you enjoy this style of trading and it works for...

I don't have an edge, so I like to take my money and run when I get lucky. :) No, seriously. What you say is of course completely true, however, I don't think it's that easy either. As a discretionary trader - one could argue that it's hard to sustain top performance/discipline over an entire...

For what it's worth, and that may not be much, I'm trading a scalping strategy myself now in a separate account. With the current volatility I'm targeting 3 points per day x 5 contracts. That's my goal for the day. I will take that with 1 or 2 trades (2 x 1,5). Today, I took 3 trades. 1 x...

I'm curious... With 57 trades - what was your net profit at the end of the day? It seems like an extremely high volume for a retail trader. I've seen you quote similar numbers in the past. Are you doing a lot of B/E / scalp trades?

Lock in 3 points now for beer money / dinner. Ride it to 40/50 if we clear 20 on this leg up. You're welcome. :)

That pop came a bit too soon/fast, so better use a fairly tight stop.

Long above 4310 from here (today). Waiting first for a test of 4290 if not.

I briefly talked to a trader who would simply target 1 points on ES with 30-50 contracts and call it a day. He had < 5 losing days per year and made a good living doing this over a long time period. What @tiddlywinks is describing is top level expert play where you're trying to maximize what...

NQ broke last week's low and leading lower. ES lagging behind a bit, but looking heavy from here.

Met my current girlfriend at a cafe five years ago. It was not a cafe she used to frequent and I was not planning to go there myself that day, but we both did and ended up getting together. The jury is still out on whether that was bad or good luck. :)

Well, I never said they built their fortunes and businesses on luck alone. Even Bezos himself says he's had a lot of luck along the way. :) But there's a lot of survivorship bias in these numbers. The ones who made similar risks and efforts, i.e., quitting their jobs, working day and night for...

Generally, there's an inverse relationship between win rate/stop size, i.e., small losses = lower winrate and vice versa. Tight stops require relatively large winners in order to offset all the small losses (which do add up). Larger stops should increase your win rate, but once in a while (or...

If I may, I'll make one distinction between trading (and day trading in particular) and people who got rich through other means or made inventions. There's a great deal of luck involved. And the margin of error is probably bigger. Day trading in particular is the one field where if your method...

Regarding smug bulls with fat pockets who believe the market only have one direction - I actually warned someone I know who was asking for advice about going all in with a lump sum a month back. I told him that I won't attempt to predict the market, but that statistically, September is the...

I have no idea... Crashes are by definition unpredictable as far as I can tell, so I won't even go there. Statistically, September is one of the weakest month of the year, so that went as expected. Compared with last year, though, this September closed at the very low. It should be interesting...

Timely to review this post. Turns out September was an Outside Month this year, too. Compared with last year this year's September closed at the low.

Everyone's conditioned to buying dips by now. I imagine a few people must have been hurt on these last few trend days down.

Good call. :cool: Closing in on last week's RTH low @ 4293.75.

FWIW, the last trading day of September closed positive net the last 4/5 times. So there's a positive bias on that basis alone. Doesn't mean we can't dip lower first even if this bias turns out correct, of course.

Definitely downward pressure on higher time frames, so long here is counter trend.