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Good comment. But a newer trader can not let a trade run forever. the trader has to know when to exit. The OP is trading 1 contract which is hard. so letting that one contract run is emotional cause in back of head the trader has not made any money. Ideally the trader should use 2 or more...

Mirah, I been trading paper for about 1.5 years on and off when I have time from my full time job. For the past 6 months, i trade everyday paper diligently. And I will continue until I prove I have high probability system to make consistence money. I do not follow technical indicators, just...

masterm1ne, I believe this will help you. Your problem is you are starring at the DOM (money), rather then the chart while you are in a trade. Once you enter a trade, you thinking about 100 reasons to exit the trade and 99 of the reasons is related to losing money. You have these problems...

bone, I agree. Taking a loss is part of the job description as trader.

victorycountry In the heat of the moment, market volatility does not matter at all. You enter the trade and wait to take action. A trader is successful rather the trade makes money or not on the trade. A trader is unsuccessful if enter or exit the trade unplanned or with emotional reasoning...

Thanks bone, I can respect comments because they are from experience. Great write up. I admit to the "just "wing" trade management - it's a case-by-case gut call. " Would you agree that most newbies simply don't know how to develop a proven trade management plan that is repeatable? Thanks

bone, Please explain why you disagree and please explain how I give to much credit to my fellow human beings. Thank you

recession2016, Risk management is not an edge, its just monitoring your money. Anyone can or will eventually learn this after enough losses or wins. Edge in trading is what makes my trading system create less losses and more wins technically. Edge is what makes this trade I am about to take...

The thought process is where do I enter the trade, where will I exit the trade if I am losing money, and where will I exit the trade if I am making money. A profitable or losing trade is consider successful if the trade is take per some set of rules, plan, or any reason before you take the...

This is comment Spectre2007 and I learning this now. When you get a winner, know how to manage it and be patience, cause you make more money this way and build confidence.

Hello, I trade the CL and ES intraday on the central time zone. What is the best timeframe to calculate pivot points R3,R2.R1,PP,S1,S2,S3 if I trade during day time hours only from open bell to close bell. Lately, I been using the high, close, and low during day trading ES (8:30 AM CT to...

Thank you so much Handle123, You are honest, but you are right. You nailed me down pretty good. I appreciate your honest and but its what I needed to hear to have a profitable trading business going forward. You right, taking time and money away from family is not the goal, so I better...

Hello, You can definetly win in trading, but it will take, time, trial and error, passion for trading, the will to achieve, understand probability, investing in your knowledge, seeking the right help from a professional trader, understanding how other make money trading, and lots of study...

Thank you Xela, Good explanation. No I don't have have a back test facility. I have to do it all myself via forward testing. It will take a few months buts it's the only way I can verify it. Thanks

Thank you so much Xela, You gave good advice and you are correct the only way to know which one trademanagement or risk vs reward is better then the other is to test both. So, for the next 300 or more trades I will compare both outcomes on my spreadsheet. This will be forward testing. Is...

Hello, I trade the ES. When I back tested for over 6 months on sim, i used up to 2 pts stop loss with profit target of 4pts, for 2:1 risk vs reward. 2 contracts. Risk $200 to make $400. Butttt when I went live with real money, something change, where I started taking 2pts on the 1st contract...

Handle123, I 100% agree with everything you said above. Knowing when to trade a signal is just as important as ignoring the losers if you have taken them per system rules.

I trade the ES Daily to obtain 4pts. Starting this week, i will try my strategy on the CL market to see how it performs. The ES does have its trending days, but after 3 years of watching it, it does take some experience with seeing the price movement.

I practice trading the ES this way as well.

Overnight, Common sense and simplicity trumps everything. Just like economic data release trumps any system setups. Why risk my hard earn real money in a market with millionaire traders and billionaire businesses with far experience then me and computerized systems, when have no proven system...