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why do people use percentages when talking about day trading? its irrelevant. if im at a prop firm with millions in buying power but use various amount of that buying power each day how does % fit in to any attempt to measure performance? revenue per share capture is more appropriate.

he is a walking contradiction. he will always say a bear channel is a bull flag for example, then when a buy setup comes he says, dont buy against a channel. or better to wait for a break out pullback, then the break out pull comes and he'll say, wait, the bears want this, the bulls want that...

fascinating. and i can certainly relate from a trading perspective on the near miss phenomena. the main point id like to drive home is that there is psychological defects happening with a lot of "learning" traders that they are not aware of.

Intermittent Reinforcement Definition: Intermittent Reinforcement - Intermittent Reinforcement is when rules, rewards or personal boundaries are handed out or enforced inconsistently and occasionally. This usually encourages another person to keep pushing until they get what they want from...

I know you mentioned you wanted to swing trade so why bother with futures at all? I can understand if you were intraday trading and wanted high leverage and perhaps wanted to avoid the PDT rule with equities if you had a smaller budget but if you want to swing trade then i cant think of any...

I totally agree. Luck, timing, stumbling upon the right person/mentor, family that steers you in the right direction, personality traits you are born with. All of this stuff is massively important and is out of your control. What if I started trading in '01, joined a prop firm like echo...

generally, on the index's ym or es 4 pt target (16ticks es, 40 ticks ym), 4 pt stop. or the equivalent on NQ

right, what i meant by high confidence, is i believed the setup to have about a 65% chance or better of hitting my target before my stop loss. but just as in poker, you still lose a lot of hands that you are 65% favored to win. the better way would be to trade equities, find a couple high...

J.C. Penney CEO's pay slashed as company struggles By James O'Toole @CNNMoney April 2, 2013: 6:47 PM ET NEW YORK (CNNMoney) J.C. Penney had a rough 2012, and it was reflected in Ron Johnson's paycheck. The department-store chain revealed Tuesday that Johnson, its CEO, received a total of...

i would bet anything you are not a profitable trader. you are defending your hopeful dreams, i can tell by the tone in your messages. its ok. some day you'll capitulate. and you're on ignore so, you can stop resonding, i wont see it.

yeah, it sucks because i have zero doubt al is a smart guy. no doubt at all. but smart in how to make money as a guru or smart trader making a lot of money trading? it appears to be the former. traders that are making a lot of money trading and just happen to also want 'to help people' as he...

you obviously ignored dustins recommendation.

right, like dustin said. find a niche, a setup, an edge, whatever you want to call it, then find it happening in 20 stocks, spread your risk and things will work out sooooo much smoother, theoretically. trading futures, of course i had setups that i had really high confidence in, but the...

she has. i'll agree with that. and i give her all the credit in the world about that. ive thanked her for that.

damn it! im so pissed I ever touched a futures contract. I really am. Trading futures is like competing with walmart on prices.

no im just playing, she posts too much to be al brooks. he is busy talking in his chat room and calling his exits. "just took off the rest at 4 pts"

yeah, i mean, if i went months without losing, shoot, stupid or not, id be ramping up size very very quickly as my confidence would be in the stratosphere. you guys dont think nodoji is al brooks do you? could that be possible?

wow, thats really sad. i didnt know the market allowed for no losing days. that would mean you had some kind of super duper edge that the smartest people in the world with the deepest pockets and access to the fastest technology weren't smart enough to have. But right here on ET, it actually...

Thanks dustin, you're the best. I'm mentally processing your post.. Thanks. BTW, your post is a lot less grim than ericp's. :p ps. funny story. back in the day, years ago i had a tiny ameritrade account with 3k in it. i decided i was going to just look for stocks that gapped up big...

Thanks for your response eric, i find it interesting your point about perhaps leaving the business in the next couple years. But a more interesting point you made is how you are completely automated but I suppose you use discretion on when to actual run you trading programs. So it seems...