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with all due respect, i don't buy it. many traders can't stand to admit that THEY can't trade well, so it's the market makers fault, the brokers faults, etc. similarly, the same thing in poker - "it's rigged" bla bla bla whatEver i compiled many thousands of hands. i won CONSISTENTLY...

""1) I knew that it would take me a very long time and a lot of energy before I was able to beat the experience of the Pros."" most of the people playing $5-20 sit and go's aren't pros. also, like i said, my #1 edge component was studying my OPPONENTS. trust me. there are some weakass...

"The House always makes out best. No risk and all rake. There are some professionals who make money (they have the Edge), and almost all novices lose everything they have. The whole game revolves around the proposition that there is a Sucker Born Every Minute - which is as true today as is was...

some points 1) just because one is a good (ie successful trader) does NOT mean one is a good, or will be a good mentor. by mentor, i mean a TRAINER - somebody who can teach you how to trade successfully. a good trader might help you out, but being good at anything does not mean you have the...

"Do me a favor pull up a 1 and 5 minute chart using 20, 50, 200 day moving averages and tell me there is no money to be made using them. Use es h8 as an example I use other tools as well but don't say professional traders dont use them." ratchet up the reading comprehension and let it...

it's only "effective" depending on what you need. it will make zero difference in a time chart of the dow. otoh, if i need data on relative size of contracts and/or contracts traded at bid vs. ask during a given timeframe, it is NOT effective. like i said, there's advantages and...

"I don't think so. From what I understand, he traded mini-futures at the minimum trying to do what has been suggested. However, it is a simple proposition, that it is very difficult for novices to beat professionals (in futures or in poker) since the professionals have already learned how to...

IB does not have true tick data. IB aggregates their tick data. this has been endlessly discussed and verified. i use several brokers. i use IB as my primary BROKER, since i get 3.06 r/t for YM i do not use it as my TICK data though because it is aggregated. tradestation, for instance...

trading is a business. the vast majority of businesses in ANY industry fail trading is no different. the primary difference between trading an other businesses, is that in almost any other business you do not need to directly risk capital to make money. in trading, no matter how good...

the only thing that makes market profile "exotic" is that few people use it it's a robust method, and it's not based on lagging indicators.

having a plan for how much to make each day, is not part of a good business plan. it's frankly stupid. you will make what the market gives you. you can enter your setups perfectly and lose money you can screw up and make it. in the short run. so, having this sort of stuff is...

generally speaking... beginners should use MAXIMUM of 10k per contract and a MAXIMUM of 2 contracts. i strongly strongly recommend no more than 1 contract per 20k and no more than 2 contracts total. and generally speaking, i like trainees to have practiced at least a couple of hundred...

there are few more common reasons for trader failure than overleveraging. since futures allow much more leverage, they are (all other factors remaining equal) much more dangerous, and traders are much more likely to fail in futures. however... just because you CAN trade X contracts per Y...

"And the YM doesn't always lead the ES. They alternate depending." actually, i would argue the ES more often leads the YM than the other way around. but i pay more attention to the correlation between MANY markets - bonds, smallcaps, large caps, commodities, institutional vs. small trader...

"this market is a waste of time to trade intraday, it's been like this for months now I wasted my time this week making a tiny trade in SPY to catch what I saw as almost a sure-thing bottom only to see the market plunge 20 S&P points lower . Eventually I averaged down much lower and made money...

sigh... the YM is price weighted. the ES is cap weighted. so, saying "well the ES is made up of 500 stocks" ignores the obvious. cap weighting means (do the math), a very small %age of the 500 stocks accounts for a VERY large percentage of the S&P on a notional basis. the YM is PRICE...

"I gotta agree with you. These huge ranges are just way too much to handle by my standard strategies. I lost 7k this week which is by far one of my largest for the year. I'm back to break even this December so I'm pretty much way behind my target for the year. I love the volatility in August but...

the more people bash tim, the more desperate they look (and i won't even get into the projection aspect). tim's record is (was) stellar. period. many can't deal with it, so they bash. yes, tim had some underperformance (to put it mildly) later on. but he still did better than 99% +...

i take profits out every week on the account i use for income (futures intraday) i don't ever take out profits from my other accounts, although i will periodically readjust exposure to various sectors, stocks, etc.

index futures TEND to be (although recently volatility and "trendiness" has spiked) means reversion instruments this partly has to do with arbs, and there are a # of other reasons. in a market like that (where i make my living) scaling out makes excellent sense. it also smooths the equity...