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So we've seen live how not to trade .. in the next lesson .. we cover how to actually trade :) but in teh meanwhile .. do analyze

Good point so thats 5) not stick to the plan

closing out the 400 units of s n p 500 at day end

OK guys gotcha ! this thread http://www.elitetrader.com/vb/showthread.php?s=&threadid=65763&perpage=6&pagenumber=13 is actually a demo of how not to trade .. Let's analyze seriously what went and could go wrong I'll start the with the first couple points 1) Luck totally...

at the point u asked (thats before i added another 100), i lose 300*50 per point lost in the index plus commissions plus exch pl tax .. can some one tell me what is the typical commission for so many trades .. assuming i pay up the margins .. pro traders and scalpers pl add value .. request ...

holding 400 units at average 1297.822 of s and p 500 underlying index (not futures please read my earlier posts) thanks mishwar

and for good measure adding another 100 units at 1296.75 so thats 5000*400 = 2000000 margin .. cool mishwar

now average is 300 units at 1298.18 thanks mishwar

Sure, adding 100 more units at 1297.18 thanks mishwar

average 200 units @ 1298.68 now i see divergences .. just have to wait a while .. mishwar

ok .. adding prob the last set .. adding 76 units @1296.9 just to make it 200 units of s n p 500

124 units @ 1299.78 now

going another 50, s & p 500 index long @1297.7

now the key stage of tradin gin the day .. it remains to be seen if the index makes a higher bottom. that will be the key .. mishwar

for missing posts please see ES journal .. as of now .. ihave 74 lots long at 1301.19 thanks mishwar

no im trading the s and p index itself assuming it to be a futures lot .. im half a world way away from the US so not able to get latest ES rates .. please help if you can ... thanks mishwar

:) thats cute .. i told u i transfered minutes before i entered my order. mishwar

V V sorry i apologize .. those msgs belong to another thread ... i gracefully exit here ... thanks mishwar

total 74 lots long at 1301.19

ok last another 30 lots long at 1299.3