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It would be interesting if you also posted actual results as well so we can see how you are doing. E.g Monday 14th August +3 Week ending 18th August: +5 By the way, I think the best approach is to take small/medium wins and then sometimes a larger win. Consistency, in all market...

How price reacts to the numbers is absolutely the key. The numbers by themselves don't mean a lot. Many traders actually use variations on the pivot numbers some of which are adjusted to take into account the open price. The holy grail of trading is understanding the current price action...

There are very few net profitable emini daytraders that I have come across using indicators that successfully. Reason being they lag and you need to do something opposite of the herd to be successful. So, if you do use indicators either you would have to utlilise a unique combination or use...

Rare, but not uncommon. They usually happen a few times every year (similar days following each other). The upside reaction to CPI made it fairly obvious to work the long side. However, I really don't think the last two days have been great trend days in line with normal trend days. A...

Congrats on an educational thread. In my view, what you say in the above statement is not good trading advice. The ONLY reason to close any trade is because the current market action tells you to do so. The amount of money you are up or down is irrelevant. The market doesn't care...

Why 2 points? Why 4 points? Seems rather arbitrary to me.

You should trade ES. Slippage is greater on the big contract. Also, you get instant execution without having to talk to anyone. The delay in execution over the phone also adds to slippage.

Pivots are very interesting. If you traded them the conventional way they would probably work 1/3 of the time. I know of many successful traders who use pivots in combination with other things and that gives them a positive expectancy. There are many different ways to use them. There...

Limited Intraday range? Where? 2006 has been great in terms of intraday volatility and range. It hasn't been this volatile since 2003 and before. High slippage/spreads? ES has virtually no slippage and 1 tick spreads. Commissions? IB charge around $4 r/t a maybe as much as $6 r/t...

Very few, if any. It was a problem I had a while ago. Although, there are probably some.

It is a judgement call on your part. I don't believe using a precise definition is helpful. You want to look at the general zone and say to yourself is this area getting rejected or holding and go in the direction of what is obvious. Support and resistance merely is a decision point for the...

I really don't think undercapitalisation is a big issue as most people make out. If you have a positive expectancy and manage risk conservatively trading the appropriate vehicles a small account is neither here nor there. Where most people run into trouble is not managing their risk...

Well done Jimmy. This is perhaps the most important trading article that has ever been posted on ET. If we all read it and reflect deeply on its meaning, especially the winning edge calculation it will help us all in our trading.

There can often be a small difference between success and failure in this business. Everything works and doesn't work. For every technical indicator out there it is probable that there is a successful trader somewhere utilising that technical indicator in a winning trade method even though...

The only way to learn to trade is to trade. To observe the market's behaviour and your own psychological reactions to the market's behaviour. "You can’t judge anything from one trade; after 100, you have a plan. And after a thousand trades, there is nothing you have not seen. Trading...

A couple of interesting points: (1) We have been in a bull market in the S&P500 for a couple of years now, so perhaps understandable for a permabull like VN to do well. What happens to his fund when the market changes? Will be interesting to see. (2) After losing everyone's money where...

I started out as a daytrader of ES futures. Over time I came to two views on daytrading. In the current environment, for my style of position day trading, opportunities were not there every day. However, when the opportunities arose frequently they were very good trades. So, I started on the...

I think you are a lucky man. One of the reasons my last two relationships ended were the women putting great pressure on me to reduce the amount of time I spend researching the market/trading so I could spend more time with them. Also, they wanted me to do something more stable. It must be...

Hi NH, A while ago you briefly touched on sister trading instruments. I was wondering how that works in the placement of stops. Say you get a signal to enter in the ES, but trade the YM instead - its sister trading instrument. Do you then base the stop based on the price of the...

I don't think good discretionary traders avoid the hard trades. That is a matter of good discipline and not related to whether one is a discretionary or mechnical trader. Trading is part art, part science. With a mechanical approach it assumes it is only science. Where does the judgement...