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I'd like to try trading index futures (ES or ER2) and am wondering what sort of risks I'm exposing myself to. If I hold, say, 5 contracts of the ES and while I'm in the bathroom terrorists bomb Chicago and I come back to find my positions down 600 points, can the broker come after my other...

32, Vancouver BC Been trading full time for one year. Started in prop, moved to retail and have been profitable for 3 months.

Jack, I haven't been keeping a log of the ES. Today was my first day watching it and my plan was to just keep screen caps of the annotated charts. Do you think that keeping a detailed log is helpful in staying focused? What format would you recommend starting with?

Nice trades, especially if you got NVEC at 31.37 and not, say, 37.37 :)

I used to take a walk around noon EST since volume would dry up, trading would get choppy and I would start leaking money. Perhaps it would be a good idea to start doing this again.

I'm trying to move from a swing trading style to add in more day trading, in particular day trading the futures. When price stays in a narrow range, I have a hard time staying focused and start to drift off, reading e-mail, news or forums. I've tried listening to audiobooks and while these...

Today was the first day that I really tried to spend the entire day watching the ES in real time. I forgot how dull it can be to watch every tick of something that barely moves. Do you have any tricks or techniques that you use to remain focused and alert when the market is coasting along...

Time-based exits protect you from unexpected down sides, let you focus on more profitable trades, and are a good way of telling you that things aren't going as you expected. Good trade, cm.

Of course. I am mere flotsam in the ocean of money. But I'm fairly disciplined, I have a lot of time to devote to learning, and best of all I know that I have a lot to learn. You certainly won't offend me by telling me so. I am grateful that you are so willing to help, even if your answers...

You'll make believers of us, yet. Thanks for these annotated charts, Spydertrader. My annotations are getting closer to yours but I don't yet have the feel for when to pull the trigger. I'd like to start using IB's demo account to try trading the ES in Jan sometime, if only to stop the...

That's crap. Over the last year, people here have given you lots and lots of advice. You've kept a Journal in which people have commented directly on your trades and offered detailed suggestions. What else do you think a mentor is supposed to do? If you want a complete strategy, there...

For each strategy that I trade, I allow for a fixed level of risk which is a function of the amount in my account. As I earn more, the proportion remains constant so the risk will slowly increase. If I put on losing trades, then the amount I risk will decrease. I started by risking a...

Time, I think, for me to put aside tinkering with code and focus on the ES. If you're going to be posting your charts after each day, I'll join in the exercise. Thanks for this, Spydertrader.

.30 spread sounds wide, but it's just under 0.5%, not too bad. Remember that not long ago, the minimum spread would have been .25! This spread is compare this to a $10 stock with a $0.05 spread. It's wider than some, but not uncommon for a stock trading about 200k shares/day. Edit: I...

I for one am very interested. You've formed a strong community here and it would be a shame to end it. This thread has to be one of the most popular threads on ET (perhaps after the P&L thread).

Thanks Spydertrader, it is helpful. I've been reading some of Jack's annotated charts on his blog and trying to make sense of them. I can't say that it's clear now, but it's getting there. I imagine I'll have to come back to this post a few times before everything sinks in :) BTW: I...

Any chance you could annotate the chart with "decision points" or places that you either did or would take action?

I got in earlier but my average price is 16.35 and have nearly been stopped out already, but I'm still holding. I too like the daily chart. I'm also in GGR at 7.83 based on the daily chart and a nice pop of volume in early trading.

I'm in both of them. True, their volume has dried up a bit in both cases. OMNI looks like it's resting at the bottom of it's short-term channel on low volume so I'm inclined to hold half of my shares if it doesn't hit FRV. GMXR is tougher to call. The MACD has turned positive and the...

There's a lot to digest in that. I recall in one of the early camtasia recordings, some of the audience said that they were experiencing problems but didn't know what questions they should be asking. I feel like I'm in that same boat. There is an incredible amount of information available...