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1. Mind Over Markets by Dalton, Jones & Dalton 2. Value Based Power Trading by Don Jones (e-book)

If under capitalized, try Lions Futures an Introducing Broker for Transact datafeed, $500 per contract, $4.75 per RT if you trade over 200 per month. Add $50-199 if you want TradeMaven platform/charts. Go straight through TransAct for RT under $4 (3.71 last I heard) if you average 18 RT per day.

Don't diddle in the middle. 50/50 is not a good MP trade. you explain why in your 2nd pgh. But if you must. Play for a quick bounce the first time price hits POC. You are right to play tight stops. Quick scalps can work in congestion but be prepared for the inevitable breakout in either...

My advice is to quit trading real money and become consistently profitable on a simulator. If it doesn't work well on a Sim, it won't work at all with the fear of losing real money. If your losses are bigger than your wins, change your exit strategy and also study your Risk-to-Reward ratio...

Nimrod, I just sent a lengthy PM. Basically, for what you want, you can get it all in one neat package. I recommend you leave IB for TransAct and TM ASAP.

I think it helps to not go into the day with a bias as to whether the market is going up or down. Wait on the data to tell you and go with it. That way you're just focused on the data and detached from having to admit "I'm wrong" which does not come too easily to most of us.

AC, I don't think I've dodged anything. The OP was "can you make a point a day trading 100 shares?". My answer: Yes. Watch the orderflow and there are numerous people trading 100 lots during the day. Your question goes to those trading way more than 100 shares if I understand you...

You're misunderstanding alright. But math isn't your problem. Ignorance of the human psyche and its role in trading success is your mnor problem. No one is going to increase his lot size daily for 100 days from 1 to 100 lots. But Arrogance and the fears it masks are your major problems...

The first two books to really help me (certainly were not the first that I bought) were The Candlestick Course by Steve Nison and Support & Resistance Simplified by Michael Thomsett. Whatever patterns or candle formations you choose to stat with, just focus on one or two. Learn what time...

If you want to get hung up on math, I'll give you the kindergarten version. Futures are heavily leveraged so you can make a good pct of profit in comparison to what it takes to buy a contract daytime ($500 per w/my broker). That's 10% profit per point per contract in ES, 20% in ER2 of what...

CD, I don't know what package you were referring to, but TradeMaven allows you to trade by clicking on the chart. You might want to check them out and available datafeeds. Doesn't work with IB though. Test drive TM with a Transact data feed. I think you'll like it. $50/mo. for platform...

Another Market Profile recommendation is Mind Over Markets by Dalton.

MP hasn't been so obscure, but it takes time to understand. Most everyone wants crossing lines and signals to tell them when to buy. What's done in IOAMT is more than MP however. It's a study of the market auction. Don Jones of Cisco Futures has a home study course in it. I think he's one...

It is scaling in as it goes against you. Get out of the early entry and keep the second ASAP. Requires a lot of trading on a simulator to develope your instincts/understanding to recognize when the market is breaking out against you. I'm not comfortable with scaling in more than two levels...

Your question as to why someone successful would have a chatroom is valid. I think mostly Bill loves trading and the interaction with traders. It's also because he continues to improve. Won't cost nothing to for 14 days though you can't really grasp what he's doing in that time unless it's...

The point is to get out of the early entries before it gets to #'s 3 & 4. Billy only keeps his last filled position. the others he exits for a tick gain or even if possible. So when I say 5 points per day I'm assuming one position. I'm also assuming profits after commissions.

Per contract. He doesn't trade same size all the time, so it's hard to tell. Depends on how many levels in his scaling in he's filled on and whether he's taking 1/2-3/4 scalps or playing 2-3 pt rotations. But if he was trading a constant size, 5 points would be a very modest day. Bill's a...

Depends on your temperment. You have to study the patterns, indicators as well as basic supply and demand to figure out what works in what kind of market. You probably have to read the tape a little more to scalp well since indicators lag.

Bob Hoffman is the bobh referred to, his ET nick is bundlemaker. Bob's an excellent teacher in his own right. I've been in the room since it started as a paid site. I took the first seminar offered. Billy used to show his simulator dome but he also trades for real at the same time and he...

How does the DAX volume compare to some of the major US futures?