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you will lose. the only way direction can change is by changing direction time is super important but guessing the future is guessing we can go up 40 days in a row or down 40 days in a row for one reason. Anything is possible in trading therefore the only thing that matters is...

for me $SPY is the best because it is LIQUID for the 10-25 range Us Steel X. (moves fast and range is more like 1 1.50 with the vix here at 30) Petrobras PBR- Range is small sometimes only 50 cents. It is liquid. QQQ is liqiud with a range about 50 cents or more good luck trading

Finding a edge take a long time. Its not as easy as coming up with a "edge" its also about understanding WHY it works and HOW to manage your trades. Odds change every minute every candle. And you always need to understand what is happening. A systematic view of how/when to exploit a trading...

You don't need to go to mit or Harvard to a professional trader. In fact many people who are book smart or successful in buisness or other things fail miserably at trading. Being athletic, competitive and also emotionally stable are probably the best prerequisites for professional trading...

I don't know. why does a stockbroker have to learn about options in order to dial a telephone. The options part sucks. Stop crying about it.

I'm not sure exactly what pass perfect offers. People said it was okay to pass the test and I believe them. So read the book ONCE only, and don't go crazy. just read it Then take the practice exams over and over all day long until you can get 85% or better CONSISTENTLY and I would be aiming for...

"once your mentally depleted your more likely to make trade offs"

The secret to pass the seven was to be able to get 85% or better on ALL 15 practice exams (after reading the initial book. ONE time only) this means you should get 70% or better. note- rewriting ALL wrong answers or weak areas was highly recommended. This was like 10-12hours a day for me...

did you use too much and vodka in the SAME sentence? :)

I don't understand why you should care about this. Your telling me your part of the "5%" good enough to pull good income out of the markets. And now you need to care how to explain this to all the different people around you? Or your forced to blend into society because YOU have free time and...

Wiesman- I agree with you on the pro athelte part. I disagree with 95% not needing adive, or 95% should not start. If people need advice to start they should get it (including how hard it is) then make a deicsion. Also if advice is needed on entry or strategy or risk management they should get...

Hate the risk. I understand not every pro is waiting to post here and there ARE many people here who are good and offer good advice. I don't have any questions I'm just saying when I started out. When you are super confused and frustrated. It is hard to spot the one good post out of the 10 other...

I wanted to start a thread pointing out mainly my negative view towards the advice given out on this forum in regards to day trading. Many people come here for help only to get shot down by failed angry traders. Many opinions are given by people who do not trade successfully for a living...

buy 1. you keep saying FALSE. Like you know what your talking about. I see you trading 1 contract with 50 index points as a stop loss! correct me if I'm wrong on that risk management and technique ^ in your es journal and your not day trading your swing trading. I consider day trading...

The only way you can become a true professional is TRIAL AND ERROR. Including reading, practicing, studying with relentless effort When you can trade pure price Everyday with zero bias either way, every single time the same way. You are a professional

To me too many people think investing is "trading" Trading a account for family members ect as mentioned doesn't count as hardcore trading for me. Starting out on the floor trading crude oil and having swings in the thousands of dollars is trading. Trading as a "hobby' is not really...

Alot of day traders trade anything that is liquid and moves around. Alot of those ETFS are pretty much meant for daytrading. Everything you meantioned seams right. Crude and s&p definitely I know a little about FOREX other then demo. I know you can lever up alot. I know they do all...

To me trading at a prop firm with 5k is better versus using 25k for futures. They are almost the same thing. 100 shares risk. 30 cents per day is 30 dollars Max loss 1 futures contract. 30 ticks is 300 dollars from what I know. (Like 30 cents on CL.) I have not traded futures but I think...

Ask him what are some of his most firm beliefs about the markets and trading methodology. Take what he says. And do something completely different. He prob has 100 monitors with all types of indicators crossing each other.. while he is sitting there scratching his head at age 70 still...

Nice post Td80