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PuffyGums, I haven't read the other books you mentioned, but from what I recall, The Millionaire Next Door states that the majority of self-made people create their wealth by starting and growing their own businesses, or by specializing in something they can do well. They're then frugal...

Yes. It was written by the same guy. The Millionaire Mind has lots of surveys and statistics about the habits and lifestyles of the wealthy. It's a great book.

That's because of Britain's draconian gun laws. Crime has gone through the roof over there since they disarmed their population.

Try Advanced Futures.

Now I feel better for "only" paying $600+/month for CQG. (It used to be more, but now I only get the CME). Seriously, I don't know how people can trade with the crap platforms they use. In various chatrooms, I hear people talk about data delays, feeds going down, bad ticks, etc. all day long...

Here's something I found that I thought some of you might enjoy: VOCATION VOCATION VOCATION According to Webster’s dictionary, the term ace denotes one who excels at something. It is also a title given to combat pilots who have at least five in-air victories. World War II produced...

I hate getting hit with losses and get very angry after 2 or 3 in a row. That's my biggest problem - getting mad - because I tend to compound my mistakes. However, despite the fact that I don't like taking losses, I'm still able to get out quickly. The trick for me, is to get out even quicker...

miskie, That sounds like what i went through for a long time. It's hard to make suggestions without more specific info. What market(s) are you trading, what is your trading strategy (in general), etc.? One thing that might help is to enter your trades with market orders, since you said...

I'm not a big fan of mathematically calculated pivot points, although it seems like so many people use them, I may give them a look-see. I trade the e-minis, and just look at the O-H-L-C levels from the day-session only and all-sessions charts for the last day or two. I also look at the daily...

For the last couple of years, when people have asked me how to make money in the market, I tell them not to try. I tell them to put it into a money market or savings account. Then I tell them the story "Acres of Diamonds". It's a parable about an African farmer who sold his farm so he could...

Gordon, for daytrading, i note the o,h,l,c for both the primary session and all-sessions to determine the important pivot points. in addition, the overnight globex high and low are also key pivot points to watch. hope this helps.

i don't know where lumber is going rainmaker, but why trade it? lumber is a notoriously thin market - be careful.

ElCubano, I used to leave my initial stop in place and wait, but I found that it got hit way too often. Then I focused on the word initial. If the trade doesn't go my way very quickly, or goes my way a bit and turns around, I start looking to exit before it hits my stop, hopefully at...

Exactly. Don't do it.

That pretty much sums it up ler. Also if you're registered as a CTA you are considered a pro. For the exact definition, look at the exchange agreement that you have to sign when you apply for data services. The pro designation that you are talking about doesn't refer to how much you trade...

I find it interesting that none of the posts in this thread have mentioned anything about trade management. I've finally come to the understanding that in trading, you never really know what's going to happen next. In fact, that was the whole premise of Trading In The Zone, by Mark Douglas...

trade872, 1 point on the e-mini s&p is $50, 1 point on the e-mini nasdaq is $20. The dollar value of the contract is calculated by multiplying 50 x the index value for the e-mini s&p, or 20 x the index value for the e-mini nasdaq. For example: if the e-mini s&p is trading at 890.00...

JustDave, One reason a trader may wish to trade 5 e-minis rather than 1 big S&P contract is for trade management. If you like to scale in and/or out of positions, you may not have enough capital to trade multiple big contracts, whereas trading several e-minis may be more within your risk...

I'm living in Aventura - it's between Ft. Lauderdale and Miami. Used to live in Sarasota and considered moving back a couple of times because it's so nice over there, but the ex still lives there:eek: It's OK here, but thinking of moving a little farther north in the near future...a little...

Boy, am I glad I didn't join a prop firm! I was looking into signing up with a local firm a while back, but didn't feel too comfortable with the whole thing. I tried reading the contract, and couldn't understand it - if you need to hire a lawyer just to understand the basics of what it's...