Don't get me wrong, I do believe in letting winners run but for my intraday futures system - I'm all about being as defensive/consistant as possible.
When trading intraday futures its just silly to hold unless the market is ripping vertically or its going parabolic - otherwize when the chop...
Another good thing about using goals is that I know how much I'm going to make tomorrow: either +X or -X. So it all comes down to hitting the +X target as accurately as possible and limiting DDs to as low as possible.
I put money to work for a living and I'm just trying to put as much money to work as possible.
Okay so I've found the catch: There's a 2% balance transfer fee after the promotional period. But now let's say I call up one CC company when the bill arrives and I say I want to pay the bill...
I'm going to start charging my card for all my expenses. Basically the plan is to keep as much money in my IB account as possible so I can have more money available to put to productive use and IB pays good interest on cash balances over 10k.
I have two cards, and it seems there is a...
SORRY FOR THE CAPS LOCK BUT I JUST HAD AN EPIPHANY. YOU KNOW WHAT'D BE REAL COOL....TO HAVE VOLUME BARS SUPERIMPOSED ON A NORMAL PRICE/TIME CHART. THEN YOU HAVE A SITUATION WHERE YOU CAN VARY THE WIDTH OF THE VOLUME BARS IN ACCORDANCE TO HOW MUCH TIME IT TAKES FOR ONE TO CLOSE AND ANOTHER TO...
When I say profit target I'm not referring to a $ target but rather a points per contract target. Its important to keep it small and reasonable. Occasionally on a big trend day, you can hold for a really big winner. But I think that its important not to push the target too much because...
Who makes the most? I'm guessing the newsletter guys. And are they worth it? It depends so long as you don't follow every call. But all it takes is one great call to make a newsletter or signal service worth it for a lifetime - just one great idea.
Like getting long oil and energy stocks...
I started a what does it take to make it big (as a trader) thread and Efficient Market Theory pretty much won on that thread.
So now i want to know what does it take to make it big (as a vendor).
Now I know vendors are universally despised on ET - i suppose because a lot of ETers got scammed...
You know who founded the Swiss Banking system? It was the Knights Templar. They were the first international bankers - and after they got massacred by the King of France on Friday the 13th they fled to Switzerland. I watched a documentary on this on the Histrory Channel back when the Da Vinci...
TV sucks, ET sucks, Youtube sucks, I hate reading, music nowadays sucks - there's nothing to do.
My only hope is to build consistency, size up, then frequent massage parlors and brothels.
In order to stop over trading and get consistent, I started using goals. Basically if I'm down X amount from the high water mark of the day - I shut down. And if I'm up X for the day - I shut down.
This way I:
- Stop overtrading.
- Limit Losses.
- Protect Gains.
- Improve Consistency...
such as:
GLD
USO
2x Long the NASDAQ-100 (QLD)
2x Long the S&P 500 (SSO)
2x Long the S&P MidCap (MVV)
2x Long the Dow Jones Industrial Average (DDM)
2x Short the NASDAQ-100 (QID)
2x Short the S&P 500 (SDS)
2x Short the S&P MidCap (MZZ)
2x Short the Dow Jones Industrial Average (DXD)