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It's real. The thing is- I use to lose a lot because I held on to my winners for too long. I was always looking for those few big moves throughout the day, but never took profits quick enough. Now, I take profits too quickly; anywhere from a tick to 1.5 points in a volatile market...

No, I did that on Friday. Yesterday, I made $1800 on roughly the same number of trades with the same contract size. Today, I lost $1000. On Friday and yesterday, my biggest loser was ~$150, and that happened 2-3 times. In contrast, my biggest loser today was $425 with three losers over...

On the ES e-minis. Is that good, bad, or mediocre?

The target is the same size every time. So if I have 1000 losers in a row with each loser being $100, followed by two winners each worth $125, then average loser would be $100, while the average winner would be $125. What you're really saying is what if the winning percentage takes a...

It's guaranteed because the stop is always based on the target, the latter of which is 25% larger than the former. I have traded this for three weeks and had days with 80%+ losers, but always come out positive at the end of the week. The instrument offers room for scaling up.

Winning %: 52-54% Average winner is guaranteed to be 25% larger than average loser. 3-10 trades/day. What do you think?

My style is somewhat like scalping. I take partial profits when I'm 25 cents in the money, then the rest at an exit signal (volume spike, tick extreme, s/r, divergence, etc).

The spread shouldn't be that much of an issue. On SPY, it's a penny. On ES, it's a tick. I usually trade 1000-2000 shares of SPY at a time, so if I hit the bid or lift the offer, I'm out of the money roughly the same amount as one or two ES contracts. ES is attractive for the ability...

you'll be consistent on ES?

On NYSE, I have it set at +/-800 and +/-1000. It looks like the Nasdaq extremes are smaller. about +/- 300?

What would a mentor do? Make you walk away after losing a certain amount?

Now that I know how to make money, keeping it has become the central problem. I'm not just talking about losing a big chunk of it. I mean going all the way deep into the negative(for my level). Do you have any suggestions?

I agree. I think lack of confidence is still a hindrance. Along with the need for instant gratification ("I want all the money back NOW").

The week started out poorly. On monday, I was stopped out at $-443 without ever being in the green. Tuesday was worse. I reached $400, but after I took a few hits, I got emotional (ie stupid), and ended up at $-325. Wednesday and thursday was an improvement, and I ended friday with a...

Aside from The Economist.

It's relatively small (150K). I'm a trainee at a prop firm.

Last week is my best one so far. I made more during that time than the last six months combined. I hope it's a turning point but I'm not taking anything for granted nor getting complacent. Thursday was a record day at a net of $502. I almost had double that on friday, but it ended in...

Welcome.

What went right: - Managed to get multiple big winners ($0.70+/share) on friday simply by hiding my blotter. - Successfully traded divergence off the 5-min SPY. - Good coordination between EMAs, volume, NYSE Advance/Decline, and R & S for risk and trade management. What went wrong: - Lost...

www.nytimes.com/2007/08/05/technology/05rich.html?_r=1&hp&oref=slogin