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Hey, a winning day is a winning day any way you stack it up. Even if you only net a dollar, it is a hell of a lot better than taking a loss. Best, PEG LEG JOE

To me, scalping simply means your style is to go for small, predetermined gains while risking only a small amount on each trade. In order to be successful at scalping, you need a winning rate of 70% minimum to overcome commissions and the losing trades. Scalping offers the best opportunity for...

TM, that's a good analogy. Cooking seems like an easy activity on the surface. After all, if you can read a recipe, you can cook, many people say. But it takes years of study and actual practice to become a professional chef. Same thing in trading. It SEEMS so easy...just buy and sell, buy...

Before you go and give up your 60k salary, think long and hard if you are willing to: 1) Give up the security of a regular paycheck--especially given the shitty job market 2) Face the reality that you will almost certainly not make as much as you are making now your first year, even if you...

In the game of trading there is only Excellence or Failure. Failure as far as I'm concerned can take three forms: 1) blowout, 2) slow bleed, 3) breakeven or not enough profits to meet your basic needs. There is virtually no middle ground in this business. A trader who is merely "average" is...

Yes, the $2 Dow contract was discontinued. Unfortunately, there was not much interest in it. However, I think it would have been a good "training" contract for new futures traders had it flourished. Unlike stocks, where the trader can take as few shares as he wants, futures require the trader...

I like to view technical analysis as just one tool in a very big trader's tool chest, which consists of: * Capital * Psychology * Experience * Money Management * Position Sizing * Execution Methodology * Etc, etc. Like lescor, my technical analysis is very simple. I use price...

Exactly. On the 100 tick chart of ES, which is the main chart that I watch, the chaos looked much more orderly than on the time interval charts. Tick charts meter price in conjunction with market activity instead of price in conjunction with time. Happy Independence Day, Traders. PEG LEG JOE

I like the DAX and DOW futures for the reasons stated in prior posts. The lesser liquidity is actually a plus if you are a momentum scalper like me. Just be careful with the DAX, because it can turn against you very quickly, and at 25 Euros a point, it can really sting. But on the other hand...

I think most people who say they don't use stops (and are successful) actually do stop themselves out of the market or even stop and reverse, but they just don't set hard stops...more of a mental stop or even a gut stop. If not, then they lose and they lose hard. I know a swing trader who...

Can this guy teach traders how to not pull the trigger? :D Most losing futures traders I have met are victims of pulling the trigger TOO MUCH, overtrading, and paying way too much in commissions...and suffering a lot of slippage. PEG LEG JOE

It was a great day. I love Fed days. They were handing out money on a silver platter. :D

Answer: NO Price and volume alone give me all I need to trade successfully. Although indicators are not worthless, I personally did not start to become consistently profitable until I stopped using them. But, to each his own.

I think that undercapitalization is one of the main reasons for the high failure rate among new traders. Think about this: If you only have a $10k account, even if you made a 300% return in one year (which for the vast majority of traders is highly unrealistic), you would only have made $30k...

:D

Hi Brandon, I really liked what you said in a couple of your recent posts. [/b] This is so true. One of the things I have noticed about many traders who are struggling is that they are constantly in positions even when the markets are clearly choppy. I have tried to persuade a number of...

Roger, the main allure is that they require a much smaller amount of capital to trade than the big SP contract. Also, the eminis have attracted a lot of day traders who do not have the minimum of $25k needed to day trade equities under the patten day trader rules, as the futures markets are...

I really like YM precisely because it is THINLY TRADED. In ES a lot of times you do not get a fill even after your limit price has traded several hundred lots. That's because it's handled FIFO. In YM, you can get filled very easily because you are only competing with a fraction of the number...

ES is an all-electronically traded futures contract that trades on the CME's Globex system. To get ES quotes, you need a data feed or broker that offers them. I use eSignal for e-mini quotes during the day. I also have a accounts with Interactive Brokers and Spike Trading that give me emini...

ES is the symbol for the S&P 500 e-mini futures contract. And, yes the ES is worth $50 a point, which is 1/5 the value of the big contract. PLJ