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Indeed, you do need to be careful. You need to have a circuit breaker on your platform and you have to be disciplined enough to know when you have to hit the trade out button. To use a positioning/scaling/averaging/whatever you want to call it method, you have to have predefined limits that...

Absofreakinglutely AGREE!

Ohhh...so true Steve! So true. You have to want success so badly you are willing to make major sacrifices to achieve it. Some people go to medical school because all they ever wanted to do was become a doctor, others law school for the same reason. Me? All I ever wanted to do was be a...

Yes, definitely. Once you get that feel you will always have it but that doesn't make you immune from making mistakes, or remove the hectic movement from the market. You will definitely find yourself in a zone where you, "just know" the market is gonna fly. Catching the move is an entirely...

Been down this road and I agree, you need to spend 6.5 hours watching price move for a while. The good news is....once you clear this "price action" hurdle you can go back to email, chat, skype. Heck, even a little porn would be ok but not right now. :D Trading comes down to...

Or, you can make you living getting behind losing traders. When the most stops are triggered the market reverses. There's nothing sweeter than buying panic selling :mad:

Don't agree with you on the first part if you can manage to save cash. If you spend all your profits then yes, you are no better off because your risk of blowing up still remains. If you can shield yourself from that risk then yes, you are better off. You should have an amount equal to that...

That was in the hedge fund's account but I didn't come anywhere near those numbers on trade. The liqudity isn't there to handle large orders. The reason I took the ER2 on that day was simply because it offered me a trigger while the ES did not. The ES and/or a combination of different...

You can't really say for sure what the cause is but you eventually get to the point where you can say with high confidence, "I've seen this before and it's going to do...."

Big Bank traders typically trade in teams and use all tools available to them such as technical, statistical, fundamental, and economic analysis. Smaller trader typically use only technical analysis. Heck, I know a guy who uses geometric analysis. It actually looks like technical analysis but...

Never traded with either of these firms but I can tell you trading a large account vs a small account comes with huge advantages. It's much easier to generate 250k of profit on a 1MM account vs generating 250k in profit on a 50k account.

I'm looking for an index contract to trade in the evening and the info you provided is fantastic. Thanks for sharing!!

I did that at first but navigating that site was impossible. Oddly enough, I go back and find what I'm looking for. Looks like there are 2 sessions in that market. One AM, and one PM, US time. http://www.hkex.com.hk/ddp/Intraday_Chart.asp?CId=3384576&ContractMonth=Jul-08

Excellent. Thanks!

Anyone here trade the HSI? If so, what time of day does it trade (US time) and which broker would you suggest?

Not to mention those who have already been foreclosed. Do they not have the right to bring civil action now that they have been delegated to reside in the ruins of landlords after being tossed from the McMansion? Should they not get thier slate washed clean and begin from afresh?

I went thru a similar thing but instead of getting stopped out more frequently I was taking on more drawdown than normal so instead of using slightly wider stops I increased my patience to adjust for the higher volatility. I also used to add contracts in the area of 1 ES point. I increased...

I actually started doing that when I first began trading futures but I found I would stop out and frequently have to buy at a higher price, which isn't a bad thing of course. As time went by my accuracy of hitting the headless chicken improved so it became much more efficient to take on the...

No, not many are convinced. This is what stood out to me the most "1 day earlier might work now, but may not be sufficient a few months from now."------->>>> I'm alway faced with the dilemma of fading the extreme move early or late and it typically comes down to a read on price action but...

If I knew then what I know now about what it takes to succeed in this business I would have done something easier like Harvard Medical School, or working on solving world hunger. You should get your butt back in school and come back to trading when you finish because if you fail no one can take...