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Wow, TZ. This is some pretty impressive research.

yes

I thought someone would bring up the slippery stuff. I haven't had a short trade on that beast in nearly 2 mos for obvious reasons. Point duly noted. Steve46 said it best. Trend following, or the lack thereof, is dependent on your time frame. A guy trading a 1 min candle may fade the 5's...

Just a quick thought while we're on this topic, and this is likely to ignite some heated debate......a system that has the words, "Trend Following" is inherently flawed by virtue of having the word "follow" in it. How can you be a leader by following and how can you win if you aren't a leader?

1. Scale in to positions----->>> I've probably said this 100 times on this site but it's so important I think it's worth repeating. Traders have a natural tendency to think you have to time the market to make money and the only form of risk management is using stops. That couldn't be farther...

I just couldn't agree more.

Not necessarily true. What about businesses who keep $1M in their checking account to make payroll, for example? Should they keep 10 accounts open to manage that risk?

Taking the opposite side of a system "just because someone else is buying it" is a very poor trading strategy. They key to trading is finding a edge that "suits you." Find out who you are as a person, develop the system around that, refine it until you find an edge, and repeat it over and over...

I don't think IB's move has as much to do with volatility as it does with their fear that a major player is going to collapse. If something like "C just went bankrupt" is announced in the middle of the day we could go limit down in a matter of minutes. I've gotten caught in a major drop before...

check out www.hedgefund.net and see if you find anything helpful.

LOL. that's what I was thinking. 3 years is just too long!

You don't have to trade that many contracts but obviously it helps. I've made as much as $1000 in one day trading 1 contract. There's a ton of freaking money out there in the futures markets.

If you know how to do it scalping the ES can make you a crap load of money but that assumes you know how to do it. I agree, my time is important too but if the market is going to pay me my time is very well spent scalping the crap out of the ES. Get your rest, tomorrow we scalp :mad:

MatureDiamond, I wish you luck on your quest to get rich and I'd like to share my experience with you that may help you on your journey. I began doing what you are doing except I began with just 5k and had a goal of turning it into 100k by the end of the year. In my first month I turned...

There are two ways of managing risk. The first is to use stops, which lowers your win rate because there will be times you'll get tagged and other times you're damn glad you had a stop, or you can use the size of your account. I choose to use the size of my account because it gives me a higher...

This is not necessarily true. I have a long-term win rate above 90% but the answer to your question is because traders put far too much emphasis on timing.

You're typically looking at 0.25 but every once in a while it will be as much as 1 point. I was camping out on a trigger today with my finger on the button, wanting the market to drop a little more so I could buy it and it jumped a full point. It finally settled back down and I got my fill but...

4D, you are talking about a dilemma I faced many years ago. Do I sit there and wait days for a trade to setup and pass up all the decent ones in the meantime or do I take every opportunity the market offers? Here's how I solved this dilemma. By nature, I'm a fairly impatient person so I had...

lilduckling, I couldn't agree with you more. How is exiting for profit too early a mistake? When I enter a trade I do the same thing on each and every trade. In the morning I take profits like a fool. If the market offers me money I do the foolish thing and take it. In the afternoon I take...

There's no way to be sure but today had a different "feel" to it. The other 2 days there felt like there was panic buying. Today just didn't feel like that but who knows. Check out the candle on the Russell when you get a chance. It looks a lot like the bottoms from earlier in the year...