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Excellent post Don. A couple of thoughts I want to add. There is no perfect system or way of trading. Everyone has access to the same tools. There's nothing new in trading. What will differentiate you is your temperament in handling the psychological ups and downs and your ability to...

Maybe, maybe not. Here's my point, at some stage that will happen. These narrow ranges will break with range expansion. However, who can tell whether that be today or another day?

Of course, the other side of that argument could be that the ES uses up all of that energy in that early run up and we then get stuck in range. The ranges have been rather poor the last couple of days. At some point these tight ranges of the last few days will break, just not sure it will be...

Long side looks more likely than short side, but yet to be confirmed....longs look premature at this stage....

One of the great dangers is actually tweaking on the basis of every little loss or valid comment. Eventually you have so many rules that eliminate many trades you aren't really trading enough or accepting that risk and uncertainty are a critical part of this game. I also went long today and...

I feel at ease already, thanks. Just not sure what the result will be as this has been such a do nothing morning thus far. My stops are always pretty close. Risking 1.75 on this trade.

Long here. Not sure if this is going to work.

I think studying military history is a good thing for traders. We can learn a lot of relevant things there. It is no coincidence that often ex military turn out to be good traders. There are 2 critical aspects to trading: (1) analysis and (2) action. Studying military history is very helpful...

I think most of the time you want to be on the side of the trend. Although, I still think that at times countertrend reversals do provide good opportunities as well. My ratio runs about 70-80% trend continuation and 20-30% trend reversals. You do have to be a bit more precise with trend...

The danger usually is rushing the development stage or any stage of the trading path. Everyone wants to be making millions now. Although I believe that can be achieved long term, there are many years of development required. I should also clarify, for the purposes of full disclosure, that I...

Most successful intraday emini discretionary traders are trading a proven system. That is to say, a method that has rules, but usually requires a degree of judgement as well. Discretionary trading does not necessary mean discretionary traders are trading by gut feel alone.

It's important not to go full-time too soon. Read Pit Bull by Marty Schwartz and follow his model. Trade part-time until you have raised enough money for a decent grubstake. His level which I think is what you should shoot for is 100k. This does a couple of things. 1. Proves you can...

I know what you mean. However, then it is a discipline issue. To be honest, if you see really good long term results it doesn't become that difficult as your faith in what you are doing is so much greater. The fear becomes manageable. I feel fearful, yet relaxed when entering a trade...

When a trade gets rejected like that it is also a good clue that the other side of the market may dominate. Personally, I hope the long side stays dominant for a while. I have a bet with a colleague that ES reaches 1330 before it reaches 1270. A free pizza dinner is at stake...:) Long...

System got me out at breakeven. Good trade as I executed perfectly according to my rules so I view it as a winning trade! That's me done for the morning. System has me flat until 1.30est at least. Gut instinct isn't the best way, in my experience. You need positive expectancy first and...

Likewise, and so you should. That's the path to success, always following your system regardless of what you think. When my system gave me that short signal I was thinking I don't like that as I am long term Bullish at the moment, but I had to follow my system. Now, it looks good...trading...

From my memory, Spike has a good record at his market calls. However, knowing what the market is going to do is not necessary to make money consistently in the ES. In fact, for most of us having any market bias at all, is probably a negative. In my view, it is far better to approach each...

Like buying food in running a restaurant, merely just the cost of doing business.

Hi Spike, First let me say, thanks for posting at ET. I have read many of your posts and the general principles, and knowledge you share, are an inspiration to any ES trader, I think. It's a long hard road. I started daytrading the ES in 2003 and it is only now I believe I have...

That is maybe what you believe, but I can assure you there are successful emini daytraders. It is difficult for sure, yet not impossible. Usually involves many years of losses and lots of pain first though.