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Trading futures now, stocks were a good stepping stone for sure.

How clueless can one person be? Low Vix mkts are HARDER to make money in that the 1999/2000 years where stocks intraday ranges were ridiculous and electronic trading was in its infancy. Opportunities (and inefficiencies) were much more abundant then they were during my stock trading years. The...

No problem Cx, happy to share this stuff. The funny thing is, when I was trading them I knew them so intimately, and now that I dont trade stocks anymore, I haven absolutely no idea at what prices they are trading.

Mainly coal and energy stocks and a few others. Since I dont trade them anymore I wont be secretive about it. I use to be b/c of liquidity issues in some of them. My biggest money makers were: CNX ACI WHR APA PGR (before he spilt) Also traded: NE LEH GS AZO

First off, its a "prop firm". Secondly, what is it with people tonight and not having a clue about what they are talking about. First there is timvodas who thinks I am riding out long term bull mkts as my only source of trading and now there is this guy who thinks that one must max out leverage...

Not really, futures just seemed like a better transition from stocks than FX did. I used to watch the futs when I traded stocks so I already had an idea about how it traded. FX just seems so different, plus I dont think volume is provided in FX markets which I need. Honestly, I dont really know...

Thanks Red, yeah its funny to me these guys. Some people are just very ignorant of the daytrading world in which we operate. Apparently one can only make money in a rising market :)

Bro, I dont hold overnights and I dont ride out long term "trends". I trade intraday up and down, no bias no care which way we go. You obviously do not understand the world of daytrading in its purest form. You think I held positions into a bull market and bought dips??? You've got to be kidding...

I dont understand why you bring this up. I agree with you that health is more important but that wasnt why I responded to your post. You emphatically said that "NONE WERE TRADERS" when looking at the Forbes list. I'm merely saying that there are MANY degrees of wealth, you dont have to be a...

Soooo? You should know going in that trading your own money is not a way to get on the Forbes richest list. If you made 5 mil a year you wouldnt make that list, does that mean you cant live a great life making that kind of dough?

Just go through the entire year 2006 P&L thread, I posted everyday up until mid Nov. First month and a half I didnt know how to post screen shots, but then I learned and had them showing my P&L and share count everyday.

I'll let you know, probably not for awhile as I want to focus on refining my discretionary approach but at some point down the road, I may be ready to give coding a shot. Thanks for the offer :)

5k at a prop firm is all I put up. I got leverage of course but I knew how to use it. I generally only had one position on at a time and never more than 100K in BP used at any given time.

Oh, dont get me wrong, I believe you. I know the stuff works. My only contention is the degree of difficulty associated with coding it up. But if you have found a way to do it and it works for you, then thats great!

Its worth the effort though. Trading futs now.

Like I said before, your opinion on the matter is going to handicap you in the long run. There was a period of time where I could make $300/day with my eyes closed almost and once you start doing that consistently it feels pretty good. Thing is though, its impossible to improve if you are...

The bad news is....learning to correctly read price action takes a ton of time.

For daytrading, learn to read price action and pay less attention to S/R. After awhile, you'll just "know" where the resistance and support levels are without having to know them in advance because the price action will tell you so.

Thats why its only your opinion. A veteran trader who is successful knows how to adjust their approach to cater to the action on any given day. Quitting early b/c you are up some money is so arbitrary. Days like this are the best for me, for how I trade, although almost any mkt (outside of...

I agree with you on this, methods are just means to an end. Whatever allows you to interpret price action correctly, whether its the Hershey method or any other method, if it puts you in the right frame of mind to correctly interpret what you are seeing (and then acting upon it), then thats...