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I don't think too many have actually attempted to answer this question as people have got somewhat sidetracked on this thread. The difficulty with making 1 point a day on 1 trade are your drawdowns or when you are wrong. No trader has 100% wins so some days would be losers and since you're...

What is the commission scale then?

Are there any Swift Traders out there that trade on the futures side? Could you give me any info you can on your typical deals. Cheers.

Interesting question of when to quit. One thing to remember is that trading is essentially your own small business and you are the entrepreneur. Like any entrepreneur you are going to sometimes take risks which might seem crazy to others to keep things going when you are in a rough patch. I...

Just moved to HK 2 weeks ago. I trade the ES every day. Excellent hours with the US market opening at 9.30pm, especially if you want to earn some cash during the day. Would be good to also meet other traders in HK.

I agree completely with losing your short bias. You should be comfortable with going in whatever direction the market tells you to go. From my experience, I think it is a better idea to trade your money first on your own before going prop. Working prop is a good experience, but is better in...

Never claimed to be a god of trading. I am still very much learning as everyday I seem to learn a new lesson. That is trading for you, a constant never ending learning experience. I was just merely passing on an observation. I have long noted the more a trader brags about his performance...

It is interesting to note the expansion in range has bought out all the egotists who are 'coining it'. If one was on ET in 1998 it must have been a dreadful place given the recent relationship between range expansion and ego threads. Never mind, the trader that is not humble will soon be...

Is it just me or does ET seemed to be dominated of late by egotists only concerned in bragging about their so-called brilliant performance or making big market calls for their own self aggrandisement so other people will tell them how great they are...

I started a thread about this once called Censorship when a negative thread about GH was removed. According to Baron, the company disputed many of the claims and so it was removed. So, GH must monitor this site pretty closely it seems.

Making predictions although a bit of harmless fun is a fool's game. If you make enough calls sooner or later you might get one right. But one call in isolation from one's trackrecord is meaningless. Just trade the action. Forget about predicting where the market will go.

However, we will wait and see what the afternoon holds. Remember the market rallied early Friday and reached intraday highs at 11est and from there was downhill the rest of the day. My point being that a flat/higher open isn't necessarily bullish in itself. The key will be trading in the...

I think sentiment indicators are useful, however, I would be careful of using them outside of the bigger picture. It is not only are people overwhelmingly bullish or bearish, but also have they acted on their convictions as well. Only once we get to extreme levels where people also throw in...

Likewise. I always found it amusing that the most successful brokers knew the least about the markets, but were just damn good salesmen.

I agree with the Bear market analysis to an extent. I personally think that we have been in a cyclical Bull market (since mid 2003) within the context of a secular Bear Market. A quite normal countertrend move to the main trend. I think this selling is more serious than what we have seen in...

Of course, not uncommon from a longer time frame perspective. However, in 2001 and 2002 we were in a Bear Market. Since this Bull market began it has been an unusual event. That is what makes me think this could be the start of something dramatic rather than the end of a normal selloff...

Well, according to that article posted above "With Friday's losses, it was the first time the Dow lost 100 points three sessions in a row since late January 2003. " I would actually call it pretty unusual when it hasn't happened in over 2 years. At least from an intraday perspective.

This seems a pretty serious selloff, more serious than I can remember in a long long time (although I wasn't around in 89 or 87). Question: when were the last 3 days in a row which were clear downtrend days and the Dow lost 100 points each day? I can't remember 3 consecutive days like this...

If you are trading for an institution, whether it be a prop house or hedge fund, you are at risk. The risk is just slightly different. If you do poorly you could get fired. The risk of losing your job is slightly less than the risk of losing your own money, but institutional trading is not...

I am in the minority here, but I find papertrading very useful. I paper trade and trade real money at the same time. With any new strategy I manually backtest it and then forward test it on paper for a sample of 10 trades usually, sometimes 20. This forward testing or papertrading I find...