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in this profession to get the clues you got to pay the dues (both in terms of money and time) for some it might take 3-5 years for some even a decade, but i have found that in the end there is no holy grail. you have to give it a lot of your time and youth to find out how market really works...

Interesting and makes complete sense. looking forward to next post. could you refer to some pointers to better understand "On each and every timeframe every wave in line with the dominant trend manifests as a 5, the corrective wave as a 3."

but he died poor, penniless.

life is a journey, death is the destination. in between we have our stops. in the end doing what you wont regret at deathbed is all it counts.

questions : 1 st wave crossed the 23.6%. 2nd wave crossed the 38.2 % 3rd wave touched just shy of 61.8% How many wave cycles are there and after which wave does the downtrend continue. Did it get the above right ??

Isn't there a strong support at 280.50?? as of today??

short time trading does look like it, some days are green some days not so much. at end of month commission and losses eat up your profits. If i could get the hang of intraday properly, i am definitely going over to swing trading. atleast for a few days kinda of swing.

Are your calls for long term, anything specific for intraday ranges. maybe its a newbie question??

if you made money, then i guess you know your way around in the market. May be take a look at the psychology side of trading. cos no body can win 100% all the time, keeping your losses at bay and winners dear. May be that might work. Don't give up, many don't even make money atleast you got that...

i hope i dont jinx it, for the past few days i am going green almost to the tune of 70 % win rate. Almost 20-40 contracts a day with average hold of less than 2-5 minutes. Average trade in terms of dollar value around $65. Today i tried a different strategy and held for longer gains and came out...

why would he play such a sadistic game. no matter if you get it right he will kill you. cos only a psycho would point a gun and enjoy the trader squirming in his seat for next 30 mins.

for day trading you need to be glued to your screen, for swing may be not so much, Day trading really need to sacrifice your eyes and vision. Hopefully when i get older and semi-blind, it was all worth it.

i was in your shoes, but with the business there was always the hustle and interacting with the customer service on daily basis, it consumed too much of time. So i sold my business and trying to transition into full time day trading. Mistakes i made was i never took trading seriously when i had...

i am still working on being a persistant profitable trader. I really try to move with the market whether its going up or down. small gains and small losses no home runs. todays result from est 10:30 - 2:30. still need to cut down on number of trades. ( if anyone could educate me on the results...

this is the whole truth. i never really took trading seriously as i would with other business. Even though it was something that wiped me out number of times i still played it like you would in the casino. Never really learning anything from my mistakes. But then i was lucky to have a mentor and...

thats a good trait, rather than saying you know everything. playing dumb scores over being overly smart. These days no one loves smart alecs. People love others who seems dumb. Only what matters is being smart with trading.

these days i am having a lot of greens compared to reds. My understanding of trades and market in general has improved a lot and it seems fairly easy to make money especially in ES these days both in an uptrend and downtrend ( intraday). A lot of traders have mentioned that most strategy or edge...

exit strategy i would average and exit north of 80. long term breakeven at most. ( long term 1-3 years) just my take. i am a rookie.lol

exit strategy or long hold??

i gave an example taking into consideration op capital base. which was $26k. Even with a margin for 10 contracts @ $500= $5k he still has enough to cover for drawdown. But he has to use his wits and make sure his strategy is well suited for current prevailing market, I only trade ES and these...