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Futures are down after the run-up from MSFT's earnings report. Apparently the main story on a lot of news channels is that the threat level of another domestic terrorist attack is approaching the level of threat weeks before September 11'th.

These are the kind of small yet important details that give traders an edge. This is the kind of thing I need to do by putting two and two together. If MSFT is coming out with their earnings in a quarter where everyone is looking for guidance, and suddenly MSFT moves strong afterhours...

Having a system is one thing but trying to execute it flawlessly all the time is difficult for me right now. I am not trading tomorrow. Options expire Saturday and there will be more earnings coming out. I will leave this game to you pros. :)

How about diapers?

Crank up the voltage and lets see if I can still click the mouse while I'm twitching.

plumlazy, That was a wonderful post. Thank you! I have to say I've come up with a few very interesting observations: First, when you're out of the market on a easy Friday night drinking some wine and kicking back and relaxing, it is easy to read all those wonderful "psychology"...

Gordon, Where have you been? Are you taking the other sides of my trades? I'm trading now -- where are you?? I thought we'd do this together :D It is wild out here, isn't it?? This week has been insane. (Note to self: Don't ever begin trading again during the week of earnings.)...

lol

Agreed. On a brighter note, I lost less today than I did yesterday, so I'm moving in the right direction. I need to work on the discipline. How does one teach themselves good discipline? Maybe I should re-read Douglas' book. Had I followed what I said to myself, I'd be looking at...

All I know is that apparently I have picked the wrong week to begin trading.

QQQ, SPY, etc .. they are all indexes (indices?). I am finding that each handle on ES is 1% of my account. You're only supposed to risk around 2% of your account per trade MAX. That basically limits me to minor scalping. I went to QQQ and SPY for practice. I can trade 100 shares of QQQ...

Right. Like when I'm in a trade and the power goes out and / or my broker goes down. That's gotta be a REEEAAAALLL nightmare.

Concerning "sticking to the plan." What I don't understand is how a trader "sticks to the plan" when the market is moving in real-time. I guess maybe some systems are more simple than others, but when the heat is on, I find it very hard to be objective. Maybe that is because I am new to...

Some of those posts were absolute bullshit. I look back at my naivete and just shake my head in disbelief. That ATM machine still exists. I am that ATM machine. :D

Today I learned something new. An advanced trader may be able to use mental stops. However, a new trader better have hard stops to protect against the very thing that happened to me. I would have probably lost $100 less had I had a hard stop in place. In fact, the thing was moving so fast...

Before I started, I told myself the emotions wouldn't get to me. Then, when I'm in a position like ES and it starts going against me, my stomach wraps up, my heart starts pounding and I feel like screaming like a little French girl. I obviously underestimated the psychological...

It is Jasper. However, Jasper only works with NQ and ES. I hadn't programmed it to work correctly with the multiples of YM.

I get three daytrades a week. I'll just have to make the best of them. I'm going to step aside from futures for the time being. Making $500 a day on a simulator is awesome but losing half that a day with real money is not.

The daily range lately has sucked. All of the movement has occured afterhours. The market is "weird" to me lately so I'm sitting the rest of this week out and goign over each of my trades this weekend and asking myself why the hell I took each of them. This fly-by-night trading has...

janko, Thank you. You are absolutely right. Every one of my trades in QQQ and SPY were profitable -- all three of them. I made one profitable trade in ES today and my first YM was a $20 profit. It was around 4:00pm and I was taking advantage of the spread by kind of making my own little...