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Tue 05/06: the ER wiggled all around me yesterday. Was long three times and short seven times total. Tried to hold for distance, got stopped out on deep retracements (long) or bumped out from brief drops with buy-program slams. Net result was -4pts total. Had two chances to finish at...

<i>"Noobs only calculate what they can make. Experienced traders only calculate what they can lose."</i> Professional traders calculate the favorable balance between both. It is the reward realized thru patience & discipline for calculated risks taken that results in overall success...

Long this morning ER 723.8, sell-stop set at 728.8 for +5pts which was below the daily pivot point. Should have easily tagged the pivot like all other eminis did, have me out at +5pts and done for the day. Nope... ER was the lone dissenter on hitting that magnet. Missed that print by three...

<i>"The only realistic way to average one point a day is to nail four 25 point trades that you hold for a total of 20 days and and break even on the other 80 days. Its the fat tails that makes or breaks your week/month/year/career, not the "average".</i> That's one way towards success. It...

<i>"In eight years, I have looked at every indicator. Followed every rabbit path. None of those has proven to me that they have any edge to speak of. I have never understood how people trade with support and resistance. It seems so subjective. That's where I am today. One point per day just...

<i>"the example was given to make clear that takers of liquidity have to "pay" the spread; providers of liquidity aka market makers "earn" the spread."</i> That whole bid/ask spread thing for emini futures specifically, FX included and all relatively liquid instruments in general is nothing...

<i>"you decide to go long at market , you buy at 1400.25 , immediately you want to close your position at market , you will be filled at 1400.00 ; you start out with a loss of 0.25 = the spread. The market needs to move 1 tick higher to 1400.25/1400.50 to break even. Clear?</i> No, that part...

<i>"The misinformation posted on this board by "experts"..."</i> Which certainly leaves you out, in your present ET carnation and past.

<i>"what have you been smoking? of course there is relevance to the spread. a retailer who always enters at market and sells at market, will save money on a tighter spread."</i> It's been awhile, but apparently what I smoked wasn't nearly strong as yours. Explain mathematically how exactly...

<i>"and if I look at the spread costs (buying on the Ask and immedialty selling on the Bid)"</i> In the real world, nobody does that. In the real world, short ES 1400.00 and trailed out 1396.00 for +4pts would be the exact-same trades as... short ES 1399.75 and trailed out 1395.75 for...

Done for the day, last trade closed at 12:49:15pm EST At this stage of my career, I'm content to be a partial-session trader when given the chance. A lot of summer 2008 t-times, boating events, yardwork and living life in general away from the screens awaits me. Fair reward for crawling over...

Let's trade one emini contract forward, use a +2 (or better) reward / -1 risk ratio holding for handles instead of scalpy ticks and see where we end up. Maybe we'll flame out like many other attempts chronicled in this forum. Maybe not. Tomorrow would have been a logical starting point, but...

<i>"Quote from tango29: As has been said a zillion times, most if not all trading info is available via books or free online. Study your arse off and work your arse off and give yourself a chance to earn a living...

<i>"It has no effect on overall tonnage shipped by my company though."</i> There is a scrap metal processing station around the corner from me. All day long we have a steady procession of vehicles hauling every conceivable piece of steel and tin imaginable. Short steel prices were $360...

<i>"He's a lot smarter the the Democrats who insisted that we burn food for fuel and refuses to allow us to drill for oil in our own country."</i> Leave the wildlife refuges just the way our wiser fathers legislated: forever wild. Legislate minimal mpg useage on passenger vehicles, expand...

<i>"this is a just a bit of fun for me, only a small account which could easily blow up!"</i> That is perfectly fine, you are getting from the market exactly what you seek. I never meant to be prickly about my posts here in your thread. Hopefully it hasn't / doesn't come across that way at...

<i>"a cinch u say>? 80 - 120 ticks, you must of had a good day, I hope you got all those points ! the dome approach i have been playing with is oblivious to the big swings, just looking for small snippets of high probability here and there, sure it leaves a lot on the table and misses big...

<i>"no charts or lines here..."</i> How did that work out yesterday? 50-tick swings were everywhere... cinch to book +80 ticks ~ +120 ticks ER2 for anyone skilled at using charts. Just wondering how the pure dome approach compares

<i>"Lost a ton today, didn't follow my rules, had no patience and didn't wait for my set-ups..."</i> Monday and Tuesday were congested, drifty, directionless sessions. That tends to build frustration in traders... they worked hard for two straight days and couldn't catch anything directional...

<i>"over traded like a mad man .. whoa now!</i> You might strongly consider turning those charts back on. ER2 was an easy trader thru 1pm est today... with 3 - 4 trades max <i>"broker did ok again though"</i> When don't they? Definitely the least stressful side of our profession to be...