Come on guys, he just wants to know if his math is correct.
1 ES point a day
- Thread starter S&P MiniTrader
- Start date
Come on guys, he just wants to know if his math is correct.
I look at it as a production line.
We invent the machine (trading system/startegy with setup and trigger)
We put in the raw material (margin)
When we get the setup/trigger signal, we press the on switch and wait for the product to get out ((a 1 point in the + column)
Sometimes it will get out not so perfect, too much color, a dent on the side etc. and its a lost.
By the end of the day, if we produced more than the losses- we are ahead and going home happy.
Keep the personal feelings away as you will do when operating a large metal machinery in your own manifactory that produce car parts.
We invent the machine (trading system/startegy with setup and trigger)
We put in the raw material (margin)
When we get the setup/trigger signal, we press the on switch and wait for the product to get out ((a 1 point in the + column)
Sometimes it will get out not so perfect, too much color, a dent on the side etc. and its a lost.
By the end of the day, if we produced more than the losses- we are ahead and going home happy.
Keep the personal feelings away as you will do when operating a large metal machinery in your own manifactory that produce car parts.
Problem is, for quite some time you will not know how to build the machine that produces the product you desire (many never are able to get the machine to work). If you keep messing up the machine, your raw materials will evaporate and you may not be able to replenish them.
100% right.
That why spending hundreds of hours watching the charts, listen to people with your knowldage and working on a SIM for as long that it takes is a key for developing an better machine.
Yes, agreed. But more like 1000's of hours instead of 100's but 100's is a very good start 
This works to learn the mechanics of trading.
You also need to learn to control your emotions. You need to pay the piper. You need to put stress on your psyche and learn to control it. You need to lose real money. The more the better. The trick is to loose big but not too big so you can't play let's say 1000 times.
Quote from R. Raskolnikov:
Yes, agreed. But more like 1000's of hours instead of 100's but 100's is a very good start
Have the time, the money and the tools.
5 hours a day, 300 days a year will give 1500 hours of development.
The auto tarding will resolve it. Build in trigger, stoploss and profit taking.
Yes, that's a good start. But like someone else mentioned there is more to it than just that. Unless you are a robot (or perhaps a serial killer) then you need to learn to control yourself, your emotions and natural tendencies. You need to battle test yourself again and again and again until you can trade robotically. This is something people usually discover only after they've begun and it cannot be understated.
Former Major in the military. Emotions are not part from the game.