emini S&P sept contract.
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A Truth on Trading.**Everyone, please Read**
- Thread starter Bullz n Bearz
- Start date
emini S&P sept contract.
Quote from Bullz n Bearz:
I have been working pretty much 12-14 hours a day on trying to "improve' my trading skills. However, I can improve them as much as I want, if the market goes against me, the market goes against me.
Today, I was up $500 profit and had a limit order to get out. Limit was not filled and price reversed. Lost that 500 and then -493 as well. These aren't the only days that this kinda stuff happens either. They happen often.
I've posted before about trading being a scam. Well, maybe not a scam, but it definatly will take your money. I don't know too many people starting off under capitalized like me that make it well. Someone told me Jack Hershey started with 300 bux, I call bs on that but anyway.
So, to anyone trading, or thinking about keeping this as your living, please thoroughly evaluate your position as a trader and don't listen to a lot of these guys on ET saying they can double their profits easily.. maybe these guys can double their profits, however, it's impossible to do that consistantly. impossible. don't believe the hype.
please, i really encourage any honest , new et member to pm me or post in this thread for only honest discussion relating to trading. i don't want any puretick salesman, spydertrader thieves, and/ or jack hershey acid tripping trolls that talk out of their butts. i just want honest people who want to make a living off this like i do.
thanks
On the upside, you're probably already a good trader, otherwise you wouldn't be able to consistently bank the profit in the first place.
On the donwside, if you let that happen, and as you say, you let it happen often, knowing the e-mini contract and how it trades, you either need to seriously improve your trading skills or you need to seriously get another broker who won't dick you around.
However it works.
Good luck,
JJ
P.S. Notice how, in my writing, you always have total responsibility for your trades, both the profits and the losses?
Quote from JimmyJam:
On the upside, you're probably already a good trader, otherwise you wouldn't be able to consistently bank the profit in the first place.
On the donwside, if you let that happen, and as you say, you let it happen often, knowing the e-mini contract and how it trades, you either need to seriously improve your trading skills or you need to seriously get another broker who won't dick you around.
However it works.
Good luck,
JJ
P.S. Notice how, in my writing, you always have total responsibility for your trades, both the profits and the losses?
Well, in terms of brokers, I am currently on my fifth. They are Open E Cry. So, I have been around and searched for the best. Heard Open E Cry was it.
In terms of me being a pretty good trader, eh, debatable. Not yet at least. I have a lot to learn before I get to that point. By the way, I far from consistantly bank profits just so you know. I mean I have a better idea on which direction the market currently goes(i use metastock to advise me and then also i use my own eyes) so that kinda works in terms of me banking profits more often than not. but when i lose, i seem to lose big(insert "cut your losses, let your profits grow line here.. lol)
Personally, I Just need to stop trying to hit some big moves. I hate when I do this.
Quote from Bullz n Bearz:
Not too long really, only a few months.
I know you don't want advice but I'm going to give it anyway. What hook said was right, it's all in your head, and yes sounds very cliche. I've been trading for roughly 8-9 months now. After about 5 months I was starting to get frustrated, I couldn't see anything, I was doing the exact opposite of my plan, it was all in my head. I took 2 months off to refresh my brain and analyze what I had been doing.
Been back for about 2 months with a positive mindset, I always follow my plan and I'm making a lot of progress, I can just feel I'm about ready to step up a level. Keep your thoughts as positive as possible. Tell yourself you will be a profitable trader by 2008 and keep working towards that goal every day.
Quote from jho:
I know you don't want advice but I'm going to give it anyway. What hook said was right, it's all in your head, and yes sounds very cliche. I've been trading for roughly 8-9 months now. After about 5 months I was starting to get frustrated, I couldn't see anything, I was doing the exact opposite of my plan, it was all in my head. I took 2 months off to refresh my brain and analyze what I had been doing.
Been back for about 2 months with a positive mindset, I always follow my plan and I'm making a lot of progress, I can just feel I'm about ready to step up a level. Keep your thoughts as positive as possible. Tell yourself you will be a profitable trader by 2008 and keep working towards that goal every day.
yeah , i like that mind set. i do try to remain positive. i guess "try' is the keyword, huh? i should just do.
but yeah, when the trade goes against me, i lose a lot of those positive thoughts.. lol
Quote from Bullz n Bearz:
Well, in terms of brokers, I am currently on my fifth. They are Open E Cry. So, I have been around and searched for the best. Heard Open E Cry was it.
In terms of me being a pretty good trader, eh, debatable. Not yet at least. I have a lot to learn before I get to that point.
Personally, I Just need to stop trying to hit some big moves. I hate when I do this.
First and foremost, stay positive, you at least have the entry part of the equation correct.
Secondly, you just gave yourself one of the keys to successful futures trading with your comment.
***
Trading derivatives is all about the leverage and how you manage your money, locking in gains when you have them, not overtrading, and coming back tomorrow to do it again.
Good trading,
JJ
honestly speaking, how many people are TRULLLYYYY making a living off trading on this board? if so, for how long have you been making this and how long do you think you can continue this money making from trading for?
bullz, you suffer from a common logical fallacy. it goes back to the days of the greeks
you assume that because you can't succeed, other's can't. "it's a scam" etc.
spare me.
the markets HAVE to move.
good traders can make money from reassessment of value (on various timeframes) whether they use a lynchian analysis to find the next Hanes, a pure fundamental analysis a la buffett, or a technical analysis.
MOST traders (contrast with investors - most investors make plenty of money) lose money.
GOOD
because losers like you will continue to enter the markets with no clue, no training, no business plan, and no sound methodology - and lose money. which provides the winning traders with that much more money, AND a reliable retail mindset to fade and make positive expectancy trades.
the markets are NOT a zero sum game (except for futures and options) but there will be losers.
and the losers will be concentrated among those who fail to do the training, due diligence, risk management, etc. that is the hallmark of a professional trader.
you assume that because you can't succeed, other's can't. "it's a scam" etc.
spare me.
the markets HAVE to move.
good traders can make money from reassessment of value (on various timeframes) whether they use a lynchian analysis to find the next Hanes, a pure fundamental analysis a la buffett, or a technical analysis.
MOST traders (contrast with investors - most investors make plenty of money) lose money.
GOOD
because losers like you will continue to enter the markets with no clue, no training, no business plan, and no sound methodology - and lose money. which provides the winning traders with that much more money, AND a reliable retail mindset to fade and make positive expectancy trades.
the markets are NOT a zero sum game (except for futures and options) but there will be losers.
and the losers will be concentrated among those who fail to do the training, due diligence, risk management, etc. that is the hallmark of a professional trader.