**Almost in Tears** Need Mentor for Futures Market.

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Hey BnB,

I myself is not a successful trader yet, but I believe I know one when I see one. According to him, this is the strategy that would turn you into a successful trader:

"1. Trading is like counting cards in black jack. You get the money out ONLY when you believe the situation is in your favor.

2. Every trade is a guess.

3. Learn what to guess "AT"

4. Be disciplined about taking risk and exercising stops.

5. Simplify your thinking. Then, when you've simplified all you can, simplify again! K.I.S.S.

The #1 factor in overall success is stop discipline. You must get that right away. If you don't, you'll not survive long enough to get the rest of it." --- Gnome


I hope this will help turn you around.


Pension_Admin
 
Quote from Bullz n Bearz:

What's his nick?


I will be paper trading starting next week.. I'm still really frustrated on trying to get this whole trading thing..
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Don't know. But, ask around... you might find him.
 
Quote from Bullz n Bearz:

Yes, something like that..
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I am OK with trading stocks and very successful with option trading. A couple of months ago, I started to trade emini. I did two sucessful trade with a little bit profit. Then in that big market correction 2 months ago, I saw that SP future is down 35 points so I bought one contract at 1427. In just 10 minutes it went down more tp 1418 and I bought another contract. In half an hour it went down to 1400 and I was liquidated because my account was loaded with stock and option positions.

Moral of the story: You can not say market will not or should not go down or up more than like 5%. Everything is possible. It can down or up 40% a day. You should be prepared. You should not be biased. I was biased because I could see that in the last 2 months SP future fluctuated only 10 points !!. I could not believe that it can go down 70 points. By the way, I am trading stocks for 12 years and option for 7 years. I quitted trading future and went back to my successful option trading.
 
bulz and bearz

I don't know if you realize this but every trader worth his salt went through this stuff, I don't care what ETers will say to this but I myself was at times even suicidal

well anyway, I learned to trade and am now making 1-3 k per day.

today I made $1911, but its less cause of fucking taxes, (god I hate taxes)

anyway listen Bulz and Bears

I can teach you in only 3 days

and we would do it by phone and we can trade live and you would be placing same orders as me

but you know what SON, I want fucking 10 k for it.

you probably don't have the money for a real mentor to tell you what to do.

if you do PM me
 
use this BookTrader set up. Works quite well for tossers.

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1508710">
 

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BNB,

You have to take it slow when learning something new, especially when there is a good deal of your own money at stake. I spent 3+ yrs daytrading stocks and now I am trading the ES. I am still pretty new to this mkt so I dont presume to step in and start trading 20 lots or whatever right off the bat. Here is my meager blotter from today (so far), you can see I am trading 1 lots. I am not ashamed, I dont think I should be making thousands yet. I'm still learning.
Patience my friend, sizing up in ES is easy once you know what you are doing :)
 

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Quote from optioncoach:

I would love to see when that happens lol
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Good point and not accepting it is our problem. Because it has not happened , it does not mean that it can not happen. You should be prepared for that. Let me give you another example. When you short a Call option (naked), they say you are posing yourself to "unlimited" loss. I know that "unlimited" does not happen a day but no stock has ever gone up "unlimited".
 
You have to be able to reliably discern patterns in the market; triggering those (in a mechanical manner) is what actually makes you money.

If you're thrashing, constantly worried about missing the market, or getting wigged out about your trading, it's time to step back and stop to re-assess.

Take a break from trading live.
 
bull and bears
Trading the emini is the hardest thing then comparing to stock
Yes u can make money faster but u can also loose faster
u have come out with a open cry that u are loosing there are a lot of pll out there who re loosing or waiting to be blow up by averaging down and beleive me they hide how much they have lost and how much they are down ause it is embrassing
I have seen a friend who blew $10 K in may and june i think he has $1000 left but he does not tell any one cause he is depressed
I saw him loosing in 1 day $2500 trading 5 ym contract and everytime he keep averaging down and then market was just going down and he kept saying i dont think it can go any lower
Well u never know that market it went so low that he bailed and the martket came roaring back( could have lost $500 )
So u see the market is very trick and a stop loss need to be there
I would only suggest you LIKE ( STEVE T ) said
Study the chart study the support the resistence r 1 r2 r3
S1 s2 s3 pivots points Gap fill etc
And good luck
Thank,s for yout honesity
 
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