Uh, what?
Care to translate to English?
Anyone here making over $100k just trading ES ?
- Thread starter wiesman02
- Start date
Uh, what?
Care to translate to English?
Paul Blart?
I guess you only thought you got it, huh? To be fair, you are not the first to confuse luck with skill.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=194677
This manic depressive state can go on for years. Make money = genius. Lose money = clueless fcuk.
One day some event happens out of the blue, and account gets blown outta the water. Seen it happen way too many times.
There is a process in order to make yourself rich from trading. And to get real, there can be no success without a reliable methodology.
Lets go to the principles required from your starting point.
Learning
1. You need to start serious learning about the market. Choose a futures market in a single instrument (eg ES,CL) to focus your study.
2. And your learning then needs to be as long as it takes to end up with a reliable methodology.
3. Back check manually to establish the validity of your methodology. If there is not a consistent outcome, continue to revise your rules.
Trading
4. Choose daytrading. Never dive into actual live trading without long study and testing.
5. Know the metrics of your market and get to know the ballpark as to the amount of points your market offers daily.
6. Do simming to experience trading action in the methodology you have devised or adopted. You do this to prove the reliability of your plan and system. If the outcome is not good enough, recontinue your study and revise your rules.
Progress
7. Start live trading. Buy the upswings; sell the downswings.
8. Trade with one contract only in one instrument building consistent net gains without ever over-leveraging.
9. As a consistent player you must let your net gains accumulate to accomodate increasing your position size in ratio to your growing capital. You cannot become rich without consistent success and increasing your position size.
Lets go to the principles required from your starting point.
Learning
1. You need to start serious learning about the market. Choose a futures market in a single instrument (eg ES,CL) to focus your study.
2. And your learning then needs to be as long as it takes to end up with a reliable methodology.
3. Back check manually to establish the validity of your methodology. If there is not a consistent outcome, continue to revise your rules.
Trading
4. Choose daytrading. Never dive into actual live trading without long study and testing.
5. Know the metrics of your market and get to know the ballpark as to the amount of points your market offers daily.
6. Do simming to experience trading action in the methodology you have devised or adopted. You do this to prove the reliability of your plan and system. If the outcome is not good enough, recontinue your study and revise your rules.
Progress
7. Start live trading. Buy the upswings; sell the downswings.
8. Trade with one contract only in one instrument building consistent net gains without ever over-leveraging.
9. As a consistent player you must let your net gains accumulate to accomodate increasing your position size in ratio to your growing capital. You cannot become rich without consistent success and increasing your position size.
