Duref Mentors Lucky

Quote from Duref Mudgins:

You laugh. You might consider the impact on your trading if every family in America follows my lead and trades one ES every day, say 100M contracts. We'll be getting our brokerage account deposit money from the Treasury in the next round of bailouts.
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Does the Treasury mail out overseas or should I use your mailbox.

regards
f9
 
F9, it has not escaped my attention that you are not being much help here. Kindly give the nice lady some intelligent answers to her questions. You can't possibly do any worse than I did.
 
And Lucky, while you are thinking about your obvious trading time frame issues, please consider what kind of income stream you need to achieve and what account size you are willing to risk. Also, since you have family commitments, how much time during the day you can commit to it. I know you and everyone else can see this advice coming: You might be better off getting a job and saving your butter and egg money. Then when you get to be old and worthless like me YOU can become a trader and opine grandly on ET!
 
Quote from Duref Mudgins:

F9, it has not escaped my attention that you are not being much help here. Kindly give the nice lady some intelligent answers to her questions. You can't possibly do any worse than I did.
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LOL, yes he can. :p

j/k :D
 
Thanks, JJ! I was wondering when the B-Team would ride to the rescue! If you don't offer some good advice I am going to be reduced to referring her you-know-where for investing and trading methods. This is no-shit serious here. How would you like to be a phony like me and have someone PM you earnestly seeking advice? Help me out of this jam, jimmy!
 
Quote from LuckyGirl:

Fearless, a margarita sounds like a wonderful idea about now. You are lucky indeed to have the intellect that you have. Cheers to that.

Duref, a triple-E? I would like photo evidence. Is aural sex very different from phone sex?

As to investing, I am still struggling with the concept. To be honest, I had assumed that no successful traders still "invested". What is the attraction to investing versus position trading?
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LG

I intra trade ES and position trade trendy instruments (there is a list of trendy stuff on web/ET somewhere)

I no longer invest in instruments because it requires a degree of trust and that link has sadly been broken.
Consequently, every instrument can be flattened at any time.

But rule of thumb is ES is intraday and currencies etc are driven from the weekly base chart.

I have no preconceived notions of ES each session.
I don't care what it does so long as it does something.

regards
f9
 
Quote from Duref Mudgins:

And Lucky, while you are thinking about your obvious trading time frame issues, please consider what kind of income stream you need to achieve and what account size you are willing to risk.
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Multiple time-frames are good.

Risking greater than 5% of your account is not.

The conservative experts suggest a maximum of 2%.

Try working in that range. :)

Quote from Duref Mudgins:

Also, since you have family commitments, how much time during the day you can commit to it. I know you and everyone else can see this advice coming: You might be better off getting a job and saving your butter and egg money.
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Words to the wise, but trading is for the foolish who dream of freedom and untold riches! :D

Quote from Duref Mudgins:
Then when you get to be old and worthless like me YOU can become a trader and opine grandly on ET!
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Just ... lol :p
 
There you have it, Lucky! I doubt it gets any better than that. Swing trade momo stocks, trade index futures for day-in-day-out bread-and-butter, don't invest, and don't bet the farm. Just like I said do. Told you you'd get widely varying opinions.
 
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