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NoviceTrader

I started a previous journal. They moved it. Today is my first day of trading real money. I've been running a simulator for the last month. Briefly describing my system. I watch 3 MA's, MACD, Volume, Pivots. Trying to catch major trends. This was a great day to begin trading real $$$. I suppose I'm considered a discretionary trader. I will publish my results by points assuming 1 contract.

My goal each week is 20-25 points
 
This trade was a mistake. Overzealous to be in the market. Breakout was never really established. Got burned. Patience, Patience, Patience,
 
I've decided trying to do this while watching the ES is a horrible idea. I was hoping it would calm my nerves. Not happening. I will post results at the end of day. With exact times not bar periods.
 
Quote from NoviceTrader:



My goal each week is 20-25 points
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I think you are setting your sights far too high. My brother, who is, far more likely than not, a better trader than the vast majority of people on this board, has traded that contract for the past two years and is only averaging 12 points per week. It doesn't sound like much, but multiply it by the 20 contract positions he normally takes and it certainly adds up.
 
Quote from alfonso:



I think you are setting your sights far too high. My brother, who is, far more likely than not, a better trader than the vast majority of people on this board, has traded that contract for the past two years and is only averaging 12 points per week. It doesn't sound like much, but multiply it by the 20 contract positions he normally takes and it certainly adds up.
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A billion here, a billion there, and pretty soon you're talking about serious money.
 
Quote from NoviceTrader:

I've decided trying to do this while watching the ES is a horrible idea. I was hoping it would calm my nerves. Not happening. I will post results at the end of day. With exact times not bar periods.
More...

Also will be a great way to go through what you did right & wrong rather than worried about whether you filled your trades in - spoos can catch ya when you least expect it!
 
Quote from John Q Public:



A billion here, a billion there, and pretty soon you're talking about serious money.
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John Q, I must admit, I find your facetious style highly entertaining. The one about the sugar market of '06 being a great one yes-sir-ee was side splittingly funny!

BTW, you wouldn't happen to play bridge would you?
(See, I'm learning.)
 
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