i am happy to be trading well.
can you ever recover the cost you or your parents spent on your education?
easiest money in my life
- Thread starter padutrader
- Start date
can you ever recover the cost you or your parents spent on your education?
you are not counting the fluctuations it did not go up 354 points in a straight line.
so theoretically if you catch all the fluctuations you can make a lot more.
THEORETICALLY not realistically but a guy can dream
If you were to continue to trade well,how long do you estimate it would be before you recover the 300,000 USD?
Are you planning to ramp up re contracts etc?
at my present rate trading 2-4 contracts i make 1500 a day so 30000 a month so 10 months
True, in theory you can make a LOT more.
But that's not at all easy.
A trader making say 60 SPX points per month CONSISTENTLY is doing pretty well IMHO.
Successful long term consistent traders strive for simplicity. Trading 40 times a day with one of the toughest symbols (ES) is not that. And oh BTW to make 40 winning trades, you need to trade more than that. Much more. At least 50 times if your winning percentage is 80%.
Friday one could have (I didn't since I've been fixated on NQ for a while now) bought just ahead of NFP, if you were daring, and made 40 points in an hour and 17 minutes and then later on there was another move of 31.5 points. 1 trade or 2 not 40, 50, 60 ........ trades
Brooks doesn't trade, he markets and teaches.
Friday one could have (I didn't since I've been fixated on NQ for a while now) bought just ahead of NFP, if you were daring, and made 40 points in an hour and 17 minutes and then later on there was another move of 31.5 points. 1 trade or 2 not 40, 50, 60 ........ trades
Brooks doesn't trade, he markets and teaches.
different strokes for different folks
i do not trust the market enough to stay with it more than 10 min.
whether he trades or not i give a shit.
he teaches THANK GOD
and i finally learnt.
not his fault i could not learn for 20 years.
trend following seems simple and i used to simply trade the trend.
this was fine when the trend was strong.
when it was not strong then traders would trade counter trend and that would catch me on the wrong foot.so i always got the feeling that i was doing it opposite to what i should be doing.
once counter trend traders get a smell of profit and taking action the counter trend would break a trend line and then 2 leg down would start. This 2 nd leg momentum may be strong as the 1st leg or it may be less strong sometimes in channel.
so if the second leg is not as strong as the first leg, then once you get the expected two leg structure -the end of structure- if you get a good reversal bar/set up you can take the trade.
if the second leg is strong and the counter trend move did not break a trend line then you can trade the second leg as a continuation of the first leg trend.
this is all you have watch for when trading.
this is Brooks and i did not understand this and lost a lot of money till recently.
THIS IS what i think YOU HAVE TO WATCH FOR. but there are many ways to play this market so if you are lost you can try this. OF COURSE this is no magic BULLET
I am not saying trading time easy or simple to see this market action and there are many variations of this but this is the basic template.
i hope this helps.all of you.
this was fine when the trend was strong.
when it was not strong then traders would trade counter trend and that would catch me on the wrong foot.so i always got the feeling that i was doing it opposite to what i should be doing.
once counter trend traders get a smell of profit and taking action the counter trend would break a trend line and then 2 leg down would start. This 2 nd leg momentum may be strong as the 1st leg or it may be less strong sometimes in channel.
so if the second leg is not as strong as the first leg, then once you get the expected two leg structure -the end of structure- if you get a good reversal bar/set up you can take the trade.
if the second leg is strong and the counter trend move did not break a trend line then you can trade the second leg as a continuation of the first leg trend.
this is all you have watch for when trading.
this is Brooks and i did not understand this and lost a lot of money till recently.
THIS IS what i think YOU HAVE TO WATCH FOR. but there are many ways to play this market so if you are lost you can try this. OF COURSE this is no magic BULLET
I am not saying trading time easy or simple to see this market action and there are many variations of this but this is the basic template.
i hope this helps.all of you.
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i cannot trend follow because i cannot swing trade.... i cannot swing trade because with TST daily loss it is very difficult.
so i scalp and, though Brooks says quite rightly, you should swing not scalp, i only scalp second entries for 3-4 ticks with 1-2 contracts.i do not get over smart and i stay disciplined even thiugh sometimes i may 4-5 points in ES i take 3-4 ticks . slam bam thank you ES
i usually get 100 % win rate but 90 % is the least acceptable.
because commissions and costs are the elephant in the room and that will kill me if i keep making a lot of transactions scalping and losing.
so i scalp and, though Brooks says quite rightly, you should swing not scalp, i only scalp second entries for 3-4 ticks with 1-2 contracts.i do not get over smart and i stay disciplined even thiugh sometimes i may 4-5 points in ES i take 3-4 ticks . slam bam thank you ES
i usually get 100 % win rate but 90 % is the least acceptable.
because commissions and costs are the elephant in the room and that will kill me if i keep making a lot of transactions scalping and losing.