a good system/risk management and losses will not be seen often....much less be promoted.....losses are bad any way u slice them........
ES Journal Archive (2006 - 2008)
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not trying to be mean, just hate to see newer traders believing losses are good stuff..they will happen enough without relishing in them..... ..winning is the name of intraday trading business.....coin flips will get u broke, i don't want to see that.
so the word trend does not exist then on the ES? If it does, what is it?
how can it be counter trend if no trend exists...and if the smart ones get their money from the trend why not be doing the same instead punching the button over and over until u get it right??
1. It's nice to see porgie actually dispensing some of his knowledge, it would not be unwise to follow it ... just think, 2-3 pts ES per day, trading with the trend adds up to a lot of steak & shrimp dinners down the line.
2. Funny post Pekelo, but comparing your expertise on your paper trading journal to Saxon22's live trades is like, well, you know ... lay real money on the line in your journal and then you might have something to say. Otherwise you're just another Paper Tiger roar.
3. Trading with the trend may not be easy money, but it sure as hell is consistent. For those who want to trade against the trend, there's always divergences, the higher timeframe, the better.
Good trading,
JJ
2. Funny post Pekelo, but comparing your expertise on your paper trading journal to Saxon22's live trades is like, well, you know ... lay real money on the line in your journal and then you might have something to say. Otherwise you're just another Paper Tiger roar.
3. Trading with the trend may not be easy money, but it sure as hell is consistent. For those who want to trade against the trend, there's always divergences, the higher timeframe, the better.
Good trading,
JJ
Quote from Pekelo:
For weekend extertainment:
When I saw this picture, it reminded me of Saxon's strategy. This technic for fixing a truck can work for a long time, but when it doesn't work....
... in other words, consisdering what he went through on Friday, for anyone who has ever been in this situation (that would be anyone who trades real money), this isn't funny.
Poor taste.
JJ
This newbie, whatever that means, believes that although it's more practical, if not profitable, to trade with the trend, it's also possible to send yourself prematurely to a poorhouse by trading against the trend for being stupid not to have taken a small loss when you had the chance. There's nothing wrong with betting against the house. Just don't be an ass when it comes to taking a loss when you can, not when you have to.
...wasn't related to his strategy, but was the broker's fault. Big difference, although you might be right that my timing of the picture wasn't the best.
Now on journals, I always thought that a profitable papertrade is better than a losing real one, but hey, that is just me.
By posting the picture I just wanted to warn him, that the big one is coming and one can be lucky only so long....We can only hope that time will prove ME wrong...
That's all fine, can't disagree with any of the above. All I can add is that there are calculated predictions or calculated risk vs profit based analyses. Like yourself I also do need some form of confirmation, but a lot of the time it's before reaction/momentum build up. I am a strong believer that for scalping at least a trader needs to be in before reaction, but that is what appeals to me based on how I go about it and I am no guru
Thanks for replying.I think Volente, when using his rule of 10, doesn't look for confirmation/s, let's ask him, Volente what's your opinion, are you in pre-reaction or during? I am not looking for whether that's right or wrong, just opinion.
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