candlesticks, support/resistance, volume {except for the few true experts} very few, day high/low........all of that is in same box.........that is the stuff that most try to build on.....that is why most fail.........they don't realize it is themselves who is the problem.........it took me almost 5 years to believe that.......divergence/convergence/oscillators getting locked up/down overbought/sold.........guessing what is next instead of system giving the highest probability and u having the ability to read what the system is telling you.......too much stuff to build confidence since there is always something telling you the great signal might not work as you anticipate........mind bias........get "trading in the zone" by mark douglas before u trade real money unless u r blowing the socks off the market....george
ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Do you follow any other markets? I monitor quotes for e-mini Oil, EUR/USD, GBP/USD, also S&P 500 companies that individually can have an impact on the S&P index futures - GE, MSFT, XOM, PFE, C, WMT and AIG. I am considering using quotes for Natural Gas at the moment. Also, I have access to DJ news wire, now I know that some traders do not think that having access to news is essential, in some ways I would agree, but I mainly use it as a backup. There are certain types of news info that most certainly will have an impact on trade decisions, especially the ones that suggest NOT to enter into a trade. I remember once certain info leaked that there was fire spotted in the Eiffel Tower in Paris and that terrorist activity could have been linked, immediately most main indexes took a bit of a temporary dip.
Anyway, any other suggestions here guyzzzz?
I follow EN,GJY,GCD,GAD,GEC,S,W,C,TY,LC,LH. I don't follow any news except for long term news. I believe that the price action and indicators show where the trade is going. I do not follow any stocks. The only stocks that I have ever owned have been in mutual funds. I'm a futures and options guy totally. Actually right now, my entire portfolio outside the trading account is totally in cash ie Fixed Rates because I believe we are in for downside. I will begin reinvesting in mutuals when it begins to look like we will be at a bottom.
A bit off subject here, since you mentioned Fixed Rates deposits. Have you looked into the Silver market? I don't trade silver futures, I don't see how anyone independent can trade them successfully. But I have invested in physical silver though, I follow Ted Butler's analyses, he is incredible, the only analyst I have great respect for, also my cousins co-own a silver mine.
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Looks like time told it was short covering
b1/b2............a 44% system is a brain killer..........if you find why all the failures are occuring it will help a lot.........i can tell you if you transfer your system and adjust it to the 10 min...........i am assuming you read the 3 minute chart .........or 5 ..........both losers, trust me..........too much information...........when you go to higher time frame, each move will result in smoother pictures, more orderly, dependable, more readable price action.............optimize your system.........find the longer chart that fits what you feel comfortable with............too many losses regardless of bottom line looking okay.........you are doing great with es, just can do 5 times better at least.........the short charts will hammer you everyday..........truth can be ugly........most tout the short charts, most lose.........your risk reward should be about 1 risk to 3 reward..........intraday emini's.....time will reveal porgie being helpful........or trying to be.........
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