ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Yes, that is trading as far as I am concerned. Who said one has to be leveraged to the hilt, Global Futures with $300 margin?
He is following a trend the way he finds appropriate, his risk is controlled, so is his profit
Ok, his reward is perhaps inappropriate considering the risk, but let's face it if markets do go to 0, then paper money will not matter any more. He may end up sitting on a position for a long time perhaps, but it's his game.
The problem that people face in this game is once confidence is built in market's direction they start to average into a position increasing risk as margin increases and reduces the capital.
Hi fed,
Just ask yourself "who cares, who really cares what you do"
It is nobodies business but your own.
If someone comes back on you and accuses you of sim trading
or not even placing trades on a sim at all.
Just ask yourself "who cares, who really cares what you do"
Remember, only around 3% of Independent Traders survive the journey and become profitable ... only 3%
All you have to do each and every day is make absolutely certain that everything you do and say is another step towards the 3% Club.
But unless you really care, it is fair to say that nobody else does ... after all, it is your life.
So you go for it and give your trading 110% of effort and concentration.
good luck
sweet rally 
Notice how when you entry is around a r10 you have a much higher probability of making quick money but when you chase a long you catch heat?
Just curious why you sometimes chase price instead of just buying pullbacks especially in a mean reversion instrument like ES ?
ES has such a strong upside bias in general, that sometimes I doubt whether I will get any sort of pullback at all, so decide to chase it on occasion.
Has a lower hit rate in terms of profitability, but still successful overall on such trades thus far.
What's wrong with using 210 to 1 margin if you are disciplined and have a profitable edge ?
Concerning FED..'s trading he is truly doing what a lot of us cannot do.. follow the market blindly..
Congrats to him.
BUT his super low leverage is building risk control habits in his mind that will become expensive once he trades larger (FED you ARE going to trade larger someday?). It's almost like SIM. Reminds me of a friend of mine that had 100 share of DRYS around 85. He recently sold at 6 with a huge loss and as it declined he told me "it's only 100 shares".
A trader that can combine FED's market following AND good money management is truly awesome.
And finally.. FED.. EVERYONE get's humbled by the market sooner or later and it's actually healthy. I hope you are here when ES changes to see how you adapt. ES WILL change.
Congrats to him.BUT his super low leverage is building risk control habits in his mind that will become expensive once he trades larger (FED you ARE going to trade larger someday?). It's almost like SIM. Reminds me of a friend of mine that had 100 share of DRYS around 85. He recently sold at 6 with a huge loss and as it declined he told me "it's only 100 shares".
A trader that can combine FED's market following AND good money management is truly awesome.
And finally.. FED.. EVERYONE get's humbled by the market sooner or later and it's actually healthy. I hope you are here when ES changes to see how you adapt. ES WILL change.
It is tough to survive flash crash times. IMO if more people were to do what ICF does they would last a lot longer in the game
He trades a £10k account betting around £8 per point (as far as I understand it), so if he locked 7% last week that was a very good return indeed, if he does that for 10 weeks he can survive any future market crash. Simples!
It's when he starts averaging down he may realize that market will not be on his side if he over commits, not so much the market, but his management may become his enemy, just like Saxon22, but I think Sax is a fantasist.
He trades a £10k account betting around £8 per point (as far as I understand it), so if he locked 7% last week that was a very good return indeed, if he does that for 10 weeks he can survive any future market crash. Simples!
It's when he starts averaging down he may realize that market will not be on his side if he over commits, not so much the market, but his management may become his enemy, just like Saxon22, but I think Sax is a fantasist.
Quote from volente_00:
What's wrong with using 210 to 1 margin if you are disciplined and have a profitable edge ?
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