FastTrader Futures-Trading Journal

[EMini-Player]

Quote from T-REX:


Let me help you out. Withen the next 3-5 days the market is going to top out. You can get ready to take advantage of this opportunity. get ready dude. Win, lose, or draw, I think you are doing a great job.


Be encouraged!

Thanks T-REX. I'll try to call you one of these days. Try to pick up some wisdom from the Master

-Fast

 

[pspr]

Quote from Fast_Trader:


Maybe when I have a 6-figure acct. Right now, I'm off by a few grand

-Fast

Or, plan B: Go find some rich girl, marry her, then sit home and trade all day. When you figure out how to make lots of money consistently, divorce the rich girl and marry for looks!!

 

[nkhoi]

Quote from Fast_Trader:

... My schedule forces me to exit earlier than I'd like to so the positions can't run for larger gains. This is a big disadvantage and I think I should just stop until I can spend more time on trading. What do you think?

tell your broker what to look for when to enter/exit and let them do it for you.

 

[EMini-Player]

Quote from nkhoi:



tell your broker what to look for when to enter/exit and let them do it for you.

Right now, cash is not the objective. The goal and objective is building trading skill so this would not help me. Thanks for the suggestion though.

-Fast

 

[random trader]

Quote from Fast_Trader:

random_trader, how wide are your stops? What kind of profit targets do you shoot for?

My goal is to develop my trading skills where I could trade well full-time, in the future. I have no immediate plans of going full-time. I don't want to swing trade the ES since that's not the skill I'm looking to develop. I want to be able to manage my positions; scale in/out at different prices. That's not really possible trading only 1 hr per day.

But, if you have any ideas, I'd like to hear em.

Thanks,

-Fast

You seem to perceive that you have to watch every tick on the screen in order to trade successfully. That is very damaging to both your health and your account balance. When I do have the occasional opportunity to trade at home, I'll watch some TV, have a nap, and go for a walk. In other words, the amount of time I spent watching the screen is not much different from when I am working.

I don't use fixed stops or targets when I trade. I stop when I don't feel right (which is very rare), and I take profits when I feel it's right. Everyone has a different system; however, I only do one or two round trips per day, if I am daytrading at all. Taking too many trades is another shorcut to the poor house.

 

[EMini-Player]

Quote from pspr:



Or, plan B: Go find some rich girl, marry her, then sit home and trade all day. When you figure out how to make lots of money consistently, divorce the rich girl and marry for looks!!

One guy I know had a wedding planned for next week, but the girl wouldn't sign the pre-nup so they broke up and called off the wedding :eek:

And I know this has nothing to do with anything in this journal. It just popped in my mind when you presented Plan B

-Fast

 

[random trader]

Quote from Fast_Trader:


Maybe when I have a 6-figure acct. Right now, I'm off by a few grand

-Fast

If that's the case, you shouldn't be trading ES. You'll get killed no matter what.

Trade QQQ or FOREX.

 

[EMini-Player]

Quote from random trader:



You seem to perceive that you have to watch every tick on the screen in order to trade successfully. That is very damaging to both your health and your account balance...

Not necessarily every tick, but I believe certain levels do present opportunities that require the trader to be watching the market. For example, I wanted to short the 1060 level, so technically, I could have just left an active Sell order at 1060, but I wasn't 100% sure how migh higher ES would go once it broker 1060 so I didn't feel comfortable just leaving a Sell order. I want to be watching the market when I'm in a position. Maybe I've got this whole thing wrong

-Fast

 

[EMini-Player]

Quote from random trader:



If that's the case, you shouldn't be trading ES. You'll get killed no matter what.

Trade QQQ or FOREX.

I'm not sure I follow you here. My acct size is not an issue...I have more than some full-time traders who trade 10-15 lots.

-Fast

 

[random trader]

Quote from Fast_Trader:


Not necessarily every tick, but I believe certain levels do present opportunities that require the trader to be watching the market. For example, I wanted to short the 1060 level, so technically, I could have just left an active Sell order at 1060, but I wasn't 100% sure how migh higher ES would go once it broker 1060 so I didn't feel comfortable just leaving a Sell order. I want to be watching the market when I'm in a position. Maybe I've got this whole thing wrong

-Fast

I just realized that you're way underfunded to trade ES. Watching or not watching, it doesn't matter. You'll be wiped out and you don't have to waste your few grand to learn that lesson. Move to something smaller.