FastTrader Futures-Trading Journal
- Thread starter EMini-Player
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English is not my first language, so I may have missed some deep erudite meaning in the translation, but I have a clear and distinct impression that the writer, a Mr. Porgie is what we in the European trading fraternity call a loser.
Mr. Fast Trader, if by " noodle " we mean the application of intelligence, then the noodle is by no means the enemy.
On cursory analysis of your posts, I suspect you are trading futures because they require less capital due to the rules as they apply to daytrading common equities. This is a mistake, you must save capital and graduate to common equities.
In graduate school they taught me that the market moves approximately as follows:
1. News ( in all its kinds, earnings, economic reports, surveys, political, other markets, disasters, etc. etc.)
2. Prime moving stocks (giants, like IBM, Intel, Msft etc)
3. Futures
4. Trading stocks (my suggestion was BRCM, but what ever)
There is a lag time from 1 to 4 which you can exploit. Thats it.
Thats it!
If you want to trade prime movers, or futures, you better be damn good, otherwise abide by the commentary of the Scientist, and find an equity.
When in the United States of America I learned an expression, I belive it was "horseshit". I am not exactly sure how it differs from the more common "bullshit" but I think it applies to the practice of looking into ones own mind to find out why they are having trading problems. Find an equity, remember the general order of movement as stated above, and prosper.
Best Regards.
Villefranche sur Mer.
Sorry if this is a little off-track regarding the philosophical depth of this conversation, but:Quote from nkhoi:
may be he mean if MA look like this
That is one hell ugly piece of thumb. I hope that doesn't go into the soup with the noodles.
If it does, well then I don't think Moving Averages should be your major point of concern.
In this rare particular case, a professional trader should consider the outlay for professional manicure.
Only when the last finger manicured, will you see that Maggi Instant Asian Noodle Laksa can be eaten.
Scientist.
Thanks for your thoughts, but as I've mentioned before, capital is not the issue. I'm not bound by the PDT rule (hint: my acct is over $30K). I've traded stocks, options and futures and from what I've seen, all of them require proper analysis and execution, but if you're good, the biggest payoff is in the futures market due to the leverage and massive liquidity. So, if I'm going to work at this and put in the time/effort to learn trading, I'd rather do it in the futures market. I appreciate your suggestion to move to a different market, but I will be sticking with futures; primarily ES.
Thanks,
-Fast
That's fine just remember that the definition of insanity is doing the same thing and expecting different results.
Regarding the ZN and ZB futures contacts, lobster made some recent posts where he claimed to be making about $3000 per week in those markets (1 contract), and losing about $1000 per week in ES.
And I'm not saying, I want to continue doing the exact same thing in ES...I want to improve my trading in ES. I don't think switching instruments is the solution here, although I will check out the bonds once I get some free time.
-Fast
Well the case is clear. He doesn't know how to trade ES.
If a market is harder for newbies that generally means that the pro's are making more. Particularly applies in ES.
$3,000 per week per car can be done on ES, particulary with a fair commission structure. I did 13.5 pts net on ES today, and no long swings at all. Scalping. Each just targetting 2-4T per trade.With reasonable comms, it would have been over 20pts. I've been surpassing over 10pts/day for almost 2 weeks now.
Don't get Fast off track with ES. If he wants to trade futures, ES is king. King of liquidity, world-wide. Nowhere else can you see $500M go over the counter at times within 2-3T? That's like the GNP of a few small African states. Arbs or not, there are some serious people making big money in this market, otherwise there wouldn't be such hefty liquidity. Money must go somewhere. Think.
Scientist.
My broker says scalping is exiting with less than 2 points...what does your broker say? She also says.....market going up...BUY.......market going down....SELL......Find the secret number and you make lots of points...imho...I want to reveal these secrets......market can go up, down, or sideways...befriend the trend...buy low, sell high...
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