Finally, I want to give up ES trading!!!!!!!!!
- Thread starter digital_tony
- Start date
Easy answer...
Backtest your trade method on many different trading instruments (e.g. Emini YM, NQ, TF, Oil CL, Gold GC, Eurofx 6E futures) along with Emini ES...
See which one of the trade instrument performs that best in your backtesting in comparison to Emini ES. If something else performs better...its obviously you should stop trading Emini ES and switch to the other trading instrument that outperforms Emini ES if your goal is to be profitable.
One of the hardest things newbie traders must learn is to never get married to their trading instrument as if nothing else exist.
I could hardly stop trading ES Every DAY at home.
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take the spooze needle out of your arm.
could have been worse.
you could have been addicted to online poker.
you don't get to piss in the tall grass until you have 10,000 hours under your belt.
navel gazing et al. is required.
just the way it is........
you have paid to play.
tax loss time.
we have all been there and done that.
call don bright in vegas and expect to start from ground zero.
when they puke them out, make sure you are short.
cheers,
s
..................................
take the spooze needle out of your arm.
could have been worse.
you could have been addicted to online poker.
you don't get to piss in the tall grass until you have 10,000 hours under your belt.
navel gazing et al. is required.
just the way it is........
you have paid to play.
tax loss time.
we have all been there and done that.
call don bright in vegas and expect to start from ground zero.
when they puke them out, make sure you are short.
cheers,
s
Allocate money to CTAs, Tony.
And allow yourself a LIFETIME $5,000 stop-loss in your own personal futures trading. Trade 1-lots if you have to.
You have the power.
-Chi
Well, I have a long time background of trading stock, and have a relative good profit record. Now, I am still managing two transaction accounts, one in the bank for stock trading and the other one in IB just for ES trading. As for stock, I am not a day trader, I usually focus on consumer and luxery sector, like M, COH, EL, AXP, YUM, SbUX, and I have cashed in profit nearly 25000 USD in the recent year, now I am still holding the positions of M, CMCSA, SBUX. But, unfortunately, I always lose money on ES trading since 2010.
When trading ES, I only use 2 K Lines of 5min and 20min, which as a technique indicator for analysing. Most of the time,
I can earn amount of small money of 100-150 USD in a short time when starting every day's trading, but as the time goes on
I can't control the impulsion of clicking and make the profit swiped away when the market moves to the direction against my anticipation.
I wonder here if a ES daytrader is really too difficuly to be a continuous profit maker? OR the best method for ES trade is to entering the market at a good point and holding for several days?
Thanks for helping!
It's difficult to be consistently profitable trading just the ES because it goes through periods that will chop up most traders. I trade the ES when there's volatility and range, but walk away when it's quiet and choppy. I track three makets (ES, 6E and CL) and trade what's moving best.