GLAD I did NOT trade today 12/12

X

xtrader

Checked out all the stocks and sectors this morning. On paper I churned up my account.

The specialists widened the spreads along with very few limit orders in the "book".

Stocks in the same sector NOT trading in sync with each other or the futures.

ANYONE ELSE SEE THIS? or AGREE?

Looks like its time to start my Xmas vacation.
 
Can't say I concur with you.
I hear people say this and I'm not sure exactly what they mean.
Each day is an opportunity. In each trading day there is at least
one opportunity for a trader to take on a trade and make his nut
for the day.

"...Glad I did not trade today..."- - leads me to think that you were in some way convinced that you would have lost money in the market today, rather than made a profit.

Since each and everyday (I), myself am convinced that I will lose more
money than I will make, I'm pleasantly surprised when ending bell rings
and I'm net positive for the day. However, I don't perceive any day being more riskier than any other day in trading.

In fact, I think it is more risky as a trader to stay out of the market on any given day because you think you might not do well.

IMHO, a trader cannot afford to miss a trading day when s/he is a profitable trader.

Take a look at today for instance:

Looks like a pretty nice trending day to me.




my 2c's-



momo

Quote from xtrader:

Checked out all the stocks and sectors this morning. On paper I churned up my account.

The specialists widened the spreads along with very few limit orders in the "book".

Stocks in the same sector NOT trading in sync with each other or the futures.

ANYONE ELSE SEE THIS? or AGREE?

Looks like its time to start my Xmas vacation.
More...
 

Attachments

Yeah, my system only produced 3.75 ES points today .. which is the lowest it's ever done. Just no followthrough on anything.
 
Prox-

What are you talking about?

Today was downward trending like a Son-of-a-*itch!

Might I ask how many contracts you are trading?

If you are trading 10, then 3.75 isn't all that bad I suppose?

Do you trade the NQ at all?


I switched from the ES to the NQ recently because the profitability per trade on a tick to tick comparison for the same time frames has shown
significant divergence. The NQ is considerably more profitable at this time and has been for the past couple of months and moreover, at an increasing pace, that gap is widening in favor of the NQ.

I trade 4 cons on the Es and 5 on the NQ.



-momo





Quote from prox:

Yeah, my system only produced 3.75 ES points today .. which is the lowest it's ever done. Just no followthrough on anything.
More...
 
You just need to BELIEVE IT AND THEN YOU WILL SEE IT.

That's right - you have it backwards - it is NOT "Seeing is beleiving", it IS "Beleiving is the precursor to seeing"

The same is true about there being an easier way - just most people insist that it must be difficult, stressfull, hard work, etc.

Give up those ideas and start enjoying every moment.

The Universe WILL provide whatever you believe it will - like the market, it doesn't care how much you make or lose - it just provides opportunity to those who believe in succcess, and failure to those who believe they cannoit succeed, or that mking money in the market is difficult and nearly impossible.

Want to experience a different New Year - change whaqt you believe and the future must change to fit those new beliefs!
 
Quote from momotrdr:

Prox-

What are you talking about?

Today was downward trending like a Son-of-a-*itch!

Might I ask how many contracts you are trading?

If you are trading 10, then 3.75 isn't all that bad I suppose?

Do you trade the NQ at all?


I switched from the ES to the NQ recently because the profitability per trade on a tick to tick comparison for the same time frames has shown
significant divergence. The NQ is considerably more profitable at this time and has been for the past couple of months and moreover, at an increasing pace, that gap is widening in favor of the NQ.

I trade 4 cons on the Es and 5 on the NQ.



-momo
More...

He was talking about the 12th (the 13th did alright, 11 pts), which didn't perform so well for me on the ES. I use a medium length scalp system and wouldn't benefit at all from trends. I get in when trends change, capture the initial breakout move, and then get out. .. so if it continues to trend, I've missed much of the move. Yeah, I'm currently doing 1 contract to rebuild consistency. I've found the ES works better for scalpers, the NQ works better for trend following types.
 
Quote from GD2KNO:



The same is true about there being an easier way - just most people insist that it must be difficult, stressfull, hard work, etc.
More...

I agree. That's what I really understand by simple. Both conceptually simple and easy to execute. Say, several times a month for an average $10,000 per ES contract per year. Sure, it will not make you rich overnight, but considering how much (or rather little) work you put into it with 4-5 contracts you could make a decent living. But this is obviously impossible according to most on this board which is exactly why it is possible- the majority is usually wrong.

But 12/12 was hard for me too, lost 12 ES pts, still closing this week with 17 pts.
 
You must log in or register to reply here.
Back
Top