I think you have a great point here. So what exactly is this common denominator?
But, seriously, OP seems to make no more than 10 trades in a day. How is HFT, which flips on a dime, affecting his trades in anyway?
How do you determine daily profit target?
- Thread starter povstanets
- Start date
But, seriously, OP seems to make no more than 10 trades in a day. How is HFT, which flips on a dime, affecting his trades in anyway?
Thought I was on elitetrader.com not hobbytrader.com
...My mistake
Yah-yah we get it - Some folks like to knit, you like to trade
...My mistake
Yah-yah we get it - Some folks like to knit, you like to trade
Trading covers the cost of my mountain biking and climbing hobbies.
It's a good hobby, but would drive me crazy full time, but it's there as an option if/when required.
It's a horrible hobby, playing with money. If my life was so un-interesting that playing with money were my most interesting option of activities, I'd probably end it.
Interesting, on a trading forum where I assume you err trade with the aim of doing it for a living, 1 day if ever you get good enough right ?? We could class that until your profitable and full time as also a HOBBY could we not ?
I have many hobbies, it's the hobby I spend the least time on, to busy when the trading is good
Spending $3000+ on a mountain bike hell no, unless it's trading profits then I view it as well a free bike and what the hell, if I had to work for it, I'd never waste that kinda money on toys.
povstanets,
Please explain why or how you made the decision to trade the S&P 500 Emini ES futures versus trading any other trading instrument ?
If you trade 2 contracts you can lose twice as much - agree?
You want to set a daily target in a market where BIG corporations spend millions and millions of dollars to develop automated trading to take minute profits every few seconds - are you really sure you want to take on these people with a few textbooks and a few dollars in your account!
And now you are talking about being down 12 points in a day!!!!!!!!
What might help you, is, think of a river, and how water can not flow up, but can meander in and out of all the crevasses as it finds its way down to the ocean.
This is not a futures chart, but it is close enough to give you an idea of what you might be better off looking at, as I have no idea what you are looking at now to come up with throwing away 12 ES points per day to the real professionals - for, the ES is their home ground and they don't think twice about beheading the small little retail traders who decide to pay madame guillotine a visit
Hope this helps you come to your senses?
As for bad days - never let them happen, every day is a trading day - win or lose!
J_S
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What Market Data Subscriptions do I need to have such a screen on my PC? I was asking the same question in a new thread: http://www.elitetrader.com/et/index...ount-what-market-data-required-for-es.296389/