Mentor
- Thread starter bobvago
- Start date
Master, or try to master, the art of the movement;
I don't think no trader can truly Master the Market...the best one can hope for is to go with the flow, be in harmony with it, and understand the lady.
You almost have to develop a feel, or sixth sense, or intuition.
Because that's what the market is: Part Art, Part Science.
Question why the market moves the way it does on a daily basis.
Study and study that
You mentioned 'luck'...remove that word from your trading vocabulary now.
If you're a big believer in that, you're just gambling or doomed to fail.
Also remove Hope, and Maybe, and Wishful Thinking...from your trading vocabulary as well.
You have to be tactical and pro-active, no wishy-washy weird emotional stuff.
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Usually when someone comes to ET forum looking for help...they just start a trade journal @ https://www.elitetrader.com/et/forums/journals.29/
Next, post your trades and thinking behind them for a minimum of one month...then ask a ton of questions. Most reply will be junk but I've see a few posters at this forum offer good advice.
Its not mentoring but you can quickly determine a few things you're doing wrong.
If your definition of a "paper account" equals trading for several months on simulator in your broker trading platform...its a good start. Yet, if you're definition of a "paper account" is different than trading on a simulator at your broker...that could be the start of your problems.
Yet, if you're going the "algorithm route"...why not ask for help @ https://www.elitetrader.com/et/forums/automated-trading.48/
There seems to be a bunch smart algorithm traders here at the forum. Maybe someone can help you there.
Same question(-4) - different day(0) - same answer(+4), to generate profits you need to have the knowledge of close to a millionaire. Which means anything under $100s/hr (unlikely you will find them) then the cheaper it is the more time (years) you need to spend training to gain experience to offset the lack of knowledge. Simple.
As a little side node for amusement, CL is the most manipulated market on the planet, it's the bipolar approach to trading with a fat-tail payout, not generally the place to be for rookies.
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But it moves everyday.
%%
I like Dr Al Brooks[ES] articles in MODERN TRADER. he has a website also.[aka Futures magazine ]For starters, here is some help......I like better trend$ than ES but it's highly liquid.
NO such thing as luck,bobV. What you call luck -- i call a small sample-John Trend-folloWer Henry. Wisdom is profitable to direct. No such thing as luck + i wish you well
How is ES dead? it still trades way more volume than the other index Mini's... there's plenty of opportunity on a daily basis. I used to trade NQ but switched to ES a few years ago, much better volume and more predictable moves...