you are confusing me with the facts Mr. Subliminal. How am I supposed to be blissfully ignorant with stuff like that on this board ? Aren't we all supposed to churn like madmen and hope ?
Originally posted by Mr Subliminal
I opened an account with Advanced Futures to trade the e-minis using the X_Trader platform. The s/w was installed on Friday and I spent yesterday familiarizing myself both with it and the gyrations of the ES and NQ contracts. This morning I decided to get my feet wet with 1 ES contract using a tight 2 point stop loss and profit target (1:1) - my focus was on the mechanics of execution. The profit target was entered immediately upon entry, while the stop was mental. Coming from the old hotkey Watcher school, I was pleasantly surprised by the ergonomic and functional ease of mouse clicking that the s/w affords, and even though it has hotkey capability, at this stage it appears I will stick with the rodent. Executions were fast and the connection stable. After 5 round trips I quit trading for the day.
+5.50 pts / 5 RT

Sweet MS!!Originally posted by Mr Subliminal
I opened an account with Advanced Futures ....
5 round trips I quit trading for the day.
+5.50 pts / 5 RT
I have the highest regard for stock777's sense of humor, so it was rather strange that I took him literally this morning. After my first trade went against me, instead of closing out I bought another contract. Instead of closing out the error, I mistakenly bought yet another contract. So I'm long 3 ES. I corrected this, and it wasn't long before I did the same thing with 2 contracts. I kept my stops tight, but this didn't prevent me from being down 20 points. I then embraced the error and traded 3 contracts in an effort to scalp my way back, with the intention of quitting trading if I got to -22 points. Fast forward to 11:54am, I've done 90 round trips (3-contract trades) and am down 0.25 points - time to quit for the day. Still feeling my way around with the software, the instrument and my style. Not that it's a consolation, but this frenetic scalping would have cost me about 6 grand in commissions on the Nasdaq (instead of $441). My spirits are high and I'm treating myself to an evening out with a very nice lady in need of some grandfathering.Originally posted by stock777
>>>""""In the event of an execution error, such as buying instead of selling, or opening a position in the wrong stock, the error should be reversed immediately, and if the original trade criteria are still valid, the correct trade should be entered into without too much mulling or regretting.""""
C'mon, real traders embrace the error and run with it as if it was a deliberate trade. Many make most of their profits on trades like this, as the trades intentionally entered usually suck.