This an ok way to trade IF you have capital. The thread starter does not have the capital to trade this way. When he puts on 1 contract , he is already at over 2 to 1 leverage--forget about 10 or 20 contracts. A trader with this small a grubstake, MUST be right or get out immediately. Capital is the only true edge in trading. People with capital will eat you for lunch. After your 30 k is gone , you will see the market retrace to your breakeven point. I suggest one contract and BE RIGHT.
My emini daytrading journal
- Thread starter emini500
- Start date
Let me ask you what makes you exclaim WOW what a trade.
Is it because your indicators allowed you to make this decision or that you kept shorting and got bailed out by a pullback. Your success is based on learning the difference.
best of luck..
Is it because your indicators allowed you to make this decision or that you kept shorting and got bailed out by a pullback. Your success is based on learning the difference.
best of luck..
too late to buy. you should have bought at 1315 and added to the position as the market dropped until it bounced back to breakeven.
just yanking your chain. be careful out there!
good luck. hope you hit your target and get your quota for the day.
PT
I trade off of price action and banking on a pull back in a trending market. It was wild day for me and not everyday I have to put in today. It was a wild ride for me, and I say that cause I was in a bit of a loss. I kept my head on and followed my plan no matter what the loss said..... The market slowed down and allowed me to scalp for a little bit. It lowered my average and was able to queeze out a profit. Todays action was news driven and my plan survived the attack today. I don't use a indicator but a plan.... when market does this i do that. Not all news effects the market in a big way so I stick to my plan of the market movement. It goes against the way most people trade but it works for me.
In day trading and in most shorter term and positional trades, I would disregard daily news. It has little effect that price and indicators could also show you. Forget news. On the one hand here you said you trade off price action, but then said the action was news driven-- just use the action and forget the daily news.