Read some of my posts in the ES thread I started. I am now concentrating on ORB, BMC and TFC as mentioned in those posts. As I mentioned, it is best to master outside day trading first by waiting for breaks of PDH and PDL. When you get good at this, you can then bring in the S&R lines to trade intraday, but there are a few other things you have to watch closely when trading intraday, as you can get whipsawed all over the place if using tight stops similar to what you can use for breaks of PDH and PDL. Unfortunately, no matter what any person tells you or shows you, the only way you can learn is by trading live, with many winning and losing trades. There is no other way to get the experience, as you can not get experience by just reading and listening to what others say. In fact, the worst thing you can do is listen to others, as it will do nothing but waste your time and lose you money. Just sit back and think about what you are doing. You are trying to take money from people who are trading billions of $$ of other people's money (OPM), who get paid large salaries no matter what happens the OPM. They would not be trading over 1K contracts on the ES if it was their own money, that is one thing for sure. Our objective, as a small little retail trader, is to sit back and not get sucked in, wait for the best opportunities to present themselves, which are the low risk ones, and then jump in and out and say "Thank You, Mr Eastwood". If you approach trading the same as the rest, then you will more than likely fail like the rest. You need to adopt the correct mindset from the start. The more you know can be a major disadvantage when it comes to making money trading. One thing you must know about, is fully understanding risk, for without it you are doomed to failure in the long run. After many years you will look back and say to yourself, "if only I knew then what I now know". I do not like when I see idiots posting as if they know everything about trading, as the reality is that you do not have to know much, but you do have to know about how not to lose too much money so that you can make money when the opportunities present themselves. It really is that simple, which is exactly why most never get it, and the same old things just keep on happening over and over. These sites are a prime example. Go back 7 years and read some posts. I bet you it will be just the same old stuff with a few different heads.
Thanks a lot for your posts! I will definitely go back and check out some of the material here on ET! Don't know why I haven't gotten around to it.. but I agree the material is here to assist me to be successful!Read some of my posts in the ES thread I started. I am now concentrating on ORB, BMC and TFC as mentioned in those posts. As I mentioned, it is best to master outside day trading first by waiting for breaks of PDH and PDL. When you get good at this, you can then bring in the S&R lines to trade intraday, but there are a few other things you have to watch closely when trading intraday, as you can get whipsawed all over the place if using tight stops similar to what you can use for breaks of PDH and PDL. Unfortunately, no matter what any person tells you or shows you, the only way you can learn is by trading live, with many winning and losing trades. There is no other way to get the experience, as you can not get experience by just reading and listening to what others say. In fact, the worst thing you can do is listen to others, as it will do nothing but waste your time and lose you money. Just sit back and think about what you are doing. You are trying to take money from people who are trading billions of $$ of other people's money (OPM), who get paid large salaries no matter what happens the OPM. They would not be trading over 1K contracts on the ES if it was their own money, that is one thing for sure. Our objective, as a small little retail trader, is to sit back and not get sucked in, wait for the best opportunities to present themselves, which are the low risk ones, and then jump in and out and say "Thank You, Mr Eastwood". If you approach trading the same as the rest, then you will more than likely fail like the rest. You need to adopt the correct mindset from the start. The more you know can be a major disadvantage when it comes to making money trading. One thing you must know about, is fully understanding risk, for without it you are doomed to failure in the long run. After many years you will look back and say to yourself, "if only I knew then what I now know". I do not like when I see idiots posting as if they know everything about trading, as the reality is that you do not have to know much, but you do have to know about how not to lose too much money so that you can make money when the opportunities present themselves. It really is that simple, which is exactly why most never get it, and the same old things just keep on happening over and over. These sites are a prime example. Go back 7 years and read some posts. I bet you it will be just the same old stuff with a few different heads.
Do not waste your time checking out anything, as you will not find anything worthwhile here, or on any other site also. The internet is full of people who pretend to be someone they are not. It is a great place for most to fantasize and dream. It is very easy to see real fast if the person knows what he or she is speaking about, as in ask them to post details of live trade with chart marked up. You will be amazed how many so called experts back down when asked such a simple thing to do. Hypothetical trades are just that. They are not worth a dime. You lost money trading in the past because you did not know what you were doing. You did not know because you adopted the same approach as most do. If you follow the crowd then how do you expect to get anything different. If I was you, I would stop writing your thoughts in public, as it is a complete waste of time. Get a simple notebook, write down the date for each day, write down the monthly, weekly, daily and hourly High and Lows, and the current price. That would be a very good starting point to get you focused. Of course, the odds of you doing it are very slim.
