Please help a struggling Index trader

[RAY]

1. You are focused way to much on entry.

Quote: "The core of my trading process is a combination of candlestick triggers, 20, 50, & 200 EMA's, volume, pivots, ADX/DMI & sentiment (mostly TICK). Almost all trades are from a 5-min chart, entries often timed with a 1-min TICK chart. Using TICK extremes, key price points and candle patterns I often fade the YM with well timed entries. I also use ADX/DMI to confirm strong trends, and enter on TICK or price retracements."

WOW, how do you ever make a decision?
You need to realize that these are MARKETS, and they can and will do what "they" like. It should not matter to anyone (you), but I have never even seen an ADX/DMI. If it gives you a nice warm feeling then please use it. If I used that stuff to enter a trade I would feel very uncomfortable (I just Googled it).

2. You say nothing about risk, and what to do to manage risk. (Hint: do you think that an index futures trade at the 9:30 equity open should have the same "set" risk/stop as a trade entered at 11:45am? Hint 2: what is a "set"-in-stone stop anyway? Sounds like free money for the market to me.)

3. You say nothing about an exit strategy. Is is some "set" value too?
The market needs to tell you to get out, not the trades P/L.

4. Where is your money management (Overall position risk vs. your Bank Roll issues, etc.)?

5. Ignore the % win that some have suggested. It is about making money; NOT being right.

6. You are welcome.

 

[ammo]

ring the register,when you're down you think you need a big winner to help your acct and your psyche,the mrkt doesn't care about you ,your psyche or your acct,in real life ,no one does,so get realistic,if your winning and it gets soft ,take your profit,those charts and helpers you're using are full of shit,they are just crutches to build your confidence to get into the fight,they are useless once you are in,thats from a mental standpoint of a new trader needing the help to recognize the action and get in, once you are in,you must learn when to cut and run,the charts won't help you here,because of your fear,you will mentally sabotage yourself,you are using the charts as a tool to get to the point where you won't need them, a first grade primer in reading,see dick run,see jane follow,you learn to read,this won't make you the next hemingway.the charts give you a glimpse into the mrkt,thats all, a primer,when you are long and up and you see the market turn 2 points before your expected target ,get out,take the money,and be happy,thats trading,it has very little to do with homeruns or being right,mostly it has to do with not being wrong,if you can learn how to be wrong in a smallway you might survive ,remember they are a tool only,when the ladder starts to give underneath you ,you instinctively forget about the paintbrush,common sense always comes first