Question for Grob/Hershey...
- Thread starter makosgu
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This is a very important point. You must have your execution skills and your discipline well in hand before any of this will do you any good. This is why I do not post entries. Many people would take the entry and then 30 seconds or a couple of minutes later when I decide that I dont like the way things are going and wash these people might be down a point or two before I could post my exit. I dont want to be responsible for anyone losing money.
Amen. Amen. Amen. I've started over with just rockets, for exactly this reason.
--laz
Quote from easyrider:
A small bite times 2 then 5, then 10 adds up to a big bite sooner than you would think.
Lol...yes, and you are eating quite well too.
Back when I was daytrading stocks, before decimalization, trading 1000 shares in a liquid stock was the usual. $125 per tick. Partial fills were not uncommon. 10 ES contracts is $125 per tick but doesn't approach any liquidity problems. Things have definitely gotten better.
P.S. The one downside is the relatively high cost of commissions on futures. Back then, a round trip on 1000 shares cost $20 bucks.
thanks,
--laz
Learning to make money is best done in stages. Jack has stated this repeatedly, and any person who has had false starts knows the truth of this very well. It is a recognition of another truth that the market behaves differently during different phases or operating points.
Demonstrate to yourself over and over the simple act of growing your account without any hiccups. You do this by participating only when you know what is going on and going to the sidelines when you don't. You teach yourself that a person who has limited experience growing an account does not participate most of the time even though he or she has shown up prepared.
Showing up prepared all the time and participating only part of the time is the beginner's skill. It stems from the knowledge that the market has a best operating point for participating as a beginner. Pace determines this.
There is a lot of faith involved in making money as a trader. Faith not in doing haphazard things and blindly hoping for something to happen but in knowing that a sure effect will follow from actions that are consistent with truths. That sure effect is your account growing. Demonstrate this over and over and your faith will grow too.
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