Quitting E-mini Trading

Originally posted by Tradewinds
+25.75 points today to finish off a 65-pt week. Guess I'll go back to playing the lottery since this was random.
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In the confines of a professional trader.. what you just posted is worthless. Why dont you show us a track record or some type of long term performance.

Flashing a weeks performance is pissing in the wind. Lets see max drawdown, expectancy, risk to reward....

If you wanna show off.. do it w/ class.

ps. I hate when people litter threads with empty statements.

--MIKE
 
Originally posted by Trend Fader
Sarasota,

Every time I read ET I always see a post of you claiming to make a very high point game for the day. Would it be possible if you start a journal or open a thread and teach us traders what your edge is.

Or perhaps call some trades realtime during the day... because your performance is a bit difficult to believe. But I give you the benefit of the doubt.

I just think its useless for someone to nonchalantly claim how much points they made w/o showing how they did it. It serves no purpose to readers except inflating one's ego.


--MIKE
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You're right, it is hard to believe. And I have posted about 5 to 7 trades real time thus far - all worked out.

I will quit saying how I did. I think only on 2 occasions I have said "I made __ points today", although I did say I was averaging over 10 ES points a day more than a month ago while I was defending Aphie's $5k to $1.0 mil.

I will not start a journal simply because I would have to post some charts along the way, and answer a ton of questions. I am not willing to do that because only a handful of guys know how I am trading - and we are going to keep it that way.

But your right, if I remove myself from the situation, and I stand back as a casual observer, and then read someone stating they made this much or that much, I can see how you and others would be put off by it.
 
Oldtrader said it best, why do people think they can beat the market using some technical indicator that tells you you should have bought 3 minutes ago? The majority of people here (judging by which threads get the most attention) seem to be only interested in getting some "grey" box indicator that, so long as they're pulling the trigger themselves, will reward them both financially and egotistically, but very few people actually seem to want to discuss what exactly they are trading.

How many ppl wake up in the morning and start the day by trying to figure out what the impetus of that day's trading will come from? Which sectors are leading, which sectors are lagging? What news is being factored in and which headlines are getting ignored? What clues are other markets -- bonds, gold, the dollar -- giving you in how they are trading? Today was a good example where if you made a killing in the SP, you could've also nailed the 10-yr as well -- different markets, same trade.

If you stick with only looking at technical indicators that are just regurgitations of price, volume, and time in one form or another, you will never be able to discern between one rally and the next. Hence you will be stuck trying to beat the floor at their own game of a couple points here and a couple points there; meanwhile, your broker slowly lines his own pockets. Instead of just looking for that one holy grail, why not try to learn as much as possible about the market you are trading and gain yourself the ability to wait until all elements (technical, fundamental, psychological) fall into place and you can't help but pull that damn trigger? JMO :)
 
....and then I will let this die.

I trade using Gann, a lot of you know this already.

But isn't it just possible (not probable) that one of Gann's trading assistants wasn't as secretive as Mr. Gann, or maybe Gann did share how he actually traded with a person or two, and then maybe one of these guys shared it with a person or two, etc., etc. And then isn't it possible that a very successful trader in his mid 70s has this information, and after all of his years in the markets decided to help the little guy - and maybe I was one of the two or three little guys he helped?

It isn't possible - it happened.

There is an identifiable reason why price starts, stops and then heads the other direction for a new swing. Using Gann correctly you can see it. Once you add up all of the 8 to 10 (or more) point swings in the S&P every single day, how many do you have to catch (or a portion of) to be wildly profitable? Not many.

In my opinion (and its just that - so don't jump my ass), scalping for 1 point here or 1 1/2 points there are for suckers. Sure, some make it work, but most eventually lose. But to say you can't make any money in the e-minis, well maybe you couldn't, but others are doing just fine.

Also, for those of you reading this, please do not PM me. I am helping a few guys now, but I am not sharing anymore.
 
Trading is 100% random if you dont have an edge. Even then it is random whenever your edge does not a apply. Randomness for one person might be the edge for the next.

Brandon
 
So there you have it guys, if by a stroke of luck you just happen to stumble on one of Gann's "REAL" methods, you might be making 20ES points a day too!:D
 
"Your competitors after all are some the brightest people on earth. Do you really think you're going to beat them at their own game with MACD and a few thousand in your day trading account? LOL!" Well said!!! LOL

You guys are complaining that 95% of emini traders are losing money. In my opinion, you should try to figure out what the rest, the winning 5% is doing!
:D

I you want to beat them with your moving averages crossover and RSI and similar thingy: you will have a rude awekening. You should have a real edge (and my experience says that a real edge is NOT based on popular technical indicators) and you should execute it flawlessly. I started a thread here about it several months ago (under a different nick) and all the moron losers immediately attacked me saying "It cannot be done"! That's OK with me!
:p

There are people out there who had been consistent losers for many years. Then they learned the other side of the story and now are averaging at least 10pts a day (ES). It IS doable but you should stop taking advice from losers. Listen to those who have made it.

Hi SARASOTA! We are almost neighbors! Doing probably something very similar here!

(Also: I will NOT teach anyone, will not sell anything and will not give advice - just confirming Sarasota's and others' side of the story.)

BTW: the markets have been a traders' dream lately! I hope you are taking advantage of it!

Have Fun Trading!
 
Originally posted by OldTrader


Your competitors after all are some the brightest people on earth.
OldTrader
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How did you come up with that information?:confused:
 
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