The Evolution of an E-mini Trader

GetRealestate,

Why do we go against the odds to trade? Well lets see...Because we don't like to take the easy way out and avoid trying something just because the odds are against us...Because we were laid off in an industry (information technology) that is not hiring right now and can't get loans for real estate...Because we don't want to be 50 something and get laid off again and really be up shits creek fighting age discrimination during job interviews...F**k "the man", I want to make my own money!!

Whamo
 
...and the freedom that the markets can provide.
For me the most fascinating thing is the fact that you can make a lot of money by understanding the psychology of the crowd and of course your own.

As a small trader you can take the money from the big institutional firms who need hours or days if they really want to buy or sell. By building up relatively large positions in a matter of minutes a private trader can profit from the big waves they make.

And tell me another profession where you can grow your income exponentially so fast.
 
Originally posted by GetRealestate
I've been reading the daily adventures of day traders for quite some time. If what I've read is accurate, 80% of traders lose while the 20% split the profits.

It is said that Wall Street attracts the brightest/sharpest minds. These people are your competition, how can one expect to consistently win?

Why is it hard to find a successful day trader? Is it because there are so few of them, as the odds suggest? If so, why pick a game within all probability's - you will lose in the end...
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Being smart has nothing to do with it. The smarter you are, the longer it takes to become profitable. What it comes down to is the ability to control your emotions.
 
Originally posted by Huios
3 trades, 2 winners, 1 loser for +3.00 pts
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On your chart you wrote "missed entries are killing me".

Are these actual signals that you got but didn't execute. Or is this after the fact concluding that it would have been a good entry?

Because you can't be aware of everything going on all the time. Anything could basically be called a missed entry. Don't feel bad about that.

Also, I'd recommend knowing where the key Daily EMA's are. 10 DEMA, 50 DEMA, 60 DEMA, and 20 DEMA. And please watch the NYSE TICK and the Dow Jones Industrial average if you aren't currently, these are EXTREMELY important.
 
m_c_a98

...you wrote "missed entries are killing me"...Are these actual signals that you got but didn't execute...
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Yes, these are non exectuted entry signals.

:mad:
 
H,

Are your missed entries things you saw realtime but for one reason or another decided not to take. Or are they things you catch at the end of the day when you review the total chart and can see the big picture. Or some combination?
 
Originally posted by Huios
Only traded the morning, gone most of the day.

1 trade, 1 loser for -2

Net for the day: -104.8

Net for the Week: -468.10

Net for the Month: -864.20
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Huios I'm really bummed. I thought that by hanging out at that emini chatroom you'd come back here all profitable and everything.

If you chart your trade performance vs number of trades, is greater experience at least improving your trading? Are you learning and getting better?
 
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