The Tao of Minimalistic Trading: $300 Daily Profit

Stewie said:
Yet another fine example of REAL LIVE TRADING.

I'm watching all these posts in real time and although a trader could see that price is itching to break higher, each time it doesn't, you have to start wondering if you should get out, which schizo did here (for whatever were his reasons of course), mere moments before it shot higher, which I see had him re-enter.

Trading is not only about making money on the trades that work, but also keeping the losses as small as possible. When you see schizo actually get out of trades just before they work, its obvious that these are factors that go through his mind because he's actually trading, in real time, without knowing what will happen next, without the benefit of posting "calls" after the fact or using the excuse that your amazing results you refuse to share, but that we should trust you nevertheless.

There are many traders who share just their random big wins, but this tells you nothing. When you see all the trades, especially the premature exits and the losing trades, and you see how these are handled, this is truly the sign of what a real trader has to contend with.
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I agree totally and think what schizo is doing is the only ethical and moral way to teach people how to day trade. Apologies in advance to offended trading vendors.
 
Stewie said:
Yet another fine example of REAL LIVE TRADING.

I'm watching all these posts in real time and although a trader could see that price is itching to break higher, each time it doesn't, you have to start wondering if you should get out, which schizo did here (for whatever were his reasons of course), mere moments before it shot higher, which I see had him re-enter.

Trading is not only about making money on the trades that work, but also keeping the losses as small as possible. When you see schizo actually get out of trades just before they work, its obvious that these are factors that go through his mind because he's actually trading, in real time, without knowing what will happen next, without the benefit of posting "calls" after the fact or using the excuse that your amazing results you refuse to share, but that we should trust you nevertheless.

There are many traders who share just their random big wins, but this tells you nothing. When you see all the trades, especially the premature exits and the losing trades, and you see how these are handled, this is truly the sign of what a real trader has to contend with.
More...
Thanks, but that's too flattering. :)

I know it's human nature to show only the best moments, the bright side. I can't blame 'em. Lately, I made some stupid mistakes that I wish I would rather hide. For instance, I left big chunk of money on the table. I could have taken profits sooner, knowing well in advance where the support/resistance was, but I hung in there hoping and praying that the damn thing would go further.
 
schizo said:
Thanks, but that's too flattering. :)

I know it's human nature to show only the best moments, the bright side. I can't blame 'em. Lately, I made some stupid mistakes that I wish I would rather hide. For instance, I left big chunk of money on the table. I could have taken profits sooner, knowing well in advance where the support/resistance was, but I hung in there hoping and praying that the damn thing would go further.
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As I'm watching this, I too am thinking the same thing with regards to profits left on the table. With your recent discussions in the other threads where some are belittling your many trades for small profits (since they clearly know how to capture every 30 point move... LOL), I wonder if this has perhaps had an effect on you.

When I look over your charts that I keep with the trades you post, I do see some profits come from riding a major move, but by far, most days are simply from the result of the average win being bigger than the average loss. When these two values are 1 point apart and you've taken 10 trades, well, there are your 10 points!

Of course anyone can say in hindsight which was the better strategy, hang in there for a big move, or just try and capture bits of each wave, but I think that when I look over your stats, the consistent bits actually do better over all. Of course there isn't enough data yet, and how you are trading for the purposes of this journal, trying to just make 6 points, might not be the way you would trade a different account, but I'm just saying that I feel for you! You easily would have made your target today by locking in those profits.
 
4 for 4. 16 points. Got lucky in the globex
 

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