The Time Has Come !

[traderdon56]

Quote from saxon22:

I have done the sim route with live feed and have been profitable. I used th same firm that I will use for trading, same DOM ect. I have been doing the live thing since Christmas. I think the time has come to test my emotional skills and discipline and for that I need to go live and put real money on the line. It is one thing to play the sim and quiet another doing it with $$$$$. That is why I am going in. I am prepared to lose the initial 6K, However, I am not planning on giving it away either. Of course I much rather keep it or even make profit from it, as a matter of fact I am counting on it, but if the money evaporates, I will not slash my wrists.

What broker/platform/data feed combo are you using?

 

[RAY]

And the Winner is.

Quote from TRS:

Why change the plan when you get to 50 cars?

My advice (it isn't worth much) is to not trade until you know why TRS won.

EDIT: As for what I think the answer is; You can look at one of VOL's posts as a guide.

 

[JimmyJam]

You're actually a lot closer to what you want than you think.

While you've been given some basic concepts of how you might want to trade here, you're missing the key component that all of these SIZE traders use to implement their real killer trades.

But intuitively, you already do it, you just need to quantify why you do it better, so that you will have solid rules to go by (they're like a seatbelt, there to protect you against worse case scenarios).

Good trading,

Jimmy Jam

 

[TradinMadMan]

Quote from windwalker:

Just remember what I said about trend Sax

So what did you say about trend?

 

[Pekelo]

Quote from ammo:

saxon you can make $500 a day trading 2 lots,

He could, but he won't. You are telling to a newbie he can make 5 ES points per day, right from start???? If he can, I want to sign up for his strategy...

Saxon, be happy if you make consistently 1-2 ES per day, you can make a living on that...

 

[saxon22]

Quote from volente_00:

Turn the PnL off on the real account and trade just as if it was the sim account. The result will surprise you. The minute you turn it back on and start counting the money you will start to lose discipline and break the rules.

I must admit, I do sneak a peek on my total P/L. I also record in my notebook all my trades. Time in/out P/L and length of being in the trade.
As for the second part of the advice about how much to have in the account for 50 contracts. I would probably deposit 200K and would only risk 5% on any given trade. However, I realize that I am still very far away from that moment not to mention doing 40 with 30K - that is formula one of trading. Thanx for advice.

 

[saxon22]

Quote from TRS:

Why change the plan when you get to 50 cars?

Because there are trades where you think that there is a 80% probability that it will go your way and in order to see if your assumption is true you go in and see if you were right. Now, there are trades where the risk is minimal or very small. When your set up is telling you this is the one, then you go all in. So with 50 contracts I would only hunt for the elephant not the rabbit.

 

[saxon22]

Quote from traderdon56:

What broker/platform/data feed combo are you using?

E signal + Open E Cry

 

[saxon22]

Quote from RAY:

And the Winner is.



My advice (it isn't worth much) is to not trade until you know why TRS won.

EDIT: As for what I think the answer is; You can look at one of VOL's posts as a guide.

Wouldn't it be easier to just state it?????

 

[saxon22]

Quote from windwalker:

Just remember what I said about trend Sax

Yea, I got your PM thanx. Trend is my friend. Btw. I see that the fire storm had been retired? Glad to see that you are still around. You are like spicy food, hard to swallow but overall tasty.