The Trading Zone- Every superlative and more
- Thread starter Dennis Dorsch
- Start date
Quote from KiwiRoo:
I only see one line on the entire website that mentions Market Profile â> âUse MarketProfileâ (and a small picture icon)!! Not sure how you saw it as "bigtime" there.
They sell something for eSignal Ver. 7.5 called "THN PriceProfile" for $99.00.
Here is as paragraph taken from the site:
"The THNPriceProfile is a dynamic technical tool that organizes price and time into a powerful trading structure based on the bell curve. The study identifies market assessment of value, reveals market acceptance and rejection of price, provides the long-term overview of the balance and imbalance of buying and selling pressure. This study is similar to the marketprofile method developed and promoted by the CBOT."
Looks like they sell a lot of trading tools that you would need with the Home Study Course.
All the extra "tools" add up to about $1560 or so...
They also sell Webinars.
And I have heard them say their Paltalk room won't be free forever.
So get ready to pay for the room eventually...
Gawd I feel like a spammer now... uhg...
<b>kiwiroo</b>, I greatly appreciate the effort you went thru to answer my question. Thank you for that.
First of all, 90+% of all emini traders lose money. With that in mind, any way someone books consistent profits is outperformance on its face. Let's establish that part right now.
I asked about the accounting method because it seemed like that's what was tallied. There are lots of ways to keep score in this game. My personal measure is how many $$ per contract on average. The example I gave earlier of +1, +3 and +20pts profit on three contracts does not yield +$1,000 per contract on the whole position. It yields +$400 on the position, which is +8pts and a very nice trade, but not incredible by any means.
A trader could work five contracts in pieces, take four of them off at +2 and let the fifth one ride for +30pts into the next session. What does that make the trade? A 30pt bagger? No, not at all. 4/5th of the position came off at +2pts... a fifth token contract let run for distance contributes squat to the bottom line.
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I'll say it once more: anyone who is consistently profitable trading anything is outperforming the crowd. Based on what you shared, it sounds like positive performance any way sliced. I was specifically interested in someone capturing 100+ ES index points intraday across all contracts turned. It was definitely possible on a few of the recent days, and will offer the opportunity again before we're through.
Thanks again for the time, effort and feedback
First of all, 90+% of all emini traders lose money. With that in mind, any way someone books consistent profits is outperformance on its face. Let's establish that part right now.
I asked about the accounting method because it seemed like that's what was tallied. There are lots of ways to keep score in this game. My personal measure is how many $$ per contract on average. The example I gave earlier of +1, +3 and +20pts profit on three contracts does not yield +$1,000 per contract on the whole position. It yields +$400 on the position, which is +8pts and a very nice trade, but not incredible by any means.
A trader could work five contracts in pieces, take four of them off at +2 and let the fifth one ride for +30pts into the next session. What does that make the trade? A 30pt bagger? No, not at all. 4/5th of the position came off at +2pts... a fifth token contract let run for distance contributes squat to the bottom line.
*
I'll say it once more: anyone who is consistently profitable trading anything is outperforming the crowd. Based on what you shared, it sounds like positive performance any way sliced. I was specifically interested in someone capturing 100+ ES index points intraday across all contracts turned. It was definitely possible on a few of the recent days, and will offer the opportunity again before we're through.
Thanks again for the time, effort and feedback
austinp it would be informative to know what educational materials you have found useful in your career? how much of your trading is mechanical rule based and how much discretionary?
<i>"austinp it would be informative to know what educational materials you have found useful in your career? how much of your trading is mechanical rule based and how much discretionary?"</i>
I personally have no use for volume or sentiment indicators of any kind. I'm sure they offer value to many traders, but none to me.
I only use price action and measurement of price action, which includes certain indicators. An indicator can visibly show price "trend" which is specific to any timeframe traded. A body in motion tends to stay in motion, and it's true reversal can be readily identified by price pattern behavior.
My trading is discretionary based on price measurement and patterns. Price action does not lie... it shows when up, down or sideways is most probable.
In my opinion, the ES moves in very predictable fashion much of the time. That does include a whole lotta noise in between, for sure. I prefer to hunt for swing moves of +2 to +8pts ES, average of +4pt wins overall. Scalping, trying to catch every price wiggle and scaled-out tactics are perfectly fine for many traders, just doesn't suit my makeup.
I personally have no use for volume or sentiment indicators of any kind. I'm sure they offer value to many traders, but none to me.
I only use price action and measurement of price action, which includes certain indicators. An indicator can visibly show price "trend" which is specific to any timeframe traded. A body in motion tends to stay in motion, and it's true reversal can be readily identified by price pattern behavior.
My trading is discretionary based on price measurement and patterns. Price action does not lie... it shows when up, down or sideways is most probable.
In my opinion, the ES moves in very predictable fashion much of the time. That does include a whole lotta noise in between, for sure. I prefer to hunt for swing moves of +2 to +8pts ES, average of +4pt wins overall. Scalping, trying to catch every price wiggle and scaled-out tactics are perfectly fine for many traders, just doesn't suit my makeup.
HI Austip
Can you tell us what is your account size since you are trading the E-mini for a living like u know not 90% but 95% of the people fail
Would like to hear comments and advice from a person who is trading the e-mini full time.
People say that a 5K 10K or 15K is not suffice for making money daytrading if it is for full time
Please give some advice or some experience knowledge of Which u think might be helpfully
And also how much do pay per round trip and what are your commisions,s
T y
Can you tell us what is your account size since you are trading the E-mini for a living like u know not 90% but 95% of the people fail
Would like to hear comments and advice from a person who is trading the e-mini full time.
People say that a 5K 10K or 15K is not suffice for making money daytrading if it is for full time
Please give some advice or some experience knowledge of Which u think might be helpfully
And also how much do pay per round trip and what are your commisions,s
T y
Thx for reply austinp.... your reply leads me to ask what time frame chart you trade as measured moves and retracements do take some time if your doing them intraday. Thx.
mjoe, ksonsinc... the topic of this thread has nothing to do with how I or anyone else trades. I'm not a scalper, the only reason I opened dialog was to discern how 90+ to 150 pts intraday ES gains were accounted for.
Keeping threads on topic is one continual challenge in this forum. I have nothing further to add in any aspect concerning the topic at hand. Let's keep it on track here
out
Keeping threads on topic is one continual challenge in this forum. I have nothing further to add in any aspect concerning the topic at hand. Let's keep it on track here
out
Take the course, forget the tools. Buy the tools and you might have to take the course. Sorry, I canât say too much as Iâm not sure how much I can speak about the course without giving away info. Now instead of me getting my lifetime membership extended, I would be banned instead. Don't want that happen do I?Quote from version77:
They sell something for eSignal Ver. 7.5 called "THN PriceProfile" for $99.00.
Here is as paragraph taken from the site:
"The THNPriceProfile is a dynamic technical tool that organizes price and time into a powerful trading structure based on the bell curve. The study identifies market assessment of value, reveals market acceptance and rejection of price, provides the long-term overview of the balance and imbalance of buying and selling pressure. This study is similar to the marketprofile method developed and promoted by the CBOT."
Looks like they sell a lot of trading tools that you would need with the Home Study Course.
All the extra "tools" add up to about $1560 or so...
They also sell Webinars.
And I have heard them say their Paltalk room won't be free forever.
So get ready to pay for the room eventually...
Gawd I feel like a spammer now... uhg...