Trade ES or YM for a Living

gov · Apr 25, 2007

Quote from osorico:

Of course there are traders that make a living trading YM and/or ES and/or other instruments. There are also people at Procter & Gamble that sniff armpits for a living. Believe it or not.

Osorico [/B]

Right on. Smells like team spirit! http://www.youtube.com/watch?v=zYAgFzQa6Sc

trainee2006 · Apr 25, 2007

very difficult, Very Difficult, VERY DIFFICULT.

But it can be done.

Stick to simple methods/strategies.
B

Jayford · Apr 25, 2007

Quote from gov:

and I don't think chat rooms are the home of many profitable traders. In the end, experience is what matters, and you don't get that from an indicator or a chat room.

Bingo!

increasenow · Apr 25, 2007

Right...it is about discipline and consistency...

acerbits · Apr 25, 2007

I seriously do not see the point of a bunch of indicators. The only thing I use is a simple moving average and draw a few trend lines, the rest is intuition + a well defined set of money/risk management rules. I've been able to make a fine living trading options for the past 4 years.

Spectra · Apr 25, 2007

All fancy stuff aside--I often rely on trend lines and use them with the few indicators that I have. They're great, simple and usually correct. I like the trend line break on an 8 minute chart.

Quote from acerbits:

I seriously do not see the point of a bunch of indicators. The only thing I use is a simple moving average and draw a few trend lines, the rest is intuition + a well defined set of money/risk management rules. I've been able to make a fine living trading options for the past 4 years.

Drew07 · Apr 25, 2007

Quote from Spectra:

Out of the 70 trades in our live trading serivce, about 5 are actually making a decent living. Trading isn't easy ..

CajunSniper / Puretick.com Administrator-Trader

While we're being honest, what do you consider a decent living?

jd7419 · Apr 25, 2007

I trade stocks and futures and make my living doing it. I started trading in the middle of 2000. My years net in order from 2000 are $110,000, $365,000, $210,000, $220,000, $130,000, $110,000, ($7000), and this year to date $50,000. Trading is hard and I really couldn't teach or quantify to you what I know.

Basically I'm a tape reader. I use volume and an 20 ema on various time frames. Imo technical indicators like macd, rsi, obv are almost useless. They will always lag price. Market internals are the only "indicators" you should use.

But really the only important thing that I can stress to become a winning trader is to limit your losses. These days I have my account auto liquidate if I hit ($3000) on the day. Trading is about saving yourself from yourself. Most of the people on this board are not real traders and do not do this full time. How do I know this? I read their comments and can't believe some of the bs written on these threads.

increasenow · Apr 25, 2007

thanks JD417...exact type of answer i was looking for...your results are great!

cashmoney69 · Apr 25, 2007

Mirc and paltalk chat clients have rooms just for traders, and you can quickly tell the pros after a few days of following their calls.

I dont trade ES/ YM, but from trading (stocks) I can tell you that if you find just a few setups, and learn to master those, you'll do much better than trying to be so-so at everything. If you choose to use indicators, it will take a while (1yr +) for things to click..atleast it did for me.

cm