Quote from chopper1967:
Can anyone just point me to a system that really works and maybe some books or DVD'S that teach trading the S&P 500 E-MINI Futures, been at this since January and I just keep losing more than I gain my money is disapearing slowly, some days faster than others, thanks to all who reply.
Chopper
Cheese posted to you twice. From that you get the idea that he is looking at price a lot and he feels that, by osmosis, you will get to be like him and his approach.
Someone else mentions seeing homeruns and to not try to hit them for some reasons.
I notice that home runs are hit every day and it turns out by doing the cheese thing differently for only a short while, you get to be able to see the home runs quite easily.
"Seeing" the market is the clue. The indicators that lead price are very important to watch. Then when they give you a home run signal before the home run begins, you simply get to make a pile of money mostly everyday.
What people who offer suggests usually leave out is where to look for any given phenomena. This is extremely important to a trader who is starting out and has only limited funds to begin.
At our office we only look at equities and commodities that make a lot of money in a short time. Our current equities list shows 4.18 percent per day. Within that list the home runs run about 10 to 12% a day. Any commodities index may be traded for home runs daily.
The way to get a good list is to use a "quality" sort and get it down to 50 to 100 stocks. WJO's combo of EPS and RS work in 5 seconds to get that list. For home runs, singles, doubles and triples, the leading indicator of price before the swing is made to hit the ball is volume. The P, V relation tells you this.
It's 8:00 am here now. I am going to a
00 meeting and we will have all of this set up for the first time in a short while with a person who is having third meeting with me. He did his first trade last week with capital he took out of INTC (he saved 3,500 dollars by taking it out). He used the money to trade CBEY for two days to make 10% on the capital.
Last Friday, the home run stock used to sweep unused funds out of the equity account made 12% for the day. Friday was not an unusual day for traders.
So I recommend that you set up your computer to have a quality list of stocks, On three columns associated with the list, put in columns for volume, the %of the 65 day average, and the 65 day average. If you want a list of percent of the 65day average for any particular time of the day with respect to stocks whose price will be going through the ceiling let me kmow by pm with your email address. The list makes it easy to hit home runs. BY sorting on the column, % of the 65 day average, these stocks go to the top of the list as the market opens.
I probably should post those that are going out of the ball park each morning.
This post may be too specific and too long I just focussed on an alternative view to that which you recieved from cheese and the guy who said to skip home runs. It is my opinion that these guys are not doing as well as you will be by midweek if you get to work.
