Why focus on only one instrument while learning?

Quote from NoDoji:


I finally broke through a major set of barriers recently. I'm now a trend-follower and breakout trader who trades 4 stocks 95% of the time with an occasional outlier when I see something interesting hit the hi/lo ticker.

My next goal is to transfer my overall trading skills to CL and possibly trade it exclusively. In my sim account, CL has been a serious outperformer. [/B]
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You have "ARRIVED", well done in a short time. You will scratch that "CL" itch and i am betting you will do fine.

Do not give up on ES, that dog will hunt again. Neighbor gal is doing really good, we cancelled a hedge account we had for testing some new stuff and reverted back to normal breakout stuff but with these smaller ranges lately now use the opening tick at the 0930 bar to start the day..........BOOM!!! over = LONG, under = Short, back to the line = scratch if possible, haha on that one, but keep losers small. Friday all the action was early, we got our 5 handle daily minimun goal (each) early and did a single trade for 2 1/4 handles as we watched tv of a trial on "InSession" formally Court Tv of a road rage case where 3 teens were killed in Michigan.

Trading and driving when upset does not work. Be cool on your stool.

Good grief, Charlie brown.............do women catch on to trading 10 times faster than guys?
:D :D :cool:

http://insession.blogs.cnn.com/
 
Quote from NoDoji:

I had several live ES trades, a few very nice ones. But overall I was cutting all my winners near break even only to see them later move nicely my way. I simply couldn't get comfortable with ES's personality. I trade it almost every day in my sim account, however...

...someone on ET was trading crude oil and I brought up a chart one day quite some time ago and found it to be not only one of the smoothest trading instruments I'd ever seen, but one that gives you a VERY quick response. There's rarely a lot of gnashing of teeth and wringing of hands while you're in a CL trade (though there certainly might be afterwards).

Anyone following my live sim trades in CL Redux can see that usually by the time I've posted an entry, my stop is already moved to break even because the trade's moved 10 ticks my way.

So right now I see CL as my eventual full-time trading partner. All I need to do is "just do it!". I have a terrible time making changes, and my stock trading is working quite well. But I believe that my move to the next level in trading will come out of CL.
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imo crude oil futures are the most technically clean (least noise) and most dynamic since the ER2 at its zenith, before fading into obscurity.

CL(QM) has become my primary market too, and probably remains there for the next umpteen years. Hopefully so, because I resist permanent change much as anyone else. That said, no reason to drop your current bread & butter symbols any time soon. Not a big deal to monitor two stocks and one futures market at your stage of evolution.

Lastly, the difference in results from your sim to reality lies perfectly between your ears. The CL market has no idea whether you are clicking in sim orders or live orders... nor does it care. It only reflects back to you the results of your decision and action. Whether those dollar results logged are live or memorex is only in your mind, nowhere else :)
 
When you are starting out learning trading it would be counterproductive to start jumping from instrument to instrument. In the beginning you are learning "discipline" and developing your unique style. Stocks trade vastly different from stock options and futures and completely different from forex.
I still have nightmares from stock options where even if an instrument does not move against you, you are losing money due to time decay.


Start out with stocks and go from there according to your preferences/success.
 
Quote from Cheese:

...Next is the certain death of lost opportunity practised by amateurs. Some set ups here and there will not make you rich. A market offers a maximum number of points open to close, as defined by its gyrations. A gyration is a swing up followed by a swing down (or vice versa). The sum of all the swings is the total points the market offers in one session. That is your target cornucopia for a daytrading menu.
:)
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Are you suggesting that successful trading is defined by participating in all or most of a market's gyrations during the course of the day? I certainly hope that's not what you're trying to say. That sounds more like dreaming than trading.
 
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