British Columbia, Canada... aka paradise
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Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
- Start date
British Columbia, Canada... aka paradise
oMG... that is where you live? nice
Can I ask what made you go short today? What were the trades? Entry stop target etc.
I went for 2 trades long at 2431 and again 2431.5 each for 3 points profit up to 9:45AM CST...
Then 5 shorts, from 2435.75 down to 2424.00 3 for 3 points, one stopped out -2 and one I only pulled +1/2 pt....
7 trades is unusual for me... usually I am at 4-5
and the thing is that I even missed a trade... but who cares....
Then 5 shorts, from 2435.75 down to 2424.00 3 for 3 points, one stopped out -2 and one I only pulled +1/2 pt....
7 trades is unusual for me... usually I am at 4-5
and the thing is that I even missed a trade... but who cares....
oh yes MrScalper... I too had to learn the same lesson. When I started to trade the E-Mini I was trading like a crack addict! sometimes as much as 20 trades per day, average was about 12 ! Blew that account up pretty fast. STUPID. now I execute 4.5 trades per day and things are much more controlled and I do not feel out of control.
The ES is not the best market for new traders to trade..after all..you are trying to compete with others that are using multi million dollar systems and software..not a wise choice at all!
Any market that is traded mostly by "professional" traders is not really the best choice for the beginning retail trader.
Consider this option!
Say you have a $5k to $10k account.
Pick a stock that has large institutional ownership..has large daily volume traded..and has recently traded from around $1 to around $4..and is now sub $2.
What are your chances of making money trading this stock..as opposed to trading the ES..or..to be more practical..what are your chances of losing most or all of your money?
MrScalper,
You actually sounded a lot like nysestocks!
What I got out of this after reading over 70 pages are:
1. Trading is easy if you know the obvious.
2. The obvious, whatever it is, is not obvious to us amateur mom and pop retail type.
3. Therefore, don't follow us, we are the ones supplying $/profits to the elite traders.
4. TA is just mumbo jumbo.
5. Trading is like gambling, so trade to get a number of small wins instead of swinging for the fence.
6. Trade small so to avoid the chance of wipeout.
7. Make sure BLASH, SHABL are the majority of your trade.
8. Entry is a lot more important than exit. Hard to profit if your entry is wrong.
Actually, except for the obvious, everything else make a lot of sense to me.
Regards,
p.s., _eug_, If you don't agree or can think of anything else please chime in.
I got the same pretty much but there was some talk about trading boxes and at the edges of boxes. Buy bottom of box, sell top of box... once in a while sell bottom or buy top of box. He pretty much spelled it out there in my opinion. Again I cannot make it work yet but I am keeping it simple and trying to make it happen.
The ES is not the best market for new traders to trade..after all..you are trying to compete with others that are using multi million dollar systems and software..not a wise choice at all!
Any market that is traded mostly by "professional" traders is not really the best choice for the beginning retail trader.
Consider this option!
Say you have a $5k to $10k account.
Pick a stock that has large institutional ownership..has large daily volume traded..and has recently traded from around $1 to around $4..and is now sub $2.
What are your chances of making money trading this stock..as opposed to trading the ES..or..to be more practical..what are your chances of losing most or all of your money?
I am new to trading 7 months and trading the e-mini. I figure if I am going to learn one market... may as well be the biggest one. I am slowly adding a few others just to watch and study on a longer time frame. But for intra-day I really enjoy watching the ES.
I am new to trading 7 months and trading the e-mini. I figure if I am going to learn one market... may as well be the biggest one. I am slowly adding a few others just to watch and study on a longer time frame. But for intra-day I really enjoy watching the ES.
EUG--- I really like the ES, I have alot of experience, but I do not think that matters too much. I am fortunate that I can keep the ES (or anything else) up on a computer monitor all day while I am working my current job. I have a ton of screen time watching the ES. Sure, I would love to see more daily range, but it is workable. The NQ is too eratic, I have never looked closely at the DOW or Russell mini's