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Has anyone tried eminiacademy.com?

  #67 (permalink)

Trading Experience: Beginner
Platform: Trade Nav., NinjaTrader
Favorite Futures: ES, TF, 6E
vovan348's Avatar
Posts: 460 since Mar 2011
Thanks: 612 given, 405 received

JS12 View Post
Well, one thing I will say is that is definitely a good thing if you can keep yourself out of choppy ranging markets, as I guess sitting out will not cause you to lose money.

However, shouldn't a good trading method make you money during trending and ranging markets?

Again, staying out of the market is never a bad thing, as you will preserve your capital. BUT, you won't make any money either by sitting on the sidelines.

And from what I understand, the markets are ranging more than they are trending.

So just trying to figure out how you would actually make money using this type of method that is geared towards capturing trending moves. If the market gets rangebound for a couple of weeks, then where does your income come from?

If you are looking at 610 ticks charts you gonna have at least 2-3 signals for a session, even if it's very slow 1-2 signals. If you look at higher time frame or tick frame you'll see that it's still going side way. You need just 5-6 pts move to get your 2-3 pts out of the market

All I need is 1-2 winning trades a day. My daily goal is $100 or $400 a week so it might be -$100 one day but +$200 the next day. So all I need is just a couple points a day per contract. I just started to practice but I was able to get over 4-5 points for a couple days even with my poor trade management.

I tried scalping, sideway strategies before and I didn't like it. If you are interested you can check it out at Day Trading | Day Trading Strategies | Free Day Trading eBook. The give you scalping strategy for free and you can test it for yourself. The use 8 ticks range bars at ES and 16 ticks on 6E and you go for 2 ticks on ES and 4 ticks on 6E at the closing of the bar. It seems like a little profit target and you should get it every time but you have stop loss four times bigger than your profit. So you get your profit in 80-83% of the trades but even with that procentage you don't make money. With 80% you only BE and plus you have to pay your broker's fee. It's a good strategy until you get a loosing trade.

They have strategies for any condition of the market but after trading them for a year on sim and real money I didn't make any. The thing is you can be profitable for few weeks and then start loosing money and one of your loosing days could wipe off the whole week of profit or even more.

So I think if you want to make money when market ranging within 1-2 points you can try make some money on smaller time frame (you can see trends there), but for me it's better to stay out for 30-40 minutes and then get one or two winning trades and call it a day.

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