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  #133 (permalink)

New York
Trading Experience: Intermediate
Platform: TOS
Favorite Futures: Emini ES
Posts: 19 since Jul 2017
Thanks: 8 given, 3 received

sharmas View Post
1.) We dont find and learn your edge. We must master one or 2 high probability set ups.
2.) We dont have a Trade Plan. We must know our business Plan and money management
3.) We dont have a defined Goal, what is your daily target, weekly and monthly target
4.) We think if we take this trade or that trade we will make. We are competing against Algos and unlimited pockets

Spend time to read the charts, just pure price action, Go watch one market like ES.

See how it works and behaves. Then look at the chart in 15 second interval. We the retail traders are taught to take 5 or 10 or 15 minute charts.

We enter a trade and it retraces to hit our stop and only then it goes in the direction of your trade. But if you enter in smaller time frame with your defined levels things will start to make sense.

We must learn PRICE ACTION. nothing comes close, indicators are lagging, indicators only plot after the price has moved. It will never give you the edge. Why are there thousands of indicators yet none gives that edge.

We the little guys keep searching for that magic indicator. Its not there.

Learn the instrument and go with say $125.00 per trade profit. Take the next set up that is predefined for you in your trade plan to give you an edge.

Do this for 5 days. Yes there will be losses. Repeat this again and soon you will build confidence. Repeat this for 3-4 weeks. Then add another contract and do the same.

Compound the account just like Ace system teaches you and you still do the same thing over and over. You will end up trading 5 to 10 and then 10 to 20 contracts but taking that same set up that happens everyday.

Keep it super simple, never over trade and as Ace says dont get greedy and give it back. Stick to your plan.

Plan your trade and Trade your Plan and Keep your Greens.


Thanks Sharmas! Sounds like your very happy with the Ace System it seems. Thank you for taking the time to write and share !!

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