Hi, Where did you find that dynamic SR lines indicator? Very interested!

loantelligence 

Looks like you are getting a lot of good replys…. as you can see there are as many ways to trade as there are traders...everyone has their own techniques....so you have to find yours... One of the things I notice...is that you described Scalping stops yet you are using a long term bar (7500 volume)...I have seen people use the long term bar but your stops have to reflect that otherwise you are going to get stopped out all the time....as you have discovered...you also need to know if the crowd is with you or against you (order Flow/Delta) are buyers coming in or are sellers coming in....you are also trying to use a breakout techique….but you don't have anything to show a breakout....you end up trading in the chop....I took the 15th ES and added some indicators to show you buyers/sellers (GOMcd) and breakout areas (SR_Dynamic color bars) using your 7500 volume...maybe you can see when to trade...there were 4 trades that day....you were trying to trade in chop...just an example...of adding order flow/Delta...you had a trade at 9:36, 10:00, 11:42 and 14:24 [ATTACH]Attachment 261554[/ATTACH]Attachment 261553

From what I can see immediately you are using market orders for entry. Try limit orders instead. You may have to modify your entry critera but it is well worth it. This way you prevent slippage, chasing the market.

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maxmeier 

Well I'm not checking this numbers as long I'm in profit. But calculation is very simple. I'm making 4,5 points on average (because of losses) per contract and I'm only trading 3 days a week, about 12 days in a month so 4,5 points x $50 x 2 contracts x 12 days = sometimes less but sometimes much more :-) But the important thing is to stop focusing on money! It sounds strange because we are doing this for money but it's all about points only. Is about perfection and simplicity. Money is not a target but a "door opener" it is only needed to cover the margin and allows us to trade. But at month end I'm also happy then about the outcome (money) :-)

Thanks for your transparency and honesty, it's much appreciated.

Is there a particular reason why you only trade 3 days a week if you are day trading? Thanks.

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kazz 

Thanks for your transparency and honesty, it's much appreciated. Is there a particular reason why you only trade 3 days a week if you are day trading? Thanks. Sent using the NexusFi mobile app

I'm trading to have more freedom and more free time.
Why should I trade more?
To make more money?
Well as I said money should not be the main target.

maxmeier 

Hello xevanchan, let me give you some hints. Sorry for my bad english. Trading must be simple like driving a car. Intuitive and "easy". I'm trading 2 ES contracts on my $30k AMP Futures account since 4 years now. 1. Choose only one simple setup for example support/resist. This is the only setup that will always work. Remove every indicator from the chart. Switch to bar chart. Check the day chart and draw a line for each support and resistence which you see. Switch to 60 Minute and identify again support and resistance. Switch to 15 Minute and identify again support and resistance. Use 5 or 3 Minute chart and 5000 Volume chart to find optimal entry. You will see the entrys for sure. In a trend buy each support, in a sidway market buy low sell high (at support/resist). Trade only one setup for at least 66 days. Focus on only one setup. No back and forth no quick changes. Trade only one setup. Go back one hundert days and check the win rate of your setup by manually identifying your signal by reading the chart for at least 500 trades. Only then you will trust your setup. Trade one setup and take each identified signal (which matches your predefined rules). 2. At day end check each trade and find out what was wrong and adapt for the future but stick to your only one setup. After a few weeks you will see. SL must be greated then the (5) ATR on 5/3 minutes chart. I'm mostly using 4 point stop and 8 points target (trailing). I always trade only 2 ES contracts. Means my maximum loss per trade is always the same. Your winners must be greater than your losers. I would recomend VWAP Indicator and 300 EMA if you want. I have the best Mentor (30 years of trading). After you become a master trader in your one setup then and only then add a second setup or double the contract size. Simplicity and focus is the key.

HEllo @maxmeier
would you care to share a chart with a summary of your method
for those of us that do not have access to a 30 year mentor,
one thing that has always stunned me is the talent on this forum YET who knows how many members are never able to make it as profitable traders when i have read time and time again there is NO substitute for a hands on mentor and there seem to be enough replying to just this thread alone, why is there no thread for mentoring, perhaps i should start one, who knows maybe a % of future profit scheme would be a nice way to repay the privileged opportunity,

anyway to the OP i have nothing to add that hasn't been said better other than it doesn't take years if you have a mentor but will if you do not have a structured process as some have advised you regardless of what type of chart you use AND hope you take up the mentoring offers you have on this thread
i'm bewildered as to why it was posted to ME & who knows maybe the entire forum

safe trading all

Angelo1 

why is there no thread for mentoring, perhaps i should start one, who knows maybe a % of future profit scheme would be a nice way to repay the privileged opportunity,

If you put the keyword 'mentor' into the search box you will see that there are plenty of threads on the subject.

The % of profits promise in the future in exchange for free mentoring now sounds like a good idea on paper, but think about it: if the large majority of people trading don't make it, what would be the mentor's incentive to take up students, most of whom will turn out to be a waste of time for him/her?

Anagami 

And this is not some mystical new age mumbo-jumbo. This is just solid psychology. Winning the game before you even begin. Operating out of a place of strength and clarity, instead of weakness and lack. How many traders out there trade out of the fullness, abundance, and joy within? Less than 5%? 2%? Ah... beginning to understand the success / failure stats.

So what would be so bad about mystical new age mumbo-jumbo?

Take what works.

Bob.

Angelo1 

one thing that has always stunned me is the talent on this forum YET who knows how many members are never able to make it as profitable traders when i have read time and time again there is NO substitute for a hands on mentor and there seem to be enough replying to just this thread alone, why is there no thread for mentoring, perhaps i should start one, who knows maybe a % of future profit scheme would be a nice way to repay the privileged opportunity,

Paying forward?
I actually have been thinking and planning about "traveling mentor" one-on-one to newbies for FREE during four months in the summer that I do not trade--first destination would be Florida, USA.

xplorer 

If you put the keyword 'mentor' into the search box you will see that there are plenty of threads on the subject. The % of profits promise in the future in exchange for free mentoring now sounds like a good idea on paper, but think about it: if the large majority of people trading don't make it, what would be the mentor's incentive to take up students, most of whom will turn out to be a waste of time for him/her?

I think the point of a "mentor" is firstly his process is profitable and is successful in his process to train someone to BECOME profitable, otherwise he shouldn't be called a mentor that said a forum would soon separate the real from the false. by means of recommendations from successful prodigies,
a potential prodigy will be able to present his case of why he would be worth training. and so on, may not be for everyone but why it hasn't been considered other than the many many bloggers and internet gurus claiming to train you where you become a number, in a forum such as this it could become a reverse pyramid,,,

1 teaches 1 then 2 teach 2 etc,

TraderTS 

Paying forward? I actually have been thinking and planning about "traveling mentor" one-on-one to newbies for FREE during four months in the summer that I do not trade--first destination would be Florida, USA.

Hi TraderTS thanks !
yes paying it forward, great words,
are you offering mentoring to people in the Florida region?? doesn't help me unless you are up for skyping or such, then as a potential prodigy my quest is are you profitable and what would the criteria be for a match between the two parties such as, scalper vrs swing to name one, etc