Hey Bubba1 thanks for the mention. That's actually my Instagram name. Twitch name is just "jtradeZ". Live trades everyday with Live P&L. It's Free and all are welcome.

Hello there

Where can I take a peek at your live trading and/or

Bubba1 ?

thx

I'm a scalper, so this advice is more applicable to my type of trading.

Got it. At least Hilmy posts his brokerage statements. They do look real. However, in this day of photoshop and acrobat, one never can really tell for sure.

re: "and was trading 50+ ES contracts. I was completely unprepared for everything that entailed. I guess as a cautionary tale, even if you are having great success over hundreds of trades in a given month, everything can change the next month when the market changes."

Whoa...so with a 10 pt stop, we are talking a $25k potential loss on ONE TRADE ? So if that happens 4 times a week (easily could happen), you could be down $50k-$100k depending on the size of your winners. Right ?

First -- I don't get this whole conversation. It's like a bunch of nerds who've never gotten laid, trying to get proof that one of them finally scored. "you mean... it actually can happen?" And then what? You'll believe...? If you tie your belief to someone else's brokerage statement, you definitely do not have a winning attitude. That's a pure loser's mentality. You surely will also want to copy what that person does, hoping that his way can be your way too. As long as you think that way and hitch your possibilities in life to what someone else has done, you will stifle your creativity and your potential. Think for yourself

.

Hope, it is the quintessential human delusion, simultaneously the source of your greatest strength, and your greatest weakness.

Hello Goodoboy,
I'll never intentionally enter a trade where risk is greater than reward. If a range is narrow I won't trade it. If a range is wide, I can pick tops and bottoms with better risk/reward ratio. I don't hold trades for the whole width of a range; I will get out halfway through the range because I don't have much patience for holding onto trades. I use limit orders to pick my entry spots. If a market is breaking out of a range and I sense momentum building for a strong move in a direction, then I'll jump in at market to make sure I get in. Trying to finesse a fill on a breakout move will make you miss the move. When instinct really tells you a breakout move is happening, I'll add another contract. I avoid slow markets or lunch time markets as scalping trades must then be held for longer times and I like to be in and out pretty fast.
One more thing. Personally, I don't use any indicators. For my type of trading they just make me second guess what I want to do .( Eg I want to sell, but price is above an MA so I don't pull the trigger.) I use point and figure charts - one chart for every single tick movement and one long term chart - 10 ticks for each box. Most people will use a one minute or five minute candlestick chart.

Good luck with your trading!

Rant alert, not directed at syswizard, just directed at this thread. If it kills the conversation, sorry, but so be it, the horse has been dead for weeks but it keeps getting beaten.

First -- I don't get this whole conversation. It's like a bunch of nerds who've never gotten laid, trying to get proof that one of them finally scored. "you mean... it actually can happen?" And then what? You'll believe...? If you tie your belief to someone else's brokerage statement, you definitely do not have a winning attitude. That's a pure loser's mentality. You surely will also want to copy what that person does, hoping that his way can be your way too. As long as you think that way and hitch your possibilities in life to what someone else has done, you will stifle your creativity and your potential. Think for yourself.

Stop doubting people, as if consistently turning a big profit in trading is some kind of utopian impossibility. My god, don't you know there were once floor traders who regularly traded many hundreds of contracts? In "Trading in the Zone," Douglas talks about a client who traded t bond futures who would trade a thousand, for a $30k +/- swing per tick.

On the other end of the spectrum, stop idolizing people who make money. They're not better than you, they're not some demigods who have some magic formula. They have simply aligned their minds with the market, see it for what it is, and above all else, they don't treat it like some unreachable dream like some of you do. You know the girl, the really hot one, the one who you think is way out of your league? You'll never get her, but not because she's out of your league; because you think she's out of your league and you act like an idiot every time you come within a mile of her. You can approach trading like it's your obsession, because that's not a healthy relationship, and it will do what people who you view that way do to you -- rip out your heart. Except the market will also bend you over and create a second orifice for you. So, stop idolizing this business and stumbling all over yourself. Get it together, respect the market, and allow it to pay you.

Second -- think bigger. I'm not a big baller AT ALL, but if a $25k loss on a trade scares you, why are you in this game? To make $100K a year? With a good head on your shoulders, you can break into the technology industry (as there's such high demand), and be making that in 2-3 years, and much more than that if you're actually good. And that's with ZERO risk on a daily basis. Traders are paid because they take calculated risks. If you're scared about a $25K loss, you're probably scared about a $25 loss, just to a lesser degree.

Rant alert, not directed at syswizard, just directed at this thread. If it kills the conversation, sorry, but so be it, the horse has been dead for weeks but it keeps getting beaten.

First -- I don't get this whole conversation. It's like a bunch of nerds who've never gotten laid, trying to get proof that one of them finally scored. "you mean... it actually can happen?" And then what? You'll believe...? If you tie your belief to someone else's brokerage statement, you definitely do not have a winning attitude. That's a pure loser's mentality. You surely will also want to copy what that person does, hoping that his way can be your way too. As long as you think that way and hitch your possibilities in life to what someone else has done, you will stifle your creativity and your potential. Think for yourself.

Stop doubting people, as if consistently turning a big profit in trading is some kind of utopian impossibility. My god, don't you know there were once floor traders who regularly traded many hundreds of contracts? In "Trading in the Zone," Douglas talks about a client who traded t bond futures who would trade a thousand, for a $30k +/- swing per tick.

On the other end of the spectrum, stop idolizing people who make money. They're not better than you, they're not some demigods who have some magic formula. They have simply aligned their minds with the market, see it for what it is, and above all else, they don't treat it like some unreachable dream like some of you do. You know the girl, the really hot one, the one who you think is way out of your league? You'll never get her, but not because she's out of your league; because you think she's out of your league and you act like an idiot every time you come within a mile of her. You can approach trading like it's your obsession, because that's not a healthy relationship, and it will do what people who you view that way do to you -- rip out your heart. Except the market will also bend you over and create a second orifice for you. So, stop idolizing this business and stumbling all over yourself. Get it together, respect the market, and allow it to pay you.

Second -- think bigger. I'm not a big baller AT ALL, but if a $25k loss on a trade scares you, why are you in this game? To make $100K a year? With a good head on your shoulders, you can break into the technology industry (as there's such high demand), and be making that in 2-3 years, and much more than that if you're actually good. And that's with ZERO risk on a daily basis. Traders are paid because they take calculated risks. If you're scared about a $25K loss, you're probably scared about a $25 loss, just to a lesser degree.

Second -- think bigger. I'm not a big baller AT ALL, but if a $25k loss on a trade scares you, why are you in this game?