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the easy edge for beginner traders
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the easy edge for beginner traders

  #1241 (permalink)
Elite Member
phl pa. usa
 
Futures Experience: Advanced
Platform: tos
Favorite Futures: es
 
Posts: 1,126 since Mar 2012
Thanks: 106 given, 347 received

as you have seen -we are training a 18 year old recent graduate - this is becoming quite the challenge- I am finding teaching proper trading rules comes with a lot of why questions -

so for the last 10 sessions ,we tried to place only 1 directional trade -our target each time was a 1500 dollar target -using up to 15 contracts -or the full load ,

all but 2 loser days hit a 700 to 1100 profit zone but never cracked the exit point minimum of 1500-

the chart shows the ES trade from yesterday 6/26/2013

on the left side you see the entries of 93.25 and 94.75 ,using a 4 point stop the 93.25 trade was taken out -by 2 ticks -remember this trade if both stops were hit would have been very close to our 3 k per day loss limit -

although she was very close on her stop levels ,she still called short trades in a long setup ,created by the blue candles ,also you see where the entire trade had recaptured all of the 1400 loss plus about 400 clear -but no exit was taken ,

you see after 12 pm the market stayed blue and took out the stop

I guess the story I am trying to show for new traders is the why of following the signals -or red or blue

the market creates new movement patterns as it repeatedly passes through primary daily levels -which as of 12 noon on the day in question was the last pierce of the 1590 pivot level -

stick to the plan -now I have to pull this back above 150k by july 12 -to qualify for a new rollover combine -and also our 18 year old trader who I will call from here on out Capital A

so Capital A now understands why its nearly impossible to put 1 directional max trade in per day -with the risk allowances of TST -

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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