Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Posts: 50,184 since Jun 2009
Thanks: 32,683 given,
99,760
received
Very nice, Beth. I think this is exactly the kind of positive reinforcement and focus people need, for much the same reason some prefer to meditate before trading, etc. It is positive, relaxing, and helps you focus on a goal.
For some unknown reasons, I am starting to realize focussing on ONE is the BEST trading plan/strategy. I am going to make it a REALITY! Oh, it will take practice practice practice and patience patience patience haha ..
Beth
The following user says Thank You to wgreenie for this post:
Trading: Mini and micro US Indexes/ DAX/ FX/VIX/GOLD
Posts: 180 since Apr 2010
Thanks: 53 given,
163
received
Beth, all you need is a single point on the ES each day and you've made it! Easier said than done, I know, but that is all you need if you up your position size over time ($500/day with 10 contracts). For this reason I would lock in a one point profit, having your stop move automatically then trail with a couple of ticks. It may mean you get stopped out with a smaller profit more often than not but at least you'll be increasing your account size and confidence over time. When you have more experience you'll be in a better position to ascertain whether the move has legs and let all or part of your position run, but in my opinion this will take time and experience in the market to be able to do and the majority of moves (at least on a 5 min chart) have a point in them. Meanwhile, if you take your 'daily' point and start on one contract you'll build your confidence and you'll be surprised how fast the money accumulates.
All the best,
ZCars
The following 3 users say Thank You to ZCars for this post:
Price currently trades at 1101.50 which is outside yesterday's Value Area (1107.25-1117.25). I do not have a Bottom VPOC as my list starts with 1110.75. Will use yesterday's Low @1098.75 for reference.
N has 2 leads this morning in the Georgian Bay area (2 hours drive from here). Just accepted his suggestion to go along. I will stay in the car and read a trading book or zozozo when he's with the potential customers .. smile ..
We will have a nice country drive + seeing some beautiful sceneries. Will be back in late afternoon to do some Market Replay practice.
Note to Big Mike: If we do take some photos, I may consider posting them LOL!
