bathrobe

If you are asking me, for watching prints I use X_Trader, CTS is also good if you want to watch prints, however trading over an internet connection without DMA watching prints is not going to really help.

I just built an i5 2500 system for around 500$. I am not doing overclocking so the k does not matter for me. Trading is no where near as intensive as gaming so any chip with four cores would work

Tams, you have coined a new term! You should trademark the Hoffman effect.

To each his own. If it works continue obviously My way of trading does not involve this and I was sharing my point of view.

ah yes Hoffman, have you seen his youtube video where he says losing 312k is a learning experience! He promises another where he goes over the trade, I look forward to it. I googled Dr. Elder, I don't know if he trades/gambles or not. Is what Hoffman doing even legal? I am sure most of his "students" have very small accts. and are unaware that martingaling always leads to a blowup and most cannot afford to average losers like him I assume.

I googled him, he goes to traders expos and writes books, does he trade? PTJ does, and spends his free time counting his billions.

This story might help, you decide. After I proved to my father I could trade he backed me with a large amount of money, late 08-mid 2010. I traded well made money more than I could ever have imagined. One day I got into trouble and thought I would use my size to bail me out. I ended up exiting +1 tick but I had the most harrowing 2 hours of my life, I thought I was going to have a heart attack and I was not yet 30. I could feel my heart beating throughout my body. I was very very very lucky to get out but learned from the experience and changed my risk management to not do this ever again. Also, who is Dr. Alexander Elder, I don't know but I would bet he is a vendor of some sort and if I am right about that why is he not just trading. I am sure selling whatever takes up time he could be working on entries. Averaging losers will always catch up to you, check out the threads about Robert Hoffman with his -312k in a day. Best of luck to you.

You are much better off stopping out and re-entering if you still like the trade.

If anyone was in the room, what did he say after this?

I have something very similar, and I want to thank you UB, your thread on the indicator inspired me to work on creating something that would show activity.

stock screeners will help you, freestockcharts.com is good and I know you can filter what you want to see. I am not sure it they have a gap screener though they probably do.

Glad things trading wise are progressing well for you. when you become more comfortable with trading you may look to hold for larger gains but I think how long you hold is a matter of personal temperament so if you dont feel comfortable doing so, dont worry about it.

I personally don't actually care what the number is because I have seen it react differently so many times. I enter using my definition (mine may be different and probably is different) than others) of price action and order flow. On fed days or non farm payrolls the es moves so quickly by the time I see what I want and enter probably less than 1/2 a second a lot of times I end up with an entry that is late and far from ideal so this will often keep me out of the trade because my stops are based on levels and not a fixed stop. I do like your news trading idea of buying at the bottom of the sell off or wait for the correction, with the es I would be looking for an instant correction though, if you are using this for stocks I have never traded stocks on the news. My main market is the ES, I also trade the Ten Year.

Johnny Cakes, Earlier you said you were trading off news, where did you get your news? Also, and more importantly how did you deal with the scenario where a number beats wall street expectations by a lot and the market sells off (usually after a small rally to bring in retail)?

I was just trying to point you in the right direction because of the many sad stories I have heard about beginners in futures trading, I am sorry if I came off as abrasive. I wish you the best of luck!

accidentally hit quote instead of reply, meant for Johnnycake

First of all, I am trying to help. Pretty much all I learned about futures trading, I learned on my own. Nobody helped me in the beginning. In fact, most were opposed to answering questions and most were treating me like an idiot. What you need, imo is to have self discipline and solid risk management. You will not be aware of the level of difficulty in trading until you place a trade with real money. That is simply a fact. I mean this with no disrespect or cynicism but the points you are saying you make each day as a beginner in the es makes it sound as though you are without a plan or a reason to trade (setup). Instead something like "it's moving, I better get in". I know of 2 or 3 traders who in the beginning ran their account from 10k all the way to 50k in 3-6 months only to lose it all. I have a friend who started with 3k and was making about 5k a week for quite a while. With 9 years of market experience you must have a risk management plan, if you do not, get one.

I use no indicators in the sense that you mean. Find what works for you, if you can actually pull in 15 pts a day, I am confused as to why you are posting about paper trading.

live demo/sim is paper trading. What were/are you calling paper trading?

I use numbers that come from extensive analysis, but the numbers you posted were not ES numbers, I would start there

not those numbers but yes

Price action/Support Resistance

I don't trade the news, so I am not paying for anything. I would just make sure if I did it was the fastest, most reliable news there was. Which would be bloomberg or Thomson/reuters. These are over 17k a year.

Thursday is when most will start to trade march 2011. Also be careful of where you get your news and fixed stops.

@ES# MAE 1pt MFE 6.25 pts.