newtrader

Thank you for the generous offer Tingull. I actually own a copy myself. It's a great trading book well worth the price.

Thank you for the tips and comments. I am looking to start with $50k risk capital but if I do decide to start with the emini futures, I willl look to trade 1 contract at a time. MrPaul, as a new trader starting out in intraday trading should I start with stocks until I understand the basics of trading? My only problem is that I am not too comfortable with Level 2 and the manipulation behind it. I find the futures market alot more fair. Ill make sure to go through the forum thoroughly this week. It seems there is alot of good information here. Thanks again.

Hello TinGull, From my understanding there are no market makers in the futures market? Would this make it easier to trade without the market maker games? Also how do you follow the entire basket of stocks for lets say the S&P 500 emini's. Wouldnt this be too hard to follow?

Stock trading seems to be more popular than the futures market. For a starting trader should one look to begin in the stock market? Why do most traders trade equities and not futures? If a trader can make 2-3 ES points a day consistently, all he needs to do is to increase size which will generate a decent income. With the leverage and liquidity offered in the index futures I would think this offers a better bang for the buck. Any thoughts on this?

Ive read alot on this forum about indicators being useless. However, I do think price and indicator divergence signals can be taken as a powerful trading signal. If divergences such as RSI and MACD offers trading opportunities, why dont you guys use them? Thanks

I often hear of the term arbitrage used with hedge funds and investment banks. Can anyone explain to me what exactly arbitrage means? Thanks

I have no clue how to look at the tape or what I am supposed to be watching for. Will I be able to understand it just by staring at it?

Very appreciated. Thank you Soul.

Thank you. I have looked everywhere for some good tape reading educational materials but failed to find any. Can you recommend any books?

I have been trading for a few months without any success. Ive hit a mental block in my trading career. I spent quite some time researching and reading every book I can get my hands on over the past 10 months or so. I need good trading advice that can help me change my trading. I keep a trading journal which is flooded with all the wrongs things I have done. Ive tested every indicator possible, studied strategies of authors, etc... I can not seem to figure it out. What am I missing?