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Weston

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  1. Hi, Shooly - FWIW: I'm in about the same boat as you. Very small account and I've been watching and sim trading for years. You might consider trading instruments with less value per tick: DX, 6B, ZF, although DX and 6B are usually rather thin and "jumpy", with slippage more likely. ZF has good volume but, if you've been watching ES, it's excruciatingly slow. For me, I started to do a lot better in seeing the market when I dumped all the indicators, even a simple MA. Now, I just look at price action and for chart patterns that are somewhat "predictable" and make sense to me. After a while, you just get a feel for what the market's doing and I find that feel comes a lot easier without the distraction of Bollinger Bands, CCI, RSI, Donchian channels or any other lagging indicator. I think the closer you can get to seeing the price and only the price, the better you can get at judging the "psychology" of the market (like: retraces in a trend are simply profit-taking by those who got in early ... and so on). And, along those lines, I switched to range charts long ago. Though others may have good arguments about how one can use time to help in profitable trading, it just makes intuitive sense to ME that what we're really interested in is price. It's all about finding some sort of edge, developing confidence in that edge and not freaking out when a trade off a solid setup goes against you. It's a numbers game, as I'm sure you know, and even a 55/45 edge can make you profitable if you manage your risk and money properly. It ain't easy, but no one ever said it would be (unless they were trying to sell you their latest magic system). Good luck.
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