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emg
Market Wizard-
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Everything posted by emg
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You will have to create your system on managing loss. Managing loss equal profit target. My profit target is 1pt. Therefore, 1pt profit target equal 2 ticks loss based on add to average. I rarely add and don't remember when was the last time i lose. But, the es rarely hit my entry price meaning too many no trade days. Adding involves substantial risk which is why my insurance policy is $100K per contract day trading in the es only. More than 90% of small traders blow their accounts by adding to average. The reason is, they do not know how to add. Many add to average 1-3 ticks against which is ridiculous because u are adding more risk by increasing leverage for no reason. The purpose of adding is to move your average price close to the market price. From there, u take small loss. Adding 1-3 ticks against is not the way to go because that will only move your average price 1 tick. You want to be able to move your average price 3-5pts during medium trend day and 5-10pts during big trend day. To do that, you need a sufficient funds and start 1 contract. Trading is all about managing loss, not to focus on profit. If one can focus on managing loss that will cut the greed. When i am in a trade knowing my profit target is 1pt, i am focusing on managing my loss if the market goes against me and not hoping and praying the market hits my 1pt profit. This explain why i am still in the game for more than 10 yrs and counting. Good luck on your trading
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Good Morning Traders!
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Well, I trade for living. I trade to pay my bills.
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Only a 3rd party educational vendors will sell their systems.
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like i said many times, $100K per contract to day trade the es. The reason is using the $100K as an insurance. Imagine owning and driving a car without an insurance. Is that a lot of heat? Imagine you are involved in a deadly accident and at fault? Imagine u have no insurance. Definition of an insurance: the action, process, or means of insuring or the state of being insured usually against loss or damage by a contingent event (as death, fire, accident, or sickness) Having a car insurance help driver keep their mind in peace and be able to minimize loss when or if accident happen. Unfortunately, trading does not have insurance. To keep traders mind in peace is to create their own insurance policy. My insurance policy is when day trading the es is $100K per contract. That will minimize my loss during unforeseen crash. Imagine insurance does not exist. Imagine everybody is driving a car without an insurance. Imagine everybody owns a house without insurance. 99.9% of homeowners, car owners lose. or bankrupt if unforeseen events happen whether they are at fault of not. More than 90% of small traders lose. They just lose! Good Luck to your trading.
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plan on going long 1297.00
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Good Afternoon Traders!
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plan on gong long. 1299.75
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when will you begin posting your trades? u have been in here since 2008. After all, you are a market wizard right?
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Good Morning Traders!
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I am curious. When are you going to post some trades?
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is that your opinion on how the funds managers trade the es?
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Good Morning Traders
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plan on going short 1291.00
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Nice that you work for hedge fund, but many hedge funds are going bankrupt. HFT is replacing Hedge Fund.
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Good Morning Traders!
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order cancel............
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order pending................
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order cancel. plan on going long 1241.00
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plan on going long 1251.75
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Good Morning Traders!
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plan on going long 1236.75
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Good Morning Traders!
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plan on going long 1275.75
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order cancel. missed by 2 ticks