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MrPaul
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Everything posted by MrPaul
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Ant thank you very much! This info is invaluable:cool:
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Here's my trading desk
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Sudha, You can get TRIN, TICK charts through IB's charts. "TICK-NYSE" TRIN-NYSE" on the TWS quotescreen. Just size the charts down and draw a "zero" line for the TICK. As far as charting you can subscribe to a charting program like SierraCharts or Investor R/T if you dont like IB's stuff. A free charting program for IB customers is http://www.Ibcharts.com
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One turning point for me was when I started looking harder at how I was using my risk against my reward not a ratio or a formula but looking as to what kind of risks I was taking to get the profits I sought. Position sizing, I found the way I was positioning myself was just as important as where my stop was. Once again, this is not a % or calculation. I developed a method that I trusted. I trusted it because I manually back tested it, and watched it closely in real time noting the subtle nature of it in different conditions. As far as books that had the biggest impact: The 21 irrefutable truths of trading Zen in the markets Think and grow rich (really helped when things looked bleak) As far as indicators: KISS, seriously, the BEST method of trading markets is the simplest one you can develop that works for you. To wrap up, when I started listening and watching the markets, I did much better than when I held an opinion and ordered the markets to obey it:mad: . I think of it like this...The market will generate enough information for you to become wealthier than your wildest dreams. The only thing standing in your way is You. All of these components blended together to help bring success to my trading.
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If you are trading multiple contracts you could scale out half or 2/3 etc. This allows you to cut your risk while still ensuring the potentiality of your original plan. I've done that a couple times and been stopped on the last portion, and i've also had a trade run the way my plan was geared towards.
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Leroy Rushing on Advanced Trading Strategies
MrPaul replied to Soultrader's topic in General Discussion
Looking forward to it! -
Lets see with my current skill levels i'm open to some pretty exciting endeavor Bingo Selling Blood CAT scan guinnee pig Petty theft Adult video store mystery shopper The list goes on.....
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LOL good stuff
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How moving averages can be effectively used for day trading E-mini?
MrPaul replied to sudha78's topic in Beginners Forum
sudha, Perhaps you could explain how you ue MA's for swing and longer term trading...Using a moving average intraday is very similar:) -
Good video brotha, I enjoyed it!
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Well Gandhiadg, those are some good questions but they could certainly end up with some subjective answers. Let's try to clear it up a bit...When you say short term trading are you referring to a swing approach? And secondly there are about 20 different answers to those questions depending on the type of chart you were to look at ( ex. price trending, rangebound, and daily, weekly, intraday etc etc) If you could be just a little more specific I could probably offer you more help
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Excellent points Soultrader...Here's a good thesis on Position Sizing if anyone is interested. Worth the read;) http://www.trading-naked.com/library/position_sizing.pdf
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Thanks for the post Soul...Im gonna go read about it some more:cool:
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Great story, Glad to have you on the forums!
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Thanks for the detailed post Soul. I have been taking a closer look at fib levels ever since I have been noticing them on the ER2. I see there are a couple new members who use fib studies, I'll be interested to see where this discussion may lead...
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Good to have you here journeyback, welcome!
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Welcome to the forums keymoo! sry if your post reads at the bottom " Last edited by MrPaul : Today at 02:28 PM." I hit edit instead of quote...:o
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Hey Sniper welcome to the site, I have been noticing the afternoon 50% retracements lately in the ER2, almost picture perfect. What kind of setups do you like to play?
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What browser did you use for your Mac?
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hahaha nice
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Sit in a quiet place and just meditate, be thankful for your health, your loved ones, and the opportunity to be burned out. Maybe take some extra time during lunch hour trading to do something you like. Taking time away from trading can be missed opportunity for profit, but it can leave you refreshed Take a long walk. This is just what I do when I get worn, although it doesn't happen often now that I implement the above when I can.
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Hey nicknextmove, If you don't mind me asking why was your entry bad?
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I agree! I like to put stops close enough to be valid from a money management standpoint, but intelligently placed under areas of "Price looks like it's reversing here" type of thinking.
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Hey sudha78, The "ER2" is an e-mini stock index future contract From CME: CME® E-mini® Russell 2000® futures and options on futures offer investors an affordable way to trade the Russell 2000 Index, a key benchmark index for small-cap stocks. The CME E-mini Russell 2000 product is one-fifth the size of its standard counterpart and trades exclusively on the CME Globex® electronic trading system. Link: CME E-mini Russell 2000 Futures & Options
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I like to use it when it's right in line with a pivot either for support or resistance. An example would be price at VAL on the chart you posted. Imo it is most effective this way.