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Well I hope everyone has had a good holiday. I am here listening to ZZ
TOP and going over my charts. I would like to give out some of my
thoughts to the new traders and experienced traders who want to lend an
ear. I day trade the SP 500, I guess that says enough about my trading
ideas. Just remember that futures trading is not brain surgery. All
you need to do is trade the KISS method(keep it simple stupid). Do not
trade to make the market meet your method, let your method work in the
market. I have been successful using some very basic
indicators(RSI,Keltner,MA,Stochastics,and basic chart bar formations).
Remember you can not get all the points. Also to the new traders, you
might be very surprised at how little some brokers know about the
markets. Remember no matter what happens with a trade they make a
commission and that's okay. After all I trade to make money and try to
better my life with it. Try to approach the market relaxed each
morning. Do not let a morning losing trade ruin the rest of the day.
You just missed on that trade. Regroup and nail the next trade. If you
use good money management and cut those losses you will do just fine.
Develop a trading method that you have confidence in(back testing and
paper trading ), but remember there is NOTHING like putting on a trade
in real time with real money. You can read about this as much as you
care, a real time trade will bring all kind of emotions to the surface.
Do not worry about leaving money on the table, if you have made a
profitable trade you have been successful. As time and your account
increase you can trade multiple contracts. This will allow you to take
off some contracts for the profit and let the others stay on. Even if
you do not get to trade on those days where a school child could make
winning trades( the past few weeks), there will always be other days
with big moves. I have also done like many new traders, I have my share
of futures material that was purchased from vendors. You can usually
find something good in all this material. Don't get caught up in
indicator overload. Remember you can have to many things on your
charts, what do you do when you get conflicting signals( flip a coin).
Well enough of this and back to the charts. I hope this might help some
of the traders out there!!
Expect to Win,
Neil
nck1@xxxxxxxxxxxxx
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