HaloTrader
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Oh, yes! When I first started trading with them they were very dishonest. Every time I put on a position they would take out my stopBut, with time I found that the more I studied and practiced the more honest they became and they started to give me more profits. I think you will find this happens with most brokers. ie/ The better you get at trading the more honest they become. Try and find a broker who specifies in their Terms and Conditions: "11a. We will only be honest if you are a good trader."
Hey dude ^^
I know we've had lil' bitch session before but i've read quite a lot of your comments and your journal and everything you do and say, i always agree with. Since you've been trading longer than me, and are in a way at the stage of trading i want to be (Trading ES DMA discretionary price action) in the next 6 months... I just wanted to ask you a few questions, be great if you could reply.
I noticed you use 0.75 pip stop loss on the ES on a 1-minute chart if thats right?
I totally agree with having a tight stop loss, getting into positions with momentum or before a breakout is the way to trade, people that disagree but are profitable simply need to learn what happens when their trade finally moves into profit and use that as their trigger!
But anyway.... Do you use a 1-minute chart, or is that just your trigger for your entry and you use higher-time frame to look for setups or to guage market direction?
You consistantly refer to using a methodology rather than a system - Which as time passes by, more and more i realise the reality in this statement, everyone looks for systems - No effort, 'guarantees', people want to avoid any decision process and i think thats why some get so stuck up in trying to search for new systems, wondering why this crossover didn't work and trying a different parameter.
What i've learnt in my trading is that i can develop setups and these setups on any particular trade, if all of them are taken may create a profit or loss... Either way they identify areas of increase probability of the direction of the market and also areas of probable momentum... Most people want to use these setups in a system, but rather i'm learning thats not the way to trade - Rather to use technical analysis and other tools to guage the market and then use the setups as an entry to confirm your analysis. For example, a supply level is hit and the market turns and a setup appears - I will take this, rather than just every single one that comes on my screen. Furthermore i will study the appearance of the setup as i've found certain variables decrease the odds such as the length of the bars on the setup bars etc etc... Through doing this discretionary trading, i am using discpline in my entries and giving my self an additional edge in only taking trades which are in the direction of my assumed analysis and through doing so i am becomming far more proficient in being consistantly profitable rather than letting a losing day occur due to taking all my setups just because i tell myself i have a system...
Enough rambling.
What i wanted to ask is what is your methodology - I don't mean in terms of telling me everything, you constantly disgress that you think developing a sound methodology is very important.
I feel your words apply to me and therefore any information i can scalp from you important.
What is your methodology for entries... Do you study support and resistance and have specific setups for when prices breakout or fade or? Just a general outline, nothing specific.
I would be grateful if you replied - You the man
