Wednesday, May 30, 2012

Emini trading results - 14 posts this month

As you can see in this page.

All of these 14 May posts are accompanied by screenshots showing my daily emini trading results that have been accomplished using KING, an e-mini day trading methodology slash emini trading course.

Well, make it 15. See the screenshot below with all the trades I took on May 31st.

Emini day trading results from May 31st, 2012. Obtained using KING.

Saturday, May 19, 2012

Twitter widget added to this glorious, awe inspiring, emini trading blog

In other words, I could not come up with a sillier title for this post. Here is a summary: I added a twitter widget to this blog.


 ? ?

Like what? Can you even start a sentence with a question mark? Well, I just did. The grammar freaks are probably all up in arms now. Yep, go ahead, denounce me on Twitter. Not only did I start it, I even ended it.

I am definitely not the biggest attention seeking whore on Twitter, but surprisingly enough, even I have well over 100 followers who don't mind at all that I follow none of them. I like it. That means that they are like me: not the biggest attention seeking whores in this part of the Universe.

Now, if you want to join me on Twitter and don't mind that I will not follow you back, then feel free to do so.

Thursday, May 17, 2012

Emini trading results - the first daily $1000+ this year

Check out this screenshot to see what I mean.

It comes from May 17th, 2012, meaning today. It shows my YM trades, YM being the Dow emini futures ticker symbol. The total result is over $1000.

I started the day well, at a time rather unusual  for me because I rarely start trading during the first half an hour of the daily trading session, and was up over $500 within the first 30 minutes or so.

Then I took a nap, run a few errands and stuff, and came back to see what the market was doing. I could not resist taking a few more shots and that's how I went from the lucky 7 to the lucky 13, and they say that the latter is not supposed to be lucky. Well, it turns out that it can be.

That's my first daily emini trading result over $1000 this year. Last year I showed a few of those, including one over $2000 as you can see here. The results were obtained using KING, my emini day trading methodology. For more about KING, see its main page.

Wednesday, May 16, 2012

My not so apologetic take on trading forums

Yep, I am at it again.

This time I have Mr. Nasreddin Hodja on my side. Never heard of him? Well, that's probably because he has been long dead. Happens to most people. But he is still quite a popular fellow, especially in Turkey and the neighboring countries. See Wikipedia for more on this wise man, who allegedly lived in Turkey in the 13th century. Yes, that was after dinosaurs.

My take on trading forums has been posted on my site just recently in its A Word of Advice section that I do recommend to everyone, especially those new to day trading emini futures.

It's here.

Monday, May 14, 2012

Emini trading results - yet another full week

Last week, I completed yet another full week of posting emini day trading results on my website. The results have been obtained using KING, an emini day trading methodology. KING is also an extensive e-mini trading course.

These trading results can be checked out in this section. That's the fourth full week of results posted this year. Last year, I have posted ten such weeks, and a year before that, on four occasions, I posted results that span 2 weeks or more and a number of week long results as well.

The market traded by me is YM, a Dow Jones emini futures. I may also trade ES, an S&P 500 e-mini futures, but that is very rare these days.

Wednesday, May 09, 2012

Trading forums and the "professional" media integrity

Here is a story that seemed so bizarre that clearly could only be false. It concerned a Polish dentist. More precisely, a Polish female dentist who, according to the media reports, was "facing three years in prison after she removed all of her ex-boyfriend's teeth during dental surgery just days after their breakup."

Being Polish I was obviously quite surprised, if not embarrassed by it, yet strangely enough I could not find any references to it in the Polish online media. I did not know what to think of it, but considering that Poles tend to be quiet introverts, this kind of Lorena Bobbit aggression seemed pretty unlikely to me. Still, things happen and not all Poles are a reserved kind.

Well, it turns out that the story was totally fake and yet it was reported by many major newspapers, such as The Los Angeles Times or The San Francisco Chronicle.

If the "professional" media cannot get a story that outlandish verified properly before printing it, what are are the odds that the stuff from the anonymous sources you read on the Internet every day is true? I am afraid that the odds are not particularly good, and I am afraid even more that the public is still largely unaware of it.

And by the same token, what are the odds that the stuff posted on trading forums that tend to attract some of the more deranged individuals you can come across online, is any true?

Needless to say, the odds are even worse. I know something about it, I have seen quite a few of those forums, and in due time, when I am done with more pressing issues, I hope to address it on my site. Again, because I have done so in the past too, although from a different perspective.

You might be quite shocked to find out how much fabrication, of the kind I talk above, if not plain smear is propagated on forums like that, especially on one of them, that, in my opinion, is a true smear, sleaze and slander facility, while pretending to be the total opposite.

Sunday, May 06, 2012

George IV (e-mini day trading system) delivers again ...

It did it again, this past Friday, and to the tune of 60 points in YM, the market that I follow quite closely.

Interestingly enough, the system was designed for ES, the S&P 500 emini futures contract, but it turned out to work for YM, the Dow emini futures market, quite well, too.

I decided to offer this system for sale again a few weeks ago, because I think its ideas can be quite useful for building strategies, but you can also use it as it was originally designed. In the latter case, you may want to modify it a bit, as the volatility conditions the system was designed for are not often present these days, but on really volatile days this system can deliver as well as it did in its glorious days.

I intend to modify this system, so that it produces fewer trades, but more reliable, which means that it will work only on days of truly great volatility.

You can check out its past equity curve (that's for ES). It is similar for YM. It's built out of quite a number of points (about 100).

For more about the system check out this page.

Saturday, May 05, 2012

Why most people do not succeed at day trading emini futures

There could be more than one reason for that, but one definitely stands out and it's universal: they simply give up.

Yes, it's universal and applies to practically every field of human endeavor worth pursuing and hence being relatively challenging. I have known it for quite a while and I have mentioned it a number of times on my website, but let me re-iterate it one more time.

The reason why so many fail at day trading emini futures or trading, in general, has nothing to do with trading being more difficult than many other occupations. This, I believe, is a myth, perpetuated by the trading psychobabble industry that wants you to believe that the main reason traders fail is because of the mental aspects of trading that most people handle indeed pretty poorly.

No, the main reason this is so is because they don't have what it takes to be successful and hence they just quit. Happens all the time, across many occupations or professions that people choose to pursue. It has nothing to do with trading  per se.

Let me give you one more example of this that I just found in the recent Reuters news. The example, posted by Reuters on May 2nd, 2012, has to do with with the free online course offered by the Massachusetts Institute of Technology (MIT).

Here is the relevant piece: "MIT said 120,000 people signed up for the first such course - Introduction to Circuits and Electronics - that MITx rolled out earlier this year. Halfway through the course, some 20,000 were still actively keeping up with it."

See? That means that 80% or more have given up already halfway through the course. Same with trading. Yes, it's challenging, but the 90% or so failure rate among wannabe traders should not be attributed to trading being somehow particularly challenging. Not at all. It should be attributed first and foremost to a simple fact that 80% of humans don't have or even don't know what it takes to be successful and hence end up as losers, whether they like to be called that way or not, and so no wonder that there are so many of those among traders as well.

If you are considering an emini trading career, you may want to keep in mind that it's your commitment, passion, desire to succeed that are much more likely to make or break you as a trader than some arcane aspects of trading psychology (or virtually anything, for that matter) and I don't mean to discount trading psychology, but I do think that it tends to be pretty overrated.

I posted an extended version of this article on my site as well, in its section called "A Word of Advice." This section is here.

Friday, May 04, 2012

Hunting for 10-pointers or how good is your emini day trading?

A picture is said to be worth a 1000 words, so here it is.

It shows all 6 trades of May 4th, a good trading day for stock index emini futures such as YM, the Dow e-mini futures contract. Five of them were 10-pointers, per contract, not per position, the latter ranging from 2 to 4 contracts. For more about today's results and others of this kind, please check out this page.

All trades were taken following the ideas of KING, an emini day trading methodology, that you cam learn more about on my website.