Wednesday, October 28, 2015

A rather odd reason to take a trade ...

... that also happens to be pretty even. Yes, pun intended.

See a tweet embedded below with my e-mini futures trading results from today's daily trading session. The market traded is YM, the Dow Jones e-mini futures market, my day trading market of choice.

Tuesday, October 27, 2015

750 daily e-mini futures trading results reports

That would be over the last 7 years or so. Meaning, 7 continuous years of e-mini futures day trading results.

For over 2 years I have also been tweeting my trades in near real-time. There is over a thousand of tweets like the one below (with a trading result confirmed by a screenshot) in  my media Twitter gallery.
That particular tweet is the last of the 10 (counting only those with trading results updates) that I posted today, the day of the 750th daily e-mini futures trading results report using KING, an e-mini futures trading methodology.

In 2013, I posted over 150 daily e-mini futures trading results reports. Last year also well over 100. This year due to some other commitments, mostly having to do with my consulting for a hedge fund, I am posting less, but I should be able to exceed half of the first number, though not by much, I am afraid.

But 100 pieces of evidence like that a year on average is about what you should expect from anyone who professes to be capable of trading or even having a clue about what it takes to make money in this business.

The more the better.

Sadly, the standard practice is just the opposite. The less evidence you see, the bigger the price tag. I wish I were making this up. I really, really do. I have seen trading "education" offered for $7,500 (and more!) with not a shred of evidence that the trading "teach" offering it could deliver consistent results for at least a whole week. It's all about marketing smoke and mirrors.

I have addressed this issue in more than one article on my site dedicated primarily to day trading e-mini futures, but also to the trading business and his dirty secrets, in general, to some extent. There is a whole section on my site called A Word of Advice with a subsection devoted to the trading marketplace, where I talk about things like that.

Cranking out "expert" knowledge in one e-book after another is one way this gets accomplished. For people who can trade, and are active traders, this is largely a waste of time. As is making videos. You can do this once, or twice, or even a few more times, to gain new experience, which is always fun, but doing this over and over quickly gets boring not to mention time consuming. No one, except those "desperate to teach" will be doing it.

Trading is much more fun than teaching it. But even that becomes boring over time, so you definitely want to take breaks from time to time to avoid a burnout.

Thursday, October 22, 2015

Dumb luck?

"Hardly so."

That's my answer, roughly speaking, to a question (not really posed), but implied that I received in an e-mail from one of a recent KING students. Not the most confident of such students, but then again as a total newbie to day trading e-mini futures, he can be excused for not having much faith in his trading abilities. Yet despite his doubts, his first simulated trading session was quite successful, so I don't think that his doubts were particularly warranted.

Still, as I point out in a recent article on my site, inspired by his e-mail, confidence and action are key to success, any success, and not only trading success. Taking action is even more important than having confidence because action creates clarity, and with it confidence tends to follow. In fact, confidence without action rings rather hollow. Take action and you may surprise yourself what you are capable of.

As I say in my response to his e-mail, KING is a pretty natural way of trading, so it's also natural to expect to be doing well with, sometimes even from the very start.

Wednesday, October 14, 2015

25 trades with 22 Twitter trading results updates

All of that today.

Below please see the last tweet with my trading results.

It's my new record too: 22 tweets in one day with e-mini futures trading results. The previous one was 17 (if I remember it well), but now with 22 I sure will have no problem remembering it.

The results are in my favorite e-mini market, the Dow Jones e-mini futures, often referred to as YM. The scalping methodology used to produce these and many other trades documented in my Twitter media gallery and on my site is KING, also a day trading course of the same name.

And did I mention that I also called a reversal in the market right on the money?

In real time and not in a video shot hours after the market close. Not the very first time, anyway. You will find more examples of that on this very same blog, even not so long ago.

The tweet above was made a minute before 3 P.M. EST or before the noon my local time. About 6 minutes prior to that the market made the absolute bottom and rallied about 60 points from it. It never returned to it. You can easily see all that from your YM chart (see also below; click on the image to enlarge it).

Thursday, October 08, 2015

Still fighting a nasty bug ...

That got me sick over last weekend.

It's pretty odd because it's only October and I live in Los Angeles where even Decembers don't look and feel like Decembers almost anywhere else in the US. There is no winter in LA, it's only a rain season, although lately it's not much of a rain season either, much to the despair of all California farmers.

But I hope to be back to trading next week. And to running my vendor business more actively. Well, while trading can be a great business, it's always good to have some extra income source for days like these. When you just cannot trade or at least it's not very wise to be doing so.

Last time I was suffering from this sort of viral infection was over 15 years ago, so maybe living in LA does have some advantages, while having some disadvantages at the same time because when you are not exposed to those little creatures for a while, when they do strike, you may suffer from them more than people in colder climes not being used to them as much as those folks are.

And that's the memo.