This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
Hola from Tacoma Washington all!
My name is Eric and I will be your noob blogpostee here on your minutes of distraction on this site this afternoon, evening, morning, whatever.
Just thought I would start off with some information that is useful with this link JSmineset
Go there, get your Gold on.
And now to me.
Sitrep:
A Real Estate Agent licensed in the State of Washington
Paper trading using Strategy Runner and watching on a daily basis EOTPRO.com.
Setup: Strategy Runner and no I would not recommend their trading system.
Account Start: $40,000, 12/8/07
Account Now: $53030
Morning Routine:
Up at 5:30,
at the “Office” by 6ish,
drink a breakfast shake,
ready to go by 6:30
Done in the afternoon, then RE Appointments
Trade Journal: Not Yet
Music: Techno di.fm
Trading Plan: Not anything worth mentioning. Asymetrical and getting better. Watching eotpro and sync with what is trading there. (Im Eric W there btw)
So how did I get such crazy sauce right up front. Blind Arse Luck. “Wow gold looks high, lets short it to see what happens.” I gambled on a gap play and scored 31 points in gold my personal favorate of 80 contracts riding a wave in ES for 150 points. Reverses for me do not work, its like chasing your tail while trying to run up Mt. Everest. Not very productive. I spent my first week just trying to get trailing stops to work. I loose 3 ticks just due to effeciency in getting an order in. Asside from the awesome that is Shelly and Bill in the room, I literally draw lines all over the map and notice these things called “flags, cups, W patterns, double tops” and think “ok these two trend lines are pinching off, there’s going to be a break out, which way?” Then the fickle coin of fate flips, I make a choice and usually stop out and go the other way and some now make it. Now Im avoiding the Mul-Mul-MULTICONTRACT fandangos and settling down to trading 1 contract at a time.
What I’ve Noticed..
You spend your first times just screwing up order entries
Then you spend your time figuring out stop losses
Then you stare at charts scratching your head and trying to train your brain to be a pattern recognision machine.
What I am really looking forward to..
asside form learning how to BUY RIGHT, SELL RIGHT, AND STOP LOSS RIGHT (the trinity of day trading)
and learning dicipline
trading in a consistant manor
then trading for abundance…
digging my teeth into Easy Language
a system with dual or quad proc, and monitors
one day trading a wholyshiznit worth and book a flight that day to goto Ireland.
one day trade a gehosaphat worth and take all my friends to Ireland with me.
take profits from day trading and vesting in stocks, real estate and other strats to create cashflow.
step 3: Profit!
Need to..
get my trading platform standarized so that I may standardize my plan for trading.
I seem to have an affinity for scalping.
find a new trading platform, got 2 days left on strat runner.
sign up over at eotpro.com
read more books :) some of them many times over.
a gagiling other things I bet as well.
More later,
E.
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
December 19th, 2007 at 6:04 am
I’d settle for lucky if it made me $10k. lol. 80 ES on a $50k account? Balls of steel, my man.
December 19th, 2007 at 9:25 am
great start…looking forward to seeing more
December 19th, 2007 at 9:27 am
There was a post where Richard laid down some of the risks. I think I volated all of them. Especially
Risk of Ruin.
E.