REALITY
All that is written here, and on this website, are my opinions and observations. Now and then I may add comments from others if they wish to contribute. I will list topics and eventually I will comment on these topics. You may not agree with me but some of the information may help you in some way.
I would like to clarify that I do not agree with the statements below in brown and that they, in my opinion, can be considered as myths.
-All people have the ability to trade successfully.
In reality, I believe most people have the ability to trade successfully, but not the desire, motivation or discipline. If they did, then it would be 10% who lose and not the 90% or so who do. So, what is the problem? As mentioned, I believe it to be discipline, motivation and desire, not to mention the focus. If trading success is a sincere goal, then I would focus on one chart. Watch this chart every day. A time will come when you will see similarities as to how the price reacts in certain areas day after day. Instead of sitting in a chat room looking for a method or taking trades from someone else, spend some quiet time and study a chart. This is the best way to begin. Most people have the ability, but they may need to change their trading personality and habits.
- You can count on those magical fills.
In reality, don't count on them. If you want to enter a trade or exit a trade on a limit order, the price usually, and when I say usually I mean almost every time, has to go through your number. Don't let anyone give you the " I was at the top of the que" garbage. The only time when you may get constant fills without the price going through the price is if you are using some demo domes. The trader thinks that this is how the market works and then they go live and get wiped out. I am not saying it never happens, but it seems so common with the gurus in the chat rooms. I would never count on it happening. When I found out that someone opened a room with a name similar to mine, I stopped in. Here is what took place in the short time I was there. Price was at 1310 and he calls a short at 1311 if the price gets up there. So, this is a sell LIMIT. The price goes to 1311, ticks it and comes down to 1310.25. It ticks 1310.25 and heads back up again, going thru 1311 and up to the 1313 area, for a stop out. This guy tells everyone that the trade was a 3 tick success. He got filled short on a limit order at 1311 and when it ticked 1310.25 a buy LIMIT, 3 ticks away, he was filled again to exit the trade. Are you kidding me. He had 2 magical fills. This is similar to the magic loogy I guess. The above refers to LIMIT orders. If you want to enter on a STOP order, you will usually get filled at your price. For instance, if the price is at 1310.25 and you want to go long at 1311.00 if the price gets there, that is a buy stop and you will normally get that fill. Other stuff went on in there that was confusing but I will stop my comments here.
-There are days that the market can not be traded.
The reality is that as long as the markets are open, they can be traded. There are those vendors or so called experts who advise traders not to trade during holiday weeks. This is absurd. You should not let potential profit slip by because you are trading a method that encourages you to stand aside during certain times of the year. If this is the situation you are facing, and you would prefer to make the best use of every trading day, then it is in your best interest to find a method that is market friendly every day the market is open. Look at some of the videos and screen shots I posted and check the dates. How can anyone say the market can not be traded. Of course, there may be times during the trading day that you may not want to take a trade. This is trade sense and proper trading logic, and depends on setups, targets, etc, which are created by the market, NOT the method.
-I just need that special method or system that allows me to just push a button and I will become profitable.
The reality is that this just does not exist. Regardless of what you may have heard, read or thought, successful trading is much more than just pushing a button. This is where many traders get hurt. You have a system where two moving averages cross and that signals an entry, or the CCI crosses 100 and this signals an entry. Well, unless you know where the target is, you are probably going to get stopped. There are areas that you do not take trades in and I believe them to be "common sense" trade areas. If your indicator system does not identify these areas, then you will have trade success issues. I have to believe that this may be the case in a lot of instances as most traders use indicator methods for their trading. Your focus should always be on the price, not the indicator. Once you become familiar with key areas, then your trading may improve. As one of our traders recently stated "unbelievable, it's been in front of me for ever and i have seen these key areas in my sub conscious". You may need something to help you identify entry and target areas. If you take the time to work on this, the confidence can not be far behind.
-Trading the markets is about winning and losing.
In reality, trading the markets IS NOT about winning and losing. If this is the mindset you trade with, then you are gambling. Trading is a business and it should be about profits and the cost of doing business. The cost of doing business is what your costs to operate are as well as the stops you encounter. Stops are inevitable, but as you increase your trading skills, stops should be minimized. How do you increase your trading skills? Practice and screen time as well as a successfull method to assist you in moving in a profitable direction. The more you put into it, the more you get out of it. This is the same for any business or venture. So the question is: If I practice and put in the screen time, what am I looking for? Good question. The market goes up, it goes down and at times it can go flat. Yes, you do need something to tell you what to look for.
-I have an indicator that minimizes chop
In reality, there is no such indicator. I attended a webinar a while ago and the presenter stated " I have an indicator that minimizes chop". The presenter repeated this statement a second time. I viewed the comment box and the response was alarming. People responded by asking how much is it, how can we get it, where do I find this on your website. I was astounded to think that traders actually believed that an indicator has the ability to alter the way the market moves. If anyone really thinks that any indicator has the ability to change market conditions, then they are truly not familiar with the market.
-A stop is your best friend.
In reality, a stop is NOT your best friend. I hear this from vendors who have methods available. If you believe this, then I have a bridge in Arizona for sale. If you want to be a successful trader then this negative way of thinking has to be changed. Only those who have methods that get stopped often would think like this. Why would any trader want to get involved with a method that subtley tells you that you will be getting stopped often. Your focus should not be on your stop, it should be on your profit goal. Your PROFIT is your best friend. This industry is just full of negative vibes that twist the meaning to make it seem positive. This is because most traders are not successful and they want you back to give up more of your hard earned dollars. If you ever hear a vendor tell you that a stop is your best friend, I encourage you to stay away.
TESTIMONIAL DISCLOSURE: TESTIMONIALS APPEARING ON EminiScalp.com MAY NOT BE REPRESENTATIVE OF THE EXPERIENCE OF OTHER CLIENTS OR CUSTOMERS AND IS NOT A GUARANTEE OF FUTURE PERFORMANCE OR SUCCESS.
Copyright © 2022 Eminiscalp.com All rights reserved.
U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. Any and all trades and setups mentioned in this website, www.eminiscalp.com, are either hypothetical or are taken in simulated mode.
The purchase, sale or advice regarding Futures Trades can only be performed by a licensed Broker/Dealer and no one affiliated with www.eminiscalp.com or any affiliates or associates involved in the production and maintenance of these products or this site, is a registered Broker/Dealer or Investment Advisor in any State or Federally-sanctioned jurisdiction. All purchasers of products referenced at this site are encouraged to consult with a licensed representative of their choice regarding any particular trade or trading strategy. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. EminiScalp reserves the right not to sell or offer any of their products to anyone, this being determined on a sale by sale basis. EminiScalp also reserves the right to change the conditions of sale to any purchaser, at any time. Potential purchasers have the right to refuse to purchase any products from EminiScalp based on the previous statements.