Emini Futures Trading Room

Futures Trader Chris

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Gender: Male
Country: United States
User Level: a
Join Date: Apr 03, 2013
Last Session: Dec 12, 2017

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Posted by Chris 2013-04-10 01:42:29:

Today was an interesting day. Once again I get in for the afternoon session and made a pretty quick determination that I wanted to be short. The market itself was giving me the same set up I saw in the prior day. This set was a pretty simple set up and it relies more on an understanding of situation more than anything. As the market approaches a double top most traders will be looking, waiting and staying discipline!

Thats great and all, but chances are price will make its way lower from a lower price resistance than that double top area.

Why is this?

It probably has a lot to do with the "market" realizing it is just to easy of a trade. Maybe its even traders jumping in a little too early that prevents that final push as it was clear the direction price may end up. Whatever the real reason I hope the traders today were able to see and learn from this price action and capitalize on it on their own, next time it occurs.

Posted by tr2000 2013-04-09 06:41:39:
Thanks Chris for this room. I have been here for a short time but am learning a lot. I don't know why most trades are called because I don't know what setups are being used. Maybe when we can share charts and other information I will know what is going on. Thanks.
Reply by Chris 2013-04-09 13:33:26:
Hey tr2000. A lot of the learning should come from each traders user would be very hard to explain every trade in the chat room. You all can easily share charts using the view/add chart button above. Each of you has a page like this so if you have a trader who you want to ask more from select them in the column on the right and send them a friend request. It is up to them if they want to become a trading buddy with you. The only way you'll find out is if you try.Feel free to continue to ask away. We're already friends so you have the ability to post here.
Posted by Chris 2013-04-08 18:36:02:
Today was an interesting day for a Monday. I noticed a few areas of interest in the morning yet held off until the afternoon session to place any trades. I did this only because I was keeping an eye on the overnight session and needed to know that I Today was an interesting day for a Monday. I noticed a few areas of interest in the morning yet held off until the afternoon session to place any trades. I did this only because I was keeping an eye on the overnight session and needed to know that I was ready to go before I made any trades. What does this spell out to in plain English? I needed sleep! Remember that your best bet is to either skip the next day after an overnight watch/trade party or wait until you actually feel up to take on the market. The market is unforgiving and today I managed to keep everything within reason by simply using less contracts. I came into the afternoon session knowing my limit of one contract before hand. Though the market emphasized this point to me any way I feel its important to understand that this approach would have been taken no matter what. If you can as a trader understand your limitations you're well on your way to success.

I've been through many a situations where I thought I was super human. I've learned the hard way in the past that I was terribly wrong. What I can do when e-mini trading will go no further than my ability to sustain a clear head. Staying up and trying to trade both the overnight session and the day session consecutively is by no means the way to maintain clear decisions. I've wrote on it in the past as I finally realized it was happening. The main point of the previous article was that as a trader with lack of sleep you tend to develop ghost habits which are hard to break. Not only will you possibly make bad decisions at the time of overnight trading you will make poor trade decisions the next day. It's of course the good ol' fashion double whammy! So I'm glad I was able to maintain discipline in contract size and I'm also glad the market helped me by placing me in that mode anyways. Sometimes the market has a way of tugging your emotions even when you know you should be sticking to certain rules.
Posted by chris 2013-04-01 20:12:18:
Excited to have the new site up and ready...waiting to read and browse the community market updates!
FULL RISK DISCLOSURE: Futures trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

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