Okay, now that that's out of the way - a little background. I have been around the block a few times. I am like an old worn out street whore who just can't stop turning tricks.
You might have some fun with me, but most likely, if you find yourself in my company you are more than likely really just desperate. Life has dealt you a few blows but you are still standing and for some reason still optimistic about your future.So after years of trading... Some very profitable... Some outright reckless... I realize that the successful speculator is not necessarily the smartest guy in the room but the guy (or gal) who can control their emotions - consistently. Your trading strategy really doesn't matter - what matters is your risk management and your discipline in keeping it. If and only IF!
If—
If you can keep your head when all about you
Are losing theirs and blaming it on you,
If you can trust yourself when all men doubt you,
But make allowance for their doubting too;
If you can wait and not be tired by waiting,
Or being lied about, don’t deal in lies,
Or being hated, don’t give way to hating,
And yet don’t look too good, nor talk too wise:
If you can dream—and not make dreams your master;
If you can think—and not make thoughts your aim;
If you can meet with Triumph and Disaster
And treat those two impostors just the same;
If you can bear to hear the truth you’ve spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build ’em up with worn-out tools:
If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: ‘Hold on!’
If you can talk with crowds and keep your virtue,
Or walk with Kings—nor lose the common touch,
If neither foes nor loving friends can hurt you,
If all men count with you, but none too much;
If you can fill the unforgiving minute
With sixty seconds’ worth of distance run,
Yours is the Earth and everything that’s in it,
And—which is more—you’ll be a Man, my son!
But I digress.
Like I was saying, you can make money trading any strategy you find on this forum if your reward is always multiples of your risk. Risk management and discipline of adhering to said risk management is more important than your stupid trading edge. The holy grail of trading is RISK MANAGEMENT! But like I said before, don't listen to me unless you want to lose money!
If it sounds like I am rambling it is probably because it is late evening where I reside and I often partake in the ritual of savoring some single malt scotch before bedtime. Don't worry though - I will be lucid by 9:30 A.M EST.
okay - onto the somewhat tried and tested strategy that will be my trading journal.
Every trading day at precisely 9:30 AM Eastern Standard Time - I will be in front of my screen, coffee in hand, ready to trade! At precisely 9:30:30 AM - exactly 30 seconds after the futures market opens, I will mark the high and low of the session (the first 30 seconds). WHEN price breaks out of the 30 second range, I enter in the direction of the breakout.
LOL! That is it. That is my trading strategy. So simple any retard could follow it.
So... decide now. Do you really want to follow this journal.
