Today was another fine day.  I cut down on my contract size just because.  I still pulled in $1,000 dollars.  Today you will see what I have been trying to do, and that is get some video up of the trading day. 

Yesterday was my first day for this.  Today is the second.  I will now start posting my trades for the first half hour of the day, every day.  Sometimes I will have live video of this, and other times still shots, but with audio narration of the trades at least. 

Today I have 5 posts of video, with an explanation of the basic way I trade the S&P E-Mini futures.  You will start to see a pattern of all my trades.  The market is different every day, but it does one thing the same every day, and that is MOVE.  It moves up and down and down and up.  Sounds a little silly, but I am just trying to make a point.  The movement is key. It does not matter which way.

Sometimes we don’t know how far it will move in one direction and that is OK.  Our job is to react to the movement and not predict it.  This is so very important. I still struggle a little with this myself. Do not form an opinion so strong that you cannot see what is clearly in front of you.   That is why I have my own personal trading scripts in front of me, reminding me of the rules and other simple things to remember.  We are all human and trading profitably is not a natural thing.  It has to be learned.  It is much easier to follow your emotions but that will only lead you to a wipe out.  There is only one person who will not allow you to succeed and that person is YOU. 

Most traders beat themselves because of a lack of discipline, focus, and patience.  Those are the three things you really must come to understand about yourself if you are going to remain profitable.  It is possible to be profitable every day with the trades that I make.  I have been doing it now for some time but I have to stay on my guard.  It is very attainable if you keep it simple and focus, concentrate, and use some patience between trades. 

My signals come pretty fast, especially in the first part of the day.  That is not a bad thing, once you get comfortable with the process. Don’t over react when you have a loss, just take a deep breath and wait for the next clear signal.  If it’s not very clear, then don’t take it.  You need to instill confidence in yourself and that can only come when you are able to put winning trades together, one after another.  We don’t need to hit many trades to make good money.  With a 20,000 account you can trade 10 contracts comfortably. With hitting only 4 trades of 1/2 point, you pick up $1,000 in less than 10 minutes. There were 20 trades in the first 30 minutes.  

Here are my comments on some of the signals from today.  There were a lot of them, and that is how it is for most days.  Today was just another typical day. 

Enjoy, Vince

http://www.screencast.com/t/PDULulhkou0

http://www.screencast.com/t/sfBigFhqogh

http://www.screencast.com/t/ha3mYR44v4

http://www.screencast.com/t/JGRnD18Fe

http://www.screencast.com/t/9jSRiLiaXeo