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I can confidently say I do not currently have the temperament to trade the Nasdaq effectively Lol
Today I did end up making a couple bucks but I decided to do a mid year review of where my trading is and where I want it to be below i have attached 6 month results.
Dow YM: This is the index I will be moving forward with in my trading I traded it and the ES very similarly but the ES I allow myself to break rules and with the Dow futures I just Oddly feel like I understand it not in a cocky or arrogant way but in a accepting risk type of a way. I treat the Nasdaq and the ES like lottery tickets and get excited and sad with the dow I stay much more process oriented which allows me to focus on improving the things I can not focusing on the P&L. No more gambling.
Looking at these results being a long only trader may be the way to go for me also
Dow Trading For the Year
Can you help answer these questions from other members on NexusFi?
Congrats and Well done for being profitable. You are already in the elite league of 5% of retail traders. The goal is to stay in the same league
I used to think I was a 'short only trader' but later realized that it was the market condition that was rewarding my preferred trading style. Obviously I learnt my lesson during the next vicious bull run. Hence, I don't think 'long only trader' mindset is helpful in the long run. It may be helpful for Investors but we are 'Traders'. Oddly, 'We are Spartans' image came to my mind whilst I was typing and that's the anti-thesis of traders. Stubborn, strong and stupid to fight the massive odds to sacrifice themselves.
The key to our success is 'adaptability' to the CURRENT market condition.
Good luck with whatever instrument you choose. I don't think it matters much as long as you are familiar with her usual dance moves.
My index bias and index hopping is strong and white I have traded dow and es profitably I believe the indexes to be a hindrance in my growth as professional trader as I have "markets go up" bias this has ne hild losers longer and occasionally add to losers ... the logical step is to remove the bias and easiest way to do that is leave the indexes
No trades today just took the day to observe gold and see what a typical day of price action looks like... picked a great day to do it as it was a ramgebound doji day (based on daily chart) so plenty bull and bear set ups ... Day 1 of my gild journey starts tomorrow
Wepp I am going to listen to my trading statistics and not my gut and my stats say that I trade the ES the best by far so that is what I will be focusing on for the next 3 months.
Hence, I don't think 'long only trader' mindset is helpful in the long run. It may be helpful for Investors but we are 'Traders'. Oddly, 'We are Spartans' image came to my mind whilst I was typing and that's the anti-thesis of traders. Stubborn, strong and stupid to fight the 