1. What broker(s) you are using? Pros and cons?
I use InteractiveBrokers and TradeStation now. Both are easy to do trading and very low commission. The problem is some company firewall blocks both software running. In this case, OptionXpress is better. I never used ThinkOrSwim. Other brokers have no or very limited way to trade future, so I do not even look at them.
2. How do you select the parameters of these indicators beside these defualt/commenly used? For ex. you mention EMA 9. What are the successful rate (round percentage) in your settings in general?
There is no definitive on the way to set MA, I use ema9, ema or sma 20, 50, 200 on daily, and you can see my early post on 5, 15 min system, uses different MA, and sometime I change those MA parameters to better fit mkt moves.
3. It ES play must be in a margin account? Or could be played in cash account as well? Which broker you use to play ES?
To trade ES, you need enable future trading from your broker. It depends whick broker you are using, the bottom line is different.
4. What is the best or better way for a new day trader to catch up? Would you share your own path to get where you are today? Mentor? Books (a short list for best books)? Obersevation of other HHs do? The webs/blogs help you most? etc...
First Study TA
Books? Yes, My first book is: Come to My Trading Room" By Dr. Elder, A must read. See the book list above from JL.
Mentor: Yes, A good mentor/teacher can help shorten the path. But you will have to do the work not your mentor/teacher.
Obersevation of other HHs do? Yes, But All I did is trying get the best out of those HH and use them for my own development.
The webs/blogs help you most? Yes, those helps, I still subscribe 2 services. I read their posts as part of information gathering for making my own decisions.
5. Your stop choice seem differrent from those commonly used. Very interesting. Would you share your thought behind your stops.
My stops are from chart, not from book, also from experience on certain type of stocks and ETFs.
6 How much you credit your success to your intuition and how much to your analytical skills. What are the other important attributes you think are important
95% of people are not gift from God to be a trader. So your TA and analytical skills are MUST have to be successful. As I discussed in today's class, Trying to think what you need to fit this mkt, rather than think what you can get from this mkt. Have a balanced attribute is important. Calm, consistant, fast-reaction/decision, are good personal behaviors, But this doesn't mean you can not be successful, But if emotion control is really a problem that over comes the highest discipline you can enforce, then Trading is not the thing for you, means you can not handle it. Go find something else that you can enjoy your life with it. |
狗仔卡
发表于 2009-4-10 05:19 PM
