D's ER2 Trades 7/30

D, as usual, got his more than 1-point gain - all in an hour's work! *&*&*$(&#!

D has clearly found his way. His success rate is 6 out of 7 on average.

Here's something worth mentioning about D: he hasn't a big risk appetite, and won't take a loss of more than 1 point.

Because of that, he accepts that he will have to go for smaller wins each time.

D makes it a point to get out of a trade after getting 4 ticks. And whenever he breaks that rule, he'll find the trade turning against him.

As shown in my earlier post, D looks at just one chart. He has his focus on how price moves, and enters near the top of the candle if he's going short, and near the bottom when he's going long.

D's system is extremely simple - he looks at support and resistance, and gets news update from me.

D's triggers for entering and exiting his trades are different each time (typical of right-brainers??) - but they would be one of or a combination of these: news, DOW's movement, ER2's movement.

So far, D's method has worked very well for him. He keeps his target at 1 to 2 points. And he usually achieves it before 1pm EST. This is very likely the reason that he's consistently been able to keep his profit - he knows when to stop, and that's when he's physically and mentally too drained to carry on. And that's around midnight.

D works full time in a highly aggressive environment, and hence getting enough sleep is important to him. That's why he doesn't trade the after-lunch session.

This is typical of what I see on his TWS whenever he calls it a day:



And these are his trades for today:



I have always known that there's really no right or wrong way to trade. The only thing that's certain as far as trading is concerned (besides the opening and closing price) is that there's no holy grail. That much I knew.

But knowing is different from appreciating. Today, I'm beginning to appreciate and respect the difference between the way that D and I trade.

For once, I'm not going to insist that I'm right and that D's clueless. Coz he's apparently come up with a system that works extremely well for him and he stuck to it despite my frequent teasing.

D's SO COOL!!!

:-D