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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Compadre who wrote (26446)	6/28/1999 6:39:00 PM
From: SE	Read Replies (4) of 44573

Perhaps you are correct. Scalping minis is tough due to the commission being about half a point and the spread being .25 to .50 of a point. However, that is what Nemer does, scalps. It is clear so far that we represent the fact that 90% of future traders lose money. I wonder what the percentage of stock daytraders lose money? Could be an interesting stat. Tough game.....if you make one mistake, you generally compound it with a second and third. By the time you realize what you have done you have quite likely given up a day's or week's worth of profits. It is very unforgiving. Mistakes are simply not tolerated. A mistake is not the same as a losing trade by the way. It is very possible to have a batting average below 50% and make money. However, I would venture to guess that if you make mistakes (any trading decision from buy, to sell, to where to place the stop or the limit for exit) you had better achieve better than 90% non-mistakes to 10% mistakes I would guess. As I said, one mistake generally leads to a second and third and so on. Then you are cooked. Perhaps Patrick and chime in here with his opinion. Mine is derived only from observing my own trading and what "a mistake" will do to me and my account. We shall see how this all comes out in the end. Two days ago I was well ahead in the contest and today, I am in last place. Fortunes can change in a hurry. However, even if I get back on top, this up and down in the account is not a good sign at all and not the preferable way to trade. There still is work to be done. Slow and steady wins the race....right Nemer? Sheesh..... Tomorrow a new day dawns. -Scott

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