EARN THE RIGHT TO TRADE BIGGER.
Too many new traders think that because they have $25,000 equity in their trading account that they somehow have the
right to trade five or ten e-Mini S&P contracts. This cannot be further from the truth. If you cant trade a one lot successfully, what makes you think that you have the right to trade a 10 lot? I demand that my students show me a trading profit over the course of ten consecutive trading days trading a . one lot only. When they have achieved a profitable ten-day period, in my eyes, they have earned the right to trade a two lot for the next ten trading . sessions. Remember: if you are trading poorly with two lots you must lower your trade size down to a one lot.
(Updated on 29-05-2012 Time 8.33 AM)
Yesterday’s session saw steady but nice gain.
As we had written yesterday trading above 4931-4938
drove NF went up to 4988.
Short term trend likely to remain intact and move up to 5019-5034-5049
if trades above 5001-5009.
4970-4955 support area. Trading below 4955 with volumes for 15-20 minutes
will drag NF to 49022-4907 levels.