As I grow and develop my trading prowess, naturally so does my blog. It is my intention to enhance the benefits of this journal so that I and others can find some meaning, organization and answers to questions that will help map our course during the trading journey. Thus, the creation of "The Weekend Shmooze".
Shmooze (also spelled shoomz) is Yiddish and defined as "to hang out with; to chat; engage in casual talk". So I find the title to this new component of the journal to be apropos in reference to what I want to accomplish...sharing odds & ends of information.
On occasion I'll add some references to this forum via posts which will supplement the many great resources I have listed near the end of this page.
I recently found some great posts within a couple of my favorite blogs that I regularly visit and wanted to share in my forum. The referenced trading blogs are ES specific and the posts I'm sharing were written by "guest" authors.
The first guest blog entry is found in the "
Don Miller Trading Journal". This was written by one of his "Jellies" who, if I didn't know better could have been writing by a member within E-Nation (Emini Wizard System). I recognized many common experiences and associations this guest author describes regarding his learning experience.
The second guest post was found in "
E-mini Player: Emini S&P 500 Futures Trading Journal". Previous comments I've read by author Ziad, found him to be a very astute trader who shares much wisdom and practical trading advise. In addition, I've seen "E-mini Player" and his blog develop and evolve into a worthy resource for serious ES traders to visit and add to their arsenal of learning.
The aforementioned posts will be a nice introduction to these informative blogs. I would suggest you consider adding these two blogs to your regular reading routine and believe you will definitely find many gold nuggets of useful information within these journals if you decide to visit them regularly.
Trade Well !
Posts
This commentary was first posted in the Eminiwizard member site.
Here’s a good article with good advice and one that ‘E’ (The Eminiwizard), as well as a few other E-Nation members subscribe to.
http://www.tradingmarkets.com/.site/stocks/commentary/editorial/How-To-Succeed-at-Trading-81039.cfm
When I first started trading, I was like a kid in a candy shop. I was trying to find my way and wasn’t sure what instrument I wanted to trade let alone what was best for me and my personality. I had no one to help guide me.
As I searched for my trading personality and the right trading instrument fit, I culled my many trading books, trading blogs and webinars, I kept hearing/reading a common message; “learn one thing and get good at it”, and then, maybe add another instrument later.
My initial attraction was towards stocks (too slow, good for my IRA). Then I tried options (better gratification, loved the idea of
‘the Greeks” but something was missing). Next was selling spreads (I liked it, made sense and still trade them on occasion but there was still some void). Finally, I discovered the E-Mini’s and it “clicked” with me (fast, analytical, multiple set-ups/strategies, methodology driven, quick money potential). This was the instrument that I wanted to concentrate on.
So, after about 1 1/2 -2 years of trading stocks, options/spreads AND futures, I have for all intense and purposes only been trading the ES for about the past 24 months.
This trading biz is the toughest thing I’ve ever tried to learn. It’s hard enough to learn how to trade, let alone how to trade multiple instruments. Some people can do it, I cannot. I need to concentrate on one thing and get good at it and that is what I am doing with the ES. Progress is being made as consistency in making, not losing money is being achieved…finally!
Passion, persistence, discipline, focus and patience. These are key elements of becoming an effective and successful trader. And it certainly helps to attain competence when one has a good mentor(s). E-Nation is a good place to be.
Trading is a journey, not a destination. Unless we continue to learn and grow in this biz, we will never realize the full potential to master the market, or at least understand it enough to make a decent living, stay out of trouble and avoid “working at Walmart”.
Trade Well !