http://KnightCapitalManagement.com This trade went down 10 ticks to initial target, then on down to support line in front of the consumer confidence report. Then the market marched its way right back to the resistance line today.
Are the bonds back in favor? Perhaps ... time will tell, but this market seems to be showing some signs of life recently.
So what is the March to $2 Million? This is my attempt to show a full trading strategy and grow my account in the process. I will talk more about it on tomorrow's blog post, but I want to introduce this concept today to you.
We are taking a $3,000 account and utilizing our conservative rules, while still remaining aggressive on the markets that we can trade. Our goal is to eventually get to trading not only multiple markets, but multiple contracts.
During this week, I have watched several new and existing members leave the trading room, because they do not understand the approach of how I can trade multiple markets.
For example, one individual went on to say that he only trades the eMini S&P or the ES market, such a shame to place yourself in the all eggs in one basket kind of trading that presents itself.
Why does a one market person search for others to help them trade? Here is my 2 cents on the subject, because it doesn't work. Why? Because they fall into the trap of taking on unnecessary trading risk by overthinking the entry and not taking A+ setups!
It is amazing to me that people pay $9.70 for 14 days, and cancel after the 1st day in the trading room. How can you judge a trading method in that time frame? Seriously, 14 days isn't enough either, but people are so impatient hunting for the HOLY GRAIL, that they can't see it because of the PLANK in their own EYE.
This goes back to the question of why do most traders fail? The answer is really a simple one, because most of them jump from one method to the next never giving enough time and research to determine if it really works or not.
Just because you don't understand something doesn't mean that it doesn't work. Perhaps, spending more time in research and less time in searching for the Holy Grail is the true answer to trading success.
I have built my account on utilizing multiple markets in my trading. I invite you to join me to understand how to do this as well, but if you are one of those tire kickers, then perhaps you should spend your money on something you enjoy doing besides trading. This way you at least have something to show for your time!
Good Trading,
David "Tiger" Knight
http://KnightCapitalManagement.com
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