Patience

Today because I was doing a number of different things and not feeling so good -- having a lot of headaches lately, that I didn't get to begin trading at 6-6:30 am as I normally do. Went to bed way too late last night, helping my daughter study for a test, but just should've gotten all this stuff done earlier. All avoidable.

Today on one contract having just stayed in, one could've taken at least 28 points off the table from the beginning of the day to near the end. That's on the ES (S&P emini's). This is trading off the 15 min. chart. On a smaller timeframe, like the 3 min., about triple the points can be made. On a 1 min. timeframe, probably 100 points could've been gotten at least, and that's not getting in every single time.

However, for most of us, 100 points on the ES is not necessary to live on with 1 contract. For many of us, getting 4-10 points on the ES daily is more than sufficient on 1 contract to earn a living. If you wanted to do 3 contracts at 4 points total for the day, that's $600. If you worked 9 months of the year (40 weeks, 5 days a week), that's $120K/yr. Imagine, that's 12 weeks of vacation at a $120K/yr salary, working around 1/2-1 hr a day those 200 work days. Not bad, don't you think?
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