BOOMERANG6 Emini Day Trading System is a Great System for Beginners why so?
Well if trades correctly BOOMERAN6 correctly, after study and practice… most days have had very little losing trades and the winning ones usually have good momentum burst follow through.
So there has been very little draw down from our own system results. This also means that there is a tendency to quickly recover from a losing trade. Plus there is a tendency to not have these extended losing streaks. And that is very good for beginner emini day traders. That said…
So as a beginner you don’t want extended losing streaks because you’re going to have your own mistakes especially if you don’t practice a lot by pretend trading and day trading. Although price action behavior cycles, the way and speed that price moves around from day to day, even hour to hour, 1/2 day to 1/2 day will vary. You have to get used to that. You have to be willing to “prove yourself on the small profits in order to get the big profits”. In this case, I mean that you can’t only want the big gains since they are exciting. You have to take all the trades, correctly, and let the system SMASH out a NET PROFIT.
On that note, chasing excitement in trading is foolish and will lead to a BIG WHUPPIN’ by “Mr. Market” (Buffet). So yes, the road to becoming a good trader will also help correct a lot of bad foolish habits, bad beliefs and mindsets. I mean, it doesn’t seem bad to go after what is exciting does it? But in this “realm”, in this “Matrix” – it’s punished and usually leads to trouble. Although, one can have a certain amount of excitement in life just as long as it fits within established “universal parameters”.
It’s a good idea to have a small account to start. Start small and grow the small. Don’t put in larger amounts of money unless you’ve proven yourself.
No you DO have to prove yourself consistently profitable, I would say for at least 2 weeks. But by then, you wouldn’t need to put any extra money into your accounts since the account would be steadily growing. Don’t “think you can” be profitable and dive into the markets: you’ll probably spaz out and lose. Practice! Eminis are competitive so if you’re going to watch every tick, every juke and jive, you’ll get stressed out.
As a beginner you need to be able recuperate really quickly after any sort of losses. This is important for you account value of course but also your confidence. You can see the progression of trades for BOOMERANG6 below.
ES 1M BARS Start 9:30
5+.5+2.75+2+5-3.5+3.5-2+1.5-1.25+1.5+3 =+18 stop at noon. = $900 minus commissions on 1 emini contract.
ES July 16 2023
-1.25-.5+.25+1.25+.25+4.5+.75+2.75-1.25+.5+1+.25-1.5+1+1.25+.5=+9.75 till noon. = $487.5 minus commissions on 1 emini contract.
RTY July 16 2023
.7+.3+1.8+1.8+.5+7.8-.5+3+1.1+1.6+.6+.8 = +19.5 till noon = $950 minus commissions on 1 emini contract.
+.7+3.9+2+.3+.7+7.8-2.6+2.1+1.1+1.6+.6+.8 = +19 till noon = $900 minus commissions on 1 emini contract.