Recent content by action

Andy are you done day trading?

I have not used more than two monitors for quite some time, however I am sure these guys will talk to you about your need if you were to start another thread. Take care there!

The 1st paragraph in my last post was a cut and copy from Old Trader...I need to learn how to post others comments in bold print like I see others doing.... sorry

You need to look at volatility instead. For example, on 5m charts the ATR(24) of ES is 2.07pts. I think 1x ATR as a stop-loss or profit target is reasonable for certain short-term trading methods. Volitility number is a real thing, not an indicator....gives you profit and loss potential...

I know it has been posted plenty on here but I have to say thanks guys. I checked in a while back on the Elite chat room and got a recommendation for dual screens to use a Matrox Millennium G550 (thanks Nitro!)..this is after more than a few dead end roads.... It was very cheap ($105) and was so...

Who was it that said "I don't mind taking a loss, it's being wrong that I hate"..Was it Jess Livermore?...I have taken that to mean..you have to trade with NO GUARENTEE of a result, you play the odds.... But if you break your rules (and we all should know when we are doing that)..then we are...

I believe it was Marc Ritchie in his excellent book "God in the Pits" Who speaks to part time or casual traders. He compares them to someone who wishes to practice medicine, or do some doctoring on the weekends in their spare time. They often think he is trying to keep the "insider" market for...

The greater the expectation traders have about something happening the less tolerance they have for dissapointment. When you are in a trade constantly ask yourself if anything "has to happen" Remember there is a big difference in perspective between "what is happening" and something the "has...

"Trade what you see, Not what you think"

that's a very good point AA.....you can have a rev. bar in an uptrend with a higher high and a higer low. This is something that pure chart reading (as opposed to too many indicators) will jump out at you. Any rev. bar is a good reason to tighten stops or at the very least get your attention. An...

By definition a singe bar does not define a trend. A reverse bar can signal a scalp trade yes. But your question has too many variables, as differnt issues show differnt tendancies, has it gapped open? is the rv. bar at a new local high or low?...sure a 1 hour rev. bar is more sinifigant that a...

Yes that is part of the "changed my trading life" ....staying in a position without "fear".....you cannot operate in fear. Let the thing grow or build as you go with it....The confidence is built in soon as I get that first chunk off...Take care there......Jack

the last hour of the day the stock was just screaming). I should have taken my profits there because my sell rule came into effect. one tactic that changed my trading life (there are many others) was to use the method of taking off a position in chunks. Generally I go in with a full lot...

I agree with Aiki that a chatroom can be a valuable thing. It is training live and while "on the Job"...what I found for myself was that after a time I became more or less distracted by the "calls" as I was working a trade "outside" the rooms calls. And in hindsight, this is how it should...