Recent content by NoDoji

This is the Key to the Kingdom :)

On Suntrader's 5-min chart, price moved down from ~ 4591 to 4563 (28 pts), so I subtracted 28 pts from the pullback swing high around 11:25 and got 4547.

Previous day's levels are whatever you choose to use; I don't trade those levels so I don't know which gets the most attention, overnight levels or previous day's RTH levels. The point of my post to k p was that there are price levels that served as confirmation of a move in the past and if...

I work in the energy field :cool:

Th far more important question is "Was I short at 4569 and targeting a measured move around 4547 or better?"

And you want to very careful not to take financial advice from a Leo with the moon in Uranus because he's a lion ass :D

Thanks a lot! Now the edge inherent in trading by the Moon will be diluted to the point it's no longer a valid method. Now I have to go back to my old method which requires a lot more effort. http://www.ask8ball.net/

It's very easy and comfortable to take action when we believe in something, even if there's no statistical evidence backing what we believe in. I've seen so many traders with statistically sound methods waste time "reworking" their methods in the hopes they'll find some comfortable high...

k p, plenty of algos utilize "key" levels unrelated to trend lines, horizontal support/resistance (previous swing highs/lows or range extremes) and previous day's close, high or low. You may think price stopped and found a lot of buyers or sellers at a totally random level, when in fact it's a...

Yes, by Al Gore :D

And there's the risk element. If you made $2000 profit to my $1000 profit by trading 15 contracts while I traded 2 contracts in a simulated environment, the overall risk to the account will be greater for you in a live trading environment, not to mention the difficulty flying "under the radar"...

"We didn't lose the game; we just ran out of time." Vince Lombardi

Not at all. If you're working on an assembly line, you start your shift and you know you absolutely have to do your part over and over again or you'll be fired from your job, probably after a couple/three warnings. If traders were fired after violating their trading plans more than three...

Use bracket orders for your stop loss and profit target and set a sound alert for when one of them fills. Place the entry order and walk away until you hear your alert. You don't have to make anything back. You now have a mechanical system that produces profits if you follow it. Focus solely...

Without a thorough understanding of, and total acceptance of, this concept, a trader is doomed to either failure or an eternal quest for a Holy Grail.