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Interesting trade....doesn't seem to fit your normal criteria as FAS was still declining. I'm assuming you were buying off the 1:48 bar but saw it a bit late? Worked out well for you regardless! By the way, what account size are you working with? It's about 70-80k right? 70k starting?

Geez, Thanks for the thorough response, that was very helpful. One other question came to mind when reading that. If you have a long bias on a stock and it opens weak and acts weak all morning, will you change and go short if you see a good setup? Or, do you just keep the long bias and...

Geez, Can you talk a little bit about how you think about the trades at the start of the day. Say you have your longs and your shorts in order and the market opens and does its thing for the first half hour. You're watching and looking for setups. What are you looking for in terms of an...

Great Day! Congrats.

yeah, I saw the logical target which is why I thought maybe you had that in mind. I didn't see much logic (I mean from a chart perspective :) ) to your stop number. So, you basically just used a flat 20 cent stop and 40 cent target with no real technical basis for the numbers even though the...

On this trade did you set the target and then calculate the stop based on that target? From the charts, that's what it looks like, which is the opposite of what you usually seem to do. Thanks.

Geez, In your particular case that could have happened, but in the theoretical post I made whereby one takes a volatility bet on both sides of the trade, it wouldn't really be possible. I figured with your trade, you had the one going and you leave your trades to play out. Then, the other...

I think he's just following his rules and both basically hit good setups within close proximity to each other. I don't think he viewed it as a revenge trade. The downside of a trade like this (not his trade but an overall strategy) is that a whipsaw can hurt you pretty good and mess up the...

You realize you are now on both sides of the financials right! :) I guess that's one way to get a 50% win rate (assuming it continues a trend one way or the other and doesn't get choppy).

Sure...here's the day trading journals that I enjoy reading: Geez: http://www.elitetrader.com/vb/showthread.php?s=&threadid=148752 Robert Weinstein: http://www.elitetrader.com/vb/showthread.php?s=&threadid=126492 Nodoji: http://www.elitetrader.com/vb/showthread.php?s=&threadid=132626

I have found a couple of nice journals from folks that mostly do day trading. I really enjoy reading these. Now, I'm looking for a couple of good equity swing trading journals. I don't want someone who just posts how much they make or lose. Rather, I'd like one from a successful trader who...

Hi Geez, Just started reading your journal and I like your style and strategy. Great job so far this year. Keep it up! I was wondering if you could talk about how you derive your watch lists in the morning and what causes you to deviate from it. For instance, today you have traded a few...

I don't see how this works or corresponds to your chart. Are you just using daily prices in this formula (i.e. day's high - day's open), etc? Could you elaborate further on how you calculated your chart? Thanks.

Igotbadbeat--where do you work that they just hand you some money and let you trade?

Nobody has any thoughts? Someone suggested O'Neils' (from IBD) book, but I think that's probably a little advanced for someone who doesn't even know what a stock is. I read it a while ago, but that's what I recall. Anyone else?

I know questions like this have been asked a hundred times...but I'm looking at it from a slightly different perspective. If you had to recommend one book to your nephew just to introduce him to the world of investing, knowing that he knows nothing at all, not even really what a stock is...