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Yeah I learned the hard way it's a fantastic scalp to do just the opposite :D

This is a bull flag here. Technically a breakout should carry through to at least 42 if it's more than just stops being run.

+1000

Not sure where mf gets that level, but 1294 would be a breach of the 20-day EMA after finding rapid support there yesterday. It's a technical level that could trigger sell programs.

I trade the 5-min chart with 1-min for cross-reference, max stop is .20 unless my entry is slipped, then it may be a few ticks more. My average stop is usually smaller, maybe 15 ticks or so.

This just in (for you long term swingers): MarketWatch (Dow Jones): The long-anticipated bullish "golden cross" has finally appeared for the S&P 500, with the 50-day moving average coming in today at 1257.80 and 200-day MA at 1257.19, according to FactSet data...significant further gains have...

Thanks. I wasn't trading quite that early, my longs from 98.80 were during the leg up from 10:20 ET through 11:00 ET. I did catch the short about a min before the open. The 8:50 ET bar on the 5-min chart wasn't at all a decent short setup for me, but the 1-min pattern inside the 5-min bars (from...

If you're in Brazil, the money is most likely real. Since we're discussing Brazilian currency, let's segue into the Brazilian language: Q. What kind of geese can't fly? A. Portuguese (I logged in here to PM someone, and ET again sucked out part of my brain...) :p

Movement is overrated :p :p I trade off 5-min bars, cross ref 1-min for trend reversal signals and with-trend continuations, cross ref 60-min for letting winners run in strong trends. I definitely like running with the herd, they throw money all over the place for us peons :D

Started going long @ 98.80, traded the move up in 4 segments, was stopped out b/e to the exact tick on segment 3, netted 62 ticks, would've been 82 w/o my b/e stop rule. Classic "Brooks" PA during that run up.

If you haven't already put together statistics for that (I had 3 months worth trading intraday, 5-min TF, before I started to trust my system), your trading plan is based on theory at this point and that's why you don't yet trust it. Once you have solid statistics, THEN you know that the...

:p :p :p

You recommended it, I'm buying it, no argument. Thanks, Steve :)

Out on the road today I saw a deadhead sticker on a Cadillac. A little voice inside my head said, "Don't look back, you can never look back." - Don Henley, Boys of Summer For me, listening to music while trading is too distracting. Fires up the right-brain neurons, I guess, and I need...

Hog, it's not "smart", it's OCD. "Short order", ha! Try 10 hours a day. And I dare not challenge you trading ES. You called a trade setup for me once and all I could think was, "This will never work, what's he thinking?" and I put on the trade so I could whine at you when it didn't work and of...

I'm not saying that paying for trading education is bad in and of itself. As a total beginner, I paid for two subscription services and both were excellent, but I had this notion that all trades should be winners even if it meant stretching the extremes of risk management and my hair-brained...

Nice DOM commentary, MF. Every time I chat with a CL trader who's screwing up perfectly good trades, I tell them: "Don't watch the DOM while you're in a position!" How do I know a trader's watching the DOM while in a trade? They suddenly say something like, "Uh oh, now it looks weak..." :p...

Damn, the Holy Grail right here on ET! What a recipe for financial success in trading! Of course he'd have a big following of struggling newbies. How much better can it possibly get for a struggling newbie???!!! Here's a guy who demonstrates a way to trade without having to worry...

Jokepie, thank you for some fantastic information you provided last year in various posts. Above you've identified a key puzzle to be solved in developing a consistently profitable price action trading plan. Since indicators lag and price action happens here and now at the hard right edge of...

Until recently, I mainly traded Matchbox cars. Started small, just one car, but worked my way up to 10 before the bots caught on and I lost my edge. I've been sim trading marbles and was ready to go live on Monday, but I appear to have lost them all after reading this thread. :p