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Your main reference levels should remain in the 5-min time frame since that is your trading TF. There’s no real clarity until the range breakout at 11:00am on your chart. Until then you could just as easily be buying the near the bottom of the range (near the 9:30 low) as you could be...

After recently shaking another serving of trader's trail mix from my vintage 1986 IBM Model M, I am pleased to have discovered a device that ensures my baby keeps on clicking at least another 25 years:

Thanks for the compliment, OW. #1, yes I'm much better at that now, but it involves letting quite a few .20-.25-ers run back to even. #2, don't do that any more, but even after long strings of disciplined trading, I was guilty of that. There's some weird wiring in traders' brains that causes...

I draw my main lines in my 5-min trading TF. I also draw channels on the 1-min chart for range trading and positioning for breaks out of triangles/channels. I draw major TLs on a 60-min chart in case I catch a strong runner and want to know where the longer term players will look for bargains...

I'm not too keen on your TLs, would've adjusted them already, BUT, I would've shorted a break of the 10:45 bar low, targeting a break of each previous support level. The downtrend is still fully intact with resistance established at the down TL around the 50% retrace level, so I would trade...

Harry wants to trade futures. He made that clear at the start of the thread. I think mastering a single instrument is one of the best things a noob could do. I wish I'd started that way. I'm a price action trader, making my style of trading timeless. I trade what I see, not what I think. I'm...

Very well. It was a clean trend day. I just opened my platform to look at tonight's action. Regarding your first trade: Why would you short a confirmed demonstration of buying strength? Regarding your second trade: Why would you short when price is trending up? The easy money is made in...

Not trying to be flippant, but the fastest way to get crude oil news is to watch price. There's no way you can get the news, interpret it "properly" and react faster than the professionals who move price, which is why price tells you everything you need to know. If you position yourself with...

Can you post a chart or two with some examples of your trades, listing your initial stop and minimum profit target zone? I believe that when trading in the direction of a well-defined trend, you should leave your initial stop and target in place. If price comes very close to target, then...

Yes, 25-30 trades a day between 8:30 and 2:30 eastern time trading oil futures using a 5-min chart for trend/plan and a 1-min chart for range trading, entries, and “fly fishing” (positioning in consolidation until a breakout occurs). Also, unless there’s big airspace to a next S/R level, I...

1. Memorize these patterns until you can identify them immediately on a daily chart and recognize them forming in real-time on an intraday chart (5-min chart is a common day trading time frame for futures): http://www.daytradingcoach.com/daytrading-technicalanalysis-course.htm 2. For 2-3...

I trade live about 20-30 times a day off a 5-min time frame. It appears many are here to learn. There are many "ifs and if nots" because the outcome of EVERY trade is uncertain. Trend lines, channel lines and retracement levels are merely guides. Do I want to put on a trade when...

OK, so you need to better define your setups. I like to short off lower highs, but what if there's also a higher low (symmetrical triangle-in-progress)? I had the choice of filtering out trades under those conditions or put on the trade and be ready to exit quickly and reverse if that higher low...

Very interesting concept. I never thought of that when I was struggling mightily to trade all my setups throughout the day instead of picking and choosing and hesitating. I think you've pinpointed the core of the problem with the words "greater clarity". Do you have trade setups that are...

In the past I've been screwed by getting so focused on a smaller or larger time frame, I forget what my main time frame is telling me! I've learned to always be trading on the right side of my main time frame, focusing only on a smaller time for range trading and key entry signals. The key to...

I didn't trade ES today, so I scrolled my chart to the RTH open, drew a channel, checked the longer time frame for levels and decided there was a clean short setup. I do this with CL each morning before I start trading. Having a plan in advance makes the trade easier to manage, than simply...

If you ran series' of computerized backtests for a given strategy, your real-time trading results will most likely be VERY different. I don't know why this is, but it's held true for every strategy we backtested, then ran in simulation using live data during the trading day. It was only...

That's called a "down trend" :D :D I thought I'd be courteous and announce that I'm take a leave of absence from my desk. Ugly chart for bulls. Technically I'd predict a measured move down, but it's been sporting a strong bid in the upper 90's, so follow the price...

I'll count this as one study indicating that a 2-year weight loss program induces a reduction in two indicators of heart disease - carotid atherosclerosis and high blood pressure. Let's get some more going.

You're trading the absolute worst time of day for catching decent moves. I think it takes 3-6 weeks to change your sleep schedule, but it would be well worth it. I'm asleep by 11:00pm, up by 5:30am, make notes of all major and minor S/R levels draw channels and often begin trading in...