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I trade off live charts each day. As good as my trading results are, I can't quite yet afford that "Charts Ahead" service that lets you see them through the end of the day. Also, there is no stress any more in trading because once your edge has been tested through all sorts of market conditions...

At 1R, PA normally takes me to b/e. I've had some trades move beyond 1R, run all the way back to stop me out b/e by just a few ticks and start back my way again, but I've gotten very good at jumping right back in when that happens.

Hi Walter, I believe Kingjelly recently wrote my book: http://www.elitetrader.com/vb/showthread.php?s=&threadid=178741&perpage=10&pagenumber=1901 I really found Al Brooks and Mark Douglas to be the most useful books for me. I hadn't looked at Brooks book since reading most of it...

NFLX: 20% short interest. Whatever price does when they announce, just buy it. Even if you endure a 30% drawdown on the trade, it will be making new 52-week highs within a week :D :D :D

I doubt the institutional trading programs that seriously move price are designed to trip up retail day traders. HFT systems are designed to scalp fractions of moves ahead of each other, but the funds that buy and sell stocks/commodities are looking to buy and sell at the levels they believe are...

Trend lines are trend lines in your time frame. If you're trading off that 5-min chart, you're looking to capture profits from price swings in that time frame. So draw your trend lines across 5-min pivot levels. When these trend lines hold on pullbacks, they won't always be perfect to the...

Thank you! My initial replies were definitely tongue-in-cheek :p However, everything I wrote after the words "The way it will happen is that there will be more sellers than buyers, which will drive price lower until it reaches 108.50" was dead serious. Also (though it's not relevant to...

Agreed. As a day trader, anything goes throughout the day, follow the intraday trend. As a short term swing trader, anything goes, follow the immediate trend. As a longer term swing trader or investor, you should welcome any selloff/correction as a key opportunity to initiate or add...

Right out of that popular trading song entitled "Consistent Profitability". :)

Excellent edge! You'll generally collect the premium, and if you get really lucky two or three analysts might downgrade the stock, resulting in assignment at a bargain basement level, just in time for a run to new 52-week highs. Alternatively, you can wait for stocks in a long strong uptrend...

“The only thing that is as it seems is the chart. If you cannot figure out what it is telling you, do not trade. Wait for clarity. It will always come. But once it is there, you must place the trade and assume the risk and follow your plan.” - Al Brooks The discretionary day trader...

In my lifetime we've had black swan type events (crash of 1987, 9/11) as well as a serious longer term market crash (2008/2009) and even a mini black swan type event for a short period of time on May 6, 2010. If your trading strategies are based on "methodologies that are endemic to basic...

Well he did say "Monday onwards". And he didn't say "without going way up first". :p :p

I haven't viewed this yet but I love TED and will check it out later!

I don't think the time frame matters. Charts without the time frame displayed look the same, so wouldn't you be managing the stops/targets in the same fashion? Per trade, my max stop is .20, my average stop is .10, my minimum profit target is .20, my average is .30 and I've captured some...

I agree that one should either master swing trading or spend many weeks or months studying static charts in small intraday time frames and sim trading extensively before attempting live day trading, because of the speed of decision-making involved. It's like the difference between chess and...

In my expert opinion I sincerely believe that oil will hit 108.50 or below at some point from Monday onwards. However, it's possible that it could run well into the 120's or even higher before doing so. The way it will happen is that there will be more sellers than buyers, which will drive...

We do the same thing you swing traders do, but we do it quickly in real time. The daily price chart I use for swing trading stocks in my retirement accounts looks identical to the 5-min price chart I use for day trading futures. Both charts have red and green price bars indicating price movement...

I think Robert needs to connect with you immediately and whatever your price, he needs to get hold of your indicators. On an intraday level this week, SINA became fully overbought on Monday @ 124.00. It remained fully overbought all the way into the close @ 135.00. On Tuesday it opened fully...