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If you think price has reached an extreme and you're about to put on a position there, but you decide not to, price will turn and retrace heavily; if you think about putting on a position there and you do it, price will immediately run to the extreme. :p

The trades he put on weren't wrong until proven wrong by what price is doing at key levels. If you're a RTM fader who averages down, you have to understand technical levels that are very likely to fuel a move further against you and implement serious risk management there. What's wrong is...

There's great money to be made fading overextended moves, but you need to wait for a price action signal and definitely close the position immediately at a breakout level. VRUS gapped up Tuesday after a strong uptrend had been underway for days. This can be a great exhaustion fade setup if...

I have to agree with VRUS being a shorting disaster, not only because of recent news (price target raised to $104 a couple days earlier), but the technical price action was pure long signal. Priced gapped up in pre-market from the previous day which closed near all-time highs, then price ran...

Good stuff, EON. I remember when I first defined in great detail my prime setups with rules for entry, stop and target. I'd completed months of daily analysis to come up with a system that had a strong edge in my favor and optimal risk management. Yet I still struggled to trade all the valid...

Oh no, you must've missed that big study that was just published: "Shorting silver, gold and oil was proven to cause a variety of symptoms including, but not limited to, heart palpitations, heartburn, nausea and vomiting, and total loss of bowel control :p Hey, they can't go up forever...

This is a very good idea. When I was prone to all the psychological problems that plague traders (hesitating, jumping the gun, revenge trading, micromanaging trades, getting losses back to even and cutting winners short, etc.), I made a decision to trade mainly for 2-3 hours around the open...

Hi Pauk, You had some nice trades going on yesterday, though your stops are out of my league. I would suggest if you put on a counter-trend trade, consider a stop and reverse the moment price pivots back in the direction of the trend. I think you had a trade long in a down trending move...

I just got back from a nice hike and this same thought crossed my mind. The easy money's been to the long side. Every short I've taken has been either minimal profit or a scratch.

I just checked out your posts. My thoughts, too, basically technical breakout. There was no reason for that Hummer to get out of the way of the Geo, Now if that Geo could procure a RPG or something... :p I notice that we trade much alike, by the way. Don't start front-running me :D

http://www.elitetrader.com/vb/showthread.php?threadid=218402

:D

You are a real piece of work. I posted helpful stuff on your thread a while back and you seemed to be a considerate person: http://www.elitetrader.com/vb/showthread.php?s=&threadid=216483&perpage=10&pagenumber=2 What happened? I spend time with a lot of newer traders sharing ideas and even...

EE is giving you the best indicator ever here. When you're thinking of buying a falling knife for a bounce, first decide where you'd place your absolute disaster stop. That is where price will pivot and stage a kickass bounce. The same strategy works for shorting a high flyer.

The thing to keep in mind is that anyone long at this point is either extremely profitable, pretty darn profitable, or (if a very late long) maybe holding a wee bit of heat. Consolidation at 52-week highs is a game of chicken with the trend-followers in a big ol' Hummer and the counter-trend...

Best advice ever. I read this kind of thing a lot during my frustrating, struggling, losing periods and never understood it. I thought you guys were either nuts, or that you didn't actually trade and simply enjoyed posting nebulous and useless information to keep the rest of us from making...

You're welcome, Ammo, and special thanks to you for demonstrating awesome trading professionalism every day on this site! Before trading I wore many hats in my business - bookkeeping, technical writing, software testing, training. I've always had a very good memory, but now that I'm getting...

If you provided me with your trades for one week (after the fact), I could tell you exactly what you were doing and why. :cool:

That initial rally was about me being long .61 off mid-.40's support right after the report and not locking in .20 when given the chance :mad: Good trading to all, I have an appt to prepare for and then likely won't be back until after the pit close.

Shut down and step away immediately. Your mind is no longer rational and you'll miss rational setups because valid setups take time to form and you're in a state of mind where you feel you must dig out of a hole now. If it was that easy to dig out of a hole AT WILL, we'd all be daily...