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I've no idea why 103.50 would be considered significant, but for me, I had 103.40 noted as significant because once the low (104.10) of Tuesday's 12:00pm ET 60-min bar broke, the next 60-min bar low in line was Tuesday's 10:00am ET bar low of 103.40. My guess as to why support was established...

I use the 5-min chart, but I reference the 60-min and daily charts to see if there's some indication of whether a trending move or trending day might be in order. Also, I will trade counter-trend off a valid signal (twin tops/bottoms or LH's/HL's) For example, yesterday in pre-market I saw...

Pit closes at 2:30pm eastern time. Regarding profit targets, it depends on the environment. If I'm trading a good trending move, I like to target a 20-tick or better break of previous support or resistance. For example, a long today @ 103.81 during the 10:10am ET 5-min bar would target a...

If you post your trade after the fact, just attach a screen shot of your trade with the time stamp. I mean, heck, I came in just before dinner, looked at the chart and shorted @ 103.86. :p

And this call is based on: Technical Analysis? Fundamental Analysis? Inside Information? :p Do you mean price over $3, or a move over $3? If price over $3, then it's not so crazy :)

A lot of people besides you find them useful, otherwise they wouldn't be growing earnings and beating estimates over and over again. Consistent earnings growth + earnings beats + high short interest from hedgies who think the price is "too high" = STRONG TREND UP

Too funny! When I posted I almost included that Lucy video :p :p

Trading for me is like standing at a conveyor belt on which apples pass by and my job is to pick every apple that fits a set of visual criteria designed to segregate apples that are very likely to be labeled Grade A Extra Fancy. During my training for this job I had to look at many Grade A...

So the theory holds for today. Theoretically, you're up 2% on the position. If you're unfamiliar with gap plays, here is some good reading: http://stockcharts.com/help/doku.php?id=chart_school:trading_strategies:gap_trading_strategi

I'd like to add a little to my previous post. What's important isn't the R:R ratio by itself, but in relation to the statistical edge of your setups. My setups have a win rate of about 70%, so a R:R of 1:1 produces a solid result, especially since I allow trades to run when key breakout...

I use a max stop loss (except when I completely lose my mind, which tends to happen on Fridays), and a minimum target 1:1. Lately I've been taking a lot of hard targets because my trading instrument has been rangy and choppy, but if there's a key level in play such as a previous high/low in a...

Yes, I want to know where to buy the stop order information, too! In futures, how do the Evil Stop Gunners know if stop orders are in place to initiate a new position or offset an existing position? Is that a premium service available for an additional fee or is that information contained in...

The 1-min chart can be a wonderful thing as long as you don't start confusing it with your long-term (5-min) goals :p After the news settled in, I was using the DOM and 1-min chart to position myself for a breakout. It looked ripe and I jumped in, scratch, jumped in again, scratch, jumped in...

Oh man, we should auto-tune Ben Lichtenstein's narration of 5/6/2010, the way they do auto-tune the news: http://www.youtube.com/watch?v=tBb4cjjj1gI I would have to say anyone short crude is on very thin ice... :D

I think if you're a nervous trader who can't stand to sit through price wiggles and normal retracements, and likes to snare quick small profits, then volatile instruments like energy futures, currency futures, and high priced momentum stocks (AAPL, AMZN, NFLX, FSLR, PCLN, etc) will give you more...

Agreed. IMHO $50K provides the psychological "buffer" that prevents you from screwing with your trading plan. The size I trade requires less than $10K to make a decent living, but the additional capital makes it easier, psychologically.

You seem to have a decent edge, you're just trading opposite what you should be trading. I was a pure counter-trend RTM trader for the longest time, and I took heat on almost all my trades before they became profitable. I used stochastics to signal my entries, and I remember reading a trading...

LMAO! I lowered my IQ by banging my head against my desk and getting my face slammed into the sidewalk so many times. Now that my IQ has been lowered to absolute average, my trading is really taking off :D

You got that right! The more I dumb down my trading, the easier it gets and the more money I make. All the unnecessary stuff and micromanaging makes you feel better inside, but it doesn't necessarily help your P/L. Shortly after I found a trading style that produced consistent profits (for 4...

The volume is super low, so I'm sure the short term retail traders are the ones getting shaken out of longs, not the big players. However, during RTH the later moves down today were on much heavier volume than the moves up, except for the close.