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No live trades for me, internet issues again today, we have a bad switch :( I did one CL sim trade (didn't post here because was dealing with internet issues) and really botched up my plan. SH @ 80.39 (9:51:59 a.m. EST), took half @ 80.28 (9:54:36 a.m.) and placed a target LMT order @...

Actually there are some very good counter-trend traders here (ammo, AMT and lescor, to name a few) and I've followed AMT and ammo in action and learned about what they do. THEY'RE good!

Very well put. All it takes to move price one tick above a level where stops are triggered is you or me hitting the Ask at that price with a single lot. If big money comes in to drive the price, you can bet it won't be a false breakout.

There are price zones where a majority of stops are placed, usually just outside a previous support or resistance level or just outside a previous bar's high or low. When price approaches the support or resistance level, or previous bar's high or low, you have traders whose positions will...

If you're a counter-trend trader with a short bias against a rising market, you watch for conditions to become overbought, price to pull significantly far from the rising 20-bar moving average and then watch how price reacts to previous resistance. The market's been overbought for a while now...

The airlines have already reported their weather-based loss estimates, so that should be priced in.

I like the idea, too, and I watch the airlines frequently for a sign of a reversal to swing trade, because percentage-wise they really move! But I think with all the airline good news, and price targets just now starting to be raised (UAUA was just raised to $30 from $24 by UBS), and the...

OMG! I had no idea! Have I ever mentioned that I enjoy writing? :p

So my advice is to pick one stock or futures market to trade and trade it with small size or in a simulated account until you are confident in your edge, and your ability to honor your trading plan without fail. Picking just one means you will definitely learn patience and focus, and most...

Lack of patience is an account-killer. It leads you to try and make something happen that's just not ready to happen. You'll get into trades too soon, use stops that are too wide, then get nervous and exit too soon leaving profits on the table, and end up generally losing money. You say you...

Kudos for planning each day, analyzing your trades, and recognizing mistakes so early. I was clueless for well over a year, and then finally picked up a few clues not too long ago. Expect the best, not the worst. Don't hope for the best; EXPECT the best. If you want to succeed as a trader...

If you're averaging $500-$1000 a day for a few weeks, what (outside of a trading halt on your stock or a black swan event) would cause a $500-$1000/day trader to lose $5000 in a single day? I mean I've posted some very large losses as a noob trader, but never on a day trade, only on swing...

I had several live ES trades, a few very nice ones. But overall I was cutting all my winners near break even only to see them later move nicely my way. I simply couldn't get comfortable with ES's personality. I trade it almost every day in my sim account, however... ...someone on ET was...

I will confirm this has been my personal experience. I'm an amateur who flailed about for quite a while trading this stock and that stock, mostly counter-trend trading. Sometimes I'd find that trading a certain stock again and again, I got to "know" it and could almost extract money from it at...

Holy guacamole! You can request a trade bust? And might even get it? This is like the "morning after" pill for traders! :D :D

So true. And if you do what makes sense at the time, that's what's important. But if what you do doesn't make sense, then it's OK to bang head on wall. Today I was sim trading CL and I closed my position at a previous support level. All I saw at the moment was the previous support (that had...

How'd that AAPL short work out for you?

Let me save you from this lesson getting more expensive (as it did for me many times): If you hesitate to put on a trade when you see the setup, be careful about chasing more than a wee bit. Much better to wait for the next setup. This is where having a buy or sell stop order in place in...

You can't get 100% of every move in a trade. Once the move's over we all look back and think wow, I left so much on the table, blah blah blah. But if you're targeting profits based on technical price points and how price reacts there, leaving money on the table isn't a problem. You want to catch...

+$652 Day +$3086 Week Just one live trade today, one of the most technically perfect trades I’ve ever done. Short AMZN @ 133.17, on the breakdown through the low of the 9:57am 3-min bar after putting in a lower high. Held until full stochastics were fully oversold and covered @ 131.53 when...