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Yes :)

Yes, I am. A while back I really wanted to trade AAPL, AMZN and POT, but was very gun shy, because they're quite volatile and they always have a spread to deal with. I finally went into sim and practiced trading them and built up my confidence, and then really hit the ground running with them...

And Schiz is our Profit? (Sorry, couldn't resist.)

Wow, we really DID go to trading school together!

Why even bother shorting AIG. Unlike most things, it seems to run up twice as fast as it falls. So when you notice it's been consolidating for a while in a narrow range on low volume, just put a buy stop above the high the range :D

When it failed to make a lower low (right around 10:30 or so), chances are it will make a higher high. Spd laid it out well: You have buyers jumping in just below previous support. This was a failed breakout and it's trapped a load of shorts who expected it to break down further. But the buyers...

+$404 Short AMZN (OB LH) and it really held its ground, then market sold off pretty good and AMZN just sat there, so I bailed near b/e, not wanting to stay short that kind of relative strength. Don’t let anyone tell you size doesn’t matter. Later POT set up very nicely with a 3rd LH...

It wasn't so much exiting b/e (there was a lot of buying strength at that point), but it was that spd said, "If the low @ 82.64 is taken out Id consider going short." and I had that same thought and then I watched price tick down and never pulled the trigger. It's like once price pulls a certain...

Even though it was just a sim trade (yeah, that short @ 82.77 with the really nice reversal signal that I was waiting for after the shallower breakout thru highs), there is something so very very sad about taking $9 of a $3920 move. :confused: :confused:

Tell you what guys, I'll call trades, you trade and manage them, and then just give me some of the profits.

I guess a lower high isn't so much counter-trend as I thought. Damn.

Out b/e

sh @ .77, stop to b/e since it's counter trend Reason for trade is pullback from lower high when price retraced the body of the previous 5-min bar

I haven't traded a single thing all morning. The CL breakouts are growing more shallow now. I'll watch for a reversal signal later on.

I sure hope BP's long after all his $85 hype :D

I considered it a down trend when price broke below the previous support level just below 21.00. I define am uptrend as higher highs and higher lows, and that breakdown through previous support violated the higher low part of the established uptrend, so now as a trader I'm looking to see if that...

That's what I thought. I've been there several times. It's like some other personality takes control of your body. I learned that the less I trade, the better I do, and so I now wait very patiently for setups that make sense. Was your initial loss a result of trading a mediocre setup...

Nothing in the "failed break" chart you post even resembles a breakout trade. First of all price is in a downtrend and secondly it never even breaks through previous resistance. What you'd be watching for here, if anything would be a new break through previous lows, or an eventual reversal...

Question #1: Why did you overtrade?

1. What is the most solid aspect of your system? 2. How exactly does the market work?