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My worst days came from overtrading. As difficult as it is to do, erase each prior trade and wait patiently for the next real setup. It's so tempting to jump on anything that moves to "get back" either what you lost or even worse, what you missed. I've frequently looked at a move I missed and...

Yes, losses suck (I was down almost as much as you this morning because I was trading off a 1-min chart, thinking it was a 3-min chart), but you need to review the trades and document the mistakes. Were you fighting an established trend, did you trade before a trend was established, did you jump...

And those last 3 bars on your chart provide graphic illustration of why I have an overall short bias in my trading. :D

+ $254 Started the day down $200+ by forgetting to change my 1-min charts to 3-min after the opening range was established. I kept taking trades and the setups would fail and stop me out. I finally realized I was using 1-min charts and taking "phantom setups".

IncNow, trade when you have a real setup, not when all these blokes say "Come on, trade!" I traded a bunch of phantom setups this morning and it cost me over $200. Patience, patience..

I'd run it right on up :D

I'm a technical trader doing my best to ignore the news and ONLY pay attention to how price reacts to the news. A lot of bad news was set on the table last week and the market held up very nicely. Technically, ES on the daily chart tested and broke thru the upper Keltner channel line several...

IncNow, read this a few times! And then tomorrow take no more than 2 trades. Trade only the best setups, and use a profit target:stop loss ratio of at least 2:1.

IncNow, something of great concern is that you haven't yet answered brocklanders' question. Did you place a hard stop? Mental stop? At what price? It's these itty bitty details that will eventually wipe you out if you don't solidify them from the start.

Seems to me you're simply describing the difference between a trend and a range/slightly trending range. Both are very tradeable. In a trend, you buy pullbacks that find a resurgence of buyers or sellers above or below previous S/R level (this usually occurs at or near the 20-bar moving...

Here is an example of how someone can easily blow up day trading: You notice that MIL has had a long steady climb over the months, yet has run against resistance in the 70's again and again. On 1/13 it made a higher high, then started a series of lower highs and lower lows, and actually...

Joe, I've had difficulty getting prayer to work. I'm thinking maybe I've been saying the wrong prayer. The prayer I've been saying is: "Please, God, please just get me back to break even on this trade and I promise I'll NEVER trade without a stop again."

Stops are placed at price zones where "obvious" trades become invalidated. Often, in a strong trend especially, you'll see little headfakes that appear to set up a reversal, only to use the trapped counter-trend traders' stops as fuel to continue the move. Honor your stops when this happens, and...

This reminds me of a multi-level marketing presentation a friend showed me not long ago where, if I extrapolated just a few more iterations based on their logic, you (yes, you!) in a WORST-CASE scenario would have more than the entire population of the U.S. signed up. However, being a...

Seems like a great week to me, up 4.4%, especially with the narrow trading range we're in!

A tip on airline stocks in this long-term uptrend: When a higher support level is established and they lift off to the upside the next morning, they tend to rise to a cruising altitude of about 35,000 feet. :p

Yes, I remember that well. That's when I stopped mirroring your trades :D :D (just kidding folks, I'm way too stubborn to mirror anyone's trades even if they are making money hand over fist) This is a confirmed trading edge. It's not yet included with most popular charting programs, but I'm...

Awesome strategy, and I use it a lot. That break out of the opening 5 mins tends give a decent push. My profits have been much like yours on 100-400 shares, with an occasional home run when you catch the start of a strong trend. I'm doing all this manually, because my current charts are not...

xxxskier has posted blotters and actual time & sales so we can see how s/he scales out of positions.

And of those 100% of new traders who think they'll be successful, 1-2% are! And if Rolando follows Kedwards advice, he will be among those success stories!