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There's nothing wrong with taking profits at an initial target, as long as it's a target based on something, not just a random fixed target. For that matter, there's nothing wrong with taking a random fixed profit on every trade if you've tested well enough to know that it provides you enough of...

Tlow, if there's a reason to hold a trade for more than 20-30 ticks, then you hold it, even if it retraces all the way back to b/e or close to it. Many traders hold to a full stop out if the profit target isn't reached first. Today I took a long trade in CL at 9:44am ET @ 97.10 because there...

CL is well-known to retrace entire moves and more following a long strong intraday trending move. Trending days that close at highs or lows in the direction of the trend are pretty rare, from what I've seen.

Schiz, it's the symmetrical triangle thingy, it makes me nervous. I pick at it, scratch a few, then give up before the fantastic breakout :eek:

This reminds me of trading ES in the days after the flash crash. I remember thinking, "It's going to be easy to scalp 5 points out of this," and before I knew it my positions were up 15 points! You'll only need a scholarship if you FAIL my school :D

Hey I shorted there, too. B/E Then I shorted again. B/E Then I gave up. Down she goes... EDIT: Actually the second short was -1. Holy slippage, Batman!

Yes, they do!

Hold for more!

Price at the lower TL here (from the daily chart) - 1299.00

Holy cow, you got THAT right! I was positioning earlier this morning for a break through 98.24, which came close, but no cigar. So I took some shorts after that, but I had an appt coming up. I wanted to get in for a breakout of that the HOD and hopefull .24 then the last swing high. Then our...

I'm with you on this one. The trash talkin boys here give me a good laugh while I wait for my CL setups :D You guys who always diss ammo and others here for trading against the prevailing move and averaging down (but who actually protect their capital by taking hard losses) come across as...

There sure is: Trading them live! I do like the emg indicator a lot, but will have to take a look at this Williams %R.

Thanks for your kind words, but I rarely see setups immediately. At the hard right edge they looks much uglier than at the end of the day. That's why I scroll my chart off the screen end of day when I do an analysis. I don't want to know what happens next and I want to see what the setup looked...

Matcha, I believe two of your three trades are not problematic at all. Your first trade was a solid setup. Price in a range after hitting a new high, support established and confirmed. Standard pullback entry. Your main concern here is that the previous high could be construed as a failed...

I was in a trading room with Geez for a long time and he, too, did this, and it made my brain itch sometimes :p I, too, set targets and hold unless a reversal setup appears, but I place my stop to b/e after a certain move in my favor. This definitely reduces my profits over the long haul...

Question for Nexen: When price came so close to your tgt 1, pulled back to the HL, failed to revisit the high and broke down the range low, why not take profits early and reverse? I've noticed in general that a lot of traders working for bigger swings let the initial stop loss get taken out...

It was a close one, though. If I'd shorted when he first made his post, my entry price would've been closer to 1317.00 with the stop loss @ 1318.50. But I didn't trade until after NYMEX closed, and my stop was @ 1317.75 and I kept wondering if I should move my stop to where it would've been if I...

Silly goose, emg posted on ES Journal where he was looking to go long. You're supposed to SHORT and target somewhere near his long order pending that will be missed by 5 ticks today. :p

emg, you rock!