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How is that working for you? What do you consider "a little"? I've tended to lock in break even too soon instead of trusting my stops and targets and have given up more than I've conserved by doing that, because often price suddenly runs and there's no time to get back in at a similar entry...

In alphabetical order: Thanks to Ammo for demonstrating every day on a public forum what it means to have a trader’s mindset. Thanks to Austin for planting a seed on Mother’s Day that I truly believe will grow into an orchard. A standing ovation to Bighog for trends, breakouts...

For you swingers, that break through 83.75 was very bullish (broke the 20-day EMA on the daily chart). For us day traders, it's up, it's down...OK, it's just up :D Happy Thanksgiving to all!

Geez, Picaso, trader porn again?? Ahh, to be on the right side of that...

Price does always pull back to the moving average, but it's a MOVING average. If you began fading the first overextended move too early, there was no chance to average into a winning position, and the moving average has moved to 1.35 from the initial spot it would've pulled back to (if it had...

Dejavu, I'm curious if your strategy is working out today, with the pullbacks being so shallow? ADD: The 20 EMA is now .90 from the RTM level of the initial push.

I was wondering about him too. He was swinging the Jan contract, so maybe still holding it? If so, he has Goldman's trading desk on his side, as they were predicting $100 oil.

Pretty sad when even the 1-min chart is unreadable to me :p

Mr. W, aren't you getting a bit old for this kind of thing? :p

N1, great trade. You had the correct read on the market at that point and you had a protective stop in place. Taking the heat on a trade can jolt us us out of equilibrium. When price came back to your entry, that was added proof that you read the market well (add to the winner next time). To...

LF, I'd be careful not to let a few down days or frustrating times where profits all turn to b/e cause you to change a style that works in the long run. Trading ES is about trading levels, trend, S/R, channels. There are much better instruments for scalping, IMHO.

If you have fixed ground rules to protect your capital, it's just one of many potentially profitable strategies. It's the ease with which people violate their rules with average-down strategies that makes it dangerous. Ammo averages all the time, but he has rules for entry, rules for exits and...

Breakout of S/R level is a safe ways to play CL with a small account that can't withstand averaging. You can scalp very fast gains even if it's nothing more than a stop run, and if it's a real breakout, you get more than expected. As an example, the 12:25pm ET bar took you from 81.51 to 81.73...

I'm happy that is working out for you, DV. My account is rather small, hence my conservative style. I'm up 51 ticks on 1 lot with no heat and my largest risk was $100. :cool:

Whoever bought that 500 cars @ 80.50 is taking a bit of heat here.

If your account's a decent size, leverage is an edge. Just be careful with that 100% sure thing. I just finished the story of LTCM, which also had a 100% sure thing, but didn't have sufficient time in the end. "We didn't lose the game; we just ran out of time." - Vince Lombardi

EON, is that a buy or sell signal? :eek:

No, it's just an informal Skype group on a mutual quest for the Holy Grail: http://www.youtube.com/watch?v=9V7zbWNznbs

All he needs is a little push. FD, I double dog dare you to trade 10 cars :D Hey, I'm looking at CL and what's with the crazy moves tonight? I need to start trading 24/7 :eek:

To be fair, I didn't actually buy NFLX. Every morning I call a stock trade of the day to my trading roomies and then pretend we all have a position in it. We only trade futures, but when a boring time of day comes around, I update everyone on our hypothetical stock position. This morning's call...