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I'd prefer to trade a basic call or put play off an extreme. Holy crap, I covered my short way too soon here! Edit: Why is it when I patiently try to let a winner run, it comes all the way back to stop me out b/e and when I take profits on the first pivot, expecting a decent re-entry on the...

Your market prep and opening observations included two useful price action concepts: "Market overnight made more than 4 pushes up" and "Market only went up for 15 min after opening, and then started to sell off". Everything else you stated is either irrelevant (news), or bias on your part...

The market always eventually goes in the direction you thought, but unfortunately these darned brokers have limits on the margin available to you. A stop is placed at the station where you want to exit immediately because you realize you got on the wrong train. No worries if this happens...

I truly know every 20th trader. (Uh oh, the mean people are getting to me again...) :D

A perfectly balanced coin is tossed by a perfectly calibrated machine 50 times in a row and comes up heads. What is the probability that this coin will come up heads on the 51st toss? In the hypothetical situation outlined (in which this is a test question and so must be taken at face...

Yes, closes at 2:25pm. Some fine signals today on both CL and ES. Tomorrow should be good too with all the news hitting the wire early on. "You can call me Al..." - You Can Call Me Al, Paul Simon OK enough damn song quotes...

That is a good idea! I'll look into options for swings. Nothing to hang your hat on right now based on the daily chart, though. If anything looks potentially bullish.

But, Picaso, I trade his method all the time :p One of the best things I got out of Al's book is traps. These are especially common in the afternoon, but can also happen close to test of major highs/lows. Price bar sets up to look like a juicy short or long, then goes the other way. I just...

MrBochin, since you were responsible for a contango comment on this thread when I first starting trading CL that resulted in two back to back awesome trades for me, I will share my (and Al Brooks') with-trend trade secrets: In a trend, look to enter wither when price pulls back to a 20-bar MA...

Oh, come on, whiner! "Maybe get a blister on your little finger, maybe get a blister on your thumb." - Money for Nothing, Dire Straits (After some deep psychoanalysis I realized why I didn't trade the first long/breakout. I had a short entry bias from the huge selloff in pre-market...

I have no idea why I didn't play the early breakout, or for that matter the initial long signal off the close of 9:10 bar (even better). There was simply no reason not to trade at that time. I think it was too many headers at my soccer match last night, killed some brain cells. So I saw the...

OK, maybe in a day after all...

Tell me about it! I thought I was the bees knees for capturing 78.67 to 78.35 and then it basically fell out of bed without me. EON, you could've charged admission to your entry on the long leading into he breakout!

Sadly, did not catch that one, but caught the one just a few mins ago, took 23 ticks

I don't think it will fall back to 1080-1085 in a day, but it's the logical target for a pullback in the trend.

Sure, 5-min chart: price bounced hard off the the 3:50am pivot low and had been channeling, then broke out to retest the pivot high of 77.45. The break out of the range was weak and the final bar breakout bar through the high was a failed breakout (7:30am). Failed, in that it broke 5 ticks and...

Wondering that myself. Looks like I awoke about half hour too late; it left a perfect counter-trend short signal off the 7:30 ET bar.

Yep, that was the story.

Trading in the Zone is an incredible book. I'm due for the third reading. I think third time's the charm. Learning price action trading and exceptional risk management made me profitable despite a total inability to adhere to the concepts covered in Douglas' book. My next level is mastering...

No THAT was pure idiocy IMHO. There was NO fundamental reason for X to trade above $45. What I really loved is how Goldman raised them to a conviction buy after price had made a huge run up, then it sold off hard on some bad news and Goldman lowered them to buy from conviction buy :confused: