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I think this is a great idea! My last post was silly, but seriously, this is a very good idea and is, in and of itself, a sort of "religion".

The title of this thread leapt out at me and I'm now filled with raw fear. Our ATS in its latest beta iteration had 5 profitable days last week in sim. This means live launch this week. What if it turns out to be twice the trader I am and I'm doomed to sit around all day having thought loops...

My dear long-time ET friends: Should I start doing this now? I love to write, I love to teach, I love to read... Reading is for people who are too lazy to trade. :D :p :D

The market rewards what is difficult. I think three of the most difficult things for new traders to master are trading with a trend, honoring protective stops, and letting winners run/adding to winners. What seems easy: Price just made a second new high and is falling; that means price went...

Matcha, here's my 2 cents: Remove everything from your chart except the 20-bar moving average (that's the training wheels for us noobs). OK, now are you totally confused? :p

I would like to personally thank you guys for removing those pesky "CL swing trade" thoughts forever from my mind :eek:

Double tops/bottoms: I think they work best when they are really weak failed breakouts after a strong trend (price breaks the previous high/low by a few ticks, sometimes only 1 tick, and then pulls back). A last word or two on CT trading: I consider PURE counter-trend to be shorting as new...

This is how a 1:2 risk/reward ratio becomes an edge in and of itself and why I recommend this journal to everyone who wants some solid trading advice!

Neke, our biggest defects as traders is bias. "This did X every time Y happened, so it will do it again, easy money" or "The news was awful, watch for a short signal," as price continues in an uptrend all day and I wait and wait... Someone recently asked me for some basic tips for trading and...

I picked up NLY after the May crash, mainly for the 16% dividend, but got the added surprise of the the stock price being rock solid as well. It went x-div and came roaring right back, then announced a secondary offering recently, gapped down and is coming right back again. What I like about...

Glad to hear that. I didn't trade at all before the news because I had an irrational fear that the stress test results would be announced early or leaked out and there would be a huge market move against whatever position I, personally, was in :D Then after the news, what an indecipherable...

I agree with you there. When I announce such a trade to my trading roomies, there is a sudden deep, deep silence, through which I can actually hear them closing their eyes and slowly shaking their heads.

Your entry zones look perfect, but maybe your actual entries are too late into the move? I can't tell where you're getting into the trades, or where your stops and targets are, etc.

OMG, that chart is so clean and technically beautiful, I need a cold shower to calm me down.

I prefer higher lows and lower highs, with the trend or as a valid reversal signal. But...trading HH and LL is a fine breakout strategy, especially with CL. You buy at the high or sell at the low, then close your eyes really tight, throw both arms into the air and yell, "Weeeeeeee!". I...

Boli, I was wondering why the buying kicked in at the 1085 level. My favorite Master of the Obscure Trend Line, pointed it out to me: Draw a trend line from 1:30 low through 5:30 low on your chart and look where it leads.

That would be the plan. I normally assume I'll be awake and focused to get into the trade at right moment. :D

I usually avoid trading between 1200 and 1330. If there's narrow range consolidation on low volume, and you set buy/sell stops outside the breakout levels, you won't miss a move. On the other hand, there are often a lot of false breakouts before a real move gets on, so the downside is getting...

I understand that, but this was an on-the-fly trade. I was planning to enter at a much earlier level that would've placed me short .33 ticks before price even hit the LOD. But I was interrupted by both a phone call and my brother appearing at my door. I greeted him and we talked a bit, then I...

Today's first half hour was 80% of the day's move :eek: