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There are three people who's writings make my head hurt, but from whom I derived a wonderful trading education: Al Brooks, Alan Farley, and Jack Hershey

I trade CL which moves rather quickly from here to there. My trades last anywhere from 20 seconds to an occasional long term investment of 30-40 minutes :p The stock index futures, however, are slower at getting from here to there and occasionally have trend days that are well worth holding...

For a couple weeks now, I've been doing my trade analysis comparing the difference between leaving initial stops and targets and moving stops to b/e after a certain move in my favor and so far found that leaving initial stops in place produces more profit than moving to break even. (I do allow...

It was that kind of day, at least for us short term traders using the 5-min chart. You needed to have an "all-day hold" mentality for a long trade to work comfortably. I, too, hit the open feeling bullish, but deep in pre-market, crude oil had made an 84-tick move to the upside, put in...

Pretty sad when your best friend's front running you for the day's low tick :p

Not so bad having a job where if you're really really tired an hour and a half into the workday because last night you played full 90 mins soccer, got home at 10:30pm, ate, showered, and finally crashed sometime after midnight, you can just walk into the next room and sleep. :cool:

My internet connection went down for a while and I'm just now refreshing me charts. Is that price action real between the close and now? Spike up, full retrace and more, then big move up on almost no volume? I'm thinking my data's screwed up there.

I would have to say this guy's currently in the lead, still holding 1 car: 07-05-10 09:33 AM Hope position trades are welcome here. Initiating a long 3 car ES position trade at 1011.50, stop is below 973. Looking to adjust stop and reduce risk as we test 1050. ESD

Nothing seems to happen until a few minutes before NYMEX open and price action looked boring as heck, so I thought it was safe to sneak away for a few minutes! My stop on breakout trades is generally 5 ticks. My target for a measured move is 3 ticks inside the distance of the previous move.

No, I was making breakfast. My timing for being away from my desk during strong moves is impeccable. Measured move breakout setup, too. My target on that trade would've been 4 ticks from the pivot high.

The secret is I can keep secrets :D

You are sim trading/backtesting. When you trade live you'll find the biggest kink in the system is you. You may end up getting in your own way. I have a trading method with a 75% win rate and risk/reward ratio of 1:2 or better. I've backtested it manually for months. I know how to make it work...

You are wise to have a stop in case something bad happens, even if it's a wide stop. There is nothing wrong with a 3:1 risk/reward ratio if you have a very high win % (greater than 75%). I had a conversation with a trader who generates a 7-8 figure annual income. His told me his R:R is 3:1...

Actually I was in a trading room for a long time with a guy who called what he was watching, then called his entries, stops and targets, and was very profitable long term, and it was all free, and in fact he posted his trades on his journal here in real time as well. I never once traded his...

The guy who sold 75,000 cars on May 6th?

I thought this was a stock tip, you know, BARF, another stock my dog can lie here and try to get me to trade, similar to WOOF.

There isn't a problem with that, is there? If someone calls live trades, proves themselves capable of generating a decent profit over time, has decent risk management, then offers trading room access for a fee, and traders sign up. what's the problem with that?

Ha ha! Actually I had another re-entry between the first short and the 75.67 short. I shorted @ 75.85 @ 10:22am ET off the lower high, targeting a retest of the LOD, stop @ 75.95. The thing moves 22 ticks in my favor. Needless to say I moved my stop to b/e during that nice move n my favor. Guess...

Come back to crude! We can have a trading challenge, Schiz. Maybe that will get my ass to stay focused enough to take that 3rd re-entry, the one that seems to contain those 70-tick moves I lust for, but seem to miss every time. :p

The week of expiration has the worst time decay of all. Buyers of OTM or ATM options at this point in time can easily get screwed unless price moves significantly your way. My 2 cents.