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Beautiful entry, you really anticipated that one well. Seriously, with that being a strong 3rd push down from the open, and you having a long bias on the day, it was a valid setup for placing a bracketed order (OCO), target a 50% retrace and leave it alone. We were discussing how we would be...

Hi cst, what was your reason for going long at that specific price rather than waiting for an upside confirmation bar? I see it as a decent scalper's long entry on my 1-min chart, but on the 5-min chart price bumped it's head against the 20 EMA and sold off a bit, normally a short signal after...

Hmmm...could that explain my significant success trading POT this year?

It's definitely a trust issue. part of the problem is that you can manually test out strategies bar-by-bar on static charts and find high probability setups. But then when you trade live off the setup, price is actually moving. So what appears to be a big red or big green bar on a static chart...

I once read a book that listed "day trader" and "real estate agent" as the number one and two jobs with highest attrition rate :p

Oh come on, now, everyone knows that "technical selling" is selling that occurs because the market is down. :p

ACN @ .01 on May 6th :eek: BTW, notice how the May 6th ES move from 1170-ish to 1060-ish was an anomalous flash crash and we had just better get to the bottom of it and protect the poor investors from that kind of thing, but the ES move from 1170-ish to 1040-ish between 5/13 and 5/25 was a...

Coming up on 2 years day trading, this is still a huge struggle for me. Lately with the more volatile price action, I've hesitated to take trades because my stop would be "too wide". The setup is very valid, but I let the $$ factor keep me out. As for the danger of not treating each trade as...

I like that. We're building up a library of trade setups on this thread: Schiz' "what the hell" trade and Nod's "bitchy trade".

How did your 71.70 stop not get hit? Price dipped to 71.68 on my chart.

Last week the market was way oversold. Now it's just a mid-level price zone in a strong down trend.

I'm in a bitchy mood today. But I'm very happy that you had the sense to ignore your trade until your target was lifted! CL taunted me today. It gave me a $176 consolation trade after running away from me and saying "Catch me if you can, bitch!" Then it ran away from me again saying "Nanny...

Very recently some of my old habits are creeping back into my trading and I feel like I’m regressing. Part of the problem is the fact that the overall market is “in the middle”. I liked it when it was overextended to the upside, then to the downside, but now its “diddling in the...

That's right. You would have. Guaranteed. The only way to let winners run is to place a bracketed OCO order with stop and target, then leave once the trade is on, go into a coma once the trade is on, or have a major power outage that disables all your backup contingency plans once the trade is on.

P/E < 9 and a 27% short interest. Looks like a high reward/low risk play to me. Thanks for sharing this info!

The P/L thread can be very inspiring; it gives a quick snapshot of what various traders are doing. But what is really helpful is calling some live trades with reason why, or even better, posting a time and sales blotter when you're done. Then the rest of us can ask questions about why you did...

Have a good long weekend all, I'm positioning myself to the outta town side! :cool:

That was my exact thought today while trading today. I sat on my trades, patiently allowing them to run, and watched them reverse on me. One reversal was at a point where I was about to tighten up my stop for either taking profits or catching the final thrust of the move. The final thrust never...

I'm finding, too, that the volatility requires far more focus. Look away to read a piece of news or check what's going on in this thread and miss an entry or a good chunk of a move. I'd love to post entries, stops, targets and most importantly reason for the trade, but it's too distracting...

Hi OW, IMHO, if you plan to average down (up) on a trade that runs against you, have a trading plan with a stop and an expected target. Averaging into a losing trade shouldn't be a random affair that's played "on the fly" or what will happen is either you'll get burned one day (if you have no...