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I trade futures as well now, but when I trade stocks it's only 1 or 2 stocks and only 1-4 trades a day to generate $500 or more profit. I've selected stocks that move 2 or more points a day and out of all the ones out there that meet that criteria, I pretty much settled on POT (though Friday I...

I'm hard-pressed to find a half hour time frame that DOESN'T have a 50-tick range. More than half hour in a CL trade, feels like a long-term investment :p

Did you take that trade? Tell me you did and that you'll get on Skype with me Monday and convince me to take those trades, too :D :D

Counter-trend is when you short a strong thrust upward in a trend (fade the move up, or sell into strength). Vice versa for buying against a down trend. It's usually not a good idea until 2 pushes in the trend have already transpired. Also, it's a good idea to be stingy with your stop, move it...

Penny stocks may not be discussed on Elite Trader, so this thread is not actually real. :D

Early WRB's often keep me out of good with-trend trades. Al Brooks says to switch to a 1-min chart for entries after a very strong move because in a strong trend you'll miss the boat altogether if you wait for a pullback to the 20 EMA. I can see why so many traders just play the ORB off the...

Ammo, stops? You're scaring me :p Funny thing is I had only until 30 mins after the open yesterday to trade so I was looking for a big bang for buck trade. AMZN in pre-market looked to be seriously on sale and it's a great day trader's short squeeze stock, so I tried going long right off the...

I trade lower highs as reversal signals and in a down trend, higher lows as a reversal signal and in an uptrend. I often trade off hammers and inverted hammers (shooting stars) at the top or bottom of a strong move; it's a high probability trade. I sometimes trade breakouts, buying a new high or...

Anything can happen. You can end the year up 185%, or more. I'm glad to see you are alive. I was worried (it's a "mom" thing) when you went MIA after our convo last weekend and Austin's cautionary post. All the best!

Great week, Lescor! Seems like it would be easier to trade SPY options than a very large SPY position. They're very liquid, tight spread. To buy 30K SPY off the open today would require about $3,200,000 in buying power and if you took profits on the first run up, you'd net around $60K. But...

If I put on the trade as soon as it sets up, I do move my stop to b/e after a decent move, sometimes halfway to target, sometimes a little sooner if the volatility's not too high. If I chase an entry, I have to be more careful about moving to b/e too soon, because the b/e level on a chased...

I kept a long-running log of trades that I micromanaged vs. leaving initial stop and target, and "stop/target/leave it alone" strategy resulted in FAR more profit than trying to read the tape and moving stops around or exiting early. What I found is that price wiggles often occur within my...

Thanks for the input, Schiz. I think the buying frenzy out of the gate was stocks on sale. Everything seemed bargain priced in pre-market. I had 30 minutes from the open to trade before I had to leave and I saw AMZN in the 118's in pre-market and I had to have some! (AMZN is a great short...

I just now posted in ES Journal: http://www.elitetrader.com/vb/showthread.php?s=&postid=2848239#post2848239

I find the morning trading to be the most reliable technically, and rarely trade the close because the price action is often surprising (to me). I've been analyzing the price action into the close each day and picked up on something recently that also played out again today (I traded it in my...

I agree with olias here. It was pretty standard price action. Market was in a "buy every dip" mode for many months. Dips were reliable support areas that brought in buyers on high volume. The market had been drifting down and the dip buyers were likely waiting for a mini-capitulation selloff...

Also Cramer used the words "DOW 9000". Buy signal confirmed. Hey, Incy, I'm gonna put my sim Ferrari money where my mouth is: Just hurled 50 ES sim cars to the long side. Will add to the position at 973. BANG!

Regarding, "One of the best setups I see on ES off the 3-min chart is a hammer/inverted hammer at a pivot point off a strong move in one direction." This is a counter-trend play and the hammer/inv hammer following a strong move is a high probability reversal signal, a good play for aggressive...

I gave up drinking when I started day trading, but I've been heavily into POT for months now and never had a trade busted :D

It sounds insane, but I find it quite possible. On 5/6, the S&P dropped 100 pts in a day and the country's up in arms about flash crashes, HFTs, evil market makers shirking their duties, rogue traders with 75,000-lot sell orders, and so on. Here we are down again over 100 pts in one week...