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If you like to counter-trend trade, you got to pull the trigger as soon as you feel that price exhaustion. That's when you can have a super tight stop, low risk.

Nice short IV, and if it helps at all I covered my short @ 85.65 about the time you posted this :)

Did you ever go short???? :p

They only read Schizo's calls :p Here we go...

Just my opinion, but if it were to hit .92 it should drop to .80

If you're bored waiting, go long while you wait :D

The markets have been in an uptrend for nearly 2 years. Did you test your intermediate/long term mechanical short trend following systems during the decline from October 2007 through March 2009? That would be where an intermediate/longer term short trading system would make sense. I'm not...

JPM is, IMHO, a "best of breed" bank stock. If you're looking for a good long term investment in a financial company, I believe JPM is a top pick and I had just placed JPM on my active alert list Friday for my IRA accounts. I prefer to buy on a dip, so even if it breaks out early this week, I'll...

If pre-/post-market trades overall have been net profitable, then by all means I'd keep the strategy. But options are very risky at the open as your revenge trade proved. They are priced to benefit the sellers, who are taking on a lot of risk at that point. I know you're not a technical...

Well, let's indulge in mutual admiration, because anyone who has lost/is losing money trading knows in their heart that what you say here is spot on. Trading is so relaxing and rewarding now that all the emotional and psychological baggage is out of my hands! I'm frequently surprised when a...

The nice thing about trading a very limited number of instruments is you can get to know them well. With careful study you define high probability patterns, "safe" levels at which to place protective stops, positive reward:risk ratios, and signals for when to let your winners run. You have key...

No, I did not see any contradiction. Emotions play out at the market open and once the opening noise settles down, you can let price take you into your trade. "The nice thing about price action trading is you don't even have to know what 243.36 means; all you have to know is that buyers...

Above are the magic words. Mastering technical price action is the key to the kingdom of consistent profitability. Price action reflects everything driving price. On Monday morning, in response to some back-and-forth from short term swing traders both long and short, I posted in ES...

Thanks, and to think it almost didn't happen. My buy stop was in place as I thought for sure we're breaking for the figure and beyond (I imagined those R levels getting swept right on through the 87.00's, having seen that kind of crazy full retrace in CL many times), and the sell stop was more...

Reminds me of a Mark Twain quote: "October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August, and February."

What contributed most to me attaining my goal of trading in the zone was a long period of intense manual backtesting of my edge. The invisible hand that was limiting my trading touched me day after day, causing me to over think my setups and pick and choose from among them. Every day I'd find...

He doesn't have to go to all this trouble to get NFLX stock price to drop so he stop the bleeding from his account. Tilson capitulated, which means the top is likely in :D http://seekingalpha.com/article/252316-whitney-tilson-why-we-covered-our-netflix-short

No, it's absolutely unnecessary, once you clearly identify your edge and then trade all setups. Leave the initial stop and when price reaches your target zone, your only decision is whether to take profits or let it run further. I now trade all my setups and despite taking more losses, I'm...

Once you learn how to trade, there is no fear. Neke has no fear because he has a full time job. I have no fear because I have a solid business plan for my trading.

Neke, have you evaluated the net results of your pre-market/post-market trading? Extended hours trading of stocks is pure gambling, IMHO. You're dealing with emotional reactions of amateurs who believe they can get a leg up on the competition. I personally don't believe there's anything to be...