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I still use a lot of marketable limit orders, but I think I definitely had 2 or 3 last week move heavily without my order getting filled. I trade crude oil futures which is very different from the stock index futures in that I may be targeting a .30 move and price can easily jump .15-.20 of that...

Farley focuses on swing trading, though most of the concepts can be applied to smaller time frames. Farley also recommends looking at old trend lines based on larger time frames to pinpoint areas where "the obvious" fails as result of the big money making decisions based on those more obscure...

Keep in mind that by day trading the most common time frames used by day traders, you place yourself with the momentum of the crowd. If the majority of day traders are using a 5-min chart for signal bars and entry points and you place a buy stop or sell stop just outside a breakout level, you...

Actually averaging can be adding to a winner as well to a loser. I really have no idea how you trade, but larger max share size certainly allows more room to work either strategy, one being counter-trend and the other with-trend, but both being very effective if managed properly. I have to...

Neke, when you started the year you were looking at doing more swing trades. I thought that was a really good idea, allowing you to average in (if necessary) over time based on an expected RTM move. I recommended SHLD options as a good swing trade idea in January and it went from a high of $106...

It allowed you to scale trades more effectively.

My, my, my, how the facts become so rapidly distorted. I didn't actually meet him at his house. We met at an undisclosed location deep in the bowels of the earth, protected by a meter-thick layer of caliche. Liz stood guard with an AK-47 in one hand and a copy of Al Brooks' "Reading Price...

Hi Matcha, I read through your journal and it's an example of how to do a journal right! I still read my own journal (now closed) to remind myself of what I've learned, because it's so easy to forget and repeat mistakes. Al Brooks' book is by far a most difficult read. I would read about...

... to allow the longs time to get to the bridge they're going to jump off of, and the shorts to get to the airport for their unplanned vacation to Fiji, before rush hour.

Arthur, you are freakin' me out. What exactly do you do with a 1-sec chart... And here I thought I was an ADD trader. :eek:

Let's say my edge is that I buy or sell first and second breakouts in a trend. (So once a reversal signal is put in and a new trend begins I buy the break of the first or second new high, or I sell the break of the first or second new low.) Breakouts sometimes fail, but I've found that at...

I'm struggling with this one as well. I'll vow to stick by my stops and targets, do well for a trade or two, then next day I'm back to micromanaging. Today I was positioned short crude oil @ 72.50. It moved in my favor several ticks below previous support and then bounced back up above my entry...

Your strategy is ridiculous only if you care about exercising proper risk management. BUT... You're young and making lots of money! You have plenty of time to recover! You're not using margin! You don't care if you get wiped out! You came into this world with no money! Just because a...

Looks like the world is indeed a short, but the Perfect World appears to reside in an alternate universe so far :cool:

I saw the talking head news afterwards and I guess the unemployment rate being lower drove the spike, then of course reality set in :D

Looks like NFP sucked, anyone know why the rally off the news? That was just silly price action.

BUY BUY BUY!!! No, wait...SELL SELL SELL! No, wait...BUY BUY BUY....

You know you have an edge when: You can make a list of your prime trading setups and entry signals, and you have a minimum risk:reward ratio below which you will not trade a setup. You can move a chart with price bars in your time frame off the screen so that no bars are showing prior to...

It would be nice if some other mean reversion traders could post some trade descriptions (entries, stops, targets, final result) or chart of some trades for comparison. I've seen RTM traders take some big hits. I avoid that using the RTM style I outlined here, because RTM is just one of...

There's definitely a lot of sweating and moaning involved on certain trades :p