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You can buy a Tesla!

This is the line between amateur and pro. I have a trading plan for every trade. I have excellent risk management. I have an edge. What I'm still missing, the thing that separates me from crossing that line to professional, is taking every signal mechanically without hesitation...

The daily chart looks very heavy. If you're a swing trader who's short from Monday's lower high on the daily chart, or from yesterday's downside breakout, I see no reason to take profits yet. But if you trade intraday, just trade either direction based on the price action. Unless you're...

Finally! An explanation for those rogue moves out of nowhere: http://www.nytimes.com/2010/07/01/business/global/01oil.html

I'm not sure if no one's done that. The trader who sold 75,000 contracts on May 6th potentially made over 200 million that day. It COULD happen :D

Dendreon Shares Fall As Medicare Considers Provenge Coverage 6:23 PM ET 6/30/10 | Dow Jones By George Stahl NEW YORK (Dow Jones)--Dendreon Corp. (DNDN) shares plunged in late trading Wednesday after the U.S. government said it would analyze whether covering the costs of the company's...

You nailed it, friend! Big Pharma got nothing out of me with my cancer. Oh, the doctors tried their best to convince me that chemo was not optional, it was required, but I did my own research, found out the truth, boosted my immune system with the free "medication" we ingest 3-4 times a day...

Thanks! I'd like to add something to this: "I use a 5-min chart. When I see a 3rd push in progress, I watch for a second price bar to extend and the moment price on my DOM pauses and pulls back a few ticks, I may jump into a counter-trend position with my stop at the new high/low. This...

A stop loss should involve a price at which the setup that got you into the trade becomes invalidated. Some examples: 1. You buy or sell the new high or low in a breakout. Your stop should be a fixed tight amount because real breakouts have strong follow-through and failed breakouts often...

I'm long PWRD. I sure hope the Perfect World isn't also a short :eek: :p

Well played, Smiles! As for following another trader's posts, I find it useful to analyze various traders' strategies, especially exit strategies for obtaining maximum profits. I would guess that if 20 traders entered every trade at the exact same price and time as Smiles today, you'd get 20...

(Shhhhh!!! DO NOT tell Schiz how much $$ I left on the CL table today!)

I think of mean reversion as a counter-trend strategy. With-trend trading involves either trading breakouts in the direction of the trend, or buying/selling pullbacks in the trend for the next move up/down. When a trend is making a 3rd push, trend followers are going to look for an exhaustion...

Schiz, I'm so glad I get to say this to you for a change instead of vice versa: You gotta learn to let your winners run! Despite what's running out your pants. :D :D

Stop was 76.22, off that internal double top. Very comfortable trade.

:eek: :eek: :eek: :eek: :mad: I was short @ 76.16, took profits @ 75.85 and didn't re-enter because I thought there'd be a bounce first!

End of day I had a short signal here and thought for sure the market was too low to short and there'd be short covering that would trap me in the trade and stop me out, plus I almost never trade at the end of the day, so I shorted @ 1036.00 just for the hell of it in my sim account and covered @...

I do both as well. I will trade with an established trend, looking to enter short on lower highs or long on higher lows, also on price bar breakouts, 20-bar MA breakouts and high/low breakouts in the direction of the trend. But counter-tend fades off very strong moves can be every bit as...

I tend to have a short bias, but that's been a good thing lately :cool:

Why?