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Thanks OC! Today was a "Hey ho Let's go!" day if ever there was one. I had a PLAN after the open today and when it set up as I expected I jumped on it, then followed the trend down. Best part is I picked the exact trend reversal point after the open. It would appear I was top-picking...

On the daily chart, looks like pretty decent long term support around $400.

Your first trade was aggressive, but it was a lower high, so not THAT aggressive. I take those kinds of setups all the time because they often work. In fact, I shorted ES right after a pullback from 1193.25 left a shooting star behind this morning. I was aggressively short @ 1192.00, with a no...

+$3715 Record day, and enough to prove to me that posting my P/L was indeed having an influence on my trading. Looks like it was a good time for me to size up on ES because commissions are lower than they used to be. :cool: If I have a gawd awful day, I’ll post here; if I break this...

Might be retiring soon at this rate...

Bought C in the IRAs this morning, holding till retirement :p

Still learning a lot about relationships between volume and price. Most of how I use it is by instinct at this point, probably from having seen patterns so many times. Very high volume at the top or bottom of a strong multi-legged trend usually indicates a reversal point - trend exhaustion.

You're such a traitor. Were all 9 of those cars yours? :D

The price action just before I entered said "long", but after I was in the trade I noticed the LH and started second-guessing. I reminded myself to trust the trade, every time I micromanage I regret it. Price has a strong tendency to test levels and the speed with which it came right back and...

A Doji signifies indecision; my goal as a trader is to be decisive :cool: Thursday’s trades attached; times are MST, so I’ll use MST as my reference here. Also I was using a 3-min chart on Thursday because the overnight down trend and the rally off overnight lows were both very strong and...

My spouse and I are in the music business, which netted us a little over $3000 in 2009. TZ, I can confirm this: It's very stressful to trade "scared money" when you have significant bills to pay every month. But the OP is young and likely isn't paying 2 mortgages, $650/mo health insurance...

No worries, Schiz, I'm quitting trading and just wiring my money to you to trade. Thanks so much for helping out :D :D :D

Yes that's the book. You may as well start reading it now, I don't know about anyone else's experience reading this book, but I basically got through 3 or 4 pages a night, read each paragraph 4 or 5 times and got out a microscope to decipher the itty bitty charts that were always a page after...

That's right, a lot of setups fail and that's what stops are for. I don't care if a double top or double bottom fails to hold, because unless a survivable stop can be placed at a max loss of $200 or less, I won't even put on the trade. Earlier today I completed my bar-by-bar chart...

Why does everyone think just because trading provides gobs of money, fast cars, and beautiful wives/children, that working for "the man" can potentially cause psychological damage of such magnitude that you'll rapidly be reduced to a blubbering idiot in solitary confinement at the Institute for...

I've been in communication with Bullverine for the past couple of months and if he's able to trade and manage his risk the way he's been testing the waters based on his recent brief journal, he should be a successful trader. Why does everyone think "9-5" type jobs are guaranteed to provide a...

Fundamentally, MEE dropped on news of a mining accident, not on news of something that is detrimental to its long term growth prospects. Its P/E of 34 is a trailing P/E, but the institutional investors look at the future: Its 2010 earnings projections are nearly equal to that of 2008 when it...

I really appreciate your post. I understand what you're saying: You take something that's working and you keep doing the exact same thing with larger size, you should end up with larger profits. I'm basically still a scalper at heart, though I've made some decent strides in capturing larger...

If you're a believer in the strong recovery that's currently priced into the market, MEE is a much better "buy the bad news dip" long term play than GS right now, IMHO.

I'll paraphrase Mark Douglas here. The casino wins because it HAS to play EVERY game and it has a statistical advantage (edge) in its favor. The fact that the casino has to play every game means its edge can be very slim and it still comes out ahead. As traders, we determine an edge and...