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200 MA at 3950 and prior week just below at 47,50. Held up so far, but might just be a weak bounce for today?

Interesting close. I don't track/keep accurate statistics on volume, but that seems to be an unusual high amount of volume going into the close in the last minute of trading in RTH.

No. I would rather say that the issue I'm talking about here in this thread is that I may even stop using the statistical model and go free wheeling instead. Day 1 - Ample analysis/preparation and careful trading. Day 15 - Getting relaxed and may skip analysis/preparation altogether. I've...

Certainly. I've considered it. I think you need to be 100 % honest with yourself to stand a chance in this game. I do know that my approach and risk management tend to change, though. So, I'm cautiously optimistic that if I'm able to get consistent with my approach and filter out bad trades...

Good stuff, savoir. Thank you.

Food for thought. I don't dream about compounding to trade thousands of contracts. At least not yet. But surely it's a goal to grow my account such that I can trade say 5 contracts comfortably. Wouldn't sweeping a small account make sure that account stays small forever while sweeping a...

A few I have archived. I didn't complete these two on top, but a losing streak started just after the peak on both. Most recent: Of course, when you lose money, you start thinking that maybe you don't have a clue to begin with and maybe it was all luck in the first place.

I think greed is part of it as well - particularly when I have a day where I make a huge profit compared to my average daily profit. It seems like that can be destabilizing as well. In fact, I told my girlfriend that a good day I recently had was worrisome as I may start thinking this is a...

Agreed. Yes, but no rewards or punishments for not following the process. Should there be? Usually, I'd drink to celebrate a good day and drink to forget a bad day... :) Right. I think that's good advice. Just like a good trade can have a bad outcome a bad trade can have a good outcome...

Hello, all, I haven't read a how-to trading book in ages and can't recall if this was ever covered, but I'm curious if complacency in (discretionary) trading is a common pattern/problem. A common pattern with me is that I'll fund a smaller account and start trading on a shoestring. I know I...

EliteTrader seems like a harsh and unfriendly place a lot of the time, so it's refreshing to see the vast majority of replies to this topic actually being helpful, considerate and with good intentions. Easier said than done? I'm creating a thread on the subject. Stay tuned if you'd like to...

Do you have any theories on why this pattern repeats itself? I mean, if you were consistently able to 4-5x your account before blowing it? Is it due to complacency or were you simply trading extremely high risk initially and finally the risk of ruin/law of averages catches up with you? Being...

Hi, Steve, If you managed to stay alive for seven years outside the work force and even have half your original stake left I'd say you've done way better than most. I'm sure finding a job or some other primary income will be great for you and possibly help you in trading if you decide to...

Yes. I'm sure quite a few people actually did blow up that day since the action was so unusual. It should be noted that it was a scheduled news release, though. It can be wise to stay flat during those anyway.

Highly unusual, though. At least on ES. As far as I know, the CPI news releases last year have been the only times in a market session in recent time where liquidity simply disappeared and you'd probably face a > 50 point slippage on a market order.

NQ spoiling all the fun?

Weekly Open is 45.25. Should see a move up there now and potentially a reaction. Trading right through could be a tell... :)

Breaking above the current HOD should get the squeeze going... :)

...but, the last few times we opened above yesterday's range it was a strong day higher without any gap fill. Should have taken that 16 entry, but it's never too late. I'd say the chances are considerable for a big trend day higher today barring any selling on the Open of course. Should hold...

80 % of all gaps higher this year have been filled in RTH. Excluding larger gaps it's closer to 90 %. Today might be the exception. I'll buy with both hands if I get a pullback/buy signal after the Open.