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I second the one who said there's a lot of gold buried in the archives here from back in the day. These days, and no offense to anyone, ET seems more like social hour for traders. I think there's still a few very good and even rich traders hanging around here, just not sure how much it is going...

Have to take what the market offers, IMO. For some trades that's 3 points on other trades it's 10-30 points. Today was likely to be a range bound session based on my analysis when I started trading after the first 3 1/2 hours, so I wasn't targeting more than 6 points on my final long entry...

Or just too early and too tight stops. :banghead: Not much margin of error in this game.

Today's an account churner. I'm going with my statistical model and shorting this (90) with a medium leash. One could argue that a lot of good stuff must be priced in at these levels as well, so I'd say the risk is to the downside at the moment. Relative weakness on NQ is also an argument for...

Every pop since Globex opened have been sold. Would be interesting if my prediction played out today. Odds are pretty high. I'll admit I got bullish myself for the last half hour, but it looks like an intraday reversal setting up here.

NQ stalling at the Open being a laggy little ... like usual lately. :) Dragging ES down with. Scalpers market right now.

If this sells of today it should happen within the next 30-60 minutes. Holding a long here, but cautious of the statistical bias which says this can reverse.

I'm reversing gears based on that prior 5-minute Close. NQ coming up against resistance, so need to closely monitor that, though.

Tricky.

Should be a good short scalp here (84) back down to the LOD. Maybe more on the table if it breaks.

It's unlikely that we close this gap today. Possible, but unlikely. My predictive model gives higher odds of new lows today. Waiting to see if we can close above 84 first or not. If not lower, most likely a grinder for the rest of the day.

What do you base your trades on then?

When the prior day was positive - the odds of the last trading day of October being positive is 67 % over the last 17 years. Those who were negative had a few biggies to the downside. Like the 30th of October 2009. Also preceded by a biggie to the upside like last Friday.

Friday hit the 50 % retracement level of this major leg down pretty much to the tick (I hope @SunTrader doesn't arrest me now and say it's three ticks off according to his charts). I've no idea if that holds any significance. I use the 50 % level a lot intraday, but do not have so much...

When the prior day was positive - the odds of the last trading day of October being positive is 67 % over the last 17 years. Those who were negative had a few biggies to the downside. Like the 30th of October 2009. Also preceded by a biggie to the upside like this Friday. Not a prediction at...

Great advice. I remember reading similar stuff in trading books 15 years ago. Knowing it and putting it into practice is very different, though. I imagine a few blown accounts and many more years of experience is needed before learning these lessons. Best advice so far. Consistently taking...

Yes. I mostly agree with that. 3 points may be too small on average in this volatility, though. But if your entries are good you should survive with a 5-7 point initial stop on average and at least be able to scratch it for a tick or a smaller loss. Technically, for Friday, the correct stop...

Wow. That's a post closing in on War & Peace. :) It may be hard to respond to it all, so I'll just try to single out the essence of your post. To be clear, I'm differentiating between excellent and focused trading which still have normal losses and sloppy and unfocused trading when I'm not...

Do you have any comparative experience with ES? I've talked with a guy on these boards who claims NQ to be superior for scalping and how some of his set-ups won't even work on ES. From what I understand he exploits momentum moves and arguably there's on average more momentum on NQ than on ES...

So, September was a very good month for me with few and small losing days, but October was a losing month giving up a lot of my gains from September. Fortunately, I'm still ahead by a bit, but enough that it matters and needs to be addressed. I don't think good traders should have losing months...