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If my memory isn't too hazy - the essence of his method was simply to trade breakouts of boxes, i.e., stocks that were consolidating and trading the breakout of the range. Further, as he became really succesful doing this part-time he eventually became a pro-trader with an office on Wall Street...

Still holding this? If so, you took approximately 65 points of heat on this trade. Like I said before - this method only works if you're willing to sit through deep drawdowns and if you don't compound your profits. If you doubled your stake after taking those 90 points, i.e., compounding, you...

Meaning...?

How much was your life savings, i.e., how much did you lose in total? And you lost this trading what exactly? Cheer up, pal. At 28 you're still young and have plenty of time to make it back. It would have been way worse if you were an older guy and literally had no options or time. Mark D...

Not in the market at the moment, but curious how experienced you are? I remember (and this is something I seem to have seen in other new traders) being very attracted to the short side when I first started out in the markets. These days it's the other way around and I've become much more...

There's nothing magical about profiting from long entries in a bull market which essentially is what this strategy is. It works when markets go up. Less so when markets go down. If I'm not mistaken - several of the participants in this thread have taken some large hits eventually, so do use a...

I'd say technicals with the occasional news shock. During Trumps reign those tweets could really move the market. I believe the majority of trading volume today is done algorithmically (does not need to be high frequency / low latency strategies) and I see technical levels on a daily and weekly...

Yeah. For 2020/2021 the actual number is 70 % of the time. So, if you have a good buy signal otherwise on a Friday you can add this supporting statistic in your quiver. Trading range - check. 7 points off to the upside. 100 points off to the down. We barely dipped into last week's range...

The last major swing on a Friday is up more often than down. About 63 % of the time.

Personally, I'll be happy with 3920 - but I have 3927/30 as outlier targets by the Close. It's happened before and it can happen again, but might be a stretch. Let's see now. :)

I feel fairly certain we have the LOD for the day. The way I read this we are stuck in a trading range bound by yesterday's LOD and the 50 % Level for today's RTH session. If we break out of this trading range and above 3906 I don't see why we can't trade all the way back up to 3920 +++ with...

Close above or below 3906? I vote above.

I know it sucks, but at least you have a chance then. Maybe make a deal with yourself that you can move back to the full contract after making 100 points per contract on MES.

According to my calculations - odds favour a close above 3902 today. I will go long again on the next pullback if I get the opportunity. There's a small chance we can trade all the way back up to the HOD, but I won't hold my breath.

That was an expensive toilet visit. Stopped out for + 10 while away. Not sure I would have played it differently if present, though. If no second test of the LOD I expected yesterday's low to hold on a second test of that. Turns out they ran it a few points below that. Not much to do right...

3880. I always use the cash close @ 4 PM NY EST.

Good chance we have the LOD here, IMO. But will we get a second test/DB? Best for me is if we trade back above yesterday's range now here @ 95. :) EDIT: I will stop out @ 93 for + 10. If not - probably targeting 3910-3920 on the day.

Stopped, but got back in @ 83. If we trade well above 3895 now, I will get greedy. Will probably stop out below 3895.

Stop @ B/E.

Long 3881. 5 point stop. Today will get ugly if this does not reverse the day.