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Jinxu, you can trade dangerously in a manner that places your account at risk of blowing out and still post profitable P/L statements for days, weeks, months, even years before you're taken out of the game. It's not the color or value of the daily P/L that matters; it's how you got there and...

My first trade was pure counter-trend and my fixed 20-tick target was the pivot high to the tick. It was surreal, but sometimes you get lucky. I stepped away to grab breakfast and missed the proper entry on a with-trend trade, but got in quickly on the second invitation, and used a previous...

I've never come close to trading the size I could based on my buying power.

Trading 1 lot is the best thing I ever did. Today I had six winners that hit minimum 20 ticks or better, three break evens and one loser, for 139 ticks gain on 1 lot.

I trade very small size, so I'd never come close to allocating all my available day trading power to any one position.

One thing I did at length (and still do, so I'll have a log of info over time through varying market conditions) is to analyze each of my setups at the end of the day. I don't trade all my daily setups at this point in time, but my goal is to eventually do so. So I keep a spreadsheet of each...

For a while I thought limiting myself to trading one instrument was for the best because you get to know it really well and can stay very focused, but eventually realized that as a day trader who has to generate a reliable weekly income, it's better to have a small diverse menu to choose from. I...

Landmark day for me - more longs than shorts! I believe I may have overcome my eternal short bias. :cool: Price has consolidated cleanly on the daily chart with the downside of the range still intact, but the failed breakout upside today would make me nervous if I were swinging long off the...

Very nice! More than 1 lot?

That's my kind of trade! I can't wait to see how our ATS-in-testing did with the overnight session :eek: CL is technically perfect this morning. I'd have caught this move right here if I hadn't committed the cardinal sin of leaving my desk.

Wow, Picaso, you have to be careful posting a document like this. My head is pretty much spinning with new information and I'm not sure I'll be recovered enough by tomorrow to trade effectively. You can trade butter??? If you're long butter, cocoa, wheat and sugar, should you buy some...

I agree with you on that. My friends and I take hypothetical swing trades on CL and our latest one is long yesterday @ 81.30, stp 80.30, tgt 84.30. I personally moved my hypothetical stop to b/e :D

It should hit 1203.75 because EMG's limit orders always miss by 2 ticks. :D :D

Hey where's those 10 cars on there? :p

I would call that skill, not luck. 6E was a technical short :)

What makes price action trading so effective is that it is self-fulfilling in nature. Buying attracts more buyers, selling attracts more sellers. Strong moves eventually exhaust themselves and bargain hunters jump in, creating trend reversals. The other great thing about price action trading is...

25 I've had a few I took at 10 ticks which dragged down my winning average.

I really admire you guys who can swing trade this thing. I need to generate daily predictable profits and I picked a time frame and method that works for me. I gauge the momentum surrounding each trade and choose targets. Sometimes they're fantastic (pure counter-trend long later today CLZ0 @...

It sounds like you are over thinking the fundamentals. It's easier to become a technical day trader because every day you take advantage of short term opportunities based on whatever price is doing during small time windows, with no concern about what happens in China or Ireland overnight, or...

My friend Geez turned me on a long time ago to the value of fixed stops and targets with a positive R:R ratio. It's all about trust and taking as many trades as you can that present themselves. Over time, you should find this to be a net profitable strategy, especially if you trade with the...