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I expect breakouts to have momentum and will use an initial stop of 10 or 15 ticks and tighten it pretty quickly, which can be problematic on a day like today (my long trade moved 10 ticks on the break, came back to stop me out b/e by a few ticks and then ran to target). Breakouts of high/low of...

I'm stepping away from my desk now. My last trade was a long, BTW, in case that has some meaning for you, Picaso :cool:

Me too, I'm drilling down to a 1-min chart for signals, the 5-min price bars are wide before they signal, half the move is over by then.

Hey, I took a long trade yesterday. I bought a break of the high of a big green bar, too! And the POS trade failed to produce!

No, not crazy. Notice that was my sim account, hee hee...

See told ya :D

Nah, decided to go long 10 and hold thru the report. I mean, come on, whatever profit target I put in will be lifted at some point in the 30 seconds following the report, no? :p

1) Yes. If there's really bearish news but price is trending up, you ought to be trading long, not watching it move 80 ticks upside for the next 90 minutes while waiting for a short signal because the news is bearish. (On the other hand we shorties sure love those 5 min retraces of 90 min upside...

This is strictly from my own experience: I've found that as a day trader using a 5-min chart, it's better for me not to know news and fundamentals. If I see news that is bearish, it keeps me out of excellent long trades and vice versa. As for large traders manipulating price, I believe that's...

Sitting on Hands is the right thing to do when you have a bias and the price action isn't fitting into your bias. The right thing to do as a trader is to have no bias and let price tell you what to do, but I've spent over 2 years trying to work through that one! If I have a bias, price isn't...

Your 27th post showed the chart of how you almost wiped out on July 27th. What does it all mean???

+$563 Was out of my office when THE MOVE occurred :eek:

WTF! I left my office to do something at 12:40 ET. I kid you not. I'm truly truly sorry for not announcing my departure this. I had a little time before I had to go and took a short setup, closed out the trade just before I had to leave, happy as a clam to have made a quick profit and came back...

Hey tlow, That first trade was a perfect "second mouse gets the cheese" trade. In a trend you always want to think continuation until price says otherwise and you waited for that. Counter-trend trading can work well, but if you slip up just a little you can get bit (as I did this morning), so...

Wait, wait, wait... 5 pts in a single trade ("don't exit after 2-3 pts") or "5 easy trades"? Do we have to trade to the long side? I mean, like, if the retail sales news really sucks do we have to wait till DEMTDAYBOYZ return from the pub end of day and join them for the last minute...

What are your specific skills?

Barring panic and really bad news, the tendency for this market is to go up because there isn't anywhere to park money for a decent ROI right now. So any news that's good or even less bad will be an upside catalyst until the market becomes "worried" again which should happen soon based on the...

DGW - MarketEdge Second Opinion updated Friday 9/10/10: Stock is a Strong Buy Yikes :p Nice one, Bob!

Learn how not to exit too soon before aiming for bigger gains.

+$243 I missed pre-market and NYMEX open, didn't take my initial trades that signaled (missing first best move of the day), later saw what appeared to be a decent counter-trend setup, but made the small mistake of putting on the first trade via limit rather than a sell stop to confirm a break...