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When you see a possible setup, ask yourself why price should go higher or lower than your entry price. If your answers are purely technical, the trade has a much better chance of success than if your answers are based on your opinion. For example, today I woke up, opened my platform, checked...

Hey Brian, you seem to be trading a bit random. Your initial long @ 1149.00 was an early entry. When the 10:00am ET bar closed, you had a decent with-trend long signal around your 1149.00 price, with a stop below 1146.00. When that long signal bar failed, you want to exit your long and start...

Your first short was pure counter-trend, so no problem bailing out if you felt the momentum down was not strong enough to warrant holding. You had no way to know price wasn't finding support at a higher low for the next push up. Only in retrospect do you know it was a great place to short...

Dammit, bigsnack, you PROMISED not to reveal my trading secrets!

Picaso, wish I'd read this when I went long the same time @ 79.44 just before the re-attempt to test the high. I would've targeted 80.00 instead of holding almost 20 minutes just to get 20 ticks, and then watched as it just continued up and up and up... I tested many crazy strategies while...

I've been told the Chi PMI is released to subscribers 3 minutes before the official news release. I totally forgot that little fact and watched my 24-tick CL profit evaporate to 3 ticks on the spike :mad:

Looking at a daily chart, the break through 77.17 pivot high confirmed the uptrend off the pivot low and a break through 78.86 would've been the next target zone for swing longs.

Write down your "A" setups and only trade them. If it's not an "A" setup, then no trade is the best trade. As soon as you see the setup forming prepare in advance (place a stop order in advance if entry requires price confirmation such as a breakout or a break of S/R, or place a limit order...

Buy every new high. The higher the short interest, the better this works, so NFLX is a prime candidate. On 9/24 NFLX hit a new 52-week high of 167.12. 1. On 9/27, place a buy stop order @ 167.13. 2. On 9/29, watch yourself get long NFLX without lifting a finger. 3. Take your...

It was a big step for me to get over back to back losses and ignore them basically as long as I was doing the right thing. I had a couple opening trades in AMZN some time ago for -$300 and took the 3rd signal without hesitation, capturing a huge move. That was a key day for me and I believe...

The optimal profit is to realize the full premium collected at or near expiration, and the further price stays from the strike price the better. The last thing you want if you're short puts is a correction, unless you're short because you actually want to own a stock at a discount.

My friend's broker has a "leader board" of traders who register to have their results displayed throughout the day and the heavy hitters who usually have mid 5-figure days weren't doing too well today either, so dont' feel so bad. I think sim trading can get you back in the rhythm of things...

If you have 4 losses in a row from fading the market or revenge trading or jumping the gun without waiting for a proper setup, then I agree that it's a good idea to step aside and review rules/setups. But if you have 4 losses in a row from taking valid setups and getting chopped by less than...

Wouldn't you be happy to pocket all that premium for nothing if this bull holds up? :confused:

Just a little hint for breakout traders: Play EVERY breakout. It's never to high to buy a high. This last one was an instant 30 ticks and I didn't trade it because the move looked "overdone" :eek:

Were you the editor for Al Brook's book? :D

I teach a person how I trade. When I'm done, s/he recognizes a valid technical price setup, knows how to enter a trade, knows where to place an initial protective stop and knows where to place a minimum profit target. We put on identical trades, yet for some reason this person consistently exits...

HB, long time no see! I have an irresistable urge to trade through the report tomorrow. Every week I sim trade through the report and I do quite well. I have a hypothesis that you can pretty much position yourself in either direction prior to the report and then place a profit target limit order...

I like entry anywhere between 1141 (TL break) and 1140 (20 MA break). The 2:15pm ET bar is a key bar because of the way it closes. It attracts trend-following longs off the trend line, draws in more of them on the break through the previous bar's high, and everyone's expecting a breakout to...

I believe I could have a win rate of 100% with my trading strategy but in order to accomplish that I would likely give up 50% or more of my profits. As it is, I often give up significant profits just by moving stops to break even too soon.