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I'll be thinking long when there's a long signal.

Wee bit of sellin' there eh? And I was at my desk the whole time.

This is very often the difference between success and failure in trading. Most traders pick and choose from among their valid setups. Say you only trade breakouts (buy new highs, sell new lows, and breaks of range S/R) because you know that 60% of them fulfill the profit target of your...

With certain trading instruments (energy and currency futures), I'd say, "Yes." Also momentum stocks have excellent breakouts. You have to watch for particular price action leading into the breakout. A "textbook" trend with HL/HH or LH/LL will provide profitable breakouts until the trend...

I would like to request everyone be nice to emg, as he is the only leading indicator I know of. He made it clear a long time ago that he trades 1 lot per $100K in his account and averages in 1 lot at a time. During the flash crash he posted his initial entry, and an add-on (maybe two). So...

I'm glad they exercised restraint and didn't show me muttering as I was leaving my desk, "This price action is a POS," because I was positioned short on the break of the 1:50pm ET bar and got stopped out @ 92.35, and decided the price action was a POS and lunch would be good idea. And I'm...

Yeah, I left my desk. Seriously. I am not making that up.

This about sums up CL day trading. It chuckles at news and punishes cheaters :p

I've been totally perplexed about this for a few months as the talking heads foretell a continuing large bull run in the equities market and remind us weekly how the economic recovery is well underway and, of course, Cramer (between swigs of Everclear or LSD, can't quite figure out which), tells...

BCE, you have found one of the Holy Grails of CL trading. At a given point in time ask yourself, "What's the last thing I expect CL to do today?" Then put on that trade. I entered an 89.32 long Friday that moved nicely to the upper channel line where I took my profits as planned, and as it...

I was forced to quantify everything I do when I asked my resident Geek to automate my trading. There were many weeks of conversations like this: NoD: "You want to look at a previous pivot low and---" Mr. NoD: "Define 'pivot low'." NoD: "You know, the low of the last pivot point." Mr...

He's an amazing educator and I'd have to assume an amazing trader as well. The Master Swing Trader was one of the first trading books I read as a complete beginner and I returned it to the library after about 3 or 4 chapters because it was way beyond a beginner's grasp. I checked it out again a...

ET indeed linked me up with some amazing traders and provided (and continues to provide) an incredible education.

Waiting for a setup to be validated via a trigger point costs more but reduces risk. If you have a limit to buy into an uptrend at the trend line and the trend line holds up, you got one of the best entry prices possible, but if price slices right through it after your order is filled, you...

Was it just coincidence that the initial invasion operated under the acronym OIL? Wiki says "later renamed", but as I recall, it was renamed almost immediately, a bit of an "oops" moment for those in charge. "At 5:34 a.m. Baghdad time on March 20, 2003 (9:34 p.m., March 19 EST) the military...

The setup can be many things. Say you've identified an up trend and want to join the trend. The setup can be a) price pulling back to the trend line (pullback), b) price consolidating in a narrow range after a strong move (flag), c) price channeling down in an orderly fashion after a strong move...

Ah, seeing that 90.03 line on your chart gave me warm fuzzy memories :D This was a typical case where my laziness during the holiday week (not having S/R levels noted each day) cost me profits on that move. When my 90.03 sell stop was triggered, price moved over 45 ticks in a few seconds. I...

Put on your position when the pullback finds support at/near the trend line or 20-period moving average (these are generally in sync with each other) and place your initial stop below the pivot low of the move. You should be entering off a higher low (or the bottom of a consolidation...

Something that helped my progress a lot this year is talking out loud about setups and trade management, and I plan on doing a lot more of this to keep me focused on patience in waiting for confirmation before entry and also on holding for appropriate profit targets. On days like Friday when...

Aw man, Jack, that would be just plain fun!