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The first step is just do it a lot. When I took my son to get his learner's permit during rush hour on a late Friday afternoon, he'd only driven a car twice in the school parking lot on a Sunday. I was afraid to drive with a brand new teenaged driver and I figured he was afraid to drive...

The action right now is identical to the January and April action this year. Strong bull runs becoming overextended, with the daily range narrowing and the breakouts failing. Here we are again, closing out a big earnings month and every shallow dip being bought. I believe at this point the odds...

RVBD had a short interest almost 40% lower than CMG, and a P/E that made no sense whatsoever, so I'd expect CMG to run up all the way into the close on short squeeze alone, and I'd expect RVBD to dip after the opening shock played out. But we can't predict what will happen next so we look...

In 2.5 years trading: Worst: -$18,000 on large STLD call position during the crash of 2008. The sad part: I had a bad feeling and almost closed the position (which I had averaged down) when it was still very close to break even and didn't find the strong support I expected. The good part...

What he did last week based on the trades he posted here: A) Several big winners trading with the trend (buying strong stocks and buy a dip in a strong market). B) A big loser fighting the trend (shorting a strongly uptrending stock that gapped up even more on great news). Do more "A"...

The survivors in this game reduce size when losing and increase size when winning. The average trader increases size when losing and cuts winners short.

The taste of a runner will help a lot. I'm sure you think I'm nuts for letting so many trades run almost 20 ticks in my favor and stop out b/e, but you'll understand why after you experience a few trades of 30-, 40-, 50-ticks or more, or after you exit a trade for a small profit and watch price...

When I looked at the chart, I see a decent uptrend in progress off some serious lows. I'd want to know exactly when earnings are due, but they raised guidance recently so shouldn't be a miss unless everything just changed overnight for them. If I was buying for an investment, the price looks...

Looks good technically and fundamentally. Why such a big sell off this year?? Earnings growth, really high short interest, and it appears rather undervalued at this price. They report earnings soon, but I can't seem to confirm whether it's Monday, Wednesday, or Someotherday :eek:

You're welcome! OK, how is it you started a journal and I didn't even know it until now? How is this possible? :D That is a counter-trend setup I often take, and I've sold low ticks on 1-tick failed breakouts (and bought high ticks as well) and it's best to wear it as a badge of honor...

The CEO sold 80K shares around $158 in early September when it broke out to new highs. Only left about $4,000,000 on the table (so far). Maybe you could get a job explaining to the insiders that a price breakout to new highs is a buy signal, not a sell signal. :p

Neke, I love it when you break out of consolidation in October! :cool:

May 6th indeed gave me pause and I took time to consider the effect on my small trading account of holding a leveraged position during a serious event (such as a 9/11-type event or worse).

I thought it was clear I was trying to be funny based on the look of that ES chart; my trading roomie actually did that trade today five times. Anyone making a profit trading ES today deserves a Medal of Honor, IMHO.

You mean you didn't get the memo to sell 1178 and buy 1177 all day? I mean, come on, how much easier does it get? :p

I actually stepped away from my desk today and nothing happened. :eek: Mr B, I agree sometimes no trade is the best trade.

Mr B, this action is awful for my breakout trading style, too, (I won't trade with such wide stops) so I used the 1-min chart and it works great!

If, in my time frame, price has been moving down a lot and now is in the process of moving down a lot more and without any signal whatsoever that the move is over, I decide to go long, that is pure counter-trend.

Thank you for clarifying that. Makes perfect sense but didn't even occur to me.

I have my sim account on one PC acting as the data feed for my futures charts, and my live account on another PC. I have no idea if you can run both on the same computer at the same time, but I sure wouldn't want to. I test some crazy stuff in my sim account at times and wouldn't want to, say...