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Yes you need to take money off the table if you reach a target. AT least half your shares should be gone at that moment. Letting your winners ride is a great saying but once something gets to target your calling yourself a liar if you don't take the money and let it get swiped back in the form...

Neurtino we both know that to come up with what is my edge or your edge for that matter could take up my more pages on ET then anybody would want to read in one sitting. Heck I can say broadly though that I use traditional TA. I use candlestick charts, bar charts, line charts. I watch for the...

Thanks steelhead. :)

This thread for the most part has been informative and allowed for some good discussion about a decision that plagues the idea of many that trade full time. That simply is it worth trading for yourself if you are just making enough to pay your bills when you can just go in to your career and...

Hey guys and gals I had a few beers tonight. So after 15 years from when I first started playing around with game theory and evolved in to the person I am today that focuses on trading in the stock market I feel its time to share some thoughts on what keeps me focused when I am trading. I...

Hey speakingout give your friend this advice. 250K is more than enough to trade with full time. I personally don't advocate your friend basing his decision to trade full time with 250k from advice on ET. Heck I would venture to guess that 99% of the people here don't have anything near in...

There is one reason that is not discussed that will usually lead to failure for prop traders. That reason is simply the other side of a double edged sword called margin. While prop firms provide the margin for an undercapitalized trader to trade amounts that far exceed their current allowable...

So scientist you decided to reply. I read you correctly. I have completely pissed you off haven't I? You are so mad at me you can only come up with a retort of "my records must be false". I am glad that they are impressive enough for you to think so. I do admire the way you reply though. You...

Scientist so in the end you don't even post your P&L how typical. Lots of talk no back up. You still go on to say you have more money than me even after the fact you wont post your simple P&L hey pick any month you want anything at all. I doubt you have more money than my by they way...

Scientist, you really do need to learn how to read posts properly before you answer them. Point 1, you wanted to know if I take 4-6 points and in what time frame. I used the term "for arguements sake" in the original post. What that means is for "example". I take all different amounts of...

Fourth and final chart.

Third Chart

Second Chart

All charts are annonated so that you can just view them for commentary. Hopefully this will provide you with a visual representation to what I meant when I wrote that legnthy post. First Chart

I think what people are getting away from here is that Jai is talking about having a trading plan. For me that means having a number of stocks that you follow and know what the support and resistance of those stocks to determine where the "actionable hotspots" are that will cause imbalances in...

I have a datek account from the very beginning. I used to use them for a year in 1998 mainly. I have one word of advice for you and this is from the heart. RUN! RUN! RUN! and don't look back.

The quotrek, my old friend. Quotrek was very useful to me back during 94-98 especially during 94-95 when I would use that "high tech" gadget to receive quotes via FM radio waves. The unit had a little stand "like a desktop picture frame" that would prop it up so you could leave it on your desk...

Hey Chuck, I used the Old Quotrek back during 94-98. The old unit for those who are unaware was an FM receiver that had a battery life of over 8-10 hours per charge. What I need to know is since you are offering the new quotrek as software via wireless signal this time used on a different...

I was browsing through the internet for stock scanning platforms tonight. I came across PC quotes website and they offer a scanner called market screen for 29.95 per month after a 14 day trial period. It looked like an average scanner so I set a serach in to google and came across another...

I love this line by DON "If you plan on ONLY making 500 per day". When I see this type of a ridiculous statement by a person (Don Bright) who knows the real truth. {That truth being that most people who trade are failures.} Most cant make money ever and most cant make it year over year. Now...