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Anyone's guess how many he trades, could easily have scaled in over 100 contracts. Scaling in properly, works - especially on a trend day. Good for him!!!!!!!! Steve

No problem! I think there have been some great responses, just sometimes the written word comes across a bit harsh is all. I think one of the main things to remember when sim trading is to not cheat. Another thing that is completely and totally true, and you need to believe, is that...

EminitraderDM, everyone has their own risk tolerance and risk management methods - you need to figure out what fits yours. A few weeks of sim trading does not a trader make. Many traders with years experience lose their ass too - it's the nature of the biz. You should strive for perfect...

Well, your first post makes no mention of your experience. The chart was filled with too much "noise" for me. Since you now have a few weeks trading with a demo, I suggest you spend at least a few more months practicing managing your trades, keep logs. Don't be in such a hurry to lose...

I could be completely wrong, but I am guessing that since you are asking how much to start an account with, you will lose whatever you put in the account simply due to inexperience. Check out Infinity Futures, open a demo, ask for Russ, trade the demo for a few months before you put in...

Good book. A lot of folks forget that Candle patterns, including the Hammer, require the next complete bar for confirmation.........the obvious problem waiting for the "confirmation bar" is that often times, the move is either done - or the retrace stops you right out of the trade. Just...

I think the market's been trading on fundamentals for at least the last few months. IMO, the market needs to see an improvement in unemployment........without jobs, economy gets worse, bear continues. 1215 area on the NQs a key area to watch. Steve

I do not understand the $SPX vs putcall 20ma, but the trend is still down. We're still making lower lows and highs. Downtrend resistance needs to fail - we gotta gain about 100 points to do that, then it needs to hold. Trend indicates we're more likely to break down than up. Who knows...

Good post. I don't see any reason to get bullish yet either - down trend resistance needs to fail first.......seems to me like new lows are coming imho. Friday's bounce from the limit down open was much less of a bounce than the last few times we were in this neck of the...

ha ha I got up this morning and it was already limit down - no position here. I don't know why the bids are sitting there - - must be nuts?

They are sitting at the bid below the limit down price - so no, that bid cannot hit.

Unless buyers come back before open, expect a nice gap down..........anyone's guess after that. Stops get tripped, margin calls means more selling - then? Look at the sellers vs buyers below. Steve

http://www.youtube.com/watch?v=yL8GL5dvQAQ&NR=1

Yep, I share your view that you made a big mistake all right. Hopefully your broker lets you trade outside regular market hours. Otherwise, realize we are in a bear market so regardless of the news, be glad you did not go long into earnings - and in a bear, like we are in, expect news to get...

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=%24spx&time=8&freq=1 Goes back 10 days.

Criteria? Start with longer time frames to establish some key support and resistance levels......this might also help establish a real break out vs just a jump in price right to a resistance. As far as whether or not they are a "positive expectancy" or not, I would tend to say that they'd be...

Well, so far, NQs stopped cold at Fridays high and ES not strong enough to make it to Friday's high - - the night is young tho. Steve

Watching ES to see if it'll fill the gap down to 891 or so before bed time. (Secretly hoping we zoom to the moon :-D) Steve

Yessir!!! I am always biased with the longer term trend - or at least I try to be........when we are at these levels, it is easy to be biased the wrong way tho. I read another poster's opinion saying that as long as everyone expects a bounce, forget it! I agree with that as...

Black Monday or not, go with whatever the day, or your time frame brings..........or simply stay out. The way this market is swinging intraday and the fact that there is every fundamental reason to head lower and not higher, use Friday's intraday chart to get your S/R levels and trade...