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Wonderful quote Magna!!! " Being on the tightrope is living; everything else is waiting" --- Karl Wallenda ( circus performer ) One of my favs. Allenz

SO TRUE!!!!!! NO TRUER STATEMENT has been uttered on this board. I think because trading draws so many " intelligent " people with strong education or business backgrounds they think if they search hard enough they can find the HG ( holy grail ). Trading is like poker in as much as you...

I played baseball throughout school and even in a semipro league and always had superstitions. I have carried a lot of things from the sports world into trading, discipline, patience, killer instinct, strategy, and yes, superstitions. I setup my screens the same everyday. I use the same pen...

I will attempt to answer all your questions in a general statement. I use several determining factors to justify playing a breakout or breakdown as opposed to fading the move expecting it to fail. First of all is moving averages, I will only play a breakout of a price range if we are...

I will attempt to impart some knowledge on you in terms of reversals. First of all let me give you a few tips on the SPY: SPY's are tough, as the S&P futures are controlled by locals ( pit traders ) and they are not a weak bunch. Shorting breakdowns and playing obvious setups are...

What indicators or conditions led you to believe that there might be a breakout on your first trade of the day? Why not fade that move into R1 rather than entering a trade in anticipation of a breakout? -----------------------------------------------------------------------------------...

Well today worked out very nicely for me!!!! Nice fluid moves all day in the futures as we had a wide range trend day. although I must admit my first trade did not work out as I entered long near the early highs in anticipation of a breakout. After that stop though we were off to the races...

This thread will attempt to get traders to post and explain their styles and how they are working or not working in the current environment. Too much is being put on setups and asking traders to give away their setups. Styles on the other hand, can be taught and this thread will allow...

A move on the QQQ is approx 1/40 of a move on the NQ ( naz emini ). In other words a .30 move on the QQQ is equal to a 12 point futures move. The NQ's move in $20 per contract, per point, increments. 800 shares QQQ X .30 = $240 1 NQ contract X 12 points = $240 commission is less on...

5. Time of day, many traders miss the fact that some patterns fail at certain times of day. Several chart patterns have a high tenancy to fail and certain times of day, let me offer a few examples. 1. Breakouts, for one, have a high failure rate if they occur over lunchtime (...

Technical analysis works. That is the bottom line, the thing that most traders overlook are other factors involved in the decision making process. Just buying or selling based solely on a chart pattern is a recipe for suicide, one must weigh in other factors. Technical analysis is the process...

While I agree that futures can have volatile blips and they are not for everyone, traders of any size or experience level deal with news events and errors ( like the one that occurred last week in the futures market ). As traders we expose ourselves to risk on a daily basis, this is how we make...

I believe the QQQ to be a great trading vehicle, whether you trade 1 NQ contract that tracks the same way as 800-900 shares or the actual stock. Trading the futures ties up less capital but always keep in mind proper risk reward parameters. A beginner trading 800 shares may sound a little scary...

Respectfully, I want to argue that flags do work. I think the misconception is that all flags are supposed to work. Think of what a flag represents; Thrust move and simple retrace. Obviously buying every pullback after a thrust is not going to work but here is something I do in regards to flags...

I heard a rumor that it was caused by an error by a big player who entered an incorrect number of contracts on a buy. I was flat at the time but was able to play the pullback after the initial thrust. NQ's are offering some nice 8-12 point moves that translate to about a .20-.30 move on the QQQ...

I have taught traders for quite some time and if you search this site you will see my name as an honest and straight forward guy. For newer traders here are some thoughts: 1. Dont overtrade 2. Develop a trading plan that is realistic 3. Make sure your trading plan, if carried...

I decided to focus on the qqq for several reasons: 1. smaller more controllable stops 2. focusing on one stock allows me to create a duplicatable and consistent system for extracting daily profits 3. my personal strength has always been determining market direction, qqq...

Don, I am trading exclusively the qqq and find that there are several setups that occur daily. The problem lately ( last 4-6 months ) is the the ranges have narrowed intraday and the qqq tends to move no more than .30-.50 before stalling or retracing. I have been successful in pulling...