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You might be able to improve on this (a cool idea, btw) by maybe multiplying by the correlation coefficient? I guess this would be unneccessary if you just calculate the line from a higher TF, but if you're on say a 1 min chart, multiplying by cc will give you a value that's weighted by trend...

SEC has no control over futures market

That would only work for the days where there is one prevailing trend the whole day (a long red or white candle), not like today

What about the electronically traded minis? I think this applies there, of course that means someone other than pit traders (because there aren't any) are profiting during the chop

Interesting, what methods are you using for your entries and exits?

I guess I may have worded my thoughts incorrectly. I don't mean large institutions, but rather the pit traders (as TheStudent) pointed out. Someone must be taking profits during the chop because the money isn't dissappearing :)

Yes but in modern day trading there is much more volatility, floor traders aren't just picking off points around the pivots, they're obviously doing something more effective

So why not try to follow in their foot steps? :)

I did a little thinking today and I would like an oppinion... Futures are a zero sum game, and popular belief (and I guess a little fact too) states that over 90% of traders lose money in the futures market, that means that at max 10% of traders are the ones making big bucks consistently, most...

Depends :) Go to Oanda.com and play the FXGame simulator, see if they work

catching breakouts on the 60 min? :D

The new margin reqs are 2000$ initial req and 1600$ maintainence per each contract, it used to be closer to half this... They changed this recently, within the last week I believe

I've done it for about 3 days now for an hour or two at night each day. I'm up 500 so far trading 50,000 EUR/USD units at a time (3000$ of margin with 20:1), I'll start on 1 day charts, then zoom down to 3 hour, 30 min, 10, 5, and 1 min drawing in trendlines and any price patterns I see. Then I...

Oanda.com has 2-3 pip spreads on EUR/USD

I've recently started venturing into forex myself (from ES) and I like it a lot, I'm even considering moving money into a forex account and trading EUR/USD after the regular ES session. It's insanely liquid, forget about slippage, there's no comissions, instead you pay the spread (which on the...

I guess the way porgie put it was blunt and without clear reasoning. I'll try to help though... You shouldn't be too concerned with commissions, as long as they're reasonable (below 10$ round-trip, try IB $4.80 round-trip). Why porgie said this may be because many traders that are new to trading...

I use wld 3.0 for autotrading systems, fairly reliable after all the kinks were worked out another thing you guys might want to check out as far as screening every stock (including thousands upon thousands of OTCBB) is stockfetcher.com

Those numbers sound a little too good to be true :) Make sure you're not over-optimized, if you are you will fail even without re-investment

First of all, I have to agree that you will probably do better on a higher timeframe, maybe 3 min? Ok, on to the chart. Your first entry was good but why did you not exit and reverse at the positive divergence? You could have easily broke even on the short and made half a point on the long. On...