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Huios, I had a couple of trades today, one which was similar to your trade 7. I hope the 5min chart helps you in your trading. One thing about this business, the learning never stops. I have attached a 5min chart with 3 points on it. 1) A buy at the breakout of the morning high. The trend...

Vulture, I'd love to meet someone who "can perfectly time every entry".. Don't think I ever will. My opinion is directed to every trader out there who reads these posts trying to pick up techniques to help them in there trading. If the message gets across that this is not for...

To everyone who averages down. Good Luck, you'll need it. I can't understand people trading that way it sounds very stressful to me. As the comments have said only for very experienced traders. I just hope no beginners pick up on this system and try it. They'll fall into the 90% basket of...

Larryb, read my reply at your other post. Anyone that uses this system is headed for disaster.............

Larry B, Don't take offence but anyone that trades like that will find themselves in the poorhouse very quickly.. That is the quickest way to lose all your money averaging down. Any good trader will tell you that. Any good book will tell you that. Don't do it. Do you trade like that Larry??

Huios, Your Trade no2, the one you bought at the .382 ret. If you look at a 5min chart you would not have taken that trade. It stopped at the .382 but with no break of the high of the bars there was no confirmation. However if you look at the .618 ret on the 5min chart you can see a break...

GJ Mason, I trade a systematic approach about 80% of the time but as markets are made up of supply and demand by humans I also use 20% discretionary. And yes I am pulling profits out, I have too I do it for a living. I would have to employ a secretary to list all my trades here and...

Sunnyskies and Huios, To Huios, You are right, life is to short so lets enjoy it first with family and then by ripping lots of money out of the market. Best wishes to yourself, family and friends and lets hope for a quick recovery. I am not a religious person so I won't go there. Back...

Haven't got time to post a chart but the trades were as follows. 1) 10:28 sell 1004.50 buy 1001 profit 3.5pts 2) 11:15 sell 999.75 buy 995 profit 4.75pts 3) 12:24 sell 993.25 buy 994.25 loss 1pt 4) 15:16 sell 993.50 buy 991 profit 2.5pts 5) 15:37 sell 989.50 buy 990.50 loss 1pt Total 5...

I would have to agree with Sean Juan. I too only use price action to daytrade. I let the price give me the setups and they are basic like breakouts, d/tops etc. I use 1pt stops.

Sunnyskies, Here is a 5min chart of Friday's SP Emini. These were 2 pretty simple trades on the sort of things I look for. Had a total of 5 trades for three winners and two 1pt losers. This type of trading is not for everyone but it works for me. After reading heaps of books and doing...

Sunnyskies and others, I will post a chart later today on 2 simple trades that were in the ES on Friday both using a 1pt stop. Judge for yourselves. The trades are there everyday with tight stops.

Easyrider & Huios, The best setups are the easy ones like breakouts from support/resistance, double bottoms/tops, triangles, conjestion, equal ranges and retracements to a level. It all comes back to keeping it simple. These setups are in the emini everyday, its just a matter of watching...

Huios, Can I ask how knowing what the intraday travel range does to help with your trading the next day. I understand that the range from high to low gives you an average of what range the market travels over any day which could help in defining a target area. But I don't follow how knowing...

Huios. I think your journal is a very good learning curve for traders. Going through the emotions is the best lesson anyone can have. Personally I think the exit is the hardest part because this is where the mind takes over. Will I hold for lots of profit, will I take a scalp for money in...

Jboydston, Finding your posts interesting. Just wondering who is your broker? Your commission costs are the smallest I've seen.:confused:

Huios, Have enjoyed reading your journal. I am also starting to trade fulltime and its interesting to see that the things going through your mind are the same things I am dealing with. A couple of ideas you might like to try. 1) I believe to trade professionally you must not have any...