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You guys crack me up with the trannies commentaries... One question: who labeled "longs" trannies?

It really depends on what you trade and what time horizon you use for your trades. If you daytrade emini futures like YM ES NQ I think 10K should be enough for a good trader to make 2-3K per month. It's not about how much you need to make a living, but also how good you are as a trader...

Erik, great post for today. You hit the nail on the head with the slower afternoon price action. They call it March Madness for a reason, don't they?

Let me get this straight: what do you mean by "enough staying power"? Does 998 represent an eventual margin call by the broker? If yes, why would you be willing to piss it all away on a single trade? I may have misunderstood, so please explain.

AMT Looks like the title of this thread has something to do with your high probability setups. Aren't Head & Shoulders a re-test of an established support/resistance after all?

there she goes.

ES already knocked at 749's door 3 times...i think it's due to be taken out if we get nearby a 4th time.

Agree. i also like my stops to be a smaller, makes me less nervous. i tend to get too emotional when volatility is too high, feel the pressure and can't think right.

That's exactly what I was thinking today before the open. We had lopsided bearish sentiment and I said to myself: doesn't 720s look like a free ride here? It was so OBVIOUS! Especially in light of the recent Oct-Nov volatility, during which lots of traders got spoiled by jumping in on...

And I just replied to your post. Agree once again with the above.

Your comment is a bit unfair because we were just commenting on a tragic scenario, and that doesn't make one a bad poster. Are good posters only supposed to speak about S&P 2000?

Agree. At that point, who cares about stocks anyways? It'll just be a matter of daily survival.

Looks like sentiment was too lopsided at the open to spur a big drop. If eminis had a 3-4% up day today, that would surely catch a lot of people off guard.

AMT4SWA Impressive analysis indeed. I have one question if you don't mind asking: regardless of whatever tools you use that can tell you how much inventory is left at 743-740 support, I assume you mean resting buy orders right? What about non-resting buy orders though? What about...

Wait: nobody is arguing we are in a bear market and if you read my previous posts more carefully, I did state the economy is shit and the stimulus plan hasn't convinced anybody. However, I do believe the collapse we saw in Oct-Nov already discounted a lot of bad news. Of course, if bad...

I don't think it's correct to say most of us are bullish by nature. The market is bullish by nature, don't you think? Being a perma-bear means neglecting the bullish nature of the market. I think a good trader must be a bear in a bear market and a bull in a bull market. Right now we...

Yes, it does look ugly but what do you expect after what we've seen in Oct and Nov? Those were two brutal months for the markets, and it's gonna take a while before the wound can be healed. At least right now we aren't dropping like 8-10% at the time like a few months ago, this is already...

Great example. It's the market maker's job to push price in the direction of the heaviest volume. However, when we are trending up - like 2002-2007 - or trending now - like right now - it's harder to tell whether the stock is being pushed up and down to satisfy those purposes or because of...

Would you mind expanding on that with a real example if possible? Thanks.

I agree that without THEM we'd be better off changing jobs. Those FOOTPRINTS are critical for successful trading and I agree that T&S is the written proof of such prints as opposed to the DOM where orders can easily be pulled out. I've been following ES T&S for a few weeks with the hope to...