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I have to agree with the premise of the thread originator. *IF* you are making great returns without great risk, then I highly suggest you guard your secrets very carefully. When you work 5-10 years to get profitable, and then you really hit your stride, you don't want to take any risks. You...

Thanks Anthony. You have some good (thought provoking) points!

This is very good. I think people who can be completely honest with themselves have a huge advantage,and not many people can get past their ego, or what other's may think of them if they are not conforming to various norms. We are all terribly, terribly fallible. Given this presumption, the...

I think that there is a price to becoming an exceptional speculator. That price in my experience has been: 1. Social Ostracism (you have to be sort of a maverick in my opinion, and very independent and a loner, and given humanity's socialistic/communal tendencies, this leads to problems)...

I think finding a mentor will raise your odds of success by a great deal. It's an odds game, so look for what improves your chances of survival. I think you are off to a good start and there are some good suggestions here for you. I would say the comments about introspection and self-diagnostics...

I think if 5.85 is hit, odds are we will at the least retest recent lows, and very possible of a new low. The previous downtrend has been stopped and it looks like we are in congestion here. Not sure if this thing is going to start a new uptrend, I think it's more likely to range for awhile...

The employment report was not very strong at all today, and the market now seems to think that rates may not be cut until 2005. Hence the strength in the bonds. Goodluck,

Rowen my technical model shows CRXA a buy in this 6.00 area, stop and reverse at 5.85 for a new downtrend if hit. I show a near-term range developing and this looks like the bottom of it. If it hits stop then odds are a new downtrend is starting and look out below. No position in it here, but...

I'm seeing where tommorow is an extremely pivotal day for the next 2 weeks or so on the nasdaq from a technical standpoint. If the QQQ's break below 36.30 I think we see the start of a downtrend in the nasdaq 100 on a daily chart basis. I imagine it will be the key to whether the s&p gets...

One thing to keep in mind is that blocks are can be either posted to the tape late (one hedge/insti selling to another(s) off-exchange), or the specialist/mm has been working the stock to accumlate or distribute the shares in order to meet that block BEFORE it is transacted. Especially now with...

Gary great post, thanks for joining in. I now see the real context of your original post, and it is a drastically different light than it was cast here prior to your comments. I definitely agree with you that people selling systems have to be viewed with a huge amount of skepticism. It makes...

This smith guy sounds like he might have made it trading-wise and decided it was "his way or the highway" as far as strategy and tactics. He probably either tried daytrading futures and failed (a highly competetive instrument), or he knows a few people who didn't make it. So he decides the only...

What I really don't understand is why people get so emotional over James picking a top? By all means, post your analysis and opinion (trend is up, etc...), but why the attacks on the other thread? Is this place turning into a yahoo message board chalk full of blind zealots both bull and bear...

This is how I look at it: Wall Street Journal vs. IBD = CNBC vs. bloomberg. I find alot more traders on or off floor seem to watch cnbc. In my opinion, cnbc is as close to worthless as possible for a financial news channel. If you want a serious show, go with bloomberg. I find that...

Guys, I think alot of people here (including myself) have not experienced a true "crash" live. I just look at october 87 historical charts in sheer horror. I think we are seeing alot of similarities between 87 and now, but there are quite a few differences also. It's very tough to call a...

I like ES, NQ, ZN, and YM for daytrading futures. I mostly stick with stocks but futures can offer some nice intra-day opportunities. All are quite liquid, however YM does not have the one-tick spreads you'll often find in the other 3. Also if I have a bout of insomnia (which happens quite...

This is what I mean by rumor. You're speculating against speculation in a take-over stock over a weekend.... Not necessarily guaranteed losses but not the best odds in my opinion. Nonethless if 50,000$ is no big deal (although I consider losing a months earnings on 1 trade a big deal), then so...

Honestly you are playing with fire regarding AWE, and if you don't get burnt on this, there will be another gamble that will take you down. There is simply NO reason to take so much apparent risk against the tape and against the rumor. You are asking for total annihilation. I hope you make it...

Damn CBOE den of thieves! Always trying to steal my money on both sides of the trade! I can't wait for BOX to destroy them! There.. happy vega? :) :) :) Goodluck,

Pabst what if everyone you talk to is a pro? Great minds think alike :). I for one as a trend follower will wait for the first plunge and reaction before getting to excited bearish-wise. Goodluck,