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I loved Boiler Room, not for the trading aspect (it's got nothing to do with trading at all really). I was a telesales team leader at the time it came out. I made every one watch it. Motivational stuff!

Man that chart you posted is a load of shit. "False Signal WAIT", "False Signal STAY LONG" How the f**k did you know it was going to be a "false signal"???? Have you heard of the term "false positive"? That's what your system is full of. That's why people here have been critical of...

That would go a long towards explaining that horrifying 90% losers "statistic" (the jury's out the accuracy of it, imo) Is your statement that "most daytraders have a very high percentage of winning trades" just an assumption, or have you actually investigated this and reached that...

Holy smokes! You're taking 3000 share positions in klac. That's pretty impressive. Do take them all at once? Given the time of those trades, there's quite a bit of liquidity, still, 3000 shares is NICE.

Faster's already said that this journal was just meant to be "light and fun". In that case, Pussy, expect to get a lot of criticism. Unless the whole 5% of successful day traders (or so the legend goes) are all here on ET, there are gonna be a lot people reading these journals that are...

I planned to allow myself to lose about $15k when I started. At the worst point I was down about $8k, but the first $5k I was down was the worst. I took a bit of a break there, regrouped, and proceeded to lose another $3k, but I felt much better about the way I lost the 3k than the 5k. After...

Yeah I do. (cool, someone actually reads my posts!) I make my comments in jest. Looking foward to seeing u in action. You might inspire me to do the same. (journal)

Sorry, I meant it more as a joke. It sounded to me like all you were saying is, "geez, developing a positive expectancy style is hard work.." Of course it is! I agree. Discussing things is a great idea. Don't let my comments dissuade you.

It's BECAUSE WE HAVE order books that people want to hide their orders.

I use targets. About 20-25% of the time, I'll hold on for a bit more (another 10-15cents in my case) If I don't don't get my price target the usual result is I get stopped out at my initial risk. Sometimes though, if the price is within say 5cents of my profit target but doesn't reach...

Okay, cool. "just the facts please miss". That can work. (warning: pussycat may be planning to front run customers) ok...as opposed to trading from what??

I doubt any serious trader out there hasn't read that book. Here's an idea. Why don't regulators make reading and explaining that book the requirement to trade at a prop firm, instead of that freakin BS series 7 rubbish.

thanks dude. that's exactly what I was looking for.

I'm not sure that the relationships are linear. ie, 1%stop/3% gain = 10%stop/30%gain. So much of that depends on the strategy you employ. Whether it's "wiser" to go for smaller gains, I think, largely depends on what you're comfortable with.

Nah, the free trial is a rip off. It's not worth it.

oh...this is good. :) will the pussycat's words come back to haunt him....

Yeah, that I agree with. Of course there are more opportunities to catch 3% moves than 30% moves. To give you a daytrading example, take a $50 stock, of course there's many more opportunities to make 10cents than to make $1. It doesn't mean it's "easier" to do though.

I've dabbled with overnight gaps before, but I couldn't find any consistant relationships I thought I could exploit. I still think there's some interesting potential there. I, for one, would be interested in reading your thoughts on it.

Does anyone have any info on how the test breaks down into the various topics?

Was that the whole point of your thread? Tell us something we don't know.