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Scary if your long with position trades and believe in contrarian indicators.

I agree db. I dumped the 1 and 2 minute charts They would get me in every bit of noise that looked like a setup and get me out on the 1st hiccup. If it doesn't setup on the 5 minute I don't want it. I think some of the appeal in the smallest timeframes was the small stop but...

It is a delemma. One must be very determined to succeed,have lots of patience and be extremely disciplined. One must also realize and respect events /situations which when they occur can break down discipline. Trading is different from many occupations where when a difficult job arises,the...

Extremely well written and accurate post!

Micheal : You are right. Believe it or not, I do think in points and only write in terms of points in my journal. For some reason when I'm discussing it with others I speak in dollars.Maybe there is some psychological flaw hiding...

Great thread Brandon! Excellent points on the technical and psychological aspects of trading. Something I have found is that when one has another income besides trading it makes following the rules much easier. Realizing it is a game where you must have an edge ,and then let...

Great quote d.b. Just shows with the correct knowledge,if one focuses on the process as opposed to the outcome success will follow. The evils: Lack of: Patience Discipline...

Sure, luck does play a part in becoming wealthy. But many people have had a "lucky opportunity" present itself and not take advantage of it because of : a.) not recognizing it...

A plan keeps one from getting into trouble. I have found that based on the dailys I have certain strategies that I am looking to use at certain times of the day. A true key to success, is being able to see moves that happened without fitting into ones strategies,and not being upset...

Great mindset D.B. Based on todays premkt futures gap up I decided to leave the house so I would not have a problem wanting to break/invent a rule for entry. I imagine an afternoon pullback would provide entry but the mkt would be attempting to travel beyond its daily range...

Prox, Great idea to define what conditions not to trade under. I find trading under any of those conditions makes it very difficult to stick to a well defined plan. I also find that if I have to leave before the mkt closes,somehow this is in the back of my mind and I am...

I guess I will hold my copy based on a sympathy play of the Crabel book then.:)

Slapshot ,great post My strategies are very similar to yours. I too found that I was cutting winners too short. Two keys I have found to eliminate myself from prematurely exiting a good trade: 1st : As long as my strategies are viable and I adapt to the type...

Allen: I agree that as an intraday player we are sometimes missing larger moves which extend over a few days but... a.) Playing intraday I can trade a position size I would not dream to carry overnite. b.) Sure, in a strong trending mkt that has gaps in the...

Anyone have experience with how long it takes broker to get back to you that the trade was busted?

agree with you 100% db

DB I did expect a range expansion based on a/d and tick readings but stuck with my original exit plan. All the monster tick and a/d readings and the mkt gave it almost all back.It always amazes me. I'm not good at stopping and reversing. It led to many problems in...

Good point db but I feel the dailys make longs higher probability trades. I'm definitely contradicting myself though, because on down days I'm always looking for reversals

10:50 5 min low of 827.5 was broken. Based on mkt internals looks like we go much higher,but I have noticed usually max SPX runs is 15 points .

well based on usually a spike like that usually will not hold,closed long @827.75 entry 822.