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I've been following this thread for a while and plan to try out some of the ideas. I will journal my progress here. http://www.elitetrader.com/vb/showthread.php?s=&postid=275866#post275866 All constructive comments are very welcome.

I trade most days, but not all. On days that I do it may be AM only, PM only - but seldom both. I welcome any constructive comments.

In addition, I will also take "rocket" trades. These trend following trades are described in detail here (http://www.elitetrader.com/vb/showthread.php?threadid=14129). My understanding/interpretation of them is as follows: enter if: - MACD(5,13,6) histogram > 0.4 (< -0.4) on a recent...

My plan for this journal is to continue trading the patterns described above, but to try to correct the problems 1-4. - To correct 1 & 4 ,I will trade off the 3 minute chart ONLY. - To correct 2 & 3 I need to distinguish between failed & sucessfull breakouts early. I will use low...

I mostly trade continuation & reversal patterns (triangles, flags, W, H&S) on the 1 & 3 minute charts: generally looking for 2-3 points profit per trade with stop of 1-2. The main problems that I've identified in my trading are: 1. Overtrading (not being selective enough about the trades I...

I've been trading ES intraday for a little over a year now. I have had occasional profitable months, but mostly the wrong side of break even! I'm hoping that the process of keeping a journal will help me, and that going public with my plan will help me stick to it. If anyone wants to...

as far as i know 24/5 - i.e. closes fri PM - opens again sun PM

I don't trade eurex & don't recall what my present (usa) broker charges. The point I was trying to make was that european brokers are unlikely to be cheaper for eurex JUST BECAUSE they're european. I may be wrong, but I think usa brokers are just more competitive - whether it's eurex or cme.

i doubt if you will find a european broker that can compete on price with usa brokers (i live in ireland)

What a great thread this is. Thanks to pawpaw for starting it and all those who have contributed. I must go and print out all the charts for a little bedtime reading tonight.

I am also suffering from this problem - especially recently. I usually play continuation patterns on 1&3 min charts - but recently the continuations have been few & far between. What I'm working on is this: 1. only play if there's a trend 2. get in to the break out on the first tick (using...

leverage: size of max. position relative to size of account min tick: min change in price of instrument (for ES it's 0.25 = $12.50) - don't remember what it is for NQ

I am not as negative about spread betting as many others seem to be. They vary a lot in the spreads they offer - but it is possible to trade top 100 UK shares for mkt spread with no additional spread added. Mid 250 UK shares are a different story. As for indices, they tend to anticipate the...

There's something to be said for a system that takes regular small losses. I find that if I've had a straight run of more than a handful of wins - I don't take the subsequent (inevitable) loss as quickly as I should. Sounds silly but I need to keep practicing taking small losses - otherwise...

qdz, I have been trading es for about a year & have seen nothing like this before. I also see nothing like this in historical charts. Are you sure about your comment - particularly regarding the size of this spike?

I assume you are using a uk spreadbetter. If you consistently make trades that he can't successfully hedge in the mkt, he will have to i) change his quoted prices to stop you; ii) delay your trades; iii) put them through a human dealer, or iv) close your account. If his price spikes are...

Other than as a visual indicator of activity (visual squawk box), i don't think it's of much use.

"summed up in 1 page" No. I'm sure a it could be made shorter - but there is still a lot of good stuff in it.

I didn't find the book to be that badly written - but certainly Farley's style is a little strange. Reading it feels more like listening to someone talk about trading, rather than reading a textbook - i.e. a little unstructured & repetitive. However, this didn't bother me too much, & I...

1. yes 2. with great difficulty After CGT allowance there is a system of tapering applied whereby you pay more tax on profits from short term holdings than those from long term. It's quite complex. The Inland Revenue have a web site (can't remember url) with full details - but it's written...