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Interesting. What's your definition of a "big run"? Do you get out at the end of the day? OldTrader

Girlpower: I used to use point and figure charts years ago, mainly on the daily charts. Don't use them now though....does your software provide this or do you do it by hand from the bar charts? I think you've got a good technique....especially if you're buying setbacks against the main...

My method for getting out is a kind of combination of the two techniques that you mention. I am primarily a chart based trader, meaning I don't use indicators like stochastics, MACD, moving averages, etc. I use the chart itself. Therefore my entry into the trade is based on some type of...

Good for you! Those are some decent profits...and all you had to do was sit. And that's my entire point. Now here's a confession: I've had the problem myself in the past. It's a common trader problem...we all have to battle it. Probably my biggest objection to the one minute chart and...

My "persistent denigration of indicators" should do little more I suppose than tickle you pink! Think of it, without the benefit of those indicators you may take complete advantage of me!! Actually, I don't feel like I need them. Take overbought/oversold indicators for example. And in the...

I notice this is a chart of the NQ rather than the ES. You are trading the ES, right? I put the 5, 20, 60, and 220 avg on a 1 minute chart. Ouch!!!!! That would confuse me so much I wouldn't know what to do! OldTrader

Daniel: My compliments on a couple of fine posts. OldTrader

Let me just say that answering this question is not really fair since it has the benefit of 20/20 hindsight. Having said this, I did happen to be long, so here's the process I went through: 1) I want to get out before the weekend (sometimes I will carry positions overnight, but usually not...

Are you trying to learn how to trade? What type of method/system do you use? OldTrader

I'm sorry that your day didn't turn out well...I feel somewhat responsible for that. I feel that perhaps I took you off your course. Maybe I shouldn't be commenting at all...my methods are quite a bit different than yours. But I felt hopeful for you today because of the first trade you...

I use daily bar charts. I look at some of the moving averages on the daily bar chart, like the 10, 20, 50, and 200 day averages. I look at where the important trendlines are, and support and resistance. I look at the volumn characteristics. I follow all of the important stocks like IBM...

Do some reading of my prior posts....they set out how I trade. I don't have a "special" definition of technical. I just don't use the prepackaged indicators that all of the newbies use. OldTrader

Perhaps you should do a little reading around this site, starting with the post right below yours by Dottom. I'm sure you'll find many references to 2 points. I've also seen references to 1 point. But if that's not what you're talking about then why don't you simply STATE what you're...

I guess the point you're attempting to sell to us is that Dennis would not have traded his particular method had Globex trading simply been available. I say "sell" because I don't think you know this at all. Huge volume has been traded in the bond market for example for quite some...

And your evidence for this statement? What does anyone's personality have to do with an effective trading strategy? Are you sure this isn't more of that new age gobbledegook? OldTrader

I don't think you'll find anything within my two posts that suggests "sitting" with a loser. But you'll find nothing either that suggests getting into a trade that starts working immediately, and leaping out not because the market did something to suggest that you should, but because you made...

You guys have been busy with this posting thing today! I gather none of you are scalping? Let me see if I can clarify a few points. First, I spent some time years ago as a local on one the floors. I can tell you that I was a very active scalper at that time. I can also tell you that...

Johnny can't trade because Johnny mistakenly thinks he/she can scalp 1-2 points on a trade successfully. There might be someone who can do it....but most can't. 1-2 points is random noise in today's SP market. Further, it's hard to set a loss that would be even smaller than your...

A few comments: I see you made an early morning trade on the short side, on which you took a quick loss. Smart trade. Here's what I don't understand. In the next 45 minutes approximately we moved around 27 points higher, during which you made no trades at all. During that upmove we made...

This doesn't really apply to me since I don't day trade stocks. BUT, my understanding is that daytrade margin is basically 4:1, but that 10 minutes before the close they bring the margin into line with overnight margin requirements which are 2:1, not 4:1. What's the problem with this...