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By the way, when I say "points", what I'm referring to is "per contract". My belief is that you should start with one, not multiple contracts until your learning curve goes up. I'd look at your account monthly....at least that's what I do. As the month progresses and assuming you're...

The idea that 2-3 points daily makes you legendary is something I've read here....but I don't happen to agree with it. I think that bar is awfully low. Another standard is Linda Raschke (sp?). I read an interview in which she stated that her goal was to make the range every day. So if the...

That's alot of risk just to get 2-3 points if you ask me! Part of the problem is that systems of this type cause you to buy on strength, sell on weakness. By the time a 30 minute chart has crossed the moving average, it's left alot of the table, both when you got in, and when you got out...

I think it's hard to make big money without having an "opinion". I almost always have an opinion about the market. Right now I'm bearish....I've been bearish since late August. Here's what that means to me. I'm actively looking for opportunities to get short. I'm looking for failures on...

Forgot one thing. Just make sure when you're posting that you don't create the impression that you have actual experience until you do. I don't think you do by the way, but it's an important point in my opinion. You wouldn't want to misguide anyone that didn't know. OldTrader

If I were you I would continue to post. First, your participation DOES benefit ALL, even if the original poster in this thread is shortsighted enough not to see it. For instance, I believe you started a couple of threads that ended up with traders giving opinions as to the benefit/or lack...

I hadn't intended to reply to this post. It stands on it's own. But I see you're taking a few shots here from Daniel, who has directed his post to newbies. So I thought I would just say that I thought your post was excellent. You use many of the same "indicators" as I do, and have for years...

Nope...completely opposite point. I hope your trading skills exceed your reading skills...."dude". OldTrader

I think you're absolutely wrong in this statement. With this statement what you're really saying is that we can't know anything by any other method than "trying it". Son, it's going to be a long, tough life with that particular philosophy. This sounds like a feel good, evenhanded approach...

If everyone that uses those "indicators" is making money, then you're right, it doesn't matter. But here's my guess: most of the people using these indicators are losing. Someone mentioned Linda Radke (sp?). I have alot of respect for her reputation. I hear she's good. And I'm told she...

Never particularly used the technique.....but one thing I have done for years is to watch for stocks that go down for instance on up days, and vice versa. This can help lead you to some of the early leaders of the next move. For instance, in the fall of last year following the 9/11...

Let's face it...if you could determine when a market was going to chop around for a few hours, then it's obvious that the REST of the time it would be trending. So if you could determine chop, wouldn't it be more profitable to trade the trend anyway? That is, after the chop period ended...

First, not sure how you figured I was "reading the time/sales". There is a time and sales window that some software packages offer. I think it's useful, but I don't happen to use it....drives me crazy. Usually I stick with a position as long as it's doing what I expected it to do. When it...

LOL! Ask them! Not me. Gives me a headache!

One other thing: The market ALWAYS tips it's hand before it makes a move of any consequence. It's your job to have your mind in condition to be able to see the clues that will be presented to you, and then have the boldness to act on them. You want your mind to be clear of preconceived...

You probably already know where I stand on this issue...but I'll restate it anyway. I'm not a believer in indicators of the type that come on the software programs....ie. MACD, stochastics, etc etc. Frankly, I'm not much of a believer in intraday charts either. The problem with indicators...

Illiquid: Couldn't agree with you more. Once you know how the pattern is supposed to work, you then know when it fails. Man, a failed head and shoulders can be gangbusters! OldTrader

Nitro: Nice post. I agree with you. OldTrader.

Always painful to wipe out weeks of profits with one trade. You know you violated all the rules, you can't believe you did it. It's as if the devil was let loose inside you. Know what's worse? When you do the very same thing....AGAIN. I've made ALL of my mistakes more than once. LOL...

Here's how I viewed today: I came in bearish. But that feeling is tempered by the fact that we're already down two days, this would be the third. And we're a long way from the peak on 9/11. We're gapping lower on the HON news. Michigan number out just after we open...this can move the...