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trade3

Trade2

Just using this so I don't have to post 7 times on another thread.

I've noticed there seems to be some sort of a new fad going around these days. More and more, I'm hearing about these scalping systems that risk 2.5 points or so, to make 1. I think one of the reasons this new fad is so popular is due to the low value of the ES. The logic is, well...

Not a problem...just trying to give back a little. I've learned a hell of a lot on this board over the last year. :D

4 ticks on the ES...sometimes I'll go crazy and risk 5...hehe Raise/lower it to BE as soon as possible.

Not saying the trader types here on elite don't know what the hell they're talking about...hehe (just kidding) But, when I'm having puter problems, I usually get good advice from this site.

Thanks...:D

To me, an indicator such as a moving average or oscillator helps me to see what I may be missing by watching price alone. The only analogy I can think of is this: Think of price as a human heartbeat. When you're in the hospital, sometimes the doctor needs to know more about your heartbeat...

Could be...although, I remember in the book he was very keen on the 10 period ema. He even took the time to show the readers how to calculate it. And, I definitely agree with you that, one doesn't necessarily have to use indicators to be a technician.

In his book...Pit Bull--lessons from Wall Streets Champion Trader. He talks about using moving averages and something he called "The magic T". Plus, he gives details on several outside sources he subscribes to, that provide charts with different indicators. And, it seems like, if I remember...

Thanks RAMOUTAR...glad you liked it. I would like to add one more comment about the 3-1 thing. I might have confused some by saying "If I risk $100 and the market gives me $300, I'll take it" and then saying "My average loss is 2 ticks, so I try to make 7 or 8 ticks profit." What I'm...

That's what I heard, too. So, if you like to trade the pivot and it's associated support and resistance levels, sounds like the bonds make a good trading vehicle.

Oh yea, that reminds me. Go to Dr. Tharps site and download the "Free Simulation Game Download". The games all about risk/reward. Have fun!

OOPS...forgot the chart.

LOL...that reminds me of something Marty Schwartz (Market Wizard) said. He was trying to buy this penthouse apartment in New York. The place was like a million dollars, and he was gonna pay that cash, but the deal was, residents still had to pay something like $2000 a month for...

This guy's (NQoo) looking for 8000...hehe