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Definitely. FOMC can give some wild swings but there was an orderly reversal last one I remembered...the esignal data service crapped out... couldn't handle all the ticks (before CME changed the ticks). Today is just a straight moon shot. I don't really use Fibonacci, but I am surprised...

Wow, none of my stuff would have worked. All implied volatility band levels were blown to ashes. Don't fight the trend. If you touch "it" twice, you are playing with it.

Sorry, I read the Chinese translations. I like reading about a few speculators at their golden age and appreciate their wider perspective in things. I have too much of a tunnel vision.

I was way too anxious with my entry by focusing too much on the lower time frame otherwise the last trade would have worked out. I try to scalp when several of my support/resistance lines up, often there is a reaction when "done" right. Whether it is running stops or trending, who knows...

Looks like I might have bailed too early on this one. Oh well, welcome to my pizzaria!

Short at 1257.25 stopped out at 1258.25. Done for the day.

I am not a good trend trader... not enough patience... too worried about drawdowns. Maybe next lifetime :(

Looks like it is trending. I am gonna have to wait a long time...

Buy at 1258 Sold at 1260. +2 I got in a little early... too anxious but it still worked out luckily. I would say any one trade is luck... I just saw it comes right back.

I am starting a "newbie" journal for 2006 because I found myself often closing the shop too early and also I don't want things to get "moldy". I know I am NOT good enough to handle a real time journal so all posts will be done at the end of the day. I will report my results using a...

I know this is old... it also helps to keep perspective that it is only 1 out of maybe 600 trades for the year.

I trade ES reversals intraday which means I can really screw myself up for fighting trend. I use TradeStation and click for trade analysis to see if I am killing my edge. When I am trading poorly or if the market seems to trend for the day, I would use "one-losing-trade" stop for the day...

I would not have opinion one way or another (I think the options volatility was back to normal). I found when I was long SPY (exited profitably) as a position trade last week. It affected my ES intraday trading. I wasn't able to capitalize on some of the intraday moves. I concluded that I am...

"Do the hard thing!" (It works more often than not.)

The chapters are also in PDF format here: http://www.trading-naked.com/Articles_and_Reprints.htm

Well... that is part of "You got to know what you are doing." "Accepting the risk" is more of the mental side of trading to me.

Reminiscences of a Stock Operator Jesse Livermore World's Greatest Stock Trader by Richard Smitten Market Wizards 1 & 2 & maybe Stock Market Wizards Pit Bull by Marty Schwartz I think it comes down to this: 1) You got to know what you are doing. 2) Once you are in the trade, you got...

Got the idea from someone I respected to play the year end mark up, bought a bunch of SPY last week. Read Jesse Livermore's biography over the weekend... He said tips come in all sizes and shapes. Saw the options volatility was very low. Sold half pre-market and half when the juice seems...

I also read a little bit of no pm thread although I don't trade his method (I used to trade a very similar setup but get out at the moving average). I was limiting to very few trades each day to avoid the trend day problem but it was his idea of stopping at the first losing trade that made it...

But that is like saying the CTO from my old company can code... :confused: