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Nihabashi, That post and chart was worth starting this thread... great points.. my method for trading white hammers?? if my stochastics is oversold.. and clear white hammer is formed.. like the one earlier today.. I try to buy within the body of the hammer.. usually at least 2...

Natalie, I understand what you are saying.. Its hard for me to put on a trade once I feel Its moved a good bit. because it seems to correct most of the time then continuing.. so I try to wait for the correction can you give me an example of yesterday's 7/31/03 2 moves down where you...

When I notice the market is trending its too late to get in.. the market has already moved a good bit.. many time its due to me missing the beginning of the move like I did yesterday in the chart I posted.. And then the market has moved a good bit and its too late to get in..

Also want to point out.. That I occasionally trade currencies.. and only enter on pullback to the 20 EMA.. and these trades usually work out great.. mainly due to the currencies trending the way they do...

Okay.. so how.. how do you trade with the trend.. once you realize its trending for me its usually too late.. Do you mean.. trade continuation patterns.. flags, pennants, pullbacks??? How do you enter with these type of trades

So how do you know when to start trading again??

Dbp, I don't think its a high probability occurence.. and am not planning on trading it... was just curious what others think.. I like to get other oppinions on things.. others see things I don't see.. I would trade that type of trade on the following conditions: The 30 min. trend...

168, would you sell prior to the breaking of the channel or would you wait for it to break out?

Just curious as to what you guys think of this formation. 5 min. chart of Emini.. bear flag forming.. 30 min. chart very oversold.. the price is currently at 980.00 and there is fairly strong support at 975.00.. Would you place a sell stop below this channel at the 977.50 area???

Dbp.. I have a few setups.. but you're right.. I do like the reversals.. and its not a good idea to try and play them off of a 5 minute chart when the trend is clearly down.. I need to be much more selective in my trading.. hence the purpose of this journal.. you guys are confirming...

sorry.. the quote thing worked that time.. I figured it out.. I guess you can't edit it.. when you do it doesn't put it in bold.

First of all.. how do you guys get the quote from a previous post in bold.. I hit the quote button on bottom right of screen and get whats above.. I agree.. and after I got stopped out.. sat back and thought.. why was I so quick to jump on a trade against a strong developing 30 min...

Peter, I didn't base it off a 1m chart.. I based it off the hammer on the 5 min. chart and placed the stop right below the bottom of the hammer.. I"m not sure I see the hammer you're referring to on the 1m chart..

Bought at 985.00.. 9:53 am stop 981.50

rttrader, Do you know some full time traders in the New Olreans area?

Been wondering myself.. looked in yellow pages .. nothing.. but not sure a prop firm would place ad there. There is a firm on the Northshore.. can't remember the guys name or exactly what they do.. but they do something with the markets.. If I find it I'll post it..

Not a great profitability wise.. but psychologically very nice day. I kept myself detached from the market .. was very patient.. when the 10:00 craziness started I knew I wasn't going to take a trade for quite a while.. until the dust settled..

Today's results.. total of 1.75 points.. Net profit of $71.50.. only trading one contract.. missed two great trades.. entered a limit order and market took off both times.. see chart attached..

Out at 1002.75..at 14:21 Doesn't seem to want to go anywhere.. Scratch trade.. loss commission

Bought ES at 1002.75 at 14:03