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The one thing that really irritates me has just happened. If you have read this journal you know I enter on the retest to the breakout point on the dow cash. I use the cash because by the time the cash fills usually the future over shoots. thats how I avoid slippage and almost guarantee a fill...

I'm happy you enjoy the journal that is my intention. Any way I would like to clarify something very important about volume. This is a main reason most non professionals fail. Volume is not the little bars that say volume on the bottom of the chart. volume is not an obv oscillator or money flow...

did not take that trade. Its a bummer for me. but what can you do. i do a lot of work with intrest rates and the rates market closes at 3pm so i cant trade without them in the last hour of the equtiy session.

heres why you don't strictly day trade in a bull market. 80 pt objective met.

see the chart titled 12.2.2007 posted yesterday. The 546 line is right there. Its important becasue you broke with price spread, with voulume, and retested with weak volume.

On yesterdays setup you broke to the downside at 562. Then after that you broke upside 546. The most recent break is of 546. You trade the long side upon a satisfactory retest of 546. You are Johnny on the spot the moment price hits 562 seeing if bears are going to make a stand at that level...

You must give benefit of the doubt to the most recent break. And then really watch your volumes at the point of the previous break out.

The sad thing is had I taken the trade. Its already at 620 before the open. I think its likely during the session and 80 pt objective from 575 will be hit. But would of, could of, should of don't exist and the rules are the rules.

The pull back to the 12,545 range would have signaled the entry. It actually would have been 12,546 on the cash but the real concern is with the future and that would have 12,572

I only enter once on the pull back becasue its very important to comapre the volumes.

Enter on limit when price hits the horizontal line I drew. 1. Break of key swing on volume 2. Retest to breakout point on low volume (enter on limit)

Some people will probably think I'm a real nut job for this post. I agree I probably am. I've been trading to long. In my opinion I think this is the key to success a Winning attitude. You can read all the books that exist on MACD, RSI, bollinger bands, 3/3 DMA, fib numbers, 200 sma, 20 ema, or...

I also just thought of something I should of said in the past posts. Professionals at instituitions who trade emerging Euro markets have had the same problem as you almost. Excessive volatility at certain points. A new smoothed market index was created a while back by stoxx. It called EU...

This thread is about Central European currecny direction in the long term (1year). I have a very serious question to ask. I don't speculate in leveraged currency but I do swap at my bank my savings account from one currency to another when something looks real good and has a long term...

Now that this thread took on a Central European direction. I have a very serious question to ask. I don't speculate in leveraged currency but I do swap at my bank my savings account from one currency to another when something looks real good and has a long term perspective. I'm short the dollar...

If you want to trade the Czech market here are some useful websites. The first one will tell you some details about the actual future contract (PX). Its the offical exchange website. The second one is a brokers portal for non customers. www.pse.cz/dokument.aspx?k=Futures-en...

The setup would of resulted in a small profit. But, I'm still happy I didn't enter all in all it seems its not worth it to enter in the last hour for my setups.

Here was another one of my setups. This one would have been a full go but one thing told me no. I don't ever enter in the last hour of the official session. My research had showed in the past a very large percentage of my stop outs had occurred in last hour entries. So I just avoid them fully now.

Thats very interesting both your approach and the markets you trade. See my thread its called the YM journal. I usually hold up to three days. I live in one of those central european countries. I live in Prague the Czech Rep. I tried for a long time to build a system to trade to PX (the Prague...

If you approach this as a business you should of never had a really bad situation. You would have had your stop in place. If the market gapped big time through your stop thats different. If that happened i feel for you. Thats why I don't like holding shares. When you are dealing in shares your...