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The human soul has three fatal weaknesses: money, sex and power. They all inflate our egos and prop up our insecure, fallen selves. Of these, the one Jesus taught most about in the Bible was money. The fear of losing it (or of not winning it) is what drives most traders out there. As the OP...

Psychologically, it helps me to think that the market's only job is to fake me out, lead me down the garden path, and separate me from my money. It is my job to stay strong, focused and disciplined and beat it at its own game. Douglas' book "Trading in the Zone" says don't develop an...

The holy grail being work and persistence?

And increasenow's brother.

Sitting back and watching the market for pure entertainment value ....

Your real-time quote screen :)

Speaking of which, I haven't seen increasenow in a few days.

That works ... except on the days when it doesn't work. Sometimes, you go to fade a move only to get steamrollered. The trick is (IMHO) learning to read the market action to assess the level of choppiness vs. trend strength. The last 4 days have basically been a random walk. I have an ATS...

Look at the chart of the premarket hours (say, a 1 min chart covering 4 hours). Whether it's random chop or well-defined trends, you're most likely going to get the same going into the rest of the day.

Same parameters? I.E. 40 pt stop and 8 pt target? Or 40 x 8 TICKS (since ER2 ticks are 0.1 pt)? Once your stop or target has been hit, how do you know when to get into the next trade? (I understand if you don't want to reveal the full inner workings of your system). I am testing a similar...

I agree that reward is always proportional to risk, both in terms of position size and reward expectancy. What risk:reward ratio do you suggest (as far as stop size vs. limit size)?

I used to try and be clever by trading reversals, overnight no less. Pick whichever stock mad moved the most in a day, then bet on an overnight gap in the opposite direction. SYX was down 21% in one day (in '06), so I bought a whole bunch of it at EOD. Next morning it gapped down a further...

I concur. 90% of the time, it moves in such a way as to fake people out, take out their stops and then reverse. It is one tricky mofo. Kudos to anyone who can come out profitable at the end of the day, whatever techniques they use.

TA or T&A? BIG difference!

As an aside, when does trading become scalping? Is there any fixed definition, based on timeframe or profit target?

I love daytarding. Being tardy for an entire day, and still being paid for it!

If Microsoft made a trading program ...

That is like asking whether people prefer to 'eat' or 'drink'. Get a brain.

YM = 11588 @ 10:30. Now it's REALLY time to average down :eek: