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Just used the DMI cross for the confirmation. See the double top, then the trend down? I looked for the small retrace in Price Action, thats where my second line was drawn at. Only entered once that line was broken and confirmed with the DMI cross. Just a tool, nothing more.

Here is an example from my trade today using a DMI Cross for confirmation for an entry. My Exit was by a 261% fib line (not shown).

Have not updated in a while... Been trading instead of posting. I have switch over to Commodities for a while.

July / Nov Bean spread... ( Hit +160 Spread last week) Unfortunately the time to safely trade this has passed. Planning ahead to start the trade for this in December (09) when the spread is back down in the neg range again.

Don't forget the massive rise in Soybeans in the past 90 days. (caution now...seasonal decline is coming soon)

http://www.cmegroup.com/trading/commodities/grain-and-oilseed/wheat_product_calendar.html

Saw this today... Chrysler upgrades buyout offers for Fenton workers St. Louis Business Journal - by Kelsey Volkmann Chrysler said Monday it upgraded its buyout offers for workers at the plants the automaker plans to close — including in Fenton — as part of its bankruptcy...

All been posted before.. http://sports.espn.go.com/mlb/news/story?id=4084962 What a scumbag....

You should use a bounce off of SMA 200 as trigger for your Swing entries on a Daily chart. This should help out on those opening gaps. For shorter timeframes, like daytrade...use price action. H/L. Stay away from SMALL volume stocks. Stay with qqqq's, spy, etc.

Price action coupled with DMI. Use price action as primary indicator, confirming with the DMI. (DMI+ and DMI- lines cross along with the ADX line being below 25%, flat or rising upward as a trigger).

I started by trading USO Options for a while. Right now I am trading swings in the Futures market. Looking for a swinging pattern on the intra-day charts. Working fine on a limited trial for now. One or two trades a day max. (cautious).

I picked up a couple USO Jan 2011 (OTJAO.X) 15 Calls last month. Going to sit on them as a speculative play, or sell some calls off of them mid summer.

I do this from time to time, with about a 80% success rate on keeping the credit spread premium. Other 20% closed out at breakeven price. It was mentioned to NOT go for cheap options. I mainly looked at GOOGLE, BIDU, or any other stock in that price catagory. Opened the spread with about 10...

If you are truely a "Starter Investor", selling options the way you mentioned is NOT THE RIGHT MOVE! It will kill you account very fast. All you will do is pay commissions, that will not keep up with your profits. Take it slow. If this was driving a car, why would you want to start in a...

Interesting. I looked at USO, examining the Gap Opening, which it usually does at the open.

Had another day that I missed the opening, so I waited for the rebound off the lows set by the chart pattern. Followed some of the same patterns again.

You can look at individual option charts on pretty near any time frame on Optionxpress's Flexcharts.

Why on earth would you want to get into "Illiquid" options. It defeats the purpose of investing / trading. You need liquidity to be able to get rid of them when you want to take out your profits..if any.

Had a meeting this morning so I did not get to open up my trading platform until after the A B C pattern had already formed, or I would have bought the 22 calls at the open. I took the direction that it would reverse after it hit the Fib extentions. Bought the put @ .90, sold them back @ 1.35...