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this could not be better stated. if you take some logic courses, you run into this all the time. one is necessary and sufficient for another to happen, but the inverse is not always true. sure, all the big breakouts are gonna have their ma's crossing (ma's are just a picture of what...

i don't understand, did the intraday swings all of a sudden become too large? how much simulation/paper-trading did you do on this strategy before you implemented it?

you mean to tell us that you lost tons of money because of the SEC? are you serious?

closed 103.72.... see ya all tomorrow ;)

i'm still working on how to close my position out at the end of the day....sometimes the day is like this, where the 9:45 pivot holds and then trends all the way to the close. since i usually wait for a stop to trigger, the only thing i've been doing is just closing at 3:59pm. any...

adjusted to 103.58 (7 cents from floor pivot that held first pullback)

no problem...it was a boring day today for my strategy. notice how 7 cents from pivot on SPY is a great place to put stops. the stop at 103.58 (7 cents from 103.65) held perfectly.

jd, you don't have to know where the market is going. all you need to know is where to put a position on. its just from experience and being observant. put your work in, watch the markets, and you will understand what happened today so far. my criteria is simple. i find a floor pivot...

stop moved to 103.60

SPY stop moved to 103.50, just under the pivot at 103.54. bias should be to upside today, should capture that upper range.

well yom kippur it for me!

yeah its pathetic , eh? :) i went long at the 9:45 pivot and i'm still waiting.......

it's 1pm....price has just retested and is looking to test again the high of the day....how do you think floor traders make money? they move the market....so......you think they aren't gonna see if it breaks out? its certainly a low risk play to them....unless there is a program sell they own...

being that it's the early afternoon (~1pm) i would say if you chose to short there, then your stop would have to be quite larger than usual. its almost a guarantee that the floor guys are gonna run it up to see if it breaks out.

i don't know how to take the day off!!!!! :)

well said.

see, now i need that when i'm playing combat flight simulator 2 so i can see who is shooting me down :)

i hear ya v..... what am i doing? i got the tunes on, talking to my guitar player about our recordings and shows (shameless plug: www.mercyshot.com). got an herb garden growing (another little project), and i'm making charts and graphs of my trading. analyzing my execution accuracy...

its interesting....i've spent about 5 or 6 years in the engineering business and only about a year in the trading business. i've already made more friends in trading than i ever have in engineering. i find traders to be some of the most interesting and friendly people on this earth...

beautifully said jai..... those who take the time to properly educate themselves on a daily basis will no doubt be the ones who will adapt.