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I only know one Japanese trader of that dimension: Takeshi Kotegawa, nicknamed B-N-F (Japanese pronunciation for Victor Niederhoffer), or simply J-Com man for his coup in J-Com stocks. His starting capital was around $14,000 and turned it into roughly $150 million in 8 years time. With that...

It is my observation that people attract other people of the same kind. Traders who are not successful tend to attract more comments and bashing because it is easier to give advice to an unsuccessful trader than to someone who has a proven method and showing continued success. You will also see...

Hm, good question. Support/resistance is an area that is visibly standing out in a chart because price has touched it several times. You might notice that price has always ranged 20-30 points while at the same time hitting a visible horizontal area. Once that broke, a trend reversal was usually...

gibdi0n, I know this behavior too well. I've been chasing the market up and down with day trading but it did not suit my personality. Furthermore, it helps to look at the trend pattern in the bigger perspective. There are always strong moves during a trend, but what really counts is whether an...

I'm sorry to say that there has been not a single book (or any other material) which helped me in my trading, and I didn't read just a few. As I kept saying in my previous posts, the most significant breakthrough was making plain printouts of price action in the 1H ES chart spanning through...

It is discretionary; no question about it. But my current performance gives the backtest some credibility, as it appears to be a continuation of the backtested result.

Here is an updated performance chart for my trading since initiation of this journal. I do regret having tried the last short which turned out to be a mere pullback in the new bullish trend we are in. Now I am missing out on this major move. Trading is something I want to seek perfection in. But...

Very nice performance! Although highly leveraged, you seem to be in positions for several days without flipping around. This year you are getting it right. Care to share your method and entries in each market?

Good content, morganist. I will read through it in a quiet moment. Why is it that you don't register your own domain name? Also I don't find anything about your background on the site, or am I missing something? It would definitely benefit your credibility.

If my performance is of any relevance, I made around 300 ES points in four months time with a very consistent trend following strategy. That's 75 points per month on average.

I'm having trouble logging into my account with mobileTWS since at least half an hour. WebTrader and TWS works, but mobileTWS wouldn't login. Error message: "Unable to communicate with server. Please verify that you have internet access and try again." Any news?

+1 No seriously, wats0210, do this. Take your time. Rushing into trades for the thrill of it will result in losses anyway. You'd have to recover from them first to claim you are overall profitable. So keep your losses tiny while figuring out a strategy.

Indeed. The "elite" in EliteTrader just serves marketing purpose. It is a nice name, but the administrators fail to encourage its members to live up to it. I have yet to experience the elite in here. The entire layout and bulletin board concept is outdated. Very hard to find quality content.

This is still the most sensible thing to do, once the trader comprehends price action. He wouldn't need to sit in front of the screen around the clock, but set alerts or orders to trigger automatically.

You point out a valid challenge in automation, masterm1ne. I've also programmed in PHP using OOP, but have yet to learn the dominant languages used for trading systems. Programming is about describing objects or scenarios. The intellectually thrilling part is putting your perception into very...

Yes, trading futures is just too disastrous in the day trading time frame. Too much emotion involved. All this nonsensical conventional belief of overnight risk or monstrous gaps lures many into wrong mindsets. Maybe my journal can broaden your perspective...

This is the most sensible indicator I have seen so far. The focus of an aspiring trend trader really should be about recognizing trend patterns and learning to distinguish short-term bounces from real rallies. Your indicator definitely assists you in accomplishing this task.

I don't see 1300 as any relevant resistance to enter a long position for. But you are generally correct that the current trend continues to be bullish.

The way I trade involves a lot of visual interpretation which might not be easily coded. My understanding is that you need rigid and systematic rules to automate it. If you put my method of detecting support and resistance aside, I believe there is a high chance that you can code a trend...

Do you know of a good provider which offers intraday data of several years in the past? Something that is cost-effective :p I used the expired contracts still available in Interactive Brokers, but they don't date back infinitely. I remember eSignal does not offer sufficient historical data either.