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No trades today. Actually I woke up this morning feeling like I had a bad cold. Watched the market for 45 minutes, then slept till 1:00 EST. I briefly considered a long entry off the secondary support area around 2:30ish, but passed on it because I would have liked to have seen a stochastic...

DraXon, You're doing very well. I like your simple-but-effective approach to trading ES. Looks like you just use support and resistance along with trailing stops, and it works for you. Congratulations.

Brandon, I fully agree with the above quote. Thanks for posting here.

I should also add that they are not designed for managing multiple positions, at least not yet.

I trade with IB and I have used both the Autotrader and Bracket Trader applications. Both are very good. What these programs do is to send out both stoploss and target orders as soon as you enter into a position. I prefer the Bracket Trader app b/c it has more features. However, it is a work...

Futures began the session with a down move of about 3 pts. At 9:47 there was a 5m PSAR cross that indicated a long position at 930. This was confirmed by 5m SST (OS) and MACDh (crossed the zero line). Got as high as 937 w/in 30 minutes. The existing home sales number at 10:00 contributed...

Actually I do not yet own the book. I only read an interview that Innerworth.com conducted with him. Innerworth.com is a subscription-based trader psychology web site, and their content is copyrighted, so I am not sure if I would be allowed to post specific technical info from that interview...

About 7 weeks ago, my account equity dropped below $25k. I used to trade QQQ and SPY, but now I have been forced to switch to the e-minis. Previously, my typical position size in SPY, for example, was 200-300 shares. Now, the minimum position size I can take is one ES contract, which is...

The PDT rule is one of the most ill-conceived regulations that has ever been enacted. First of all, how they picked $25k as the minimum account equity is a mystery to me. Did they just arbitrarily pick a number out of their asses? Second, if (and it's a big IF) the premise of the PDT...

I fully agree with you that you can overtrade in just an hour's time. He's actully very selective within that 1-hour timeframe, perhaps taking 2-4 trades. What I meant by aggressive is that he trades as many as 20 contacts per trade. You start with one or two contacts and build up slowly as...

After two nice uptrend days in a row, the market decided to throw a choppy consolidation day at us. Today’s market activity was confined to a 10-point range. In the parlance of the followers of the “floor” method of trading that takes pivot and S/R levels into consideration, today was an...

Continuing yesterday’s commentary… After getting stopped out a couple of times trying to enter directional trades, I decided to spend some time practicing a scalping technique that I’ve been reading about. I know, I’ve previously stated that I had poor results in my prior attempts at...

Actually, I've always suffered from insomnia. Even before I was a trader. I appreciate your concern though, Aaron. Thanks.

Journal Entry - 1:20 AM EST Why did I trade so much today? Glad you asked. Although I characteristically only take 1 to 3 trades a day on average, today I was trying out a few things. More about that later. The first trade was a night scalp executed at 3:54 am EST. I had serious...

Today’s Trades (P/L expressed in terms of total contracts traded) ESZ2;BOT;2; 919.00; 08:54:02;20021121;GLOBEX ESZ2;SLD;1; 919.50; 08:56:15;20021121;GLOBEX ESZ2;SLD;1; 919.50; 08:56:15;20021121;GLOBEX +1.0 ESZ2;SLD;1; 926.50; 15:47:58;20021121;GLOBEX ESZ2;BOT;1; 928.25...

Congratulations, wally. 38.5 pts kicks ass!!

Well, I certainly learned some valuable lessons today!! Today ended up being a breakout day to the upside. Not overly surprising considering the narrow-range day yesterday. However, I didn’t capitalize on today’s bullish move because I was mentally biased toward choppiness, as we’ve...

I see what you mean. I'm looking at the morning's reaction highs right now and you're right, each level could have been a good long entry.

Wally, I have a feeling I'm going to learn a lot of great things from you. Thanks for your continued feedback. Looking back at today's charts, you are completely right about the divergences on the 5-min chart. Also, at the peak of the second top, there was a massive MACD-histogram...

That's the spirit!! Welcome back.