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In the end the only thing that matters are you and your convictions. If you listen to others without filtering the input through your own thought processes you'll never find your own market truisms which must exist for you to trade well over the long run.

As Livermore so aptly pointed out it is unwise to unwind a short or long "line" during a reactionary retracement as you give up your valuable position and the "big money" is made in the major movement and not the squiggle.

Chasing a stock is like chasing a parked car only this car often gets slammed into reverse.

Trading is like playing a musical instrument. It can look easy, and if played well sounds great but if you want to play it takes time, tremendous effort, and for those who become great natural ability.

When the market makes a solid bounce off the opening price range it usually means the market will close in the direction of the bounce. Relevance: this am's run up into yesterday's high then retrace into the opening price then bounce and run. Happens over and over and over and over and...

It is OK to take a profit or loss for mental health reasons. Your emotional and intellectual capital are your most valuable assets.

That was a wicked short hold. Took some profit mostly for mental health reasons!!!

Very funny. How about go short now. In all timeframes. 12/14/05 @ 7:15 am.

Fed Speak ala FOMC qualifies as market shock. Witness today's trading @ 2pm. Good Luck

The market usually moves farther than one anticipates. Corollary: Don't be too quick to take profits.

I have been thinking about a topic for a thread which would benefit most traders. I am thinking anecdotal stories, trading tips, and any of various financial tips would be good. To start I would say "Market turns take a proportional amount of time in all timeframes." Of course no...

Thanks for the great thread and to all who contributed. This has helped me considerably as I constantly struggle with improving my hardware/software. Good Luck

Thanks for the great thread. This has helped me considerably as I constantly struggle with improving my hardware/software to run smoothly. Good Luck

Make the pilgrimage. That is to say go to the pits. Why watch a movie?

The drinking is less important then rewarding the girls for dancing on the bar. That way you get to see the goods before sampling. Kinda like frontrunning the market.

Agreed. Better yet feed the red bull and vodka to the girls dancing on the bar as well if that doesn't perk you up you can always get on the list for a sex change operation.

Today using either a tick/volume/time chart the trade was the 3 pm selloff. I don't really think it mattered which chart as long as your eyes were on the markets. D.

Yes, I suppose it relates to the organization of the presented data. D.

Not to be argumentative but I think this statement is only partially true. Time charts do show some things that volume charts do not show you. For instance one of my early problems was being right but not allowing the trade to develop which takes time and does relate to volume but not...