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Trade 1 continued...

That's right...12:30 Eastern:D Okay...short at 986.75...risking 4 ticks

A little early for lunch...traders usually go to lunch around 11:30. The e-mini trades out of Chicago(CME)...central time.

Okay...that's what I was afraid of. That's not going to work chief. You can't risk $100 to make $100 and expect to be profitable. You need to try for about a 3-1 ratio. And $100 is too much, I think. I'll make a few paper trades today and show you basically what I would try to do.

What does -2/TP +2 VTDB mean?

I was just skimming through one of my Trader Vic books last night and read this again. I think this is an excellent analogy to why so many traders fail... The question is... "Why do so many traders fail?" "The difference is neither intelligence nor knowledge, but the...

Ahh!...internet cafes. Track this! :D

I'm not an attorney, but I don't see why there would be any problem as long as you can prove your claims. Since when is telling the truth wrong?

LOL...you got it!...:D

You're right, I know a guy that makes a bundle trading breakouts. So, I know it can be done.

So, I think I'll just stick with my current style for now. So far today, I've had 4 nice setups...2 winners, a loser and a scratch.

Of course, a lot depends on the market. For example, so far today, going with the flow would been the better choice.

If it was me, I'd just go short as soon as the price bar breaks the channel, and have a 4 or 5 tick mental stop in. If the trade went my way 3 or 4 ticks, I'd lower my stop to breakeven, then try to capture 12 to 15 ticks.

Yea, just another reason I'm sticking with 98SE. And, if I ever do upgrade, I'll get Win2000.

No problem...I remember when I didn't know what a future was!:D These are breakouts of the 30 period price channel. As you can see, if you had gone short instead of long, you might have done very well on these 4 trades. Fading a breakout just basically means doing the opposite of...

Here's a Forum Discussion that might help. Check the second poster down(Bistro). They have a link to how it could be done. Actually, I think the whole thread is relevant.

Hey Gordon...sorry to hear you're out of cash. I know some people are going to laugh, but here's a way you can save up about $30,000 to $40,000 in about 2 years. Get a job driving an 18 wheeler. Those guys are making somewhere between $700 and a $1000 a week. And since it sounds like...

I used to trade Div/Conv setups many years ago using the stochastic indicator. I learned from one on one tutoring from Mr. George Lane, whom many consider to be the authority on Stochastics. Over time, I've come to realize that the indicator you use isn't that important. What is...

You can learn a lot about conv/dev setups at dacharts . Good Luck!