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rookie emini guy here, but I remember several years ago a floortrader suggested your trading begin around 10:30a because (according to him) it usually takes them that long to disseminate rumors, new data, etc. Usually by 10:30 all that fluff is usually settled. Not saying it's an accurate...

Of course, I understand that comment. But think about this...if 90% of traders really fail,you need to do what 90% are not doing. Obviously if you trade the way everyone else does u will fail. Also, i don't blindly buy a stock because it's falling. It's price action, a couple of technicals...

You haven't traded them long enough. By far, this is the most low risk/reward method I have utilized for last six years.

haven't been finding too many lately. As a result, I am looking to get into emini trading when i don't have a falling knife positions. I monitor the markets throughout the day for FK's because they sometimes don't show up on end of the day scans. Edit: I usually hold FK's for multiple days...

B1S2, could you explain what short grail is? I am sure it's elementary, but I do not use many technical indicators. thanks and continued good luck p.s. nice to see you here Romik.

trust me he won't fail. he may not get the mill right away, but he won't fail. u do not have to love something to make money at it (just take a look a sports and business leaders).

Wow! great posts Romik. you have definitely provided more of an explanation than I expected. thanks again for the clarity.

Whaaaattss upppppp!!!! Good luck with your goal. Hopefully we'll have 6 more months of uptrend for ya. By the way, if you only make $600,000 in 2007 you can cry on my shoulder.:D :D :D Seriously, don't overleverage yourself. Take it one trade at a time. Longevity is the key. $1,000,000 in...

Not trying to complicate things, as this method is pretty straightforward. Using your example...if a market has been trending downward for three months, ask is below support, and rsi is reading oversold, how do you trade that? do you overrule the rsi and short anyway? thanx Vic

Risktaker, maybe he didn't hear you the first time.

Why did Worldco go out of business? I used to talk to a guy online named "DAYTRADERNYC" from Worldco. DAYTRADERNYC, you still here?

Okay, I'll try to keep up with this tread. I remember really getting into intraday S/R on the ES. I made some progress, but I couldn't develop anything to the level of consistency I was looking for. Good Luck

Romik, is this a new method of trading for you? How long have you traded this strategy? Also, which chart service is that?( currently I don't trade forex)

Definitely not undecided. I trade "falling knives" almost exclusively. notice how I wanted to short only @ $19. I did not blindly chase a declining issue. To me it appears selling pressure has eased, now I am looking to go long. I always watch an issue first and plan my trades before hand...

Forgot to mention this is a multiday trade(1day-3weeks usually)

I will be buying tomorrow unless the general market is getting hit . $1.00/share profit target. (how bout that blue color, cool isn't it)

Ok, I understand now.

Vikana, I am not at all familiar with Carter, but I am currently checking out one of his CBOT videos. Your comment above seems to contradict itself. Could you clarify what you are saying?

Quote from EqtTrdr "rate hikes are bullish" Quote from roscko "how is a rate hike bullish?" Quote from Moneyball "In a bull market they are :D " You guys are hilarious!:D