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I traded that, measured move target wasn't quite 5 pts, but hoped to get 5 pts, so close, missed by a tick I think.

And the chart I use to illustrate is probably a little different from, say, the chart generated in IB. But the overall gist of the PA should be good enough to figure out the risk:reward of a trade.

Does this mean you will try to get in as soon as pre-market trading opens (or extended hours the night before when the news is released after hours)? Or are you planning to enter at the opening bell? Or are you planning to wait a few minutes to see if the price reaction to positive news is...

Less experienced traders perceive every little pause and pullback as a failed breakout or a reversal. They feel far more comfortable picking what they believe is a price turn (tops and bottoms of moves) hoping to get the "best deal". The uncomfortable thing to do is to trade in the direction...

"By letting go of the illusion of certainty, [the master trader] unlocks himself from the prison of his comfort zone and takes responsibility for the reality (winners and losers in trading) of his trading." - Rande Howell “It’s not what you don't know that can blow your account; it’s what you...

Last post here; I'll continue to confuse the apprentices in their journals, though :cool:

In line with my reply above, I don't think it really matters all that much as long you use something consistent. I use IB's datafeed and the price bars appear to match the live action I see. I think occasionally a spike high or low gets adjusted a tick or so after the fact (or maybe I'm...

I like to connect well-defined swing highs and lows on the 5-min chart. Sometimes "well-defined" just isn't there, which indicates chop/range to me anyhow. Around the open I'd connect the spike high just past A connected to the high at J and the line across J and R was drawn from pre-market. A...

I think maybe I did an "eyeball" measured move calculation when I posted that :D It really is a golden setup, not because it never fails, but because when it works the favorable move is very frequently multiple times the stop loss.

I can't stress enough the value of capturing screenshots of charts at the hard right edge, bar by bar, leading into strong price moves and studying them until you can feel the setups in your bones. It's stressful and difficult working in an environment of uncertainty all day. By studying your...

IB users take note ^ !

New Rule: Portfolio Analyst!!!

On that second trade, it's apparent by the 14:03 bar on your chart that price is printing higher lows and higher highs and there's a swing high up there ~ 3982.00. That's what I call "airspace". If you buy during that 14:03 bar you have just about equal risk:reward (5pts either way) and if price...

Hmmm...OP says "official 2014 PnL "blotter" thread. same rules as previous years trader PnL threads." Can't find the rule about using portfolio analyst.

Wider targets today.

I can't believe you guys have a problem with mfb! He gets fills above the high tick and below the low tick because clearly he's part of the Dark Pool Club! :D

I'll give you a little exercise that might help. When you get that fear of missing out feeling and want to just get in despite the fact you'd be either chasing an entry or jumping the gun prior to a valid signal, write down the entry price and the price where your stop loss would go and make...

I'll share my own experience with this sort of trading by how things seem at the moment: It caused me to bail out of far more winners break even than save myself from losers. Over the past couple weeks alone quite a few of my trades came within a tick or two of stop loss before reaching or...

Patience is a trader's best friend. Fear of missing out is a trader's greatest enemy.

I have hypotheses for why they work, but in trading understanding why something works won't help you profit from it unless you understand how to derive a statistical advantage from it and you have a personality that can thrive in an environment of uncertainty and risk. Why it works is not...