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I think you should wait before entering or reversing until the retrace is fully played out and a point 3 develops on both the ES and the YM. I always welcome a retrace as they define the channel and allow me to see the trend. If you're afraid you'll end up on the wrong side of the market try to...

Go study in Europe for a year :) The market hours for NYSE are 15:30-22:00 here. Market opens just after school and closes just before it's time to hit the bars :cool:

2 min YM Chart for November 8 2007:

It was a +37,5 point day for me :) I'm still sim trading but I expect to go live soon. SCT is going pretty well already, but I think I'm still a little too unrestful in my reversals and need to practise on holding through a nice trend. I also have to work my tick charts and DOM analysis to...

It seems that instead of trading, you imagine a stage play with you as the only actor. You play bottom picker, then breakout guy, then short seller and finally you play a desperate investor. Ofcourse the main character in this play is the character that has it all figured out. I bet that...

If oil trading is halted this kills supply, not demand. In a commodity like oil there is always a steady pressure from the demand side. More so, without the ability to hedge producers will demand higher premiums due to the increase in risk.

First of all, get some volume on that chart. Then, you could look at it this way:

This had me smiling indeed :) The awesome thing is that this method actually reduces risk and increases reward during high volatily. Where the rest of the market sees risk, we see profit.

We had a nice high volume, high volatility day today. Chart for November 7 2007:

A large part of the run up in stocks, commodities and real estate was caused by the eroding dollar. Because, when you go long a stock, commodity or house you essentially go short dollars there's a certain inverse correlation between the dollar and other asset classes. If you look at the...

The YM was giving me a dozen signals during those 70 minutes. I had reversed on the FTT on the 13:55 bar but didn't manage to turn that trade into a profitable one as I reversed a couple of times during the market action that followed. It's a good thing the closing rally more then made up for it.

ES November 6 2007

The following words by Benjamin Grahim have proven to be true in the history of any market: In the short term the market is a voting machine, but in the long term the market is a weighing machine.

What's the reasoning behind those restrictions?

Printing money, eh? I'd like to buy some stock in those profit margins...

Well, imagine someone is observing us from Mars. They would see humans busy mining gold from a hole in the ground, then those same humans would put the gold in another hole and hire armed men to guard it. It's pretty dumb to base your economy on this. I think a better policy to safe guard a...

If a government comes to power who supports the cause of millitant islam it will topple the balance of the whole region. Pakistan, being the only country with a nuclear arsenal and a muslim majority could become responsible for the nuclear armament of Jihadists. If such weapons get into the...

Well, a national parliament could vote in a resolution to abolish fractional reserve banking and to print receipts tied to physical gold deposits. I wouldn't want to live in that country though.

There is no elective body on the European level to do such a thing. Members of the European Parliament have no power to draft a bill, this is reserved for the unelected European Commission. A resolution to abolish the ECB could only be proposed in non-binding form by the European Parliament...

Today showed a nice profit of 19.25 points whilst paper trading for the first time. I made some mistakes like reversing on decreasing volume, one of which cost me 5.25 points. Then again, I also nailed a couple of FTT's. I'm pretty satisfied with the results of this method so far. I'm sure...