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As expected, my short position was stopped out today for a loss of $775 (or 15.5 ES points). Total profit since beginning: $14,325

Daal, I haven't automated my strategy, and have no intention to do so at this moment. Unfortunately, I'm lacking the programming skills. But I did a backtest before going live and documenting my trades in this journal. Find the plot of altogether 73 trades (round turns) attached. This is all...

Thank you, vinc and Laissez Faire! To answer your questions vinc, I enter as soon as I see a break of support or resistance. The large time frames I use do not quite warrant waiting for a close as price may have advanced significantly by then. On a sidenote, I see that I have been drawn into...

I figured out the same many years ago. The rewards from day trading do not justify the challenges and emotional drainage. Not that traders cannot succeed in it, but chances are very slim in the long run. Many experienced traders therefore shift toward more longer term horizons and observe...

Price is breaking a visible support basis at 1280 after ranging 25 points up and down (see 1H or 4H chart). I reversed just now at 1280.50, and taking the proceeds from my previous long position of $3,162.50. The stop is 1296.00 Total profit since beginning: $15,100

It definitely would be. But then all those pundits, gurus, and so-called "experts" would jump in and try to convince us about overbought conditions. The crash was imminent. Be very careful. Do not trust this market. It was all manipulated. The big boys were selling. Don't get suckered in. They...

Very pleased with the current stability in markets. I have adjusted my stop to 1260 and continue to sit on my position since December 20.

You point out a very valid issue, gmst. Position scaling is something I will have to deal with in the near future once my accumulated profits justify an upgrade. When I traded CFDs and ETFs back then (which allow very flexible scaling in small amounts), I haven't had much success with adding to...

I don't think that any action based on an expectation is a good idea at all. Assumingly, you worry that we will crash anytime. It's something I have put aside after a while. I just had enough of worrying all the time. Even if someone screams "fire", I would probably just sit here until I...

I am still happily enjoying my long position and have adjusted the stop to 1242, a higher low created on the way up. I tweaked a lot with my charting setup in December to best visualize the trends that I trade. The primary charts are now the 4H ES and 1H SPY each with the well-known rainbow...

Very good point. Exactly the way I trade, too. Just limit the risk, and the rest will take care of by itself.

It already dropped a few years ago and bounced back. Everything you summarized earlier is old news. Just my two cents, take it fwiw.

That really looks like something worthwhile to pursue! I basically do the same manually by entering at big moves. Have you tested the same with the ES? My opinion is that the ES reveals trend patterns that are otherwise hidden in the SPY, because it does not trade around the clock. Perhaps your...

You were basically saying that as long as the S&P 500 is below the May highs, it is bearish. And if it ever gets above it, it is bearish nevertheless because it's manipulated. I haven't read anything more nonsensical than this (don't take it personally). Why don't you start to really trade what...

Wide Tailz, thanks a lot for your comments and the chart posted. You are quite right, the large time frames (daily/weekly) offer amazing precision, even though it may not appear so. I've also noticed how very simple patterns such as a failed breakdown (July 2009), failed head & shoulder (January...

Stop is now set to 1222.00, an area which I perceive as a lower high created today in the new uptrend since yesterday. Today's weakness and subsequent bounce is precisely what a trend follower welcomes, as it is an opportunity to adjust the risk in his favor.

Bought @ 1217.25, Stop @ 1202.00 I am long with one contract at 1217.25 upon break of the several day downtrend line, clearly visible in the 4H chart. Very encouraging price action.

One whole day has passed and we are still looking at the very same picture. Same sh*t, different day.

There have been no flat support or resistance areas I used to trade until now. And this shortly I started posting in this thread. Either people jumped on the bandwagon and this edge disappeared, or I'm illusioning. If you see any, let me know. Already working on new methods to follow trends.

I second that. Once the highs you mentioned are broken, we might be really up to something.