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Stops and exits are very important but come into play after you're in the trade. If you consistently enter trades with a poor risk/reward ratio nothing will help you.

I've been thinking about this for awhile. I would say the single most important aspect of trading, the biggest difference between the winners and losers, is the ability to correctly gauge the risk/reward ratio of a trade before you take it.

I have been thinking about adding this book to my library. I like Linda R. and have learned a lot from her but am wondering if they are just using her name to sell the book or if her contribution is more substantial. I would appreciate input from those who have read it. Also I would like to get...

There are countless setups and strategies out there that work already. Finding one or two you like and sticking to it is the problem.

I agree that individual p/e's are of no value to a short term trader, however knowing the the market as a whole is overvalued is tradable information, inho, and has kept my bias slanted in the correct direction for some time now.

Gives you an idea of how insane the bubble was before it burst. If you go back to late 80's and draw the trendline from there forward in line with a "normal" rate of growth, it tells me that the Naz will retrace to around 900 and probably below because of the normal overreaction. Just my...

1500 is such a nice round number..:D

Well I agree with Sniper. Most of my trades are calling tops and bottoms. I'm wrong about half the time but my stop is very tight. When I'm right it more than makes up for it.

I question the value of trading one share lots unless your just trying to learn the execution part of it. You dont really learn anything, imo, unless you've got some money on the line. At least enough to hurt a little if you lose it.

Did you see Bob Frolic's single best pick for the next 12 mos on CNBC ? Hershey. I figured it would get a pop and checked the chart. Hershey didnt open until just before his announcement and it opened about .50 higher. Hmmm. Nice to be on the inside, huh.

Eng, in his book of trading rules, I forget the name, uses a simple illustration to point out the advantage of trading with the trend. If you look at any daily chart you will have no problem seeing what the trend is. I can only remember making two long trades in the last couple of months and...

I didnt mean to imply that I'm rich, just retired. Trading is my hobby. The fact that I'm able to make a little money at just means that I can keep doing it. I doubt I will ever make a lot of money at it because I have a tendency to head for Atlantic City or Las Vegas whenever I get way ahead. I...

Magna, I do as much size as I can afford within my risk profile. I trade mostly the index trackers so size is no problem execution wise. My stategy is pretty simple. I wait for an extended move one way or the other and fade it. I usually dont expect to make more than a half a point but will...

I have not found any tendency for QQQ to lead, or vice versa. One moment one will lead, another moment the other. I firmly believe there is no leading indicator that works on a consistent basis.

The opening price principle operates on the premise the the opening price is within 20% of the hi or lo a large percentage of the time. Have you checked this out to any extent? I did not find it to be true on the charts I scanned.

Steve, I have to admire your patience. I sent for your book this morning. Will post comments after reading.

...but i'll ask anyway. why does everyone says that daytrading is hard? hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahhahahahahahahahahhahahahahahahahahhahahahhahahh.......... thanks, I needed that :)

The only time I use a stop loss order now is if I have to leave the computer for awhile. I used to set them all the time then watch in agony as the market moved inexorably to it, usually to the very penny, activated it, then gleefully headed back the other way. I know this is all in my head...

When I first started trading I was doing 20 to 50 trades a day. After six months I was doing 10 to 20, After a year 5 to 10. Now I seldom do more than a couple of trades a day. My profitability has increased in direct proportion to the decrease in the number of trades. I have nothing but...

I have my doubts that someone can switch vehicles without initiating an entirely new learning curve and losing quite a bit of money in the process.