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I thought about this some more. Instead of attaching a regular exit stop, why not attach a trailing stop? Such as, if you are trading the NQ, you would attach a 5 point trailing stop to the entry order. That way it's automated. When the NQ moves 5 points in your favor, the exit stop is...

I was wondering if you know how to build an order like this with IB: ------------------------------------------------------- Sell 1 contract ES stop 901.75 limit 901.50 *****if that fills, submit this order***** Buy 1 contract ES stop 904.25 limit 904.50...

Thank God!!!! A dull market can put me to sleep. I don't want to miss any action if it gets "un-dull" if you know what I mean. Plus that type of order takes away the possibility of being undisciplined as far as following stops. This will help me diversify across time frames as well...

Off topic: Does anybody know how to attach an exit stop order to an entry stop order with IB? Meaning if I wanted to place an order like this, how would I do it? ----------------------------------------------------------------------------------- Sell 1 contract ES stop 901.75 limit...

Oh yeah, my chart for today. The most recent up trend line isn't confirmed at all yet. It's just something to keep me focused on the reactions. Even if it is confirmed at some point, the slope is very weak. Banker

I did some work on the numbers for the ES. Db uses 2 pts to enter, 5 pts for initial stop, and 1 pt for lrl/lrh for the NQ. This is basically 4 ticks to enter, 10 ticks for an initial stop and 2 ticks for lrl/lrh. So for the ES it would be 1 pt to enter, 2.5 pts for initial stop, and .5...

Looking at today's trend, I noticed something. You pick what I would consider to be "breakout" times to enter. Meaning if the trend is made up of little reactions that run counter trend, you choose to enter when the little reaction is being left behind. What I notice is that on longer term...

Db, Is this similar to how you fanned NQ this morning? Also, I put an arrow on the chart pointing to where I think you may have entered. Is that correct? Thanks again, Banker

Also, let's say the ES today turns into what seems to be a head and shoulders top. As a reversal opportunity presents itself (if that happens), would you consider the line I drew with the least aggressive slope on my previous chart in the equation of whether or not you would take a down trend...

Db, One more thing. In this hypothetical ES trade you took this morning, you would have put your initial exit stop a pre-determined amount of points away from your entry price. I would have put mine just below what turned out to be the Nexus of the universe. Do you use a pre-determined...

Which was just a few minutes or so after the nexus of the universe this morning. ;o) I think today has really helped clarify your strategy in my mind. Thank you, Banker

Db, I'm also wondering where you would have entered ES this morning (if you were trading it), and why you would enter there. My guess is around ~8:50 AM central time, but I just want to be sure. Banker

The S&P has reached a larger time frame road block. I was trying to explain the concept earlier. Here is a chart of what I mean. It's not guaranteed that today's up trend will stop here, but it is a clue worth noting IMHO. Banker

No I'm not familiar with fanning. An explanation would be great. I marked a less steep general direction on my chart. I look forward to learning how to fan TL's. Thanks, Banker

Db, Today has been a good example of a trending day. Up in this case. I put a slope line on my chart that is quite steep. It sounds as though this slope would be ignored and a larger maybe less steep slope or TL would be the focus. Is that correct? Banker

I see. I don't think anyone knows when the trend will end. Sometimes a larger time frame than the one you are trading can offer clues, but it's definitely not guaranteed, by any means. It sounds like you are scalping or swing trading. I can see that as a way to make money in the e-minis...

This is true, you must use market orders. You could trade items with sufficient liquidity to help curb the fear of paying too much. Another thing you could do is avoid entering runaway price situations (breakouts, breakdowns, ramps, etc.). There are always times on every chart where prices...

I think it depends on what rules you use to trade. For instance if you were a trend trader, you could say that the black line on your chart represents trend direction to you. When the line is rising, that would mean prices are trending up in your time frame. When the line is falling, prices...

The Bears won. Banker Have a good weekend everyone.

It's too bad I have to leave again. Everyone is trapped as far as I can tell.... Banker