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I'm trading minis. I would prefer to trade stocks, as I used to do, but my account equity dropped below $25k not too long ago, so now I no longer have the option of trading stocks unless I switch from day trading to swing trading.

Funny you mentioned that. I used to work as an analyst before I started trading. I lost my job to the recession in 2001. Before anybody starts sending me hate mail, let me explain that I was an analyst for a Silicon Valley Venture Capital firm, not a retail brokerage analyst. Maybe it's true...

Well, I average 5 trades per day. I have two trade setups: 1. buying support/selling resistance 2. trades based on a mechanical system that I developed (I admit that I do not follow the system as I should, my psychology is ruled by fear of loss, but I am not greedy)...

Yep, I'm the most consistent trader in the world. I consistently lose an average of $300 a day. Out of a 21-day trading month, I end up in the red in about 18 of them. And my daily loss is almost always $300 +/- $100. I don't have a lot of wild equity swings--just a steady, smooth downward...

Yes, it's called beer company BS!!

Like in poker, when a player gives away whether he has a good hand or a garbage hand by subtle (sometimes not so subtle) mannerisms and/or gestures, nervousness, how he holds the cards, how long he hesitates when its his turn to bet, etc. The literal translation of the term would be a poker...

Good job. I caught a piece of the morning's downdraft, but not the whole thing. Re: Waiting for your next entry--Waiting for ES to tip its hand is a very important skill to have. I'm learning that more day after day.

It sounds like he's buying one of each, not trading pairs in opposite directions. Please correct me if I'm wrong. IMHO, I would consider buying one ES and one NQ just as they are...two separate positions, each with a risk factor of 1%. Although the indexes often move in sympathy with each...

A very Zen answer. :D

I remember one day when Rambus came out with some good news (I think it was some big contract announcement or something...the bull market days feel like a drunken blur to me now). Joe Kernan on CNBC (this was back in the days when I watched CNBC) kept talking it up all day long, and it seemed...

Yeah, it was kinda like that. Here is a snapshot of me circa 1997: 24 years old. No charts, no stops. Always long. Always bet the whole wad, margin and all. Knew nothing about the markets (but thought I knew everything). Average weekly return: 10%. Trades were based on how much I...

Maybe not a bad idea!! As of this post, no Follow-through today.

I have to admit I became very frustrated last month. December was my worst month of the year in terms of drawdown and I didn't even trade the whole month. I took two weeks off to just sort of collect myself and fine-tune my trading skills by paper trading. So far in 2003, I have no complaints...

Iceman, no I haven't read it. I'll take a look at it though. Thanks.

Lundy, With all due respect, I think that if you do not like trading, it will be very hard, if not impossible, for you to ever do it yourself properly for any extended period of time. As was shown by Jack Schwagger in his "Market Wizards" books, one of the things all the world's best traders...

"Math is the language of the universe. Everything and anything can be represented by numbers; graph those numbers and patterns emerge. If you're sophisticated enough to understand the pattern, you can understand anything, even the stock market. The Torah, for instance, is just a long string of...

Maybe I'm missing something, but who's getting censored? I see the "F" word and the "S" word used all the time on ET and none of that is being removed. Or, are we talking about censorship of ideas/opinions that perhaps are in conflict with our sponsoring firms? Thanks.

After taking a directional trade on this morning's big gap-fill rally, I've switched into scalper mode and I am batting 4 for 4 so far on my scalps. Today's market has been great for day traders...big price swings for the trend-followers, and enough follow-through on the micro-moves for the...

Db, I totally agree with you about the importance of having a gap strategy. BTW, I like your >1% but <3% idea. There are days, like today, where waiting for the 30-min breakout is not the best play. Incidentally, I also bought at 9:34 this morning (ES, though, not NQ) and hit my biggest...

I have been using Gainskeeper this year as well. I like it, but I'm in a bit of a quandary right now though because I switched from trading stocks to trading futures in the middle of the year and Gainskeeper does not track futures trades. I was looking into TradeLog, but after reading other...