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My wife knows most everything I do on a daily basis. She can tell by my mood if I had a good/bad day. I get very excited when the market does something interesting and start blabbering all about it to her during lunch. Hell, I'm pretty isolated during the day, I have to talk trading to...

Lost interest in this thread as certain egos started taking over and spewing crap... won't mention names but you know who you are. We were having a good thread for a few pages in the beginning ... Anyway, just wanted to say yesterday and today presented an excellent trend across all the index...

Work both jobs and accumulate funds until you can live off those funds using risk-free returns from T-Bills or something similar. Make a plan to get to a liquid net worth of ~1.2 mil. Put 1mil into a 5%/year "guaranteed" return and cover all bills using the 50k. Trade the 200k with no...

A few observations: 1. You mentioned a 3k daily loss limit. At this point I estimate your working capital to be 40-50k. You're daily loss limit seems too high, i.e. you stand a greater risk of ruin. For comparison sake, I believe that my own personal risk parameters are comparatively very...

Second that.

Got stopped out a bunch and didn't let my winners run... Holding some shorts over night (currently at B/E).

Got a good trade out of the ER2 with this morning's pop. Also took a couple trades in GS and RIMM. Going to stop for the day so I don't give anything back:)

Are you still holding that short? Great call my friend...

Barely positive today, very difficult day. I had absolutely nothing working in my direction up until the last 2 hours - caught the downmove in the ES and ER2 (ER2 kept stopping my short out all day until that last support break). In general, my strategies have not been working well lately...

Can you provide some sources for this? I have held the belief that ALL mortgage interest is deductible... ??

Decided to post consistently for a week or two... Bad start for the week, -800. Haven't had a good feel for the market last few days as many of my trades have been reversing consistently. CME got me scaling in an then a nice sharp turn downwards :)

My software allows me to set the default limit order conditions, this includes sell, short sell, buy, size, route, and bid/ask increment conditions. The bid/ask increment option allows me to set the default amount above or below the current bid or ask. Suppose I want to short XYZ and it shows...

I have heard of software packages that add a cent to your requested short price because of the uptick rule. Some platforms do this automatically unless you tell the platform not to. If this is not the case then you are right, something is very wrong... call the broker right away.

ER2 definetly looks bullish into the close... post market prints are hitting 77250 or so. This could be in anticipation of positive news. What is your reasoning for good job #'s? Mike

That's really the point to this discussion IMO. I scale both ways, in certain cases I scale down but I always scale on the way up. My initial entry is a sacrifice entry so to speak, I want to find out how much the market will move and what type of fluctuations I am going to experience...

In a word, yes. Look at it this way : incorrect would've meant taking that short trade without a fixed stop loss. Even more incorrect would've been letting that trade take you for x points into the negative and not knowing before-hand were you were going to admit to being "incorrect". Thats...

Jeeezz what a day so far, Testing 770 right now. Just made back my morning losses and then some... Just goes to show that anything can happen at anytime.... Mike

Now that I look at the 5 min, it maybe we have some good upside today - possibly towards yesterday's high. Going to wait and see what happens, 77000 seems like a key number to break. Also, the NQ is looking fairly bullish this morning...

Covered at 768 for a small loss. Trade wasn't working out...

I agree. I went short into the close. My decision was based on what appeared to be artificial price inflation, i.e. the moves up today we're spiking on low volume and no follow through. My stop is tight, at 770 since this is a discretionary trade, not based on technicals or price points. Mike