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Easy :) You posted as I was writing.... Look at your logs, find out what your “point of no return is.. Do you ever come back after that first loser? I found when day trading that 3 stops was my trigger. Any day when I took 3 stops was a “bad” day, and was probably about to get...

>My struggle is mainly with myself. When you make money four out of five days but cant get ahead, the market is not the problem. Yup, you have pegged it, there is some error that is holding you back. >Any advice on how to avoid those blowout days? Did you ever have that problem? Yes I...

>I am a struggling trader. Oh God am I struggling! The current market has surely kept everybody on their toes. The good old trend trading tactics that I used for ages are all breaking down. You have to be deviant in this market and think ...”what could the market do at this point to ruin...

I did an interview with the folks at moneyaudio.com the other day, and Tim asked a good question about who is out there learning to trade in this environment. I’d like to throw this out to the Elitetrader community and see who is out there these days. The folks who have been coming to my...

>Any 'good suggestions' on a technique for slowly getting the account back above 25K through trading? What would you do? I try to deal with this pain in the neck rule in the position trading room all the time. Since I’m a swingtrader who holds a lot of trades overnight, I didn’t think it...

Great post Momo! I wrote this a long time ago... same concept :) THE $100 BILL Soldiers wishing to join the Special Forces go through unbelievable physical and mental hardships as they try to prove they have what it takes to be one of the world’s elite warriors. Those who succeed are...

Here is a great first step you can take that will cost you less then $200 and will help you to begin to build some experience. Step 1 Sign up for a charting service (qcharts is $80 a month) Step 2 buy "Technical Analysis of Stock Trends"...

>can you recommend any sources where I could look up the stocks from different sectors and how I can find out which are the leaders and the "laggards". http://www.bullsector.com/ This site has a ton of info on sectors/sector componants -Bo

Hey Tony! The thing that jumps out for me from your description of your brothers first trade... He took 500 shares! Show of hands, how many popped the trading cherry with a k-lot? Hehe, I logged in all dewy eyed and ready to get rich... Armed with my trusty LVL 2 book (Summary: find the...

>still looking for trader ideas re how to get the cajones to trade size, that's my weakness, I have a hard time pulling trigger on over 1K share trades .. ideas? Come on over to my chatroom... I have helped quite a few jump over that particular hurdle. :D /me ducks -Bo

>I am curious as to what indexes and/ or indicators you look at nightly. I follow the S&P 500 and NASDAQ 100 indexes. I have a scanning workspace set up with a monthly, weekly, daily, and 60 minute chart all on one screen. Then, I manually flip one by one through the component of the S&P...

>I_ think they are the _PERFECT_ daytrading vehicle. Bless you for that! I am probably the one buying your daytrading shares as I enter a trade with a multiday/week expectation :) There is room for all in the markets, The other day I was short the ES off a 30 min setup, and a friend went...

Not for me Nitro! In the smaller timeframes I find risk hard to control, patterns that get broken down to tag the stops, spreading by the specialist. For me, profit lies in trading the 30 min and greater timeframes. Anything smaller and I just get chopped up. -Bo

I find listed (NYSE) issues to be more orderly and to trend better in deeper time frames then the NASDAQ stocks. Not great vehicles for day trading, but if you can keep your stops out of the reach of intraday whips, they have some great trends to play with. As a daily based trader they are my...

After many months experimenting with every indicator and combination thereof, I threw them all out. I went back to the basics, and very soon thereafter passed over the hump to profitability. For the last few years I have used nothing but... candlestick charts with volume 20EMA 40EMA...

Two great ones are daytradingstocks.com and hardrightedge.com -Bo

I rarely enter any new positions and try to get as flat s I can with my overnights. I find that the best opportunities come for me the next day. After the shock event of the announcement has worked itself out. The market tend to tip it's hand in the fed day afternoon, the next day tends to be...

>...didn´t Livermore also say that it was his "sitting" that made him money? Yep Babak.... "And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big...

>For the rest of the month I quit trading at 11:00 if I am up more than $200. If your best trading is done in the mornings, then bail at 11:00-12:00 no matter where you stand. Take what money the market offers and move on. This is key, as a "must have" goal can be deadly. What if you are...

>Which brings up another question, how do you let your winners ride? >I can't even begin to count how many times when I sold some stock for 50c profit just to see the stock goes another point. I don't have an effective game plan to ride my winners, any suggestions? Take look at your...