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do a search for opening range breakout on google. anyone can trade this system, and it is profitable with drawdowns.

quadruple posts for the win

To anyone reading this: there is a big difference between playing a bounce off a keltner band, and picking a bottom in a downtrend. Please don't confuse the two.

Oh, and just for the record (it is posted in other threads here as well), here is Wykoff's book in pdf.

The used bookstore website is most definitely a profitable model.

DBPhoenix has kindly agreed to let me post a preview of his ebook - so here it is. I recommend his posts here as well for some nice bedtime reading.

I second Tradestation. ----- my account is with interactive brokers. I like them alot, but you better know what you are doing before you open your account.

Mine was a simple post that did not take much of anything mechanical into account while responding. I really didn't want to go into the intricacies because the OP and responses to my post were simple. But however simplistic, my point stands. The correlation and divergence between these two...

You can just look at a quote somewhere. Google fed funds futures and take the first news link you see...

Just dld DBPhoenix's book. Thanks for the heads up!

I've only read street smarts of those and I don't think either author addressed trading off tape reading. I seem to recall it's a bunch of chart setups, but I could be wrong.

It's alright. I got some other people's lunch money today. I just wanted to point out it's based on lots of things. Also, the reversal can happen very very quickly, like it always does at lows or highs of the day, so you don't always have time to analyze the situation before your stop is...

Haven't read it yet, but Techniques of Tape Reading by Vadim Graifer has a good review on Amazon by someone I respect that used to post here: dbphoenix. I can't comment on if it really does go deep into tape reading mechanics.

The thing is: breakout trading works. The other thing is: breakout trading doesn't work. It depends on other factors, like what kind of day it is, what kind of volume is flooding into the market, and what kind of day the last few have been (intermediate and long term trends). My...

Cashmoney, excellent first day! However, please take this advice: please, please, PLEASE do not buy the bottom in an afternoon consistent and volatile downtrend. You bottom picked. It's catching a falling knife. What's worse is that you got away with it and made cash, so you are likely to...

The thing is, if it hits the stops, then the price comes back down, where are those shorts going to put their stops? Possibly above the high? EDIT: just want to add: in a range, there is not really emotion-based trading, and that's what you defined. It's traders taking money from newbs...

got 32 points today

Today was about half as good as Tuesday, but alot less than half as much stress.

http://www.youtube.com/watch?v=Fwvb3ovgeRw There ya go. EDIT: I should say that it might not look like much to someone who doesn't know what's going on.

Not a good idea.