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And if you are trading grains stops do not work if the market opens limit up or limit down. Once I was short wheat and was up $1700 when the market closed. I had a stop "protecting" most of that profit. The next morning the market went limit up at the open. My stop got filled when the market...

The margins for corn and soybeans have gone up considerably lately. ZN might be a better fit for small margin and liquid market.

"Tape reading" or "reading order flow" allows you to see the small moves that a market like the ES gives up on a consistent, daily basis. I'm no pro so I am hesitant to comment. All I do is watch the order flow in IB's Book Trader. My thoughts are that indicators on a chart lag just a simple...

Hey, I've got a great idea. Let's just raise taxes and repeal the Bush tax cuts. Then there will be plenty for everyone! We'll just tax our way to financial prosperity for all. Hurray! What a great solution! People who don't want to work shouldn't have to. And think what an awesome boost...

Highly recommended reading is "Steidlmayer on Markets: Trading With Market Profile" if you don't have it already. A friend of mine who is a pit trader recommended it to me. Great book. I don't use MP but his concepts of how markets works and react were very helpful.

I have a co-worker who is getting close to retirement. She told me a few days ago that when she and her husband bought their first house they could not use her income to qualify for the mortgage. I'm guessing that was in the 1960's. When I bought my first house in '84 I assumed a mortgage of...

And you could not include a wife's income in order to qualify.

1. Start with money you can afford to lose. 2. Plan on losing it. 3. Don't be surprised when you do. 4. If you attempt it again try and be more objective about the markets and how they work. 5. Rinse and repeat.

It was the Clintons who put the cabosh on Al's run in 2000. They wanted him out of the way for Hillary's run now and they did not want to give up their control of the Dem party. She'd be really steamed if Al ended up getting the nomination. That would be fun to watch. I don't think she...

One of the pieces of the puzzle I was concerned about (from Calculated Risk): Foreclosure-related 401(k) Withdrawals Up This is ugly: Struggling to save their homes from foreclosure, more Americans are raiding their 401(k) retirement accounts to pay their bills — and getting slammed...

You have to wonder who else is on the list who employed these "services." Spitzer can't be the only one and he's not going down alone. Gotta be some guys sweatin' tonight wondering if Spitz is gonna squeal.

What I fear is having a few banks failing followed by a run on the banks. Accompanied by people sucking money from their 401K's and taking the penalty. Everyone is talking about INFLATION but the one to fear lurking behind the door is DEFLATION.

Will you be trading in the pit? Best of luck to you. It is a small pit in a thinly traded market. You will be very much like the new guy sitting down at the poker table.

Change your thinking. Your job as a trader is not to predict where the market is going. Your job is to follow the lead of the market.

"Where, where are you tonight? Why did you leave me here all alone? I searched the world over . . . "

Hee Haw "Call BR549 . . ."

If you can read order flow and you time your entries and only go for 2 or 3 tic targets you can get away without a stop. Watch for bigger orders and just piggy-back with them. Don't jump in, in front of the bluffers. Only go of actual orders. Do it in your paper trader first.

I have a friend who I know has traded at least 90 cars at one time and he is in and out of trades in seconds.

And the only solution politicians have is: RAISE TAXES!! Ya, that'll work. Let's just tax our way out of this mess.