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Typically, I want to see RSI 2 period to drop to 0 and the RSI 5 period under 20. Then I put a limit order to buy at 10% lower than the previous day close. What I am doing is looking for extremely overbought and oversold situations. Then my exit is a market order the morning after RSI 5...

I am still holding for lower price on SLV. If it doesn't happen I don't trade it.

I'll keep an eye on SLV and let you know when I would enter. I might even do a real trade on it if everything works out on it.

This one is getting ready for a nice pop. I would like for it to drop little more and become very oversold before taking it. Would jump all over it at $27. The trend line doesn't really matter for this short of a pop. What does matter to me is that the price is trading above the 200 day SMA...

The 59 entry would have been a break out trade and the way I would have traded it I would still be in it. I always stay in until the market forces me out. When some people grab their money and run I am doubling up on my trade and letting it run. I get agressive on my winning trades.

Close but they don't even use MA's just price action. MA's are a viable option for exits with their system and I do like to use the 15 SMA for my exit. They really use price action with very strict money management rules.

Sorry...I couldn't help myself :) But, news does not hurt when the days are just blips. I am going back to even longer term trading now. Instead of going several days I am trading for weeks or even months playing the long term trends. That is why I quoted the Turtle Trader. Good trading to all.

Be careful tomorrow with the jobs report. It has been very wierd the last few months. Bad news has made the market go sideways or up and good news has made it go down. Just be careful. Quote from one of the infamous Turtles: "You can not focus on the short term, you have to look at the big...

Looking at the daily chart SLV is setting up for a nice swing trade. Would look for it to go back up to around 31 but I would like to see one more down day and see it drop to about 27.50 before entering long. P.S. be careful of over trading

P.S. As much as I would like to trade this one I have closed all my positions until January. I like to start the new year with a clean slate when possible.

Sam Here is how I would play this for a swing trade. First, pull up a daily chart. If it opens up positive I would buy at about $59 and stay with it as it is going up to about $61.68, that is where you will find resistance. You can either get out there if you want but I usually stay with...

I haven't gone anywhere, just lurking mainly. I know from experience that you will get so much advice that you surely don't need me chiming in very often. I will be looking at your journal though so if you have any questions don't hesitate to ask.

That actually looks like a good swing trade opportunity. I would wait for it start coming back up (maybe enter at about 59.00) and you should be able to ride it up to support at 61.59. At that point you could scale out some profits and move your stop up to break even or let it ride, either would...

Thank you. While you are studying the swing trade don't to check out the other guys I have mentioned as well. Larry Connors, Kevin Haggerty, Dr Thomas Carr and Charles Kirk. If you decide that day trading is still the thing for you I can tell you a simple approach that I have used...

I get a sense that Sam here is good people and I like that. If you look at my posting history you will see that I have not posted very much in the past few years but I will keep monitoring Sam's journal and I hope to see him succeed in his journey. Good trading to all in 2011. I got a feeling...

Well if it aint Mr Mountain Dew himself. If it was my journal I would be happy that you not only mentioned your site but that you visited this journal. Yoo are one of the people that I have learned so much about swing trading from. Sam, this is a man that will help you get a great start to...

The main thing to remember is this. A chart is a chart is a chart. Day trading charts react the same as swing trading and long term trend trading charts only in a different time period. I treat them all the same only I get to react at a slower pace with swing trading and trend trading. I would...

Thanks...I just don't want to hijack Sam's journal but feel free to look through my old journal. I saw that it is listed in one of the hall of fame journals here on ET. It was called the S/R emini journal or something like that. I closed it about 4 years ago but it had some good info and I...

I had to add the 30 minute chart due to my OCD. I am very compulsive about the rule of 3's. I even have to have 3 touches on my trend lines before I consider it valid. I use stockcharts.com for my scanning and I re-scan every options expiration day. I scan based on: Price between $7.00 -$100...

Since you really like the idea of day trading it would probably help to start out looking at a daily chart to help determine which way the stock is heading for an entire day then start dialing it in to an hourly chart then 30 minute and trade using a 10 minute chart. Those 1 minute charts are...