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It appears that every so often the discussion about candles an there validity comes up. It always goes the same way, some believing that they work and some believing that they dont. I for one believe that they work, but that is neither here nor there. If a person finds value in using candles...

Trend seems to be up. Do you mostly go counter-trend? Not saying one is better then the other, just curious. Good luck on the shorts.

Just curious why there is nothing about a stop. Good luck with the room/journal!

Thats why I use a free hotmail or yahoo email address for things like free trials and for information. It's a given they are going to sell your email address. If you have an email dedicated for stuff like that it wont clog up your main email. Get a yahoo or hotmail account and use that...

You mentioned nothing about what happens if you dont get your .25. How big of stop loss are you going to set? Since you are only going for a tick, the best risk/reward ratio that you could achieve is 1:1. (Risk=.25, Reward=.25). With a stop that close it appears that you hope that it will...

I dont think the YM will ever be the "hot market" to trade.

Anyone else watch the PREM levels? There has been an awful lot of program selling triggering during this whole up move. Not alot of selling hit the market when triggered, just a little bit. Just curious to see if anyone else follows these levels.

$20/pt 4 ticks=1pt $5/tick (in case you couldnt do that math there:p )

OK, its just it seems that the natural progression is from the ym to nq or es and then to er2. If you can handle alot of movement the er2 is for you. I started with the es to get my feet wet and now I trade the er2 as well as the other mini's ( except ym). The ER2 is basically the ym on...

Why do you want to go from the ym which is only $5/pt to the er2 that is $100? I would possibly look at the nq or the es first. Just my opinion.

Fib Price Extensions.

Not impossibe, just got to find the right markets. Euro had a nice move this morning, and oil has been in a downtrend since the open.

I'm just curious how long is "intermediate term view"? Seems to be in a nice downtrend now ( 11:20 est). If your long since the morning your already in the red.

Wouldnt your average price be 734? Ive moved more into the ER2 as well. The es is just to noisy for me most of the time. Good luck.

They over took Adelphia and then got rid of the NFL network. Bastards....

I'd have to respectively disagree. I think it could be suicide if he ignores the R/R ratio. People, especially new traders, are dominated by fear. Fear of not booking profits, fear of losing. If he continues to book nickels and dimes, but his losses are in dollars, he wont be around to long...

Nate, Be careful in using candlesticks incorrectly. Spinning tops doesn't mean the stock is weak. It could show the current move ( uptrend) could be losing steam, but just because there are spinning tops ( or ANY candle pattern for that fact ) doesn't mean the stock is going to drop. Also...

Wont this just confirm that if a position doesn't move in his favor instantly to just get out? Teaching him its ok to trade on gut feelings? He had a valid reason for getting in, but not a valid reason for exiting. I dont consider fear as a valid reason. To encourage him is good, but to...

good luck:)

Something tells me that part of his rules isnt selling based on fear. Trading decisions based on emotions generally dont turn out great. Whats the point of a stop if he is just going to over ride it because he was scared???