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A nice quiet break below 24 ought to do the trick for you and bring it to the high teens, if it bounces/consolidates sideways next week I might be inclined to join you in playing that break at least :) Can't believe this company still at 20BIL market cap with 740mil float. Any squeeze would...

Are you looking to short rising wedges and buy falling ones as the TA textbooks say? Or are you looking to short breakouts after a rising wedge (fading the slow grind up then climax) and buying breakdowns out of a falling wedge (catching the eventual panic after steady price deterioration)...

Tongue-and-cheek-tone aside as I attempt to exorcise my demons, I honestly find the Schwager books to be among the best in the subject and the definitely remain the books I find myself reading over most frequently. :)

So what did a few profitable days prove? Not much in the grand scheme of things (and even less considering the day I stopped looking for a bottom was the first day in ages you could buy the open and sell the close with reasonable stops). I'd managed to gain some semblance of consistency to the...

Hope this makes some sense. . .

Not sure what your targets are for profit-taking, but hopefully they are much larger than your stops; selling LOD's will result in many stop-outs, but its the few occasions where you catch a big move that should make up for all the rest. Keep that in mind and don't be too discouraged. On the...

I think I learned a bit about myself and my trading by just writing it down, so I'm back and hoping I'll be able to learn some more (and perhaps you all won't find it a complete waste of time, either). Something about putting your ideas down in black and white kinda helps you cement them into...

You can make a good living eating the puke off the floor from your brother scalpers; just wait till you see the rain of vomit and run over with your bucket. :D

I find the BBH's are best used in swing trading the biotechs (at times they will trade apart from the nasdaq and will make nice hedges if you are also swinging the index), the illiquidity just isn't worth daytrading it, but for overnight positions it reduces any risk of blowup. You may as...

Jesus is the root of all good threads going down the crapper. . . :D

If you're daytrading, I think the most important rule other than cutting your losses is taking your profits. A good profit that you let melt away because you wanted to hold for more is in my opinion more destabilizing emotionally than seeing a stock run 2 points higher after you sold for a .50...

The vast bulk of FOREX trade goes through the interbank market; individuals basically get leftovers with either currency futures or through a "direct" forex trading firm that will take the other side of your trades. Forex is a market of relative values; going long the euro means you are short...

I hope by opening orders you meant you bought the open and sat all day? Don teaches that too? :D :D :D

Nice timing, nice trade :D

With all the talk about capitulation bottom, I think we'll make bottom on the first slow grind up day (something that doesn't just look like shorts covering their asses). Thoughts?

Prae, I suspect that the only people who were able to hold from the sept low on through the entire week were the ones looking to get out even (I've been there before :D :D :D)

My advice is to try as soon as possible to NOT think about daily targets; get rid of the habit of needing to make some arbitrary number, those targets can only hurt you. Think about it, if you haven't met your daily goal or are staring at a loss (especially after a string of good days), you...

Don't let anyone trap you into thinking that their way of "trading" is the only way it can be done (especially if that certain person deems charts, futures, and nasdaq stocks as untradable -- and asks you for $250!! sigh!! :confused: ). It's most likely that person's view is just a...

I would think both are equally difficult endeavors, just different time frames :) Re: calling bottoms; even if you bought the EXACT low tick on the spoo, how much of the ensuing rally do you short term traders think you'd be able to hold onto without selling? The hard part isn't calling...

What I've discovered about intraday trading (at least for me) is that execution = 80%, prognostication = 20%. Many days I will come in thinking the market will trend one way or the other, and I might even be correct in retrospect; yet because of a few early mistimed entries, I will find myself...