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Basically what I do is look for trades on the LONG side ONLY when they are in a weekly UPTREND and trades on the SHORT side ONLY when they are in a weekly DOWNTREND. Sounds simple enough right? So then I look at 60 Min charts to help me ID entry and exits based off of EMA crossovers. I use...

Yes I will post later today as I am at work now. Stops for BUY TO COVER moved down to AMZN = $214.85 and TMO = $50.47 Edit @ 2:37 PM = AMZN Buy to COVER filled at $214.85

Looks like the break above 1270 to 1290 was just a bull trap. This also completed the top resistance line of a rising megaphone that I was describing when I started the thread. This would suggest a low of 1050-1060 on SPX is ahead.

Incidentally the fill prices were: AMZN short @ $211.85 and TMO short @ $49.85.

Sorry I didnt see your post earlier... Yes 3 TF method works great. I actually credit Elder and Van Tharpe with ~75% of my system being profitable. Elder reccommends 3 TF as do I but I have found that if you focus on the upper and lower TF and almost IGNORE the middle TF you will have more...

2 trades I have entered orders for....but I DOUBT they will fill. AMZN short STOP LIMIT sell order with sell stop @ 212.52 and sell limit at $211.45. Target price =$194. TMO short STOP LIMIT sell order with sell stop @ $50.17 and sell limit at $49.85. Target price =$42.

UYG stop filled yesterday at the close. In cash now. I expected to see the market retrace to 1250 to 1270 and bounce. However it appears that we broke below the key level of 1250 and now have a gap lower on the futures. It is highly unusual for my system to not have any good trade setups...

I have the latest Samsung Galaxy S II and compared it to the iPhone 4S and they are almost even but I give the edge to the Galaxy S II given the larger crisper screen and faster processor and 4G versus the iPhone is only 3G smaller screen and less not quite a good graphics in my opinion. The...

UYG stop moved to $46.91.

Keeping my stop at $46.33 because I expect to buy again to add to positions and take new positions on this retracement. As for how I figure them, well I always pic a spot that is a bit random and still within my range of exits. For example I never place my stops at an even round number...

Interesting that you should ask this as I have this EXACT issue with my system. I used to routinely risk 0.75% and have based on my stats on average a 0.56R loss when I lose. This is because of the stop management of tightening my stops quickly if the trade does not work out almost immediately...

Moved the stop to $46.33 this morning. I have not decided on where to move it for Mon. I will update. Sometimes I move my stops 3-4x a day and I dont think I have the time to update everytime I move a stop. Thats why I updated when I closed a position on PPO. I will try to be as detailed as...

I HAD the exact same feelings for years. I said it before and will repeat here...CONFIDENCE in your system will nearly eliminate these thoughts. The problem comes from not having FULL 100% confidence in your system. If you had that you would shrug it off and know your next profitable trade is...

Thanks for the compliment. As I expected today there were very few, if any, trades to make. Suspect retracement will happen sometime mid next week. I will update again when I have a trade to post. For now still in UYG. Moved my stop up. Have a good weekend.

I can not see any good trades to take. Everything has run up so much I will wait for retracements. Taking tomorrow off except to tighten my stop on UYG.

Uh,...OOoooK. Good Luck with that.

Another good day. Closed PPO short with a smaller win than expected but that stock clearly had a reversal forming mid day. In fact my win on that was trimmed significantly but still a win. UYG almost reached my first Target of $51.66 or thereabouts. UP $5.47/share since purchase. Still...

You hear that?....That's the sound of shorts getting their faces ripped off.

Huh?....nothing to panic about? How could you even say that? You need 66.66% return to break even. Thats pretty big hurdle.

No limit to the number of stocks but usually I hold no more than 6-8 at a time but i have had as many as 10. The number does not matter. It is the TOTAL amount of capital at risk that is important. No limit as to maximum dollar amount. I made one trade in the past that took up 76% of my...