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Interesting perspective, schulzey. I did this many years back with daily prices, when the WSJ still printed the market data tables toward the end of every edition. I'd tear them out and compare the prices from the previous days, to find big movers. It was slow at first, but over time I was quite...

Just checked the markets, only to see that my short was closed out for a $350 loss. Too bad this market shakes everyone out left and right. No fun. Have to be quick taking profits. Total profit since beginning: $11,937.50

Haha, my actions are already predictable :)

Short @ 1240.50, Stop @ 1247.50 Boy, that was long absence from the market. I believe I spotted an obvious support area at 1245 and shorted it as soon as it broke today. Initial stop was at the high of 1273, but adjusted lower as former support acted as resistance in the last hour. Good that...

tihfa, I don't trade pullbacks. Too much of a gamble if you ask me. I strictly trade what I see, instead of anticipating that some support area would hold. Hence, the retracements you are speaking of are not really an entry opportunity according to my strategy. Unless you meant to trade the...

You must have participated in the 50-60pt rally on that day, logic_man. There was only one buying opportunity that I might have taken last week. It was very early in the morning when the ES broke above former support at 1180, so I did not recognize it on time (see chart attached). Very...

Many thanks, iceman1. That was quite an accolade. I'm amused about your comparisons to craps :D Sadly, it is true. Traders are too often deceived into false beliefs of consistency. The market is a master in tricking the average trader. If something cannot be told in words convincingly enough...

jasinhbca, I saw your P&L plots, I admire your analytical approach. The thoughts you share and the efforts you put in at reassessing the trading day and even the printouts you make, shows me that you truly want to learn it in a proper way. Let me attempt to redirect you to the right path because...

You're very welcome. Gekko, I wasn't even aware "perhaps" was a woman's word! Maybe probably is better then :P Thanks for the compliment, though. I would be very surprised if we mirrored 2008. It's now or never for the bulls to enter the picture this week. I can actually see your reasoning...

Now this scenario doesn't look that way off, after all :D A self-fulfilling prophecy?

I don't have a particular goal with regards to trading but to make right decisions. Even if I lose, it is only worth it if it was executed based on the right decisions. The rest will take care of itself. I don't feel the urgent need to trade full-time, because most who dream about it here don't...

For testing purpose, I totally agree that you are well-advised executing on demo. I backtested my strategy and have documented my real trades in a journal here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=226737 My concern was the phase after a successful backtest and now trading...

Based on the assumption that we are generally more calm dealing with virtual money (i.e. paper trading) than with real money, I came up with the following idea. As I haven't placed a single trade for nearly a month now, I still observe the ES for a potential entry opportunity. So far nothing has...

If you look at more than one time frame just because you cannot find a setup, you are basically forcing yourself into trades. I backtested my strategy back to mid 2009 with precisely this 1H chart and it has never failed fundamentally. I cannot recall to have had such a long phase without a...

I agree with you wholeheartedly! If someone claims to be a trend follower, you simply do not expect him to day trade. If that person actually does it, he is simply a day trader or scalper. Whether you go with the trend or against it, it does not matter in this context. It's about the definition...

Call it dumb luck, or simply incompetence that I have not found any entry opportunity according to my tactics in recent days. There were no visible support or resistance bases forming in the 1H time frame. The current triangle pattern in the daily chart is a particularly challenging environment...

I don't believe there is any grand masterplan whatsoever, just a general concept. Typical material of conspiracy theorists. And what is so wrong about unifications? Thanks to the EU, the hassles of traveling and working anywhere within the Union have been greatly reduced. If we do not like...

LOL

Abe, I haven't looked at either with regards to my strategy, yet. I'm sure it would work but I just find the DAX slightly random in its behavior as it merely tracks US markets most of the time. I frequently see it go from +1% to -1% all too often which doesn't really make it a trustworthy...

If you are serious about wanting to trade them, you would find your way. Such as asking a friend abroad to open an account. If US regulations make trading in a small scale so unattractive, retail people will simply do their business elsewhere; without mercy.