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An old man once told me the best time to buy stocks is not when everyone is saying you should buy nor when everyone is saying you should sell; the best time to buy stocks is when half of all people say you should buy and half say you should sell. At least that's how I remember his quote right...

Yes, it does.

People will stop driving monster trucks and SUVs and eat more high fructose corn syrup and hydrogenated vegetable oils before there are any riots. Ultimately I think the bankers' plan will work more or less as they think: People will die off rather than lynch them. The populace might "riot"...

ROTMFFLMMFAO

Is anyone else's ES data messed up? It has been like this since last night. I have re-started TWS numerous times.

Hehehe, gold has topped.... I remember when I bought my first gold coin at my new dealer back when it was around 375, he said to me, "When it hits 1000, you're going to bring it back here to sell, right?" I told him back then, when it hits 1000, I'll be in here buying. I will look at...

I have a few things to say here: As far as I know, commissions are per contract in all the index futures, so you don't really save much or anything by trading several contracts at a time. Scalping for a couple or three ticks at a time is probably more difficult, but also more profitable...

How do you deal with the high stress and emotion each day? I don't think of it as "dealing," but I usually go for a walk on the beach after the market closes. Trading is not the most stressful or emotional job I have had. How do you deal with such big monetary losses and gains without it...

I have to wholeheartedly agree. This is what I just said to my friend a few minutes ago: i didn't know who dennis kneale was when i first read this thread since then i have found out who he is he really is one of the most worthless ones on there

Here's my $0.02: I have been debating whether to get rid of CNBC (and save $40 a month), but yesterday I decided to keep it when Mark Haines said something along the lines of, "Welcome to [whatever the show is called these days] on this LEAP day, and right now it looks like stocks are going...

I have had a few margin calls with IB, and yes, it usually works out so that you lose money, and if only you had been allowed to stay in the position, you would have been able to later get out at a lesser loss. That's what margin calls are all about. It's not IB's fault. On the contrary, I'm...

It must be in my case. I don't think 2 contracts as opposed to 1 makes a huge difference when it comes to liquidity in ES, hehe.

I'm not sure who edited this post. I liked the original version better. It brought my attention to the fact that Benjamin Shalom Bernanke's first 2 initials spell B.S. Can't argue with the facts.

Thanks again. Careful what you wish for. I just switched from 1 contract to 2 this Monday, and so far, I am struggling with that increase in size. Another illustration of how a huge percentage profit in a small account doesn't mean all that much. Here is how switching from 1 to 2 contracts...

Thank you, ninja. To tell you the truth, I just got lucky. I don't know much about theory, not even enough to determine whether my trading style qualifies as a Momentum trader, probably not, though. From what I understand, I'm a what they would call a scalper. I just sit around and wait for...

Heheheh! I know, that's what I have been thinking about my $10k account. To the OP: How was your January?

I guess that beats my 98%. Then again, my profits cover my bills, so I can't complain.

Thank you, kinggyppo, traderpro, and jj90, for your positive feedback. (I honestly was expecting to get flamed rather than complimented.)

Personally I have always lived an extremely modest lifestyle, so my living expenses are low to begin with. I have always had a few months' worth of living expenses saved up to fall back on, never got into any kind of debt. I have been lucky in a way: For about as long as I have been trading...

It's probably not the most popular thing to say on here, but it is possible to make decent money by taking lots of $10 to $100 profits and a few $200 to $2k losses. You can average down once or twice. All you need is 2 prerequisites: 1. an edge 2. you have to be willing to cut that...