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------------- I think part of an edge is being able to adapt to the markets so its very flexible, as someone stated earlier, it may be based on price action therefore theoretically you should be able to change the parameters on the fly as the market changes. To answer your question, I don't...

------------------ Yeah, have to say learned that the hard way on the short side though (more specifically EBAY post bubble):(

Hi, Just did a google search on them (just found out about it last fri., never knew such a thing even existed) and was wondering how many traders out there actually believe they are responsible for manipulating the markets or is this just another conspiracy theory. Is their any hard evidence...

----------- Agreed, and i think such an event already occured during the .com bubble era/bust. Many people thought that the ultra high PE ratios were unsustainable and although they were right, they were squeezed out. Goes to show you the importance of stops:) I think whats amazing with...

------------------ Amitman, when i made that first comment i didn't read through the whole thread so it was just a general comment about JJVrat's advice. I personally simply use the Pivots as my basis for entry and exits (as this is usually where the maximum pain occurs and most stops are hit)...

------------------ Excellent advice and i must agree with you completely on that analysis rdhtci. The book by Dr. Van Tharp, Trade your way to Financial Freedom , clearly explains how slippage can and will distort your R/R ratios if you do not account for them (therfore a need to adjust your...

Just in case any of you guys think holding stocks long term is a sure win and you can't go wrong just remember what happened to Japan (Nikkei-225), 15 years after hitting its all time high it was a quarter of its value. Happy trading to all:)

------------ Agreed, completely (as its happened to me once too often and also one of the reasons i don't pay too much attention to winning streaks). One of the best books i read is by Van K. Tharp, Ph.D.,Trade Your Way to Financial Freedom. What i found particularly useful was the snowball...

------- Agreed, thats why i tend to hold on to losers a bit longer than winners. The key is to not hold on TOO long:) If you do a google search on "snowball metaphor van tharp" you'll see nice articles on this. http://tradermike.net/2004/05/trading_101_expectancy/ The Van Tharp book is...

------------- By your comments, "yet these sleazebags try to ooze out some of it." it appears you are the emotional type:) My friend it appears you are the one "to get your ass backwards" as you just stated "A stock may go down $1 in one session but in 2 days time it can regain a $2 price...

------------ Well, part of the reason I would guess scalpers are not so favored would be the fact that they hinder the price action movement. If you bought a stock at a specific price and you decided to sell it 10 seconds later for a 5 penny profit you obviously are slowing down the stocks...

I vote 6 even after listening to this Doom and Gloom "expert":) http://www.moneyandmarkets.com/Event/MoneyShow/83720.html You have to click Part 1. The Inflationary Recession (the guy is making sense:)

------------- Apparently you seem right by the definintion of JBO (http://www.sec.gov/news/studies/daytrading.htm). Thanks to google:) " Proprietary day-trading firms often enter into joint back office ("JBO") arrangements with their clearing firms. These arrangements allow day-trading firms...

-------------- As the previous poster advised, you should read a copy of Trading in the Zone by Mark Douglas. His definition is "An edge is nothing more than an indication of a higher probability of one thing happening over another." I would assume most people would agree with this...

------------- Agreed but its about time as well;) To quote Marty Schwartz in Jack Schwager's Market Wizards, "... Also, I hate the specialist system; they are always trying to con you to death. I'll give you my view on specialists: Never in my life have I met a less talented group of...

------------------------ I had a similar question before and the best explanation i got was recently after having read the Market Wizards by Jack Schwager (a must read for every aspiring trader IMHO) at the appendix it states: "Whereas the buyer of a call or put has limited risk and...

------------------------------------------- Excellent points you have made there (couldn't agree more;) and just wanted to stress the importance of answering those questions when deciding on finding out the better deal (one has to do a cost/benefit analysis on their previous trading data and...

----------------------------------------- Very true. I think this tendency is in all traders after a losing streak. Wanting to make it back too quick. To quote Mark Douglas, "Believe that each trade is a unique event with an uncertain outcome and random in relationship to any other trade made...

"Just on your point about taking your profits quick and cutting your losses slow can you clarify what you mean by this. I'm trying to get better profit exits seeing its a short term hold but how do you decide to close a winning position quicker than later without breaking the let your profits...