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Pretty bad day overall. I got rid of my cocoa at 3021 for a decent loss. 4 ES sold at 1361 for a decent loss. 9 CT-MN8 covered at .7370 for a large loss. Only positive trade was my 3 pound contracts which covered at 193.6 for small to decent profits. I have identified several mistakes that...

The natural gas order filled but the high of the day was 12.990, so I missed my exit order by .010. Ironic that this would happen in this market because I remember my first momentum order in NG exit on the highs of the day with only .010 to spare and I noted that this was too slim of a margin at...

The risk reward in all markets is now poor. Normally I would sit out and wait for a dip or rally siuation. Fortunately I now have momentum orders to scoop up trades that flow strongly to the side I am in support of. This puts me at risk of same day rally reversals but I try to positon my...

Hi Medowz, the SL and ML can be duplicated on a 3, 10, 16 MACD that uses SMAs (EMAs are standard on MACDs) It is very important that the lines are SMAs so we can learn to anticipate or "read through" them. EMAs have a more complicated formula and while they may be more reactionary, I don't think...

All positions did well today. I covered my euro contract for a small profit at about 1.5450. The pattern here is too neutral to stay short. Price is at resistance, there is no trend (or if anticipated it is slightly down), dollar index has had a sharp down day which worries me of the upside...

New balance is $81,800. Great start to this journal. Bonds and notes did not hold their gains on this good sized down day in stocks. Additionally the pattern is very negative and the ML is strengthening to the downside. I am shorting 4 notes contracts at 112.17. Euro is also pretty...

These momentum orders are incredible! I had short orders set to trigger on Yen at 9.19 and gold at 861. Neither one triggered since today was a good sized up day in most markets. I had long order on the energies. Natural gas was set to enter at 12.650 and exited at 12.770 which hit close...

I’ve noticed in the past that I often give back some profits following a period of good trades. I think this is because the risk: reward tends to deteriorate in about 70% of trades but strengthen in 30% of them. That last 30% of trades can be the most profitable, but distinguishing them is...

4 am update: After looking at the cotton trade again I decided that making a case for shorts required too much speculation. Pressure could easily be to the upside and if it is, the ML will strengthen to the upside. Sidelines is indicated here. I also decided to sell my single copper...

I took decent profits on one contract of yen at 9.376 and 4 contracts of cocoa at 2870. Silver had a very nice down day and I decided to cover at 17.090 (shorted at 17.575) The silver trade was especially tough to cover but my new motto is better sooner than later. I also wanted to hold the yen...

I recommend his newer book "Trading Day by Day"

Chick and I spoke about this. One reason was that the letter took up a substantial amount of his time. Another was that his book sales and subscription service never really sold that much. He was upset about this and rightly so, there are other books and subscription services that are garbage...

As mentioned before I’m converting to full swing trading instead of trying for some longer holding times on positons that I see have big potential moves. This is just too advanced for a new trader to attempt to read or deal with. My new timeframe for holding will be about 1-4 days or so. I...

I am looking for a way to spot certain bars on my daily charts. Assuming that the most recent day is bar #1, I want an indicator that draws a lightly colored , dashed line vertically through bars: 3, 10, 16, 40, 49. I have the main price window as well as a separate window for an MACD, and I...

That is the nature of swing/position trading. I didn't get that $3000 gain by keeping tight stops. I have to put in my positions and let the market pull them around until I feel that the risk/reward is not good towards my side anymore. If you're afraid to give back profits, you just can't trade...

About neutral overall day for me. My last bond contract hit its stop. I got very good profits in this market. My 2 ES contracts plunged on today's down day and hit their stops. So I went from good profits (about $3000) to a small $200 loss. This is why I don't check my balance every day. I...

This is about as good of a day as I can hope for. Stocks went up like I anticipated, bonds went down and cocoa held its ground (I entered 4 at 2808). Only issue is with copper which rallied a little bit today. I felt it coming so that makes things a little better, but it’s always uncomfortable...

Correction: Yen is concurrent to the downside so I am going SHORT, not long, one contract.

Thanks guys, feel free to post any time. I got out of my crude contract for a loss at 124.49. My limit order for cocoa did not hit. Cocoa held even today which Chick noted makes the picture even more positive. I may go in at market tonight. ZB performed negatively today. After a 3 day...

Hi slacker, I place stops based on resistance levels. Stops are usually fail safes to prevent against very sharp selloffs. The losses I "want" to have will not hit the stops but be exited manually by me the next day. (unless I feel like the trade deserves more time which is often the case...