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Amen...Brother.... If you absolutely must scale out...then PLEASE make sure that your FIRST profit target is at least 150% to 200% the size of your INITIAL and FULL stop loss......otherwise, you will be enabling your losers to be larger than your winners.....

I saw that hammer big time as it was forming...anyone noticed that the $VIX is at extremely high levels while the market has ONLY retraced 9%....plus the world is coming to an end because of sub-prime..... :eek: hmmmm....feels like a bottom to me...time will tell

Ditto.....Market Internals are lagging....and sometimes inconclusive...trin going down..but market going down too...been there done that.... Follow the price action.....the market is either making higher highs and lows....or it is not...internals can't be as straightforward as that.. I got...

Razor...you should also probably focus on the old adage "let your profits run".... A metric that I use is that if I am not profitable after 10 trades, then I'm doing something wrong, and 8 times out of 10, it is because I'm not letting my profits run.... I don't know if you are doing this...

Anek..actually, I don't use that canned Tradestation showme...I simply "eyeball" the chart...the default setting can, however, be adjusted.... Symmetrical triangles appear to show up easily (FOR ME) on the 15 minute and 7 minute BAR chart....and I emphasize BAR CHART....place both charts side...

FWIW Tradestation has a Penant Breakout Showme study that can be adjusted to pick up some symmetrical triangles... However, I believe the best software on the market is "your own Eye"...imho

wow.......position size software for a kick-ass trading system....what a trade..... ..I can do you one better........I'll trade you our nuclear secrets for mangos :D

I'm hungry already :p

"You should either make a business of trading or else not try to be a trader. You cannot be successful at trading any more than you can be at mining, manufacturing, doctoring or anything else, unless you are trained for it…unless you are peculiarly adapted to the business you are better become...

Scalper21, I'm a russell trader as well... Do you also look at time and sales for the russell?....for instance do you look for block trades (i.e., more than 10 contracts) occurring in the direction of your setup to confirm your entry? or after you have entered, block trades against your...

so are you still trading your s/r strategy?

don't forget about the russell...the russell and ym are highly correlated and they move together....but...1 russell contract is equal to 2 ym contracts in terms of tick value, which means half the commissions...... in addition, the russell is just as liquid as the ym....

709.70 was hit..scratched out on the trade... I'll take a scratch over a loss any day.....

looking to go long the russell above 709.60 if it happens....

ouch....don't sweat it...you'll make it up in no time...... how's your YM testing coming?

scratched on the russell...russell is choppy this am..

my levels for the emini-russell... I will be taking these if the momentum looks good before the breakout...... long above 728.50 short below 702.00

watching these s/r levels on the 30-minute russell... long above 722.60 short below LOD at 706.30

futures trader- I will enter the trade 1-tick above the entry levels posted.. I use S&P pit noise to filter the trades before I take them (you might want to go back to 6/2/06 and 6/3/06 where I explain how I use pit noise and my stop rules)......for instance today, I took an s/r russell...

My emini-russell levels for tomorrow: Long above 718.40 Short below low of today at 702.60 any comments greatly appreciated :)