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Serious bear carnage today! I may have miscalculated FAZ. If it goes any lower it will be off my radar. Wave 2 is not allowed to go below wave 1 and that is what we're seeing here. In real markets they can sometimes exceed these limits slightly but the confidence factor on this potential...

Full tilt, y0. :)

The gold trend is starting to bend. :eek:

Interesting price action tonight. The hourly is tracing out a megaphone. Grand Supercycle used to harp on this type of pattern.

I can't believe he just gave up. :(

A most interesting day, indeed! FAZ popped at the open, traced out a range, feinted a false breakout like a mongoose taunting a cobra, then puked massively to fill the gap. This is why I love trading. You never know what is going to happen next. Personally I think today's action...

Indeed, my good friend. If it works, use it. :cool:

FAZ has retraced most excellently over the past two days. Here is where it gets interesting...... It has now traced out the wave 2 on the hourly chart of the expected wave III on the daily. It pricked the .618 fib line in the last hour of trading today.

One of the Great Laws of Guruism: "The minion is always wrong" A Guru, vastly wealthy, just wasted 200 bux trying to get thru 2 u :eek:

So is "turtle"

The risk was not the full account, it was $108, unless you think the exchange itself is going to fail. AAPL is a lot more liquid than your ITM options. My stops are much more likely to be honored with minimal slippage on the stock itself rather than some thin market derivative......

I've already been down this road. And you know what the best advice really is? Worry about minimizing risk, not about maximizing gain. I'm comfortable with my returns. The only thing I can hold against stocks is they take 3 days to settle in a Reg T account. This, too, will pass. :)

I'm looking forward to the demo of Hershey's compound range trading method. I think it has a lot of potential, if some risk management were added to the manifesto. Mortal humans aren't allowed to know the future.

Find a profitable trader and study them in real time. You can do that here in the journals section, or if you're lucky and find a subscription service that is profitable you can watch what they do.

The holy grail is risk management. You can read all about winning traders in the Market Wizards series of books, and the traders all had low risk ideas in common. It's a state of mind. Being afraid of the market is actually a very good thing! It prevents you from deluding yourself into...

BUYERS :eek:

They gave me the platform for free, just data fees. Use your magnetic personality with the sales rep and see what you can negotiate. :)

I use Tradestation 9.1 and really love it. It can do all that (except HFT, if you mean professional grade nanosecond false bids and scalps).

HTR is an inspiration to me and I'm thankful he's showing us how he trades. I don't trade fx and don't have pairs data on my console. I see you edited this post since last night. I meant no disrespect. :)

Another view of SPY algo performance characteristics: