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"It takes most traders a long time to understand the significance of S/R. While a rookie will wait for a resistance level to be violated before they buy, the pro's short resistance. Likewise, a rookie will wait for support to be penetrated before they take a short position. The pro's buy...

After I got my sanity back on 8 Oct I made a great little trade. After that decending triangle breakout, price moved sideways for a while. Then I saw someone trade a wagonload of contracts (shown in the blue circle). Went long right there with my stop just below the low of the day. Sure...

"Nobody is better equipped to ignore obvious things than the highly educated." --MAXPI

aieeee.

It's a holiday weekend, even though the NYSE was open today and will be monday, some of the pits in Chicago were on a 1/2 day Friday and will be closed Monday.

Here's the distribution of MFE's I got this past week and last Friday. Looks like a gaussian tail up to +2.5 pts. Just by eyeing it, looks like if I take +5 for one ctc then close the second with discretion, I can capture more of these potential gains. Case in point: there were...

Hi Sam, well, i'm partly irrational, but besides that, on the micro-level all the entries are the same. In other words when I see price down at the 18 SMA on one of the four charts, or price heading to an important S/R level, I switch down to the "tape reading" 10 tick chart and look for the...

Ambush vs. Confirmation - Preliminary Results ================================ Avg. risk (difference between open and initial stop) reduced from 3.7 to 2.4 NQ pts Avg. loss per losing trade reduced from 2.7 to 1.8 Avg. maximum favorable excursion (MFE) increased from 1.5 to 8.7 (!!)...

Taken from yesterday's Innerworth newsletter: ================================= Sometimes success is a matter of making the most of a few key moments. Those hoping to gain acceptance to a prestigious college, for example, must perform well for a few key moments on a standardized test...

Here's the newsletter. I guess "CME Financials" referrs to the pits. Also closed Monday. Looks like a good day not to trade. ======================== This Friday and Monday we will be observing modified hours in observance of Columbus Day. ALL TIMES LISTED ARE CENTRAL STANDARD...

You have discovered the true secret of trading: no one can predict the future. The right way of thinking about it is laying down a trap, so if the pivot is honored, you're already in a great position. If not, you know right away, and you only lose a little bit.

Thanks.. maybe I misread the newsletter I got last night, or it was wrong. Best info direct from the source: NYSE Market Holidays Curiously it does not list today as a 1/2 day. :confused:

Issaic Newton wrote about the madness of investors... what makes you think it's ever going to end?

Yesterday: 4 crack monkey trades, 2 good trades. Today: 1 crack monkey trade, 2 good trades. After yesterday's fiasco, I start the day off with a trade not in the system. I woke up only 1/2 hr before the market opened, still very tired. After banging my head against the desk I pulled...

It depends on what you goal for the trend indicator is. For me is it all about the overnight hold. If I latch on to a good one, I'll hold if it's in the direction of the trend. I figure if nothing in the market changes, i'll make more money. Inertia to my advantage. Also, since I am a...

Reflecting on this again. Something to keep in mind for when I grow that huge pot of cash. I've read a lot of stories about traders making it big and then blowing up. In poker I just discovered I have the same problem. When things are going great are the most dangerous times. Last night...

Six trades today, most of them bad, meaning looking back I don't understand the rationale behind the entry, or I can't believe I went against the odds... due to ambush entries, I didn't lose very much, but SIX TRADES is ridiculous for me. I must have been high from that little winning streak...

"Position yourself so that you can't be knocked out of a market by a few setbacks. Continuous involvement prepares you to take advantage of any good opportunity that arises. It also contributes to your self-confidence. It creates a safe environment in which you can experiment and learn, knowing...

Sorry, I didn't have the poll for the meeting time configured correctly, it works now. Also I am moderating all the posts to prevent us from getting spammed. I noticed a bunch of you signed the "no email" option. You might want to try the "daily digest" which would send you one email a day.

Click on the link, then add yourself to the group. Take the poll about the meeting day. AustinTraders E-mail Group :)