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An important observation is that techniques that work well in one itme frame, do not necessarily work in another. For example, trading a moving average works all right if it's at least a few days long, but I have never seen, say, an hour long moving average work as something to trade by itself...

If there are two traders who are trading the same method(s), it could help a lot. They help each other stick to the program. Every time i'm ready to jump on a "new kind" of (losing) trade, I have to argue with myself. The guy who I argue with looks something like this: "Hey, I know...

Amen. Covered calls, or writing puts with full cash backing: low risk, slow and steady cash producers if you are a good trader. You need to have everything mapped out beforehand: what happens if it closes at certain prices-- do you close the options, dump the stock, take the loss, etc. etc...

Well coming off the pretty good hammers reversal thread, it's high time to discuss candlestick continuation patterns. I have zero knowledge in the area, perhaps someone could name a few, I could check 'em out and post the results. These could be for intraday or for the daily charts...

QCharts has a very nice feature you can use to get S/R yourself.. it is called "volume at price". You can draw horizontal lines that correspond to volume peaks on the various time scales. I have found it works very well. I think they are offering a free month so it's a good time to check...

One thing to watch out for is bet size. Before I had confidence that I could make winners again and again, I would bet large. Once I had confidence, I bet small. To see this effect in real time, and also the account killing "revenge trading" effect, observe a blackjack table.

By the number of outta shape guys I see in floor footage, no.

Have you considered another (uncorrelated) market instead of adding contracts in your current one?

Whatever algorithm you program should act like you trade. In this case, the algorithm would model reality very well if: after buying, you take no action until the open of the next bar if the open is less than or equal to your stop you instantly market sell if the open is higher than your...

The numbers you are talking about are overnight maintenance margins. I don't know what the rules are for intraday. There are several brokers offering $500 intraday margins on eminis. Advanced Futures is one. Personally I think it's crazy to trade like that. I trade with 5k per...

If you apply your system on a longer time scale (i.e. not limited to day trading) you won't have those problems. I have found that I can get the NQ filled at the opening price of a 5 minute bar almost every single time, with a market order. I watch the clock... 5.. 4.. 3.. 2.. 1.. click...

mine works fine. It is about 1/2 sec behind the j-trader feed from RCG. DSL modem.

I mean have two methods, one for home runs, one for high average, and trade both as the situation permits.

I've got a good 'home run' method... now trying for a 'high batting average' method... It would be nice for my head to have both.

Santa Fe Int'l (now merged with another...) back in '97 when oil was going for $12 a barrel. Bought at $18, called the broker a few days later.. he sounded like he was mocking me... "down to $16, NO volume" Shortly down the road it hit $20 and I started writing calls.. Sold the last bit...

How would you feel if you follow your rules, take some losses, stop trading, and then the winning trades are on parade, by your rules..? How would you feel if you don't follow your rules, take some losses, stop trading, and the the winning trades are on parade, by your rules..? I would...

I don't know the answer to your question, but you can avoid the question by keep your old account open with a minimal amount of bux in it (like 0) until tax reporting time. "Account minimum" means minimum to trade or open the account, not to keep, usually.

First, I don't have experience trading flags, but here's what the Bulkowski's book says: Out of 144 flags, 130 were consolidations and only 14 were reversals. Sixty-three percent meet the target price (avg price in flag - price at start of trend). Sounds like it's a good idea to go for...

You answered your own question. -2 or +4. Not 0. Stick with your method. Your method may call for exiting early if you see certain signals. Make sure you've got those written down before the trade. Otherwise you might find yourself 'inventing' some while the trade is on. In my own...

That makes two of us. At least, if my ass is handed to me, I'll be in good company.