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You're getting whipsawed in this choppy period. Best to sit on the sidelines until a trend develops

yeah. I'm going out for Chinese food. This Chop Suey market has gotten me hungry :D

MXIM

A big Amen to that.

Most beginning es traders lose half their accounts in the first month. At least he's on the plus side and providing lucid commentary as well. What's your journal look like?

TWS isht kaput! Eine TWS das malfunckshun! (Apologies to any German speakers lol) Sounds like you logged into tws through their Deutsch front page at http://www.interactivebrokers.de/. Just a guess.

Great - thanks for your reply. Look forward to your posts.

I have tws set to trade 1000 shares by default. Once I changed the buy order line to 2000 (forgetting to change the sell line as well), and when I sold it I forgot that it was defaulted to 1000 and was wondering why my P&L was still going down after the sale. By the time I caught up with it I...

stocks: 1c/share up to 500 shares; 1/2c /share thereafter e-futures: 2.40/contract

That makes it the same cost as trading 100 shares of the underlying security, commission-wise. Gotta love IB.

We had a few good 5-point runs today. Gotta be quick on the mouse with the reversals. I trade the es using 2-minute bars. Too much can happen 5 minutes.

Allen - I read them! As a fellow es trader I enjoy what you have to post. Keep 'em coming. There was a question a few posts back about inside range bars - could you respond. Thx

Liquidity should be good, as many of the under-25k crowd will provide it.

I can moderate . . . what else . . . Technical Analysis. :D

I can't stand Bonds and his ego, and the way that city kisses his ass. Barry Bonds plastered all over Pac Bell. It's almost as if that McCovey Cove splashdown setup was designed just for and to glorify him. He hits a home run and the way he throws the bat and stands there and admires himself. He...

Very important is to get rid of any preconceived notions of what you think the market will or should do. It will do whatever the hell it wants and for no reason imagineable. Today the tan book comes out looking like hell. What happens? The market rallies. KLAC guides poorly - the stock rallies...

TWS is menacing when you first look at it but I guarantee that after 1 or 2 sessions you'll never look the same at another broker's order entry page again. It's great!

Don't worry about it. It's a common thing when you first start out, that as soon as you get that winner you want to book profits. As you get more confident in your abilities you'll feel more comfortable about letting them run a bit. Good job by keeping your losses small. Never be afraid to...

Ojo - In America we also have a saying: " You can never go broke taking small profits." :D As you get more experienced you can give the winners a little more leash; just always cut those losers fast!

Ojo - Im also reading your journal - I'll try to help if you have any questions. What timeframe do you work off of, the 1-minute bar? Have you tried the 5-minute? It's a little slower, and less noisy. This way you can let your winners run a bit longer. Just a suggestion.