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I would say real time is much more important than studying the daily chart. I also think that is why paper trading any technique is so important before "graduating" to real money. It is important you can see the setups in realtime as they evolve. One reason daytrading is so much more...

Quote me as much as you want. Always happy to help. Even though I wrote that a long time ago and had forgotten I wrote it, it still applies today. I have never found a way of consistently scaling in on ES daytrades. Doesn't mean it can't be done. On a side note, I don't think it is...

I guess negativity is a fairly natural by product of any net losers environment if that is you believe most ET traders are net losers. The funny thing is there have been enough threads over the years by yourself, Romik, Nihab, OldTrader, Spike, Steve46 and Lefty (to name a few consistently...

No problem. I just call it as I see it. ET is a fantastic research resource, yet people often don't see it. They focus on the negative. Whereas for me when I see a poster who seems to be a good trader I just search and read all their posts. I have learnt a lot over the years by doing...

I agree with what you say. A couple of points. I think any good system should still be net profitable even if you trade it poorly. So, if you only made 50% of decisions correctly it should still be net profitable. We are human and no one can or will trade perfectly all the time. I think...

Very tough because of the time zone to trade US markets. European markets are ok for half a session. I think the Dax opens, for example, at 6pm NZ time. Quite civilised really. US markets are a nightmare. I have been here for the last 6 months in Auckland and looking forward to returning...

Hi Gary, You might want to check out my broker as well. I will PM you the info if you want (so I don't upset the moderators by promoting a non sponsor). This week they introduced free real time charts. These charts are good enough for me that I am thinking of dispensing with my paid chart...

Indeed. I think he'll be back though.

Tough day to trade. My system produced no signals (got close to a couple of shorts but didn't quite get the confirms I need). It's been a tough week so far (for me). No trades on Monday, a good day on Tuesday and then no signals Wednesday. Hopefully it improves as Tuesday we had nice...

I used to trade long only equity options. You can do it successful, but here's my point. Before you do that you have to prove you can trade the underlying with proficiency. Long options when traded correctly are a way to leverage your stock picking abilities. However, I do think long puts...

I think what B1S2 is probably getting at is the fact that 90% or 95% long options expire worthless. Difficult game for sure, but not impossible.

I think what you are trying to achieve is very worthwhile and more than a little noble in spirit. Although it is a personal opinion of mine that the tools a trader uses to make decisions isn't really that important. It is the process that is important. You may want to have a look at a...

Actually, I would say the answer is based on your own trade research. You should know from extensive research what your drawdown stats are on any strategy and thus where the stop loss should be. But, I know the point you are trying to make. Don't jump down someone's throat so quickly when...

Just as a historical note, the reactions to FOMC minutes during 2005-6 have usually had a strong upward or long bias. I would be very careful about shorting around this report. Always take great note of the market moving reports coming out, especially when there is a big reaction to that...

You are absolutely correct. I used to work where I had a lot of contact with retail futures clients. I can assure you most retail futures clients do not have a clue about trading and are pure gamblers. If the market goes up they think you should buy usually near the top. If the market is...

Question: are you trading the signals you post here with real money or are you just simulating the trades? I enjoy the journal. Cheers.

The trouble when dealing with *most* customer service people anywhere is that they are not highly skilled or paid and can only come up with standard answers. If you ask them something that's not in their manual or script they cannot help. A bit like dealing with a robot, no judgement at all...

I don't think you should try and emulate Spike or try to do what he does. That's a fool's game. We all have to find our own way in trading. Remember it took him 5 years to develop his system. However, it is useful to follow his general principals of trading. Primarily his insistence on...

I didn't mean to sound aggressive. I understand your point of view. I guess my point is that saving time is not something you should look to do, despite the time pressures. It takes as long as it takes. Trading takes years to learn and not something that can be achieved overnight or by...

1. Think twice about trading the SPI, unless you only trade it during Australian hours and not US hours. It is one of the most illiquid futures markets out there. 2. If you adopt both strategies make sure you are taking at least 80% of your trades with the trend. For me, I think it is...