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Money is made on exits, not entries. Most beginners concentrate on the entry strategy and give hardly any thought to exit conditions on their trades. Deciding when and where to get out (both with stops and profitable trades) is the key to winning.

I can't tell you exactly what your trading system should be, but basically here is how you need to break things down: 1. Determine somehow whether the market is trending or range-bound in your chosen time frame. You'll have to figure out for yourself how to do this. 2. Assuming you decide...

Read this post. It might help you to understand why you always fight the trend: http://www.elitetrader.com/vb/showthread.php?s=&postid=2560363#post2560363

Do you see the inherent problem here? You are not confident in a system, yet you are using it to trade real money... are you nuts? Go on a simulator and trade your system until you ARE confident. Simulators are for testing strategies and gaining confidence in a system. Live accounts are for...

Your problem isn't shorting, your problem is fighting the tape. You have a preconceived idea in your head that the market "should" go down, and so you keep trying to trade in accordance with that idea instead of reading what the chart is telling you. The chart has been saying "strong uptrend"...

Why? Just buy it! Repeatable patterns are like money in the bank.

Congratulations - you have made it to my ignore list.

Not likely. If GS got an exemption and could still run their HFT programs, it would be seized upon by the opposition candidate in the next congressional election. The other side would make a case of it - they look for these types of things.

I won't bother to respond to your ignorant comment. And I don't need a "real job", I will do just fine whatever happens. Thanks for the sentiment though.

I really don't think it's going to happen, but it doesn't hurt to fight it anyways. But just in case it DOES actually happen, it might end up actually having some advantages. A very small tax that eliminates HFT but doesn't hurt intraday traders may cause the markets to actually become easier to...

Darn - I must have missed that meeting!

No, no... you can't call him, that would be too quick. You have to write a letter. That will give you more time to think about it and make sure that you REALLY want to make such a rash decision.

Taxing transactions to any extent is just about the stupidest idea anyone has ever come up with. A tax like this does nothing but inject glue into the gears of a financial machine, making it less likely for to people to transact and conduct business, and reduces overall liquidity. I fail to see...

Let's just ask big daddy Warren Buffet to decide. He's soooo smart, he must know what's best for all of us!

A much better idea would be to never put yourself in a position where you are anywhere near approaching max pain. That's what stops are for! Anyone who is still taking large losses, for ANY reason, still has a lot to learn about trading.

I agree. Overbought and oversold are generally used in technical analysis in the context of oscillators, like stochastics. So when the stochastics reach the upper end of their range, you can say that the market is "overbought", and vice-versa. In a range-bound market, this means there's a...

He's never traded before, and thinks he knows what he is doing. Doesn't want to listen to my advice, when I told him how hard it was going to be. He went short at 965 and again at 995... has to learn the hard way I guess!

95% of traders are not long. There have been lots of people warning about divergences and looking for a top. Heck, we had a thread about that running just yesterday. My clueless friend has been trying to pick the top all the way up. When he stops buying the inverse ETF and starts going long...

What makes you think they can do that, exactly? Sooner or later the public will find out about these loopholes, because they will be obvious. Somebody will report on them, because somebody will stand to gain politically by pointing out that their opponent voted for a bill which exempted big...

The point we were arguing wasn't whether there would be a tax or not (although I really don't think there will be). The point was that someone said that we would be taxed $250 per RT on a futures contract, and I pointed out that this could never happen. A smaller tax, possibly - but nothing that...