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If you do have to keep trading at least keep your eyes out to the downside. Looks to be forming a continuation pennant to the downside. Be safe though.

Very good site. I liked the one What if Bush was a Jedi.

Good job. Now shut down your platform and go into simulation. While you are in simulation you can work on your exits. But the most important thing keep the money you made. 4re

Way to go Frost. Discipline is the hardest part of trading. Everybody struggles with it. One thing that always helped me is that I had a standard rule. If I have a bad day that is alright. But if I have a down week I had to spend a week in simulation. I only spent one week in simulation and it...

Volente, I also recommend every trader to read this book. It is great and has changed many traders. I also came across a book this weekend that has been a very good read. Not much new info but it seems to cover all bases. Psychology, methodology and is laid out in a very easy format to...

Point taken...Just a question, do you have to day trade? You could do more of the Dan Zanger method where you trade only stocks but hold anywhere from 1 day to a couple of weeks. You can even use some margin giving you a little more buying power but a lot less margin than the emini. At least it...

Romik, For me, being a breakout trader volume was very important. But I was just looking for quick scalps sometimes only in a trade for 3- 10 minutes or until I got my 2 points. I wouldn't expect it to be as important for the positional guys. 4re

Now we are making some sense. I used a similiar approach except that I used the simulator feature on e-signal. I think the real key to this is that you try to feel the same pain on a loser as you would if you used real money. BTW Frost have you ever thought of maybe choosing a stock to...

If we are talking about wisdom and not trading skills, I would think a person could gain wisdom from either side. But no amount of money is won or lost is going to buy you wisdom. This person needs skills, discipline and experience. Just my opinion... 4re

I still think this person has more problems than being underfunded.

Wrong answer. This person has no discipline, no method for entry or exit. You throw more money in an account and it will be gone even faster than the 5k. It doesn't matter right now if he/she has 40 or 50 million. Now, if this person had a successful method, discipline and was planning to...

Frost, I am sorry for jumping in here but I have been watching since you set up this journal. Your trading method (or lack of) is in serious need of an overhaul. You need to sit down and lay out your whole method from start to finish. You keep having troubles with your stops but your entries...

Hey Guys, I have traded options for quite some time. I only use strangles and straddles as my method. I would say the answer to this is yes and no. Or more accurately it depends on the stock you choose. You have to understand that when using this method it is going to take a larger move either...

The important thing is that you find a bonafide trading method that works for you. Like I said earlier, as long as it is well defined. It doesn't matter what the method it. For me I have studied breakouts for 15 yrs. All different kinds of breakouts. I feel very comfortable trading that way and...

Floortradr, I tend to use the 20 and 60 day EMA if I am looking for the crossover. If I am just trading with a trend I mainly focus on the 20 day. I think with practice you can really use any of them though. I would just use the one that fits your needs most. And just for a note I don't really...

Jimmy, This casino analogy is from Mark Dougls, I sure wish I could take credit for it because he is right. And you to are right on the mark. As long as you treat it like a casino. I.E. A set of defined rules. And if you can not define all the rules it doesn't work. But one once you define...

Jimmy, What breakout are you talking about? I had short at 1259.50 which it sailed through. Long at 1271, which it never reached. BTW, no I didn't trade it but I do still watch. 4re

I just started my second company and right now it is taking a lot of my time getting it off the ground. So I had to put futures on the back burner for a while. I'll be doing some long term option trades until I get freed up some. 4re

Hey Jimmy, I knew what you were saying. I was more trying to answer this question from Floortradr. About S/R being hit or miss. Sometimes it seems that way if you are not picky about your S/R levels. Good Tading today, 4re

I think you are right on here. The only thing I would add is that a lot of times will power turns into hope. Once you are in a trade hope seems to always kill it for you. What is needed is a defined set of rules for every trader. Then the hard part, follow it. 4re