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One thing I am having a tough time w/ is when we have, say a down channel drawn with our 3 pts. Then a bar or two prints fully outside the RTL, but then price goes back and continues to traverse in the original direction (down). We then recycle pt 1 to alter the channel. How can we tell in...

I'm not trading NYSE anymore, so I'm not worried.

For those that are not profitable under the new hybrid market, moving to nickels would be very bad...you'd lose 5 times faster :D

You know why this happened right? Bernanke spoke at 10:00

Misery loves company :)

My esignal just crashed and I lost my entire days worth of annotations on both YM and ES. All that hard work, poof, gone! I guess I can redo the day but this is frustrating.

I agree, the prop firms could do this back in the day because commish were pretty high but also the market moved so much more that they could get away with high commish b/c the potential for the prop trader to earn was still very high despite the high commish. The market has changed a lot in...

Thanks Jack and Spyder for answering my ques.

Hi Jack, Would you mind expanding on "antiwhipsaw"? Thanks Steve

Thanks Bundlemaker I will read the channels Pdf again and hopefully this will clear up my mental block :)

I agree with you about using pt 1 for the red channel, our first of the day, and the brown channel that shares the same pt. 1 is also clear for me to see and understand as this give us a slightly more "zoomed out" view and smooths out pace as well. I guess maybe the orange channel is something...

I can see conceptually from the chart what was done, but channel drawing rules seem to change or maybe I dont know all the rules fully. When did "recycling" pt 1's become ok to do? I guess I just dont understand why there is an orange channel on this chart in the first place. It looks like...

Yes, but why?

Spyder, Thanks for the answer to the YM ques. I just have one about the 5 min ES from Friday. Why was pt. 1 for the orange channel chosen from the 9:35 bar and not the 9:45 bar? I understand completely why it was pt. 1 for the brown channel but not the orange. Can you explain the rationale...

Hey ST, I'm a little confused about a channel on this 2min YM. Starting from FTT @ 11:48 (red channel). It looks to be drawn w/o a pt 3. Can you explain why you drew the channel this way? I can see this working if we use the 12:00 bar as pt 2 and 12:18 bar as pt 3.

I had a little CCC formed on my YM starting at 12:09, volume was very light. YM broke down out of CCC at 12:23 on rising selling volume. ES trading at 1453 at this point. I then had a down YM channel drawn in where I spotted, on my chart, a possible FTT at 13:17 on YM, ES trading at 1447.50...

The OP will never tell you how he was underwater for ahwhile with most of his positions deep in the red before the market rallied. No exit strategy and basically "going down with the ship" mentality. Had the market kept going lower, I guarentee Stock trader would not be posting on elite...

what are you trading? equities, futures, forex, other?

yes, if you want to receive the leverage they provide.

Not to mention that fact that, if you have a successful style, it makes sense to put up your $$$ up (5k/10K) at a prop firm and trade remotely b/c you can get much more leverage than you would retail.