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Interesting. How to use stops is just another concept that reinforces that fact that trading is an art, not a science. A rule disciplined traders tend to adhere to is, "Stops can only move in one direction - in the direction of the trade." I think this is a pretty good rule but it's a rule...

Another way of predefining, or managing risk, is picking the right market - in my case the ES - and entering that market with a fairly sizeable account, and trading very, very small, relative to your account size, and let the leverage work for you. If the trade doesn't work on a short time...

Well, you sure as shit nailed this. The American consumer is leveraged to the hilt. The entire American economy is built on debt. Savings? What's that? No one saves, the government just prints more and the American consumer borrows and when they can't pay off their debt they borrow more...

Reaver, help us out with the emoticons. :D This one is probably best for sarcasm.

ET, always good for an EOD laugh.

LMFAO!!

Perhaps we should rename the thread to, "Is Alan Greenspan a Moron?" Helicopter Ben may be following in the footsteps of the guy who created this mess but I think this has all been very well orchestrated. Who better to try and prevent a recession/depression than one of the leading experts of...

Ben is one of the leading experts on the history and causes of the Great Depression and he is doing everything in his power to keep the country out of one. He is doing exactly the right thing. It will cost us through inflation but the alternative is unemployment and poverty. Big Ben didn't...

My apologies milehigh :( :(

Raise Rates? Why, so you can lose your job along with 25% of the work force? Go study the causes of the first Great Depression and come back and tell us again the Fed should raise rates. The Fed adopted a tight credit policy back in 1929 and they made a bad situation worse. Do you really...

You guys need to do some research on the Great Depression. If Ben wasn't pumping massive amounts of liquidity into the economy we'd be heading for a Second Great Depression, then you guys would be crying fowl because you're broke, unemployed, hungry, sick, etc....Big Ben has some massive Big...

ahhhh....my bad.

Alright guys, I'm posting my fills for the day with a lot of stuff removed. I don't want to give everything away :mad: Where on this chart did I try to "catch a move?" Nowhere. If you stop trading patterns, stop looking for trends, and just trade on hard facts you'll do much better. Most...

No. Some traders try to use ADX but that is such a lagging indicator it's useless. Think about using a strategy that buys very oversold areas and sells overbought areas. Don't put your whole wad on with 1 trigger. Since you are paper trading you can afford to lose lots of money finding your...

BSAM, aren't you the guy who believes the market is largely random? If you are the same guy I'm remembering you don't need mentoring. A random market is more tradable, not less. Just look for areas that are statistically extreme. PM me and I'll show you how.

Today was a great day to trade. Shit, they're all great if you scrap needing a trend.

This has blowup written all over it. What happens if you're margined 33% and the stock gaps down to a buck from, say...$10? Poof! Anyone who puts his entire account +33% margin in one stock, no less a penny stock, will get wiped out. You're not trading, you are buying lottery tickets...

Impossible to automate random buy sells based on your gut. ----->>> Exactly why automated systems work for a while and then stop working. There is no substitute for experience and judgment. No two setups are ever alike. It's the TRADER that makes money, not his/her SYSTEM.

A real trader can trade long or short at any given moment and does not really give a rat's ass which way the river is flowing as long as he is in the boat.------->>>> It's just this simple!!!

Based on my experience, the best fut's triggers occur when the masses have either sold or bought. If you study this market for a while you can just "feel" the panic and excitement going into a move. I know how to spot it because I've been on the wrong end of a move like that. I know how it...