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Snugglepuppy, be very careful fading the market during the last hour of the day. You saw what happened yesterday. That kind of a run happens frequently so be careful during that time. The best fade setups tend to occur at 30 min intervals right after the opening bell up to 11am ET. After...

So you are buying after the market has fallen and selling after the market has risen? Dude, you have no idea how far ahead of the curve you are. This is great stuff. If you keep this up you are going to get your clock cleaned but it's a necessary part of the learning curve. Manage risk, use...

Exactly right. Until you have been through a major bull and major bear market you don't have enough experience. I traded through the entire bear market post-2000 and I got my royal ass kicked. Been there, done that. This time is different. There is no substitute for experience...

Excellent point. Going short just because the market is up is not usually a good idea. What are you going to do if the market continues to rally into the Fed meeting in anticipation of more rate cuts? The Dow could be back to 13,000 before next Wednesday is over. Guys, just trade what...

From what I understand, the only advantage to running one offshore is if you have international investors but I'm not an expert in this field. Your better of using and LP rather than an LLC but you should form an LLC or S-corp to serve as the general partner for liability reasons. The costs of...

This chart tells it all. The market went limit down overnight then the price was supported 1 tick above that level all night. Then Ben and Co cut the rate shortly before the open. Coincidence? Hell no. This was a well orchestrated plan. The FOMC/PPT, whoever they are, profit from these...

Call your previous employer and ask them what they will say about you. Legally, they cannot stand in the way of you earning a living. The cannot prevent you from supporting yourself. If they do you can sue them. Don't approach them this way however. Just tell them your situation and ask...

Exactly. I was making a killing trading Dot-com's back in the go-go days and then the rug was pulled out from underneath me and I cried fowl. Now I'm a little older and a lot wiser. I took my $300 bucks (I ain't even telling you what I started with) and closed my account. Then I went on a...

Why are you so worried about "someone else" losing their jobs? This is all part of the business cycle. And if someone else lost 2M in one day then it means someone else (or a group of someone else's) made 2M. All the market does is transfer wealth. And whether manipulation happens or not...

You're too bearish Batman. Last week you were screaming manipulation, now it's gambling and greed. True, all this shit happens but WWIII tomorrow? C'mon man, it's just data. Don't be a bear, don't be a bull, just be a trader. Who cares where the market goes. Strong opinions like this...

Many who are successful trading come over here between trades. Trading is a very lonely sport and ET helps traders fill that gap. Any you are very, very right. ET is very amusing.

Why the government equates wealth with knowledge I'll never know. If the government really wanted to ensure people knew the risks of day trading there should be an educational requirement, not a monetary one. No one can say for sure if the gov't is trying to keep the little guy down but if...

Nah, this ain't stock_trad3r. His position is pretty well thought out.

Interesting. I haven't had a chance to read the book yet.

And tomorrow, if we go limit down I will not hold my shorts into that event. The Fed will probably be buying the piss out of the futures before we hit that and then they may do a 3/4 point cut. Be prepared for anything because absolutely "anything can happen."

Exactly. The Fed is the buyer of last resort and why wouldn't they want to profit from it. The FOMC stands for Federal Open Market Committee. Or, as we affectionately like to call them, the PPT. It's not a myth. It's a simple matter of fact. The FOMC conducts its operation on the Open...

And last but not least, the intra-day chart.

And...if you were watching this day very closely, and you have a good memory, you'll recall the Dow was at all time highs and a wave of relentless selling came in. Every freaking uptick was sold with reckless abandon. Someone was getting out no matter what. The selling kept coming until the...

Was it coincidence the Fed cut the discount rate by 0.50 the day after this huge reversal candle? Did Ben give C, GS, MER, et al., a nod and a wink? No one really knows but it was awfully suspicious.

The effect would be offset by others recognizing their selling as an opportunity to buy.