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When morning trade setups are clear, I take them. If it requires more than five seconds to make a decision, I pass. This morning for example had the ES on clear buy signal off its daily pivot point (per the method I use) while ER was neutral to confused in its chart. I bought the ES at...

<b>cm69</b>, you need to trade small enough size so that it absolutely does not hurt if you lose any trade or not. Please don't mistake that for not caring about cumulative results... but what you are describing is a fast track to burnt out and done. Can you imagine living exactly like this...

For those who asked, I keep handwritten records of trades only because I'm a technology idiot... cannot operate Excel, Photoshop, even my camera cellphone is a mystery to me. Someday I'll learn all of the above, but haven't done so yet :confused: * I kept the records this year to see just...

FWIW... I keep records of personal trade performance at different times of the day. My highest win % and gross profits come during the period of 10:01am ~ 11:45am EST entries and then again between 2:00pm ~ 3:30pm EST entries. The 9:30am ~ 10:00am stretch is profitable, but win % is low. The...

This morning the ER and ES bottomed near S1 values on gap-down <i>against the trend</i> openings, which were what I'd consider aggressive buy signals. Then ER gave buy signals near 765 and 766 while ES gave similar buy signals near 1373 and then 1374. Once the ramp upward halted, a fine...

If all financial market-reporting channels went off the air forever, all traders would make a lot more money over the course of time :D

I trade both the ES and ER... each behaves quite differently off the open. A lot of days, the ER makes 3pt to 6pt directional moves while the ES sits still and goes nowhere. One pattern we'll see over and over again is the habit of ER moving off in the direction it gaps open towards. In other...

<i>"How can you beat free? Just keep in mind his methods do not work quite as well as..." Time and effort -- not to mention losing money -- have value. That is no "free" lunch. I won't go into all the erroneous assumptions about trading for a living that are being bandied about there. If...

First of all, I'd like to thank everyone for sharing a wonderful, insightful conversation here while remaining perfectly respectful and courteous. Isn't that a pleasant change from too many other threads here? Thank you for that! * I think scaling out for stock traders playing multiple...

The reasons given for scaling out of trades are usually based on emotion: release of tension = stress of unknown outcome with real money at risk. The mathematical part of scaling out versus letting profits run is quite easily examined. Even micro-scalpers (of which I am not one) need to ride out...

While I watch the charts wedge into typical index-option expiry death coils, let me add a couple of thoughts: #1: In writing countless mechanical systems, every example with no exceptions showed diminished overall profit AND smaller profit per trade size using a scaled-out approach. Why...

<b>Ripster</b>, I'm not sure who you're venting at there, but those prices sure ain't me. I am truly sorry you washed out of our profession. Sad to hear that. My sincere condolences. Please take great care of yourself now, ya hear? Be good :)

There are better forms of self-therapy, ya know. I wish you well in your transition away from the financial markets. There's a lot more ahead of you in life than merely this :>)

<b>Ripley</b>, if you cannot find a way to make money trading, why the hell are you even here? I mean seriously, with all due & utmost respect... what attracts you to this forum? If you honestly believe what you write, I respect that completely. I'm also confused why you are amongst people...

<i>"Day trading is a losing expectation game. I recommend not daytrading and then you won't have this situation."</i> Too funny :p

<i>"So, what does a successful trader make? $100K for sitting infront of the screen grinding out for the whole year. Even beggers down in NYC slums can get better returns for their time & effort."</i> Are those audited figures on a statement? (huge laugh) Ripley, you are far too...

<i>"Then leave that cash in there for the next 20 years and ignore it. Yep. Dont touch it. Think of yourself at age 40. How do you think a 40 year old clone of yourself will give you direction in this regard? I think he would have said to invest it into these dividend producing companies."</i>...

<b>Paris</b>, with proper disclaimers in place, I see absolutely no problem with what you shared with everyone. Please emphasize the 13yr trading experience and fact that what you do is advanced-level tactics. When speaking to the public, we have an unknown number of people who trust what...

<i>"Furthermore, in regards to increasing size after a loss is concerned, your acertation is incomplete. As I have mentioned many times here already, you can actualy increase size while decreasing risk... its just a question of running a tighter stop and in low volatility conditions this can be...

<i>"I have been day-trading for few months with minimal success."</i> No trader has ample "gut feel" for any market after trading a few months. One hasn't even seen a fraction of differences in price action between rallies, selloffs and consolidation periods. All three are extremely different...