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The ORB is a useful concept to know for trading stock index futures. Toby Crabel’s book, which was very hard to get a copy of in 1999, made a big impression on me when I read it. A single 5m bar is too brief to be considered as the opening range. Around 6 bars (30 minutes) is a good period.

I appreciate the clarification. The stop loss is a sacred cow. You have an impressive collection of quotes in support of that and give two examples of losers who refused to believe and got what they deserved. All is well.

If you are referring to me, Gumby, I’m not shouting anything. I responded to a person who deserved a thoughtful answer from me. Yes, letting a trade go -50% would be stupid and you should use a stop loss since that is your fear. It’s difficult to be rational when trading scared. Use protection...

No offense taken. Investor or trader doesn’t matter. The money is all figured as capital gains at the end of the quarter. Thank goodness for section 1256.

I won’t object to that label. Ya gotta be in to win. I am an investor with impeccable timing.

It’s a formula. GIGO I explained it a couple of ways. I’m out of words. Already answered. Don’t over leverage.

I thought my post was unambiguous. You must have skipped over the part where I said I don’t use stop losses for futures and my rationale. I also gave my rationale for using stop losses in my stock trading—I cannot monitor my positions as I do for futures. Relying on a stop loss is a poor way of...

Burger flippers are set to make $20 per hour starting next April. Gonna need to come up with a new put down.

I have no suggestions. Day trading stocks isn’t my thing. It used to be my thing when the market structure was highly favorable for day trading stocks. That was back in the late 1990s before decimalization. Now you have dark pools and sub-penny trading. Day trading stocks looks to me to be a...

You asked what should you do. Lacking any details, I don’t know what you should do. I didn’t take your post as being argumentative and I would like to be responsive to your question but I’m not sure how. Here is my attempt. I know you trade stocks intraday. I trade stocks for longer cycles. I...

I don’t know. What are your choices?

Good discretion plus good execution skills (tactics) make a considerable edge. Risk management can be reduced simply to not over leveraging. A stop loss is a poor way to manage risk. R:R ratios are a joke.

Have you looked into open interest?

DRS stands for Direct Registration System. It is an alternative registration method for people who don’t want their stocks registered in their brokerage’s name. When I was a teen I knew a guy who put his paper stock certificates in a safe deposit box at his bank.

Are you trading the QQQ on the monthlies? Or are you talking short-term? If you’re asking for an opinion about the longer view, I don’t like equities for Q4. Exited all longs in individual names before Labor Day. But not totally flat stocks; currently holding a couple of names short. For...

Modern technology, ain’t it grand? It has made charts ubiquitous and now everyone “sees” the same thing.

Maybe not exactly that phrase which is what I quoted from the book. You repeatedly call trading a “craft” which is what I found odd. I think you told SimpleMeLike to “commit to your craft” in the Newbie thread.

I read it over the weekend. The psych parts are from the Mark Douglas cookie cutter. Regardless, it was a quick read and not dull at all. The reference to Liar’s Poker brought back good memories. Would I recommend it to others? Not really. But I wouldn’t not recommend it. I don’t think reading...

I’ll wait until he gets to 100 ES contracts by end of 2024. Personally I would want to stay under the radar of 13F requirements but the greedy bastard probably will not.

I find that difficult to believe. I know a lot of Mormons and they are all super nice people. Maybe she was a CIA drug operative posing as a Mormon. They do that you know.