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Dustin's posts in the Price Action thread. Thanks Dustin.

Georgii: I daytrade equity/future profitably after 18 month’s hardrock. It is possible, but it is hard and you have to understand that the odds are worst than blackjack for ALL TRADES on AVERAGE, and for the profitable traders, they have to beat this negative sum game day in and day out...

Right on, RN. I just do not understand why people do not understand that in day trading, the odds are much worst than a casino game. After commision and slippage, the odds of each bet (Trade) on average is probably 45:55 and is much worst than blackjack. Not until one realizes this fact...

For swing trading, this is absolutely the way to go, but for day trading, since the range may be small (you never know) and the chances to add are limited in may days, you might have to do the opposite, i.e. take the largest position first, and eliminate/reduce when wrong (before stops), but...

Stock Patterns for Day Trading by: Barry Rudd If you try hard enough, there is a PDF file on the net. http://www.amazon.com/Stock-Patterns-Trading-Barry-Rudd/dp/0934380414

Barrington

One of the KEY edges of trading: Emotion Free. Following the two rules by Phantom and you will get there.

Correct translation for the banner is: Do not work hard today, look hard for work tomorrow!:eek:

You do need a few good books to help you to crystallize what you see on the screen and how to correct behavior/emotional and money management mistakes that you have made along the way. The good thing about Phantom of the Pits (POPs) teaching is, if you always obey his two rules, you will...

Good post FB123. You have to learn it by through thousands of hours of SCREEN TIME. The following is a free ebook that greatly help me. After one masters their own trading methods, it is truly you against yourself after you GET IT. Phantom of the Pits by POP and Art Simpson If you...

If you have tried day trading stocks and can't seem to make money, here is a great article.

I think there are two key elements that contribute his success thus far that may not apply to average retail traders: 1. He leases a seat and pay very low commission. 2. He manages risk without stops mostly, by using size, which allows him to save 1 tick consistently. Also last year’s...

A good article on day trading. Hope you find your edge soon: http://www.tradingmarkets.com/.site/stocks/how_to/articles/5-Steps-to-Successful-Day-Trading-81413.cfm Good Luck!

Day trading is a loser’s game. On AVERAGE, the expectancy is always negative, considering spread and fees. When you are hoping for a 0.50 gain, you lose 0.04 on spread and maybe another 0.01 for commission, so right off the bat, you are in a NEGATIVE expectancy of 40:60, much worse than...

If you trade stocks intraday, always keep an eye on the futures(ES)/Spy/Market breath/Tick, and think about convergence /divergence between your stocks and the market.

RW. Have been following your journal from the beginning, and I am sure you will be up at no time. I think it has more to do with position size than price action. I faded AIG today too and what I found out is that because of the large percentage move, we should adjust our position size...

I go further. when I open a position, I always start with “negative expectancy”, assuming the position is wrong and on the look out to close it before much damage is done.

RN. I agree with you 105% to 107% percent. Tomorrow, I will trade according to the psychology of you (if you trade the same stock, and you can be my friend or enemy) Tomorrow, I will trade according to the psychology of everyone (the overall market). And most importantly, I will...

So what is the “Trading Secret” in it? The only thing I got is to relentlessly “Cut the Losers” and then keep on trading and winners will come! That is the Holy Grail of the trading game.

Here is some food for thought, NOD: 1: If you were short ES going in today, would you be afraid of market going higher and buy (cover)? Yes you would, and you would not think market is too high, so why when you have no position, you are afraid. See, trading is a mind game. In trading, never...