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Just a suggestion, in the beginning be careful trading earnings stocks while the conference call is on, even if you are listening to it. You might want to subscribe to briefing, its a good site with news and conference call information. Good luck with your trading.

What about a giveback % rule? If you are up $200 closed gross, maybe say not to be down 30% from there? You can also change that % each day depending on the market and whats in play but will keep you going if you are continuing to make money.

I use the tape a lot and consider myself a really good tape reader, NYSE stocks are a lot easier, but can still be done. I agree, need to focus on in play stocks to bring out the big players to have any kind of edge with the tape. Here is my suggestion to anyone wanting to learn, it takes a...

Great post Mav, thanks for sharing. I agree about the Pivot Ranges, its one of my favorite setups and seems to work the best intraday.

Why not just put in a give back rule instead of a profit target? It seems ridiculous to say once you get up X you are going to quit. It makes more sense to say, once I'm down X I'll stop for the day. Make a rule saying I won't give back x% of my closed P&L. This way you will keep pushing...

I agree, this has really improved my trading. I've found that once I'm in Tier 3 (they suggest max should be 6 min should be 4 tiers btw), that its almost a risk free trade. If I'm in 1 and 2 quickly, then thats when most of my risk is present, because by the time I add my third, thats my...

I don't know what you trade, or if you are discretionary.. Just my 2c.. I think your risk/reward is the problem even with your high win rate. If you are going to risk $100 a trade, then why not try to make $300? That is how I trade, if I'm risking $1 I will have to make $3 for me to take...

After reading Trading in the Zone and the Discipline Trader, I was a little disappointed with the DVD set (thinking like a professional trader) to be honest. The first 3 DVD's are basically reviewing everything that you have already heard from his books, the 4th is a little bit better, but...

Thanks for this.. It appears its just the DVD's, no materials, but are good DVD rips. Edit: I'm not sure if the originals have any written material

Awesome I'm ordering this book now! I've heard that story a few times, but still a great story.

I don't know how I missed all these posts, but thanks for posting!!

Great thank you!

Has anyone seen his DVD of 'How To Think Like A Professional Trader'? I'm interested in it, but want to know what others have have seen it think.

Here is an audio interview with Mark Douglas from awhile back... http://www.woodiescciclub.com/Lectures/mark-douglas/august-2005.htm

FWIW... Trying to read the tape on the Q's isn't that great because of the volume. Plus you still need the prints to get the whole story. If you want to learn how to read the tape you need something with like 5M shares a day, something that is in play preferably and record your screen (level 2...

Thank you Mav great insight and advice I really appreciate it.

I'm trying to understand how to use this concept on breaking news plays and would really appreciate any feedback. I'm using UNH today as there was news midday that caused great volatility in the stock.I understand that ACD works really well with understanding the volatility plays to set the...

There is a lot more to it then that... You need level 2, what you are describing is the prints (which some consider the tape, but I need level 2 also and incorporate it into the prints). Red print = Bid, Green print = Offer, White = in between bid/offer... I have spend about 2 years learning...

Can you elaborate a little further on this for breaking news plays? Do you use a specific time period on breaking news, or do you read the order flow to get the opening range?

Great year Lescor! What is your best year if you don't mind sharing? Have you noticed if your trading has become more efficient over the years as far as ticket average, or stayed about the same? Also, when you are accessing your risk for each trade, do you try to keep your risk consistent...