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Calculate estimates for buy and sell arbitrage for the day then watch $prem to make sure when a market looks weak it's not about to trigger a buy program.

I use a software package called Street Trader. It allows you to synch updates between charts. I use 6 sec. because I think that's the update frequency for the $tick from esignal. Everytime a update hits $tick it cuts off the updates to the other charts and they start the next bar. All I'm...

No, but I see where you got the idea. I intentionally violated the work required before trading and paid for it with large losses. My emotions got the better of me. Unfortunately it hasn't been the only time. I'm a little wiser now. My wife had surgery in June of this year and went through...

When my daughter was hospitalized we had to do some family therapy with a psychologist at the hospital. That was more than 6 months ago. Through the therapy it was determined I had major depression. I thought it was just stress but when a psychiatrist gave me some meds to try, my stress dropped...

It has to do with the way institutions use the futures market and major exchanges like the NYSE. Think of futures as future intentions while NYSE is current reality. If the futures price is rising, the buyers are signaling intent to buy equities. In the case of ES that would be large cap stocks...

As my energy level goes up from losing weight and my anxiety level goes down, I hope to capture complete trades and take multiple trades per-day. Right now I'm just getting my feet wet. I had the energy to follow today's trade...just not the emotional control. I hope with time it'll get better.

Rather than post to the P/L thread I thought I'd add my P/L here with personal commentary. I always wait 10 min. after the market opens so most of the stocks can open before trying to analyze the market conditions. Today it opened above Friday's high so I was expecting to see strength. What I...

He uses 100% market orders. No stop or limit orders. I used a limit order once when I wanted to get a price for a exit with profit. He lit into me "Who the hell do you think you are? If you want out...get out!!! Don't screw around and risk losing money bacause of a tick." That is burned into my...

Don't want to write a long story about May, 2005 so here's the short form. - a kid tried to murder my daughter while I was sleeping in the next room - the police took the kid and put him in a local nut hospital - the kid was released from the hospital and not charged - I tried to get a...

I don't have any background on the pro. He could have been a trust fund baby for all I know. I didn't ask about his prior career and I didn't ask about his educational background. All I knew was this guy was friendly and seemed to be competent at making money. He always minimized his entry...

This is my last post for today. I need to eat some lunch and get ready for bed. I work tonite. I'd also like to stop since it's hard for me to post about May 2005 and I need a little break before then. Here's my monthly P/l from beginning through last month. My problem is with my head and I...

The charts won't help much as I use 7 charts to decide on a trade. The trigger is from a six sec. update chart and unless you're sitting next to me you'll have no clue what it going on. I'll give what I can but since it took me a couple of months sitting next to this guy, you can probably figure...

Apr. 2005 was the first month I was on my own. My home system uses Win 98. I added two monitors, upgraded the memory, got a internet cable connection, and signed up for Esignal for quotes and charts. It took me some time to get setup so that I only traded about the last week of the month...

In Mar. 2005 the pro told me to do all the decisions and trading myself. He'd be there to help me if I had a question. Otherwise I was on my own. It was sort of like Gilligan taking the wheel from the skipper. He also told me it was the last month I could hang out at his house as his family was...

I'll get there. Since I consider myself a noob trader that should be a clue. I see some dark clouds coming up.

In Feb. the pro that was helping me told me to do all the orders and he would just tell me when to buy or sell. He set me up on one of his workstations so I could figure out the trades for myself if I wanted. I tried to pick trades but I was almost always too early. Luckily I waited on him to...

In Jan. he was so busy with his own stuff early in the month that he didn't have time to mess with my account. He did trade it some days and also had some overnite holds. In the end he traded my account about 10 days and increased the account by almost $8,000. He explained every trade beforehand...

Here's my first monthly statement with my trade:

I hope to use this journal as a tool to help improve my overall trading to the point where I can trade for a living. I was laid off from a good job years ago. Now I work nights as a convience store clerk approx. 48 hrs./week. My wife has 2 jobs and between the two of us we clear about 35k...

I think mentors (working with a real pro) are found through personal relationships. I hooked up with a pro only because he liked a speciality drink we had and he came in to get it before starting his day. Only after a period of months did our 20-30 sec. discussions turn to his work. I was lucky...