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Hi Art, I am not a trading lecturer or book author, just a no-body trader who has been trading the ES everyday for the last few years. I agree with most of your 8. observations, but disagree with a couple of your remarks. 1. I think it is absurd to say the average trader can't succeed...

Some London Prop firms have advised their traders not to use Refco or their subsidaries to execute any business for them until further notice. Very interesting. Is the ship sinking?

It seems quite often the losers posted don't take into enough account of the 'big picture' and not just that isolated candlestick signal. Also, I have found that the trade action after the signal is often critical to having a profitable edge in candlestick trading. Just my experience. I...

I was thinking of doing a website of my trading so I opened an account at www.blogger.com. However, now for the last 4 days everytime I try to log into my blogger site I get server error and can't see my Blog. Is it just me or is everyone having trouble accessing Blog sites? Are there any...

Thanks for your encouragement. I will try to answer that question as much as possible with a post on the Blog. Broadbrush details only I am afraid. It is my plan to answer any questions/comments people may have on the Blog so everyone that reads it knows the answer. Cheers.

I am not sure if this is in the right section, so moderators can move if they think it is appropriate. I have recently started an ES trading blog of my trades, summary of market action in the ES and general thoughts on all aspects relating to trading. I am doing this to replace my...

I think fixed profit targets are not necessarily all bad. I use fixed profit targets to calculate my profit objectives for each trade. However, I do use market generated information in terms of 10 day volatility studies to calculate them rather than using some arbitrary number which is what I...

I wonder if you get times when you can tell from watching the market so much that it is going higher or lower (market intuition so to speak), but don't quite get the exact entry signal in the candles what do you do? Leave it alone or sometimes chase it based on your gut feel.

Yes and yes. More cash than futures, but some trade futures or rather start off by trading futures then move to cash when they get good.

No it wasn't. I was just making the point generally that if I used a +1 point stop it would be too tight for my trading of the ES. However, as I am not (yet) currently trading hammer patterns maybe it isn't relevant as we are using different trade methodologies.

I agree it is sensible not to have a hard stop at the logical price area. However, another way of approaching this is to have a mental stop at the logical price area and see how the candles are reacting to that initial price penetration before closing the position. I find this works well for...

One man's feast is another man's famine. I love tight stops and moving the stop to breakeven asap. However, if I did this when only +1 point I would get stopped out of so many good trades. Yesterday was a prime example, had a nice trade of +2.5, but if I had a +1 point stop to breakeven...

Looking at yesterday's action in the ES, at 11.05EST there was a long legged doiji at a temporary top that also appeared as a dark inverted hammer in other chart timeframes. Apologies for not posting a chart, but I use Market Aspects which doesn't allow me to post a chart. I haven't...

I don't know what the biggest cause of volatility nor care, as a humble trader I focus on what is happening now (and my response to it) and leave to financial journalists, fund managers, stockbrokers and the like to look for reasons for events. My own view, and observations, is that there...

The structure of the market changed significantly at the end of 2003, beginning of 2004. Volatility reduced sharpely and price reactions changed quite a bit. I don't think we had seen such significant changes in market structure for perhaps 5 years or so. When the market structure changes...

For those traders that day trade futures successfully I was wondering if you would be willing to share your position sizing strategies. I think position sizing is perhaps one of the keys to successful trading long term. How do you decide the size of your positions. I guess there could be a...

It is certainly important to understand trend days in order to improve one's trading results. Perhaps one should first define what one means by a trend day. For me a trend day is when, for example in an uptrend day, the Dow closes +100 and the low is near the open and the high near the close...

Oh ok. Sorry for the misunderstanding, I must have read it wrong. Thanks for this thread, perhaps one of the most educational on ET. You are very generous sharing so much of your trade method with those on ET.

First off all, let me say I greatly respect you as a trader and have enjoyed all your posts, and private discussions I have had with you about trading. However, I would have to question whether one should be managing trades according to how you have traded that day. The market doesn't care...

I actively scale out at four different profit levels. It is always hard to know exactly where the market will stop and yet I find it necessary to be aggressive in taking profits because futures can turn around so quickly. I also will add to a position if I get a 2nd entry signal once in a...