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I trade during the day, and am an underwater fire fighter at night. Working the "night shift" has its advantages, as there are very few fires to fight.

P.S. The NYSE Bullish % Index is single-handedly the best indicator of long-term trend. The daily P&F chart for it can be found at: http://stockcharts.com/def/servlet/SC.pnf?c=$BPNYA,P It never fails to call the long trends correctly. It correctly called this upswing when the DOW was at...

"Payrolls drop by 539,000; jobless rate up to 8.9%" What is good about this ????? The rate of decline is better than March ? This is still an absolute 1/2 million jobs more that have been lost. Be smart. Book your profits, while U can.

I'm not begging for a correction; it's just that technically, I believe we are due. Fundamentally, the administration (like them or not) has been orchestrating a well-rehearsed script, to lift optimism (and the markets). Unemployment is still at record highs, foreclosure levels are extremely...

NYSE Bullish % now at dangerous 74.32 % (yes, it went up again last night). Since 2000, the highest level it's been at is at 78 % (twice hit - January, 2004 and March, 2004). Expect a hard short-term correction imminently. Basic laws of supply and demand.

LOL !

Agreed !! Just responding to the Thread Headliner......

Let's not forget, he didn't see the train wreck coming at all. He is an overpaid knucklehead, as far as I'm concerned. I don't care how many Harvard degrees he has, he still doesn't know how to tie his shoes.

For backtesting-purposes, I like to eliminate data outside of market hours.....just my preference.

Here is a way to get FREE 1-minute data for the same time interval: http://www.elitetrader.com/vb/showthread.php?s=&threadid=161548&highlight=TDAmeritrade+free+data You need to be a TDAmeritrade client, and sign up for their Free API. I also have a WL-based utility that I wrote that...

High inflation, leads to higher interest rates, which has a negative effect on business (and hence, employment). Good for holders of long-term debt.

Missing rallies does not make me happy, but at least money on sidelines isn't going down. It's losing money in market downtrends that really makes me feel like turd.

If anything at all in the media can sway you one way or another, the fact that CNBC is calling the recession over, is a great indicator to go the other way. Although there may be a little more wiggle room upward from here, the NYSE Bullish % Index is reaching that dangerous 70 % level...

Steve, The "Daily Low" is the prior day's Low, I assume ? So, looking at the Long side, if we gap up in the morning by more than half the Average Range, then there is a good chance that we will be filled at the Open ? Is that what you are saying here ?

I guess that about says it all. I've tested countless systems that performed well over a short duration, but did not over the long haul. I guess everyone has to learn at their own pace. Best of Luck !

We are not here to bash, but if you are going to post a journal like this, you must be confident enough to accept some critiquing. There are a lot of reasons why you are posting "superior" results, and you seem very critical of anyone trying to point out reasons to help explain it. ProRealTime...

I assumed NO slippage, but did factor in $ 0.005/share commission (my broker is IB). I use real Open Prices, as provided by Yahoo! Finance, and 1-min data provided by TD Ameritrade API. I am currently tweaking my facsimile of L5, to be as close to the author's values, and will then publish my...

This system has not been backtested properly. Long-term backtesting cannot be accomplished with daily values, stated fluctations of intraday of L5 cannot be happening, clean data and proper OHLC values from a reliable datasource are required, proper money management rules need to be assumed and...

EminTrader, A couple of obvious problems here: 1) Open Prices for ProRealTime obviously include some pre-market data here. You need to use a more reliable data source for OHLC; 2) As another poster pointed out, you need to ideally backtest with TIC data, but I'm...

I think we meander in this trading range for a couple of months, unless there is a big news event.