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Sometimes there will be a trade setup/signal that will be in the same direction as the position that the trader already has. Given the new information, I would conclude that an additional position should be elected. In this case, the original stop for the original position should be moved...

I find that most of my trades (>70%) are initiated from the short side. I like the choppiness of the index futures so that trading primarily from the short side pays off. Not being greedy is the most important quality in being a one directional trader.

Or you could buy puts!

Yes, but your backtesting also gives an indication of the tendencies of the trading system. If that trading systems has tendencies to have long periods of drawdowns, it's valuable to the trader to determine if he/she would be comfortable psychologically with that kind of trading systems...

... Getting back to the subject of the thread ... This rally has been rather long in duration and a couple days of pullback would not be surprising.

[/b]The trendline that I drew is on a 2 minute chart of ES. The starting point on the trendline is the dip at 12 o'clock, the price was 938. The next point is the bottom of the trading range at 3:15pm, the price was 943.50. The break happened this morning at 9:59 am. (Eastern time) :cool:

C'mon give us a break. You cannot possible think that this a worthwhile product. :(

The markets aren't out of the woods yet, there is major resistance at the 950 area in the S&P 500. Until we break 950 area and stay above it, were still in a sideways market. Bear market tactics are still working, admittedly they're few and short-lived recently.

How much of your money did Oscar get ?

The trendline that I'm talking about is on an intraday chart. The ES broke the trendline at 944, where I got short. I've covered that short already at 941 and 942. Seen on the 2 min charts. Trendline started yesterday afternoon and extends into this morning's opening range. The ES market...

There has been a trendline break. It's my signal to get short. I never said that I'll be short for the next few weeks, it's just a short term scalp, but it could turn into a multi-day move. I can't tell yet. I do know that there are opportunities to make money by getting short, even in a...

They can't tell what's going to happen in the future.

TrendFader That's right, I'm all over this one. I've been getting short all week and I've had to cover prematurely of get stopped out. This short position will last ... I hope.

June cattle pops up at the opening off support. Their may be another leg up ... we'll see.

I concur.

I'll be watching for the dow moves today.

bought em back at 40. The market isn't breaking down. Now watch tomorrow the market will break down ... oh well.

Nice call Trendfader

Remember Trend, don't let a winner turn into a loser.

The trend is still your friend.