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No, after it stumbled about, I took a .25 loss and walked. Got busy and missed the next opportunity. Usually my experience has been that a good trade will show it's face sooner rather than later. Not sure what your thoughts are on that.

Most definitely true. I concur with all your points JJ. I consider you a valuable poster and am trying to learn from you as well as all the other seasoned traders here.

Nice divergences forming on the 15m, Stochastic and CCI. An afternoon rally in the offing?

Thinking about re-entering short....very low volatility at the moment, trend is down, and we may get an NR7 on the 5min.

Just to give an idea of what this rookie is thinking....Short at 68.75 and concerned about the lateral movement here.

Sorta setting up that way. Long needles down, stochastic divergence on 15m.

I alluded to a possible strategy when eCBOT went down last week. If I were caught in a limit move against me in the eMini, I would try to take the other side on the DowMini (or visa versa) and hopefully mitigate the damage. It's a plan I hope I never have to implement, but I think it's good...

Most definitely. After reading the stories you guys had, I realize it's a cheap lesson. I just get tired of bleeding myself out slowly. I appreciate your feedback. The hardest part about trading for me is not trading when I shouldn't.

No, I had my stop come up to b/e +1 and that got hit. Then I got in twice on the uptrend after support showed up, but each time got stopped out -2. I'm pissed, but undeterred. Lessons learned, take 2 pts when it's there for you and you need a win. Do not trade when high volatility prevents...

Looking at the after market activity now, it looks like somebody knows something. Sizable move up during the Tokyo session. Unrelated coincidence perhaps? Maybe a set up for a headfake. Maybe the Feds leave rates alone tomorrow. Seems like a big player in Japan anticipates an upward move.

I had a brain fart. Excuse me. :D

TF = Time Frame Taxes....not sure, but I believe gains are taxed at 60% long term capital gains and 40% as ordinary income. I could definitely be wrong here. I seem to remember reading something along those lines though. Perhaps one of the multi year futures traders would have a more...

Hi 4re, I'm curious about something. Doesn't the FOMC announcement come out at 2:15 ET? Will you be playing an after-market move? What am I missing? http://www.deltat1.com/economic-events.htm Duh! Had my time zones confused. There should be some very nice afternoon action.

I've considered that a good way to hedge an emergency situation.

We were on the same page this morn 4re. I too saw the support come in and bailed with +15 on the YM. Good trade.

I suspect you're right on this JJ. Hope you nail it today.

Nice business rule. Prolly adopt that one. Gives time to clear the head and hopefully get a new market character for the next day, and hopefully one the system can be profitable in.

I've contemplated dealing with the Monday dilema too. Today, I just went for a quick 10 ticks and got them. Once the market settled into it's move, I jumped back in and did fine.

You are so right on this. I had a bad run a couple days ago. Adjusting to new S/R levels on the fly during the trading day, getting in and stopped out 4 times....totally butchered the account. Next day I say to myself, "be patient and just stick to the system; it will work". Got me right...

Yep, came along real nice today. +2