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Only seek outside guidance when you need to know data driven news. Form your own opinions. Implement them and stick with them. Trust your instincts and learn to identify when you are wrong. Capitalize when you are correct. Do not take specific trade entry/exit advice from others. No matter...

Focus on one market. Learn it inside out. When value presents itself, take the risk. Focus on one instrument/market. Simplify your trading to maximize profit. DRT

Uh oh.

Here ye! Here ye! Send all the kings horses and all the kings men. Tighten up your chin straps. I am bearish commodities over the next umptine months or so, but this may produce a small bounce a roo. Sometimes the best trades fly in the face of danger. DRT

This pair is balancing the top of a distribution curve that dates back to June. 2970 is the top and expected target at this point. Notice that the current month distribution looks fairly balanced. We have tested the top. If buyers do not carry us up from here, we will likely revert to the...

The bulk of my income comes from e-trading Euro Futures on the CME Globex platform. I would call this my position trading account. Sometimes I am in and out of the market in the same day. Sometimes I hold a trade for a week or two or through the whole month. Just depends on the situation and how...

The DownRiver Trading Company I am the sole proprietor of this shop. Like Wal-Mart, I am open 24 hours a day. I pay the bills, keep the place looking good, have my business plan completed, know where my P&L is at all times, do my own IT work, plan for the future, understand tax laws...

TRUST YOUR INSTINCTS When you become interested in trading and begin due diligence, you are programmed to fail from day one. Think about it. Here's a sample of what you learn... 95% of all traders fail the market will burn you if you are in it for quick money, go do something else Your...

My trading career really took off when I stopped trying to learn more and more about the markets and started trying to learn more and more about myself. Do you really know why you like to trade? Is it the money? Nothing wrong with this in my opinion. In fact, if it is anything else I would...

Stop Loss Banter In general, I do not believe in hard, specific stop points to control loss. Otherwise known as a stop loss. Rather, I like to think in terms of the violation of a certain area that I determine critical. Chances are our thoughts on stop loss areas are the same as other...

I saw a thread titled "Desperation". I felt sad for the poster. His post is what inspired me to start this thread. This is copy of my response... The link to the thread is http://elitetrader.com/vb/showthread.php?s=&postid=1168752#post1168752 DRT...

I was first introduced to trading after hearing a radio show with some guy trying to convince listeners to send $5000 to a broker who would buy Euros on something called Forex. I had no clue what this was but it sounded fascinating. I decided that it was a big rip off and changed the channel. I...

I am hoping some others will contribute initially. If not, I will start us off with some words of wisdom shortly.

Have you ever wondered how they did it? I mean...you can read Market Wizards but some of these stories seem surreal and out of reach for most. I am talking about us average traders. How did they manage to begin trading and finally achieve the coveted status of full time trader? Success seems...

If I was in front of the original poster of this thread, Happy Go Lucky, I would slap him. But since I am not, I will try to help you with some written advice. I have posted this chart on these forums from time to time. I am not trying to brag with this chart....only trying to prove a point...

You should look within for this answer, not ask someone else. What do you have an interest in? This is the question only you can answer. Trading is about buying and selling something and hopefully making a profit. The reward is knowing that you made a profit by making the right call. Now...

It's really ashame the EurUSD thread got closed. There was a lot of good info, charts , etc in there. I am going to go start a blog or something. I have enjoyed interacting with all you guys. Take care. DRT

I added one more contract since my post just a little higher. My average cost is showing at 7505. I am down about 30 points. My targets on this are fairly aggressive now. Target 1 = 7191 area Target 2 = 6820 area Someday target = 6220 area I do not have a definitive stop yet. I...

She is puttig up a good fight for sure.

Bump for YeahIknow... Anyone hear when the BOJ annoucement is??? I can't find it yet. DRT