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Just curious to know what different SWING traders use to measure flag patterns... Basic TA says that you measure the flag pattern to form a target after the price breaks out of the pattern.. its also known as a measured move... Do you measure from a previous breakout point to the top of the...

Dawg... No matter what your system or entry is... as long as you keep your losses much smaller than your gains you will survive... Even if your system was truly 50/50.. just focus on the exit.. and make sure you always take those 1-2 point losses.. and manage to take 5+ point profits...

Zorak.. you have 2 more important issues to deal with.. First.. you are not deducting commisions and slippage from your system... this can make a big difference... Second.. and most importantly.... you need a position sizing strategy... you cant just be buy 100 shares across the board for...

Good idea mars..... I am just curious to know what type of success you have had swing trading... Can you share your performance statisitcs with us... you can avoid the use of $ terms...

Mars, Thanks for your posts... How do you scan the market everyday to come up with your trade ideas? ALso.. I see you enter and exit the position on the close usually.. unless you get a windfall profit... ALso... What is the criteria for a setup... It has to be a break off key trendline...

Mars when do you enter the trade... at the close? What type of position strategy do you use.. also how do you exit your breakouts... Can you further provide this thread with a few recent examples.. of trades you have done? Thanks.. -- MIKE

Yea.. thanks.. You should provide that graph weekly.. Hope that trend continues... --MIKE

Hey Dawg.. looking better everyday... Do you think you can post a daily end of day equity curve of your gains.. this way we can see the type of drawdowns one can expect when one trading a system similar to yours... I hope your good performance continues... --MIKE

I have been swing trading many years... I dont daytrade.. Dont treat each trade the same... as $60 loss per 100 shares... Instead treat a certain % of your account as a loss.. and then adjust the position size accordingly to intitial risk... Some stocks are more volatile than others...

CNF and ESI ... are classic volatility breakout play on huge volume... They are huge down black candles.. these types of plays require a wide stop.. because the volatility is great... Look at your Cern trade... it was another example... you got stopped out because it was too tight... it...

Each setup or trade strategy you have.. should have a different risk profile... For example... if you trade a pullback off a strong trend.. its best to use a tight stop because you will be wrong a few times.. then when and if the trend finally does resume.. you will make back everything plus...

DT1... here is the thing about tight stops... If you are a professional trader.. you might be using a %1 position size risk model.. Which means you are risking %1 of your account per a trade... Personally I risk under %0.33 of my account per a trade... THis means if you have $10,000 in...

If it doesnt gap up.. it will have an inside day and stop you out at a loss... I dont like that setup.. risk to reward isnt justifiable in my opinion... --MIKE

Primarily I will play 2 types of setup... Stocks in a strong trend pulling back and I would buy/short the moment the trend resumed.. I play flags and pennants in strong markets... and sometimes I play cup and handle setups... Sometimes a breakout of very tight consolidation. My exit...

LGND.. was an extremely risky play.... The stock has gone parabolic... --MIKE

In general... be carefulll shorting very low priced stocks.. you will get destroyed in a squeeze... because the % go up real fast...

Actuallty most of Chuck's exits are trailing volatility based such as 3*ATR.. or a chandeler ATR volatility trailing stop... His exits have nothing to do with his entry... But you do make a good point about traders simply reversing their entry as an exit... In my experience that does not...

Nope... maybe 1 out of thousand can consistently earn a salary for 10 years straight day trading.. Min. salary for me is atleast $50k... in NYC you near around $75k+ to live a decent life.... --MIKE

Bronks, no need for personal attacks.. Where do you get off bashing me? You just come in from no where bashing... You havent contributed one ounce of idea, or thought into this particular thread... You are just roaming around.. bashing people... Look at your experrience.. you are...

I repeatedly stated I swing trade.. and the exit is what is most important... I stated this atleast 5 times through out this particular thread.. Obviuosly when you are daytrading there is a different set of rules... but I stated many times.. I dont believe in daytrading.. I dont think anyone...