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I use the 15 minute chart to look for position trade entries like the one I entered last night. I trade using the Stochastic and MACD per the same methodology I trade on all time frames. All my discretionary trading is using the method I learned from Felton Trading, which I apply with my...

I am short the QMZ7 with 3 fills at 93.525 and 5 at 93.500..I have covered 2 at 92.50 and 2 at 91.50 with the remainder held for much lower targets. Here is the contract overview.. http://www.nymex.com/lsco_emi_cso.aspx

Stop near b/e at $93.50..no more risk in the trade.. http://www.elitetrader.com/vb/showthread.php?s=&threadid=107883&perpage=6&pagenumber=5

Nice drop today, and if we can get through the 85's on the December QM I have a decent chance of at least the $81.51 target in the weeks ahead.

I was 3 for 3 on the ES..my other trades I took on the ER2 today. I did not have an exact signal where you had your double top ES entry but I did see the set up there.

I got in last night..working well to this point.. ____________________________________________________ TradEStar Registered: Mar 2004 Posts: 419 10-30-07 07:30 AM I have not been short oil in a long time, but last night I entered a SHORT swing trade after a perfect higher time...

I could not agree more!!! You need psychological development to trade discretionary and you need a methodology understanding. You need to either find a methodology that suits your preferences to learn or you need to build one (this last option can take more time so be patient).

Well $2.00 in the money so far..1/2 the position covered and the rest is in for the ride.

Yes..just stay picky about your entries and don't chase the sloppy set ups. Let good signals come to you, don't enter trades just for the sake of trading. I have had 5 good signals that I traded today on the ES and ER2 so just be patient.

Yes, I left IB years back..know the feeling and as a result I now talk to myself daily...lol. :eek:

Do you have Multipersonalities? LOL...JK! :D

Yes, I looked at this method in the past and found nothing of precision in the methodology. As a matter of fact, I feel asleep during one of his webinars and that should have clued me in right away..LOL! :D

I have seen people enter LONG/SHORT airline stock trades on higher time frame oil signals..so I do get your point and the thought is not a bad idea.

COOL!!! :cool:

I dont..I just look for entries per the method I use that are fully within the exact criteria. Once I see a potential signal developing on the higher time frame then I look for a specific entry trigger on a lower time frame chart for a "dual confirmation" trade. The airlines seem to have so...

I have not been short oil in a long time, but last night I entered a SHORT swing trade after a perfect higher time frame signal followed by a great candlestick. I took profits for 1/4th of the position at 92.51 and I have another target at 91.51 to pull off another 1/4th. My stop is now at...

All three everyday..not married to any one specific style.

JK..LOL! :D Lower volume shows indifference and satisfaction with the current price range/levels. When traders are excited about something you will see the volume come in..good or bad excitement. :)

He can't..the volume is too low!!! :D :D :D

Usually significant sell offs will come after increased volume spikes..this opens the gate for selling to come in and take her down. Smart money will sell into strength during high volume rapid price move rallies. The blowoff top move is what you want to look for and not a one day low volume...