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You should be doing this on a simulated account and logging your observations. If you are really trading live with $30k this is very foolish and you will likely lose a lot of money before you come to your senses. I'll add that from the few trades I've seen, your strategy is flawed. You...

There is no serious discussion on this site about charts, timeframes, and the best way to represent data. Think about what you are showing. Why would number of transactions be relevant? If you can make a case for them being relevant, great - and then use it in your trading. What are the...

Order cxl - plan on going short 1275.75. Why? I expect the market to short from there. Target would be 1268 to start. What is strength? What is trend? When a market has a move up like today, who is buying and who is selling during that "strength"? What does the average close price of...

Plan on going short 1274.75

Why not make that a 4-5 tick spread in locations where you know people will be paying up to get in or out? As I said, a trading opportunity but not a scalable one.

ES becomes more active just ahead of 03.00 EST (London open). Sometimes the high / low for the session is put in at this time. It then becomes quiet around 06.00 - 06.30 EST (European lunch) and does not generally become active again until 08.00 EST. For trading the ES out of hours (European...

Correct approach?

Trading size has different considerations, which do not apply to the vast majority of independent traders. I'm sure when PJT starts to build a position he has an idea of the available liquidity in the market to get on his position at an acceptable average price which he can estimate in advance.

You are already showing the correct trading mindset - approaches of value are ignored by the public and the approaches the public take are worthless. I am encouraged by your prospects. You need to evaluate what the order book shows, and most importantly what it does not show - the unknown...

For thick FIFO markets, it is very hard to earn the spread by joining the best bid / offer. You have low queue priority, and will frequently only get filled on your bid when the market goes offered there. In effect, you have still crossed the spread. Trying to get time priority in a thick...

Overnight low - this is looking like a solid bottom until $39-40 area. Thoughts? Perhaps a secondary rally to give the public a final opportunity to "invest"?

There appear to be three classes of potential traders with regard to "profits weren't huge". 1) Traders who accept less than huge profits. This includes the person who wants to grind out $200/day, all those who wish to trade for a "living", and others after easier money but without the...

What is this QE3 I keep hearing about? A new ocean liner, the RMS Queen Elizabeth 3?

This is interesting. It has been done before. It is possible. Using heavy leverage, you could double your account once per month or more frequently. This presumes a robust methodology for taking net gains per day from the market, ideally with a strike rate north of 75%. Don't expect to do this...

That is a good suggestion and I shall bear it in mind.

This is my point exactly. People don't adequately describe the timeline they are trading. Not only is this unclear, it can lead to confusion and gives plenty of latitude to whoever is posting. Yes the failed breakout is a reversal signal. However, when does it "fail" or is this only in...

This is why it is futile to discuss the market unless one expresses the timeline. The market was in a very weak condition, made a top just under a week later, and has since fallen to a low $20/bbl from the high. It moved only $3 further higher than the high of the day we were discussing. I...

The ability to make almost seven thousand posts on Elite Trader in three years.

Listen to Mr Thompson's report on the World Crisis.

Well said Sir. For your edification: http://en.wikipedia.org/wiki/The_Bonfire_of_the_Vanities Can we please have some civility. In the first place, it simply isn't becoming to conduct oneself in such a rude and ignorant manner. Secondly, some of us here appreciate the insights provided by...