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The 11:05 and 11:10 eastern time bars on the 5-min chart were the consolidation. The reason price consolidated there is because the value of the 60-min 20EMA at that time was 101.90. The 20EMA is a low risk area to initiate a pullback long position in a well-defined trend. Swingers looking to...

Or a lifetime's worth of gourmet dinners :cool: Someone recently asked me what I do for a living and I told them, and explained that I'm fully automating my system, and they immediately said, "Then you could sell it." Which makes absolutely no sense to me. :eek:

That's a bold statement :p The margin required to trade a single contract CL and NQ is so minimal with some brokers that I don't see why you don't just save a bit or borrow from a friend/family member the small amount needed to open an account with one of these brokers and run your system...

That name (ivica) sounds familiar, like someone who used to post swing trade ideas here (quite good as I recall), but I've never been in that trading room. I frequented ET's trading room in 2008/2009, then over to Robert Weinstein's room when ET's closed down. I was definitely a newbie during...

What is it you love about trading if you haven't been able to make any money at it? I'm pretty sure that just under 101% of the folks trading for a living here trade to make money.

This made my day! Back in 2009 when I first started reading Brooks I posted this in my journal: "If you're a beginner, you may as well just place the book under your pillow at night because you'll get as much out of it that way with less stress ;-)"

I've only spoken with/observed a couple of micro scalpers and their win rate is upwards of 90%.

Not fencing, just wanted to maintain the integrity of the thread by backing up my claim. Nothing wrong with long trades, anyhow, it's still a major long term uptrend for swingers :cool:

No, that wasn't me. :p:p:p

True, I wasn't logged in at the time of the trade.

You happened to catch me trading a range late one day, which failed to break out and so I scalped a few ticks. Today I shorted NQ just south of 90 with a target in the 55 zone (that was the first level of airspace below). Quite a bit more than 4 ticks :cool:

I shorted a bit deeper than you did and it was definitely chasing price on my part because I hesitated to put on the trade higher. However, I had that 55 airspace level in mind and felt like the Queen of PA taking off my trade during the "bottoming action" around that level, which of course...

I can relate, great day for us trend followers :p

I posted a while back about price turns being defended. That 52.75 that's being defended here was from the price turn (to the long side) on the daily chart from 6/26 and 6/27. The 20-day EMA is right about there as well.

http://www.youtube.com/watch?v=YtfdEk8PT-M :confused:

I believe emg recommends you have a margin of $500,000 per ES contract traded so no stops are necessary. You just hold until your 1 point profit target is hit. :eek:

Has anyone ever claimed there is such a system? :confused: Are coincidental profits worth less than intentional profits? :D

Funny you use that example, because my opening trades today were three shorts at 104.08, the last of which finally broke out of the range and produced what turned out to be my only productive trade. My stop loss was very small :) I'm not sure I'll be able to sleep tonight if you don't...

Vis, here were my thoughts around the time of the report today: "Yesterday's low was 104.60 and the overnight high was 105.50. The test of yesterday's low was a 3-tick failed breakout. If it looks like a range it should trade like a range. I'll betcha price will break thru the upside by 3...

Looks like the rule is still effective :p