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What you say you are ("a trend trader, directional trader") and what you actually do seem to be in conflict. Do you know how to trade in the direction of a trend? Using yesterday's action in ES or NQ (pick one) tell us your rules for with-trend entries.

HFT systems may not care about fear and greed (which is just another form of fear), but the sort of systems an ordinary trader looking to generate a profit from directional price moves would trade (or program to trade) are based on the behavior of price which reflects other traders' fear and greed.

"To live a creative life, we must lose our fear of being wrong." - Joseph Chilton Pearce

Damn those mean traders! :D Line in the sand at the close today.

Gem :cool:

The positive expectancy on that exercise held up through two series of 10 consecutive trades on separate days. It may be worth pursuing :) As you stated, if you learn price action, the concepts will apply to any liquid instrument. The main differences between instruments will be leverage...

Hi kp, It's just an exercise, a drill so to speak. An aspiring athlete runs many repetitive drills to train the body to behave fluidly under certain conditions. The exercises are drills to a) train the aspiring trader how to try out ideas and analyze results using a "guess and check" method...

Mac, this is exactly what I wanted you to see! This exercise is designed to help traders understand the power of a strong trend (or a strong trending move). Those EMAs are like the Key on a road map. A dotted line on a road map might indicate a primitive dirt road and a solid double line might...

It took much longer than I expected for the thread to descend to the level to which the last few posters brought it. To those wanting to master an edge that will persist as long as a liquid auction market exists, please check out dbPhoenix's "Straight Line" threads. :cool: [EDITED BY MAGNA:]...

That's what it all comes down to. You can buy high probability setups for a few dollars a day, but it won't execute the trades and follow the trade management rules for you.

You can get excellent swing trade setup subscriptions for around $99 a month from companies like Pristine or Bulltrade, and the one Stocks4Life uses. A zero sum game doesn't mean there are no winners; it means that the educated and experienced participants will profit from the losses of the...

Here's an exercise to help study long/short sentiment using strictly a 1-min chart. Place a 20-period and a 105-period EMA on the 1-min chart. When price is above both and both are rising, only look for long trades as long as price doesn't close below the 20. When price is below both...

You seem to be trading off a 1-min chart and targeting more than 10 ticks profit, so you're not a micro-scalper and the 5-min chart would be your main chart for key levels, not a 15-min chart. The convergence of TLs could indeed serve as a support level, but you would only enter long off...

No, I'm not at this time. I sometimes chat with a few Skype friends after the morning part of the session, but during the first couple hours of the pit session I'm 100% focused on making my day's pay. As a scalper, I keep several price levels in my head at all times and have to be ready to place...

You fell apart because you didn't shift gears when the uptrend reversed. On the 5-min chart, draw the lower trend line across the lows from pre-market and then look on your 1-min chart at the price action surrounding that line during the 10:56 to 11:08 bars (your time). That early LTL still...

OK, out at $6.00. Thanks for the heads up top!

Should I take profit on the 1185 puts I bought for $2.00?

Great idea! Now what?

OK, ready! Whadda we do???

My active day trading takes place on a single screen. I have a 5-min chart and a 1-min chart stacked across the left hand 2/3 of the screen and a price ladder for order entry and trade management to the right of the two charts. I have other charts on other screens, but only pay attention to...