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The selloff was sparked by a confluence of both domestic and global fundamental conditions that caused market participants to disregard multiple key support levels very quickly. It's hard to imagine an individual company's (AAPL) earnings report would get everyone excited again, especially with...

The Volman and Brooks books are all about the concepts. Take the concepts and apply them to the bar interval (often called "time frame") that works best for your trading style (micro scalp like Volman, day trade, swing trade) and create a plan based on ideas, testing, research and rules...

Ha, never thought of that, lol!

On this note, if you're a counter-trend fader and you fade a trend in the ES, you can get hurt; if you fade a trend in the CL, you're a liquidity provider and can be drained of all your liquid before you even realize you're dehydrated.

Futures allow me to focus better (I usually only trade one instrument, occasionally two) and I can trade easily outside regular trading hours. For a beginner I recommend Forex because you can practice free with Oanda, then you can go live with a very tiny account and trade with some skin in...

I've been trading full time from the very start, but paid a lot of tuition early on. I'm coming on 6 years full time trading.

The economic crisis was NOT a Black Swan event, not even for long term traders/investors. There was plenty of time to lighten up, hedge, or move into cash. Even the Flash Crash of May 2010 was not a black swan event. The trend reversal unfolded gradually over a period of days and on the day of...

Watch the Mark Douglas video each evening for 10 days. Be sure to finish all the medicine even if you feel better after a couple days. :cool:

You know what to do. You've already done all the analysis, all the work; there's no need to think, just put on those trades and slap on a 15-tick stop loss. I'd be frustrated as heck if I skipped those trades. Around 7:00, around 7:30, around 7:40...you're calling my trades! If you skip...

The fact you came out ahead simply reinforced the negative mindset that's holding you back. You actually had a losing day. You could've said "I traded every valid appearance of my setups according to the rules of my plan and had a net loss of N." and that would've been a winning day.

I've talked with many people via Skype and I may be confusing you with someone else, but I'm pretty sure I spoke to you one day while you were taking serious heat on a counter-trend IWM position. Because it was trending in a such a well-defined manner, I described my with-trend continuation...

That makes sense. Douglas' books are only useful for trading an edge. If you have no edge to start with or if specific conditions no longer exist to support an edge that's dependent on such conditions, Douglas' books will be of no value until you have an edge to trade. He makes it very clear in...

If you truly understood any of what he says in his books, you would be a consistently profitable trader because I believe you know how to identify an edge. You find his books boring because he asks you to learn to think in probabilities and treat trading as a professional instead of as a...

I may have posted that somewhere because I have such a system. Grading a trade (20 points each): 1) Valid setup - Is it an in-plan setup? 2) Survivable stop - Is a technically logical price at which to place a stop loss within my max risk per trade? 3) Profit potential - Is the...

The 184.94 you quoted from your post on January 19th (a Sunday) was the high from two days prior to your post. (Perhaps your definition of "hindsight" includes a multi-day buffer :p ) SPY closed that Friday at 183.65. If you're so confident of your trading models, why did you inexplicably...

Ammo's a big boy :)

I think Vol's projecting ammo's profit :cool:

I made over 70 ticks to the long side between 9:40 and noon eastern time yesterday. I had only one short trade during that time window off the failed breakout at 10:49, but that trade failed to produce a big enough move to profit from. The signal to focus on longs was based on the strong...

Hi Frank, I have a fixed max stop on my trades, too, and the way I deal with a situation where a trade is signaled by the 5-min chart, but my max stop isn't wide enough to survive normal adverse price movement (in your case today swing R at 2.75), I place a limit order at a price that allows...

Don't get too excited yet. The market hasn't even tested the low of the range and the low of the range didn't even make it to the previous breakout level. :D