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In all honesty, you will blow out quite quickly trading this way :( You are targeting a couple ticks for profit, and yet you will stay in trades you "believe will come back". The first time you are wrong, you will give up a month's worth of gains in a single trade. You must resolve that...

I think I know what you mean, but for arguments sake, if you say you cannot enter a trade without a bias, why would you stay in that trade if you are now riding "bias-free"? If by no bias you mean you cannot anticipate what the future move is, then wouldn't you just exit the trade? :) I...

I think you'd be hard pressed to find a successful trader who hasn't blown out at least once on his or her road to success -- why make such a stipulation?

This is the biggest flaw in your argument; yes, it may seem like many times a random entry can lead to a large profit, but that only works if money management is totally ignored. Buy randomly, set your stop loss at 20 points and target .5 point, you will find that your success rate in...

Sorry to say, but just because you cannot find an edge greater than flipping a coin does not mean it's impossible. If you claim you can trade your best by using random entries -- well, considering the subject of the post, I have no problem believing it. :)

The market's intent is to eliminate past consistencies; human psychology is intent on repeating the past -- therein lies the "metamarket" :p :confused: :D

If an indicator consistently lost money, just flip the buy/sell buttons and voila! :) On a side note, I don't know why people come to forums to argue for their preferred indicator/chart pattern/strategy. The next best thing to no one knowing how you make your money is everyone thinking your...

What about those who use IB? Does IB automatically re-format the stop order to reside on the globex server? Why is IB and PMB the exception here?

When using IB, has anyone had strange fills using simulated stop-market orders? I've read that TWS does not truly capture every single tick but just a certain amount of "looks" per second -- there have been times when my simulated stop orders were not triggered even though I saw the price go...

Thanks for everyone's input. :)

I agree that this chart example feels a bit spread out. However, I would have to disagree about anticipating patterns, only in that these days chart patterns are pretty much public knowledge at this point. Given that many people would still blindly short breaks of necklines and use the right...

Yes absolutely, I know this firsthand because I never did enough homework on MTM while trading equities (where I think it is a must for stock only traders) and could have gotten a substantial refund on taxes paid during the bubble. As mentioned, everyone's situation is different, and be careful...

So yes, I have the choice to use my prior short-term losses to net out my long-term gains -- but do I have to? Because I think I would pay less tax overall if I paid the 15% now on the long-term gains, while reserving my short-term losses for future short-term gains.

It seems like what you did was to just net out the entire 50k gain of this year with 50k of prior losses, leaving me with 50k of short-term losses to carry forward for next year. That would be one way to deal with it, and perhaps the best way if one decided to quit trading/investing (the losses...

Couldn't agree more, you could almost say that the only thing which makes trading worthwhile is the unlimited potential in what one can earn and the freedom with which one can live his or her life. Trying to compare trading to any other 9-5 job does not do justice to either the rewards nor the...

Wait for the BKX to break down further, maybe some skeletons need to come out from a few closets :D

If one has short-term equity losses in previous years that can be carried foward to cancel out emini profits, would it be smart to just use the 40% of futures gains taxed short-term to cancel out losses, and pay the taxes on the 60% at the lower rate, while saving the rest of the losses for...

The only advantage MTM has for any trader is the ability to get a refund on taxes paid the previous year if the next year is a loss. But again, this would not be worth giving up 60/40 treatment in the long run.

No need to be sorry, it was my mistake for leaving out any reference to volume -- good eye!