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Looking to go short at 88.30? Thinking (oops there he goes again :)) that a pullback below 87.50 would be a good entry long. Let's see what we get.

A pullback to the .50's would be good, but may be wishful thinking.

Yeah I had/am having data issues too. Nice trade though none the less.

Just downloaded new software yesterday and don't have all the indicators set up yet. There was some congestion on Monday around 88.

:D Ditto. :) Probably runs to 92 while we watch. :) Interesting that DX is strong today...

You did well. I just got here so trying to tune it on the fly. :)

87.79-87.85 were the recent highs back to Tuesday.

You could see this coming. But there will be the "we missed this rally" group who may step in here. We'll see if they unload on them too. Talking about the general index moves.

http://www.elitetrader.com/vb/showthread.php?threadid=203934 http://www.forum.qtusers.com/index.php?topic=1074.0

In case some people are wondering. :) Contango http://en.wikipedia.org/wiki/Contango

Thanks for sharing that. And I'm certainly not saying the idea is to have no plan and just wing it. :) I guess I'm saying too is you have to make sure you have a "good" plan that will work and won't burn you if you're wrong. And just having a hunch or some conviction on where the market is...

BTW, FWIW, my account finally was funded and I received a new NinjaTrader license key. Hallelujah!!!! :) Didn't trade this afternoon though as I was really exhausted today and just decided to let it go. But look out tomorrow. :)

So are you saying basically that you need to make sure you have good plans but you should stick to your plan no matter what? Just curious what your take is.

This is all of the stuff we've been talking about. I feel bad your trade is going so poorly. But the strategy of closing out half to buy back in lower and create a lower break even level can work but it's really dangerous to trade that way as we've pointed out. What if some other really bad...

I was meaning to add some thoughts the other day on "conviction". Obviously we all have times when we feel strongly about where the market or an individual stock or contract is headed, up or down. The thing is, the market will tell us whether we are right or wrong. Period. The market of course...

[/B] FWIW I couldn't disagree with this statement more. And your statement below points out why. Sometimes you're just wrong and your "plan" is not a good one. And the sooner you admit it, the less pain and destruction you'll suffer. This is true if your "plan" doesn't include a viable exit...

And here's another one. :) :D As it turned out she ended up being okay. Once her broker found out she was merely relieving herself on a bathroom break all of the trades were voided and her funds were restored to the original levels which is only fair. :p...

Actually I've long since passed this level of professionalism, but I do feel tremendous remorse and guilt for the pain I caused my relatives and friends who lost everything supporting my no stops trading style. Grandpa's exact comments to Grandma were, "I told you the boy had no talent for the...

I thought you and I had mutually agreed not to use stops anymore. Wasn't that what we concluded? Keep averaging into a losing position. Wasn't that our new strategy? Borrow from family and friends if you run out of bullets. :p I was in and out while this trade was on. If I had been trading...

USD Slips After FOMC http://www.marketwatch.com/story/dollar-slips-after-obama-calls-for-spending-freeze-2011-01-26