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Wow, me too! I bought 1000 NFLX $100 calls for 5.00 yesterday morning and closed the position for 48.85 this morning. I'm donating it all to Lance Armstrong, poor guy, the hell he's been thru...

Yes, that is correct. In fact, the edge can be negative if the risk:reward is sufficient to overcome the negative edge. Geez more than doubled his $70K day trading account in one year with a 48% win rate, but a 1.8 to 1 money management advantage. Taking random long entries in a bullish...

This is a common misconception. Taking a trade when a system signals is what you have to do to fulfill the prediction that you will be profitable over a series of trades if you keep doing what your system tells you to do. When putting on any individual trade, you have no idea about that...

So you shorted it on 1/20 and yesterday you "just moved my stoploss for dow to 13,814 and adjusted target order to 13,608". It looks to me like you got stopped out. EDIT: Never mind, you already posted that.

Every single trade a professional trader has made is a transaction, nothing more, nothing less. We only aim to predict the outcome of a series of trades. If you think you can predict the outcome of an individual trade, you're not only too inexperienced to be trading with real money, you have...

This market is not EXTREMELY overbought. It's working its way up to an upper channel. Decide where you'd place a disaster stop on your anticipated "fade" trade. When price gets to that level (it will), that's where you begin to fade. You're young and hate the thought of listening to Mum...

Bone's a professional. Professionals don't try to predict what will happen next. They put on trades when their systems signal trades, put their risk management in place, and let the market do whatever it's gonna do.

Day traders can beat the index any day, baby! We pikers get to latch onto the INSTITUTIONAL MONEY that DRIVES PRICE and get a ride to the bank every day. I made $200/contract buying the new high of the day in crude oil following a "bearish" news report. Who knows more, me or the...

Bulls!!!

Yes it was and I blew my account up getting stopped out @ .06 :p :p

Did ya'll see that 500 size offered @ .87, real selling, not a spoof. Someone got the numbers early? Or just some shenanigans between GS and JPM trading desks :D

http://www.youtube.com/watch?v=gqsT4xnKZPg

Yes he's ET's King of Marketing :p

Surf can't distinguish between the way institutional money managers are forced to trade/hedge/invest as a result of the amount of capital they must deploy, and the small retail trader who exploits this fantastic inefficiency caused by the very size that prevents any single institutional...

Surf, you crack me up with your posts. CCI is an indicator people use to attempt to predict future price action. Technical analysis of price action utilizes "what happened" to find and exploit probabilities of one thing happening more often than another. Trade entries are based on what price...

Then how do you explain the FACT that the same patterns that existed decades ago are still repeating today?

Automating what I do using context filters would require quite complex coding and a great deal of time. The ATS is based on my core concepts, not the advanced stuff I do now, manually. I compiled statistical data surrounding "tradable" price swings (price swings of N ticks or more). I found...

Al Brooks' Reading Price Charts Bar By Bar is a comprehensive price action course for intermediate/advanced traders. He provides information on exactly where to enter, and how to manage risk (stop loss). Profit targets are flexible. I personally base my profit taking on how price reacts when it...

And here: http://www.tischendorf.com/2010/01/16/bo-yoder-and-vadym-graifer-6-stages-of-a-trader/

The carefree state of mind comes from knowing beyond a reasonable doubt that your trading plan, if followed, gives you a statistical advantage when applied to a series of trades over X time period. If you don't know that, then do the research and testing necessary to know that. That's as close...