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Great post, Bolimomo. I always "paper trade" literally on paper in real time. Looking back at charts to determine what you "would've" done leaves out a lot of the price action that occurs within a time bar - the false signals that might've sucked you into a trade, but you don't see that on the...

I agree. Amateurs can practice trading equities midday on a vast majority of stocks that consolidate in a range. They make the initial run for 60-90 minutes, then close into a narrow range of .10-.50 cents depending on the price. A beginner can comfortably take profits between support and...

LMFAO!

Color is irrelevant; the bars could be black and white or blue and yellow, no matter. But what I like about candles is they give me a very quick visual of a possible reversal setup, or a good entry point to catch part of a continuing trend. This works in any time frame, as long as you’re...

BP, I was making reference to my silly post. In reality I am well aware I'm in EARLY stage 1.

No, no no. If you check out my record I progressed to stage 2 in January and am an official shortologist. I'm giving it to the end of the year before considering the big step to Stage 3. :D :D :D

Yes, topping tail on Wed ("shooting star" was my usual term for this until BostonKiller introduced me to the delightfully descriptive "F.U. candle"), and a lower high from May 8th. Longer term you'll see that this is actually the 3rd lower high from early November's failed bounce, with March...

Three Stages of Trader Evolution: 1) Buy 2) Sell 3) Bye

+ $84 Day - $279 Week We have two internet providers because last year we discovered that every time it rained, Comcast internet would die. Not good for day trading. So we added Qwest last fall as a backup and it’s worked pretty reliably for quite a long time. Yesterday and today it’s...

Thank you, Hog, for you post. You make many valid points. I am guilty of trying to lock in profits too quickly instead of leaving my original stops until the trade plays out. I no longer risk much on my trades. I enter the trade when it sets up and place stops where the trade would be...

+ $84 Couldn't trade much today, internet crashing constantly. Qwest allegedly fixed it near day's end.

Since Geez is sleeping and it's still early here, I'll give you some solid reasons for these trades. I shorted UHS at the exact same moment as Geez on the first trade; it was funny, he announced the trade and I had just shorted at the same price. After a strong run on the open, UHS quickly...

+ $59 Today I decided to only take my strongest setups and it paid off with 5 out of 5 positive trades. Traded 100 share positions and made no order entry errors for a change. I’m still moving stops too soon and too close, leaving a lot of profit on the table as a result. On one trade I...

+$59 Still 100 share positions, no errors for a change, and only took strong setups. 5/5 positive trades. If trading my regular 500 share size, this would've translated to a reasonable day.

I've been told that successful trading often "feels" uncomfortable. Try riding some trends by entering on a pullback like I described in my previous post. Start small and if it moves in your favor, add a bit more. You have a very solid tight stop area when you do this. When you try to pick...

QT, I'm using a new trading platform that allows me to place stops anywhere (Etrade you had to be .10 cents away fro the bid/ask), and so the past 3 days I've been trying out a bunch of stop strategies, mainly because I encountered the same sorts of issues you describe here. In fact I started a...

Geez, you MOVED YOUR STOP??? I'm wringing my hands and gnashing my teeth.

- $36 Traded very small size today, 100 and 200 shares because I wanted to master managing multiple trades with the DOM, and wanted to try out various strategies; I traded anything that moved to get a feel for the various tactics I wanted to try out. The main stocks I traded were ASIA...

- $36 Traded like crazy small size, testing many entry and exit strategies. Only two errors today and I figured out the two things I was doing wrong with IB's DOM. By mid-day I was able to comfortably manage 3 trades and that will remain my max for now.

Good analogy. You pay a little "insurance" premium for a policy that guarantees you get a certain price for your stock even if it loses all its value. This is where you'll lose them every time. :D