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STEC is at major resistance, but its 2009 earnings are estimated to be more than 2x 2008. It's P/E ratio is obscene. What kind of growth are investors expecting? I think this one's a good short on any rally just for some retracement of the gap and you have the major resistance as a solid stop...

Geez, when using the LH/HL strategy do you have an idea of what percentage of these trades move against you and get very close to your stop before then making it to your target?

Awesome trade, Bob! But I don't think it's a record. My memory is only semi-photographic, but I believe you had a $6000+ day trade on TIF or TRA or one of those "T" stocks last fall :p

Tomahawk, can you provide an example of this (illustration would be great, but even a description of this in action would work).

Ahhh, picture perfect long setup: Double bottom followed by a higher low. Now what would that long position be worth at the end of that spike assuming a $1000K investment (I know nothing about Forex).

(Mephisto, I don't recall seeing him.) -$176 (not taking credit for that LPS trade) Offered 43.45 HANS at open because it often lifts anything within a dollar of previous day’s close, but it opened much lower. Then I watched it rise above 43.00, prepared to short and it fell .20 cents. I...

- $176 (actually made an additional $240 on an IB trade, but refuse to take credit for it because most of it was due to a mistake.) :eek: Very actively traded (mostly POT) working with various stop strategies. Considering I made a default qty error it worked very well and without that...

PRU was #2 on my list for Monday (WHR was #1), and waking up just before the open, I too saw the gap down and figured I'd wait for a bounce to short it, never happened, just dropped all day. Friday it had made an and of day hard run up into the close continuing a five day bull run. When I see...

Thanks, Hog. I only intend to scalp during down times when a stock establishes a range. I can't do that now, because of the commission and stop issues, but had no problem with IB's book trader. I still intend to give ES a go. I've been wondering if AMT managed to go long over the past couple...

Jaguar Paw and it was awesome!

Sell the News: You list all the reasons I've been interested in giving futures trading a try. However, I was curious what the "perils" are, as the OP intimates.

I do not know the perils of futures trading. Please let me know what they are.

I agree, Rabbitone. A losing trade doesn't prove "you" wrong. A trade is put on based on a setup which leads you to believe the price has higher odds of moving in one direction than the other. The stop is nothing more than a price level in which the setup would be invalidated. You short a...

+ $186 Placed morning volatility target of 43.20 for HANS on open, filled for a $186 net gain. Target based on sequence of higher lows each day and yesterday’s low being around 42.90. Later watching HANS and although it was way “oversold”, it was looking really weak L2-wise stuck at...

+ $186 Closed the overnight, no other trades, then practiced using IB via demo trading, which made me realize I've been in day trading hell all this time.

As a new trader, I saw Red's massively profitable track record and asked him, "What is the secret to your success?" And he said to me, "Mojo." It don't get no more discretionary than that!

- $63 On open, placed an “oh shit” offer on HANS @ 44.25 and 44.00 was hard resistance as it dropped over .70 cents from there. 9:52 a.m.: Shorted @ 43.71, overbought, pull back from lower high, stop just above the HOD. Rallied to 44.00 again and sold off hard. Moved stop to b/e then...

- $63 Once again no patience, no focus, and under traded, taking a pittance of my setups. Holding HANS short overnight @ 43.60 when it broke down the intraday moving averages.

Geez, nice chart. It shows the high at 13:40, then a lower high, and then the ultimate short entry signal - an even lower high that leaves a red shooting star (or F/U candle as my friend likes to say). The other short signal you can see is that the series of lower highs keeps bouncing off a...

I KNEW if I stuck with Elite Trader long enough the true secret to trading success would be revealed! (And to think all this time Mr. R.W. had me convinced it was a lucky coin.) :D :D :D