Search results

Shagi, both your posts mirror what is covered Mark Douglas' excellent books "The Disciplined Trader" and "Trading in the Zone". Basically, if you have any kind of edge at all and you take ALL your setups, you will be a net winner over time. He makes the point that the reason a casino always wins...

Geez, I imagine had you been a member of the Apollo 13 crew, you would've been the one to bring them home safely with nothing more than pencils and duct tape.

Geez, I tried but was informed it was Sunday and the market was closed :p + $145 Short small WHR position @ 48.11, it bounced hard off 47.32, so set target just above @ 47.37 and it looked really weak as it approached target, and I was in the process of moving the target lower and it...

+ $145 Got back in town in the wee hours, less than 5 hours sleep, so I under-traded today and that is probably a good thing to do when tired.

Nicely put, Cutten. I too have been wondering how to move to the next level from 200-500 share lots I currently trade. If you have an edge, it's a probability game of taking all your setups, and whatever price action invalidates a trade determines where the stop should be placed. If your account...

Couple ideas: Avoid trading too early. The first 20-30 minutes can be volatile and directionless; give the price action a chance to establish an opening S/R range in reference to the previous day's S/R, then put on the trade. Set a tighter stop (.10-.20 cents) and re-enter the trade once...

I think Rachid's right on the money with his post. I started day trading mid-July last year and started out with fantastic gains. I was trading full time with no distractions right after a nice vacation. In late August I resumed work on a post-grad teacher certification program because I...

Most people would rather die than look foolish. There are so many threads on ET about why 98% of traders fail. Geez, you nailed it. Trading is a sloppy profession where admitting very quickly when you are "wrong" actually makes everything right. On a more important note, what's up with the...

Mike, I hate to see you spin your wheels over this, so I am going to reveal the secret: Mr. W has no strategy, no money management, no tips that can help any of us; he uses a lucky coin.

My opinion is absolute opposite. His exit strategy (stop/target) is the core of his success. Nobody makes or loses money at entry.

I'm referring to intraday only, first bounce usually a smaller move, then most often a retest of the low and if it double bottoms or pivots off a higher low, it generally makes a much stronger move. Same thing with resistance, look for double top or lower high for the stronger move down. I...

Take small position on first support for the bounce, then move in full throttle for double bottom or higher low pivot.

(Hermit, yes, we had to get up very ORLY. Thank you!) +$8 Don’t laugh - it all started rather innocently. We were taking a day off, sitting in the air conditioned room after breakfast recovering from yesterday’s sunburn and diving efforts, so I decided to fire up the laptop and visit...

Greetings from Caye Caulker, Belize! Yesterday morning hopped aboard the SKF right after the opening bell and headed out to Turneffe Atoll for a day of diving. It was a wild ride, chop, chop, up, down, up, down, but once the target was reached, it was worth it. Now I know how the folks...

Using a stop to exit a winning trade is far from ideal. Exiting any trade with a stop sucks because of the slippage. When I started this thread that was not one of the options I considered. I exit based on a target price or a target condition. When to move a stop to b/e or to lock in a small...

Rockin' it Bob! You're trading that $$ I wired you yesterday, right? :D :D Jack, I want to set the record straight. Mr. W and I once held decent sized overnight short positions that gapped $4 against us next morning and the word "sh*t" was exchanged between us several times. The word sh*t...

100% return on $60K account is my minimum requirement this year. Was well on target until contracting a severe case of idiocy last month, putting me at +20% YTD and behind target :mad:

Make your broker provide you with proof of that price from the exchange. The lowest price on 5/1 was 15.67 and that was at the end of the day.

Stopped out GEOY with major slippage (damn those thinly traded stocks) -$204 I saw NVAX back below $2.00 and was glad to have taken the $5000+ when the news was hot! Booked 3 days of diving so far, also planning to tour ruins, zoo, caves. Rented bikes and traveled the entire Caye in...

Sitting round waiting for update on friend's arrival in Belize, too hot to go outside and nothing to do but eat exotic fruit and see what the market was doing about 5 minutes before close. Saw GEOY squeezed the shorts today up to 25.78 on an analyst upgrade and couldn't resist a small swing...