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I had a limit to sell .55 (wide range fade play) and chickened out at the last minute, worried that it might take out the 20-day MA. My head's a bit sore from pounding it against my desk :p

I have no official students. No one I've spoken with or read about on forums trades like I do, though a few people know exactly how I trade and could tell you almost to the tick where I went long or short on any given day. Knowledge is transferable but the ability to apply it fruitfully is not...

Under certain conditions I take less than 20 ticks. These are generally counter-trend trades and trades during choppy conditions. But sometimes I have a string of break even trades and it really just makes me tired and I lose focus. Yesterday I had five b/e in a row and said "Screw this"...

If price immediately turns against me (and sometimes these trend continuation trades do, especially when the pullback is halfway to the middle of nowhere, lol), I get out when my initial stop loss is hit. I use a stop loss no greater than 15 ticks. Once price runs more than 10 ticks in my...

That is one ugly chart! Looks like it's gonna crash right through the channel. I imagine that makes it all the more powerful a buy signal :p :p

As Bighog would say, when the Big Dogs start sniffing around this close to the hydrant, chances are pretty good they're gonna get close enough to whiz on it :p

I offered private or public therapy to Mac, and he preferred that I post the session on his journal :cool: * * * * * I found that I needed a very specific framework to work with. Too much discretion caused me to believe I could outsmart my own simple (and consistently profitable)...

I have a well-defined plan and I'm a scalper looking for 20 ticks on each trade. Here are my thought processes and trades during the move up (times are PST): 7:05/7:10 This is what my friend and I call the ATM setup. Price closes above the 5-min 20EMA following some downside action below it...

I show the HOD at this point having touched the falling 20-day EMA. But there is still that range high in play if the upside gains traction again.

Don't get too concerned....yet. The HOD is the 20-day MA in a downtrend :p

Do you ever average down on a losing trade?

I read a blog that said a lot of fund managers are seriously underexposed to the market during this year's bull run and barring any disastrous news they'll be bidding every shallow dip to avoid underperforming their peers too badly. This is allegedly the cause of the Santa Claus rally that...

Notice how every little tiny pullback where counter-trend faders think the move is going to reverse is a perfect entry into the trend. While these trend followers are accruing gains 20 ticks at a time (or holding/adding to winners), the CT traders are eroding their accounts 10 or more ticks at a...

I can promise you that if you want to easily make or lose 100 ticks in CL, trade with or against a strong trend or a strong trending move. It's your choice. Once a key level breaks with conviction, "they" got your back and it's very, very difficult to lose money trading in the direction of the...

http://www.youtube.com/watch?v=cn_MZ6d5q9A :eek:

Funny you should mention 1a; I wondered about him today while cleaning up my Skype contact list.

Your posts about zero sum game aren't meaningful in terms of consistently profitable trading over time. An edge that is traded according to the rules that define it produces profits consistently over time. The distribution of gains and losses over a series of trades taken by the rules of a plan...

I don't know, Vis, seems like you're a natural born day trader :D

Is your ability to utilize your gains contingent upon identifying the party who took the other side of your trade? If the value of that put runs beyond .67, does that mean you paid for the gains of the party to whom you sold the put?

That little triangle breakout was the only long I could get into after the news (per my plan). The big black bar sucked in the first round of shorts, then the other smaller black bar sucked in the second round of shorts. So the break of the triangle made sense to me.