Search results

This was one of the first trading books I ever read and had excellent risk management parameters in the early chapters. I wish I'd paid attention to them back then, lol!

Hey Mav, which one did you learn to emulate :D :D :D http://www.youtube.com/watch?v=GS07u0cYk1Q

Possibly. Looks like some shares traded up from the low 8:00's in pre-market.

That is a dangerous bet. You can have a gapped up open on a triple play earnings call (earnings, revenue, and guidance beat) and the stock could sell right off. I once had that happen to me and the selloff was immediate and continued to make new lows all day. If I was experienced back then I'd...

Gaps are heavily traded at the open and can run either way on pent up emotion. The best thing to do is to watch the price action during the early minutes (10-15 mins) and enter a position based on that. Stocks with high short interest that gap up on fundamentally good news (even something as...

As an intraday scalper, I just exited at .23. If that little dip was a real bear trap, price would've run solidly through 94.27 to test the range high.

Don't fade this one Hurricane! :D :D ADD: There's a 60-min UTL @ .63, I guess you can fade there :p

Opening gaps are the result of pre-market trading (or extended trading after the close the day before). Most brokers allow for extended hours trading, but you can't use market orders, only limit orders.

Nothing's "always the case" in trading, we're only looking for more often than not as it relates to a particular win rate/R:R combo. As for knowing what taking 20 ticks on every trade would do for you, it's part of the MAE/MFE studies I did and it was very helpful. About a year ago I had some...

I can't figure out if you're a day trader or a swing trader. A day trader would've taken profits in the 94.40's (psych resistance level and 94.48 was the hourly pivot down on Monday). A swing trader would only be looking to initiate shorts or adding to short position from quite some time ago.

If you're interested in intraday scalping, study Bob Volman's Forex Price Action Scalping and don't worry about the fact that it's Forex or the fact that he uses a 70tick chart. During regular trading hours, most futures have a 1-min chart very similar to a 70-tick chart. If you're interested...

My friend with whom I honed my core trading plan automated one of the setups and his system sets a fixed stop and target on every trade (1:2). It's a strategy with a positive win rate and double reward to risk. The fact that sometimes price runs much farther than the fixed target is irrelevant...

The people who lose drown in the river because they haven't studied rivers, don't know how to swim safely in the river. A few years ago I spent most of each trading day with a small Skype group. One guy who knew my trading method completely would often enter the same position as I did at the...

Willie, don't tell me you never did that!!! :p

If I miss the proper pullback entry and the breakout is strong, I look for pullbacks on a smaller chart (for my intraday trading that would be the 1-min chart, based on the 5-min price action environment). Otherwise, I accept that I missed out and I wait for the next clean setup.

Even as a swing trader, this can work out fine in a strong trend (like the ES has been in), but there needs to be a pullback first to flush out the speculators and draw in the counter-trend traders. When you bought near the highs today, price already had run up through the 74.50 high from last...

Here's my 2 cents: You're entering at levels a day trader would enter, but not exiting when the intraday setup degrades. You went long on a pullback in an uptrend, but when that consolidation low from where you went long broke downside, a day trader would either have bailed on the break...

Same experience here. I used to just give the magic beans away and no one planted them. So I decided later to give "homework" that would lead the person to find their own magic beans. No one did the homework; they just want the magic beans. It's a waste of time, IMHO. Everyone needs to...

Your trade is counter-trend. You see that consolidation prior to the breakout to new highs? That's support in the uptrend. Connect those consolidation lows and you'll that you shorted right into support in an uptrend. The uptrend is intact until support breaks with some conviction and price...

IWM??? That's not "the market"! That's a buncha itty bitty companies whose first interview question when hiring a CFO is "Do you know how to cook?" :D :D :D