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I have so been there, looking to get out break even and so focused on that idea that I cannot see what's in front of me and simply take the smaller loss. Pa(b)st Prime once posted here: “Being disciplined in the past isn’t good enough: on each and every trade you must be disciplined...

NoD: "Neke, this is your Mom again. How many times do I have to tell you to stop shorting stocks with a 20% short interest that open gapped up..." Neke: "But it was too high to buy!" :p

Sure, why not! It's a no-risk trade! Has there ever been an IPO that didn't at some point trade higher than their IPO price? :D

1. I was short during the 9:31 bar but not the early entry price level of .50 because if the 5-min bar doesn't break downside, it's still a potential trend reversal to the long side. I shorted lower on the break of the 5-min bar. 2. At 10:30 price hadn't yet reached the 5-min 20EMA. Maybe...

I believe learning to read music ends up being a good foundation for intraday scalping because you're conditioned to react immediately to what you see. The difference is that in reading music you're glancing ahead to be prepared for what to do next; in trading you're glancing back. But the...

With reference to oil, which I believe we both trade: In a strong trending move, the 1-min 20EMA should hold as support/resistance. In a strong trend, price rarely gets back to that 20EMA, so I may use a trailing stop to enter the trade. I wouldn't want a stop loss to be too far to the other...

ET used to have a chat room and when I was a beginner I called my trades there. When the chat room closed one of the guys, Robert Weinstein, started his own room because we all wanted to stay in touch each day. I believe Bob's room is still active; you can contact him here on ET. I think they're...

Considering variations on a theme, that's about right :cool:

"October: This is one of the particularly dangerous months to invest in stocks. Other dangerous months are July, January, September, April, November, May, March, June, December, August and February." - Mark Twain :D

Yes, that's how I always defined those bars! I was trying to find an example for you, but you found it first! :)

Oh I remember that, that's a standard breakout strategy. That was before the volatility in CL really died down. I wonder how well that works now with that stop/tgt... (ADD: I see it certainly worked this morning). I usually have 10-15 trades a day. P.S., thank you for your kind words :)

I prefer a minimum of 20 ticks, but if the PA is narrow or there's a lot of congestion between sides, I'll often settle for less. Yes, once a trade has moved favorably by the amount of my stop loss, I move my stop to break even. I'll also move the stop to break even if price attempted to do...

What I'm calling an outside bar is a bar whose high and low engulf the high/low of the previous bar, evening if the high/low end up being wicks instead of body. If only one side of the previous bar (the high or the low) is broken by the following bar, that's not an outside bar. (ADD: Wow, we...

I don't specifically remember that signal, but if I posted it then it must've been an idea I tested that had positive expectancy. The way I adapt stops and targets is when price runs very strongly and the individual price bars expand, I have to consider that a wider stop and proportionally...

I see one outside bar on the Nov 1 part of that chart, the bar in your cross hair. An outside bar is a bar that breaks both the high and low of the previous bar. However, the previous bar is an inside bar and the break of its low means nothing to me in the context of a gap a go scenario...

I used to trade a patented Metric Trading System as noted in these 2009 posts on my old journal here on ET: "Short APOL @ 61.70, sellers came in when price pulled 1 cm from the 20 EMA, covered @ 60.86 for + $332. (NoDoji's Metric Trading System)" "Despite my fears, I bought the early dip...

When gas prices were running up my friends who know I trade oil futures would always ask me, "Is that you making the price go up?" :p

Just my 2 cents, but I'd venture to guess that pinning is focused more on monthly options than weeklies. Weren't weeklies designed to extract more commissions out of the gamblers? :eek:

I'll be happy to comment when I'm in the neighborhood :) The core concept behind my trading is...when price prints a directional move as evidenced by at least two bars in the same direction (no inside or outside bars) and then price breaks the high or low of the last directional bar in the...

As a day trader using a 5-min chart I found that the bigger picture is meaningless as to whether I'll be long or short at any given time. The PA concepts I use work fine in bull and bear markets as well as daily/weekly bull and bear swings. The one area where I've had to adapt is when...