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Good to see you posting again, Bob :) Trading rules are the best thing that ever happened to me. Every day I hear your voice in my head at some point when I miss out on a trade because the setup didn't quite fit my rules or because I missed getting filled by a tick: "No worries, another boat...

Looks like we've been in an uptrend for a long time now: http://stockcharts.com/freecharts/historical/spx1960.html

I'd love to see the studies that prove buying new highs is a losing proposition. Buying a new 52-week high on the S&P has been a winning proposition for just about everyone so far. Three of the most profitable swing trades I ever had were buying right after new highs were printed. What's...

:D :D :D

This flat 20EMA crap annoys me. I'm stepping away, so count on a great move one way or the other in a few mins :eek:

Oh come on, where's the 50 tick gap!!! :p

Wow a total non-reaction, LOL!

EIA report due in a few mins I think.

In my brief trading history (5 1/2 years), the trades I put on believing they'd produce a home run produced very little, and often a colossal loss. I learned eventually to develop a plan which produces a lot of base hits. Every now and then the market clearly has more to offer and the return...

Profitable day trading requires a huge amount of R&D, business plan development and focus/concentration (glued to the screens, so to speak). More importantly it involves recognizing situations for which you prepared and making very quick decisions based on that, usually several times a day...

I love...trading. http://www.youtube.com/watch?v=gId6nrMDmUU

Consistently profitable day trading is very difficult. Swing trading is easier, but you still have to do a lot of prep work and develop a plan. There are some subscription services that provide swing trade ideas and do the "homework" for you, but you still have to have your own plan for...

For those who try to pick tops/bottoms against a strong trend or a strong trending move, I have some great advice based on my own horror stories similar to yours: Before putting on the trade, decide on the price at which you would place a disaster stop, the price you believe will never be...

I'm forever thankful for your "hand-holding" when I finally got the guts to trade CL live :)

I agree. That's why the break of that LTL this morning meant nothing. There was no trend yet asserted in that time window and the longer term trend was up, so shorting a break of that would be dangerous. You watch price react to the break and go from there. It failed to break with conviction and...

Here's a chart of the TA I'm using: ADD: I believe that's where Pinkman went long.

Price is right up there trading at that UTL on the daily I posted yesterday. The break of the short term (5-min) LTL from this morning failed as expected and the close of the 10:50am ET bar above the flat (at that time) 20EMA was a signal to either go long for a test of the 36.25 high or...

Assuming you have latest TWS installed, uninstall java and reinstall the latest version.

Any individual trade can be a loser. The fact that a trade can end up a loser doesn't mean putting on the trade means you have money to "throw away". It means the trade's potential risk/reward and your overall win rate with the setup being traded indicate a positive expectancy over a series...

GOOG could easily break $1500 if they did a 10:1 split. The stock is quite undervalued here, IMHO.