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Thanks for confirmation. :)

Ammo, http://www.insidestocks.com/momentum.asp Advancing shares and declining shares in this link - are they same as dvol-uvol that you post from ToS. Other than the fact the linked data is delayed by 10 minutes? Thanks.

out with +1 point. No more trades today unless something very interesting happens.

out 1502.5 Now short 1502.5, with a 2 point stop. This trade is not a high prob trade, but worth a shot with just 2 pt risk.

Long 1496

Thanks. In future once I get access to market internal data, I will find your insight useful. See you tomorrow.

Thanks for the thoughts! Persistence always gets rewarded. Its heartening to see another trader succeeding at taming this monster with sheer hard work. What data provider are you using. How do you use $Tick in your trading? Curious, since I just use IB data which is not real tick data and...

I have always believed that scalping ES is very hard, almost impossible. Happy to see being proven wrong by your trading :) Curious, what kind of chart setup do you have? I only look at 5 min and daily charts in ES.

AustinP, That is very useful information for me right there. Your comments give me confidence that my strategies are robust and just that they did not have enough trades and did not make much money in 2005-06 was due to market conditions. All markets go through different phases and I think...

Thanks for all the advice. Informative - I appreciate it. I downloaded my last 3 yrs tax form from IB website. I guess next step is to buy turbotax and file out the taxes.

is it because you want to minimize short term tax?

I am not looking at a swing trade, it is strictly a day trade - so happy to get stopped out for a small loss. I shorted 2 cars at 96.5, booked profits on 1 car at 92. For the other car, my stop is at 1500. So, I might lose 3.5 points on this one but I am targeting profits below 90.

it is not a great predictor but fwiw, we had 8 green daily candles in a row. The way it is selling off today, seems finally we will have a decent size red candle by 1615 EST. Btw, I am short.

To you and Metameta both- Thank you very much. Your answer was very informative and has been helpful. At least they won't penalize me in any significant way is good to know. As a matter of fact, I did have a pretty big loss like 10k or so in my first year of trading (3 yrs ago) and I didn't...

So, in backtesting I always see that all my systems fired very less number of trades and made very less money in 2005 and 2006. I was not trading then. Any long term trader can confirm if 2005-2006 was a very different market to trade? And it was almost impossible to make any money in ES...

I have couple of question if anyone can answer: 1) I trade only futures, then does it matter if I elect for trader status or not? Asking because it seems getting exemption from the wash sales rule is the primary reason for electing trader status. Fyi, my main source of income is trading...

I think that is a smart way to approach this monster. I would say keep doing paper trading though and keep records. Have a nice weekend!

filled 96 and 97 and closed the other one at 95.5

Added 2 @ 1499 Bidding at 1497, 96 and 95

So, we got 3 more scale-ins today at 90.5, 90.75 and 91 for 0.25% risk each. So, total risk now = 1.25%. After price made a 88.065 and reversed, I wanted to close the 0.5% risk around 85.5 for a 150 pip gain. However, I decided to leave it since my intention in this thread is to...