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I have an old friend in town all week and so very limited trading time. Also I've found that anything midday tends to be way too much work for limited gains, most of the time, not always.

Christian, in your experience which intraday automated systems produce the most reliable profits (assuming they're designed well): trend-following, counter-trend, or breakouts?

Yes, but the question for the rest of us rogue traders is: Was it really slow or really fast execution? :p

Hey, I came really close to ES-335 today. I have one of those, blonde like me. Since I added the 2.0 Keltners and now have 5 lines across the screen it does look a lot like my ES 335...maybe that's why I like them. :D

My max risk per trade is $500 and that would only be contemplated under very unique and rare conditions. If it's a lukewarm setup (and as you can tell from my post earlier today I'm doing my best to avoid those) my stop is 1 pt. For a very strong setup I usually put in a 5 pt stop...

+$352 Didn't even wait for the ORB to set up; the market looked so weak in pre-market action that I shorted ES @ 1096.00 just before the open with price very near the uppermost channel line; covered @ 1089.50 pivot off deep lower channel line overshoot for +$320.20. Short JPM @ 41.14...

+ $352 Limited trading this week with company in town this week, but this works.

I have to thank Hog for opening my eyes to facets of trading that I never really thought of. I'm still a counter-trend trader at heart, but I no longer attempt counter-trend trades without a reason. I used to put on a counter trend trade simply because stochs indicated overbought or oversold. I...

I must say that I see the ORB work very frequently, but I'm still not real comfortable with it now because price has been breaking to the upside but only for a short bit further before pulling back (sometimes quite hard). Lately, I watch for the long trigger price to be approached and I think...

+ $18 Watched CL in pre-market and went to short it @ 75.04. Before I could hit the Ask column, it dropped to 74.94, which put it out of my $200 stop range, and it proceeded to make new lows. This is a tricky one to day trade. In sim I chase these when they pull away from me like that, but I...

+$18 Missed most of the day, friend coming in and will likely miss most of the week. Usman, I've been learning futures trading. Give me a few months and I'll be posting $3K days regularly.

Holy crap, Win, you've graduated from beer to screwdrivers???

This should be one of the Ten Commandments of trading :)

I think this is key to the path of long term profitability. It seems the days I have the least trades (1 or 2), I have the greatest gains.

I think the positive expectancy on this particular play is high enough that the winners outweigh the losers. I often trade similarly and I have a pretty decent win %. The scaling turns out to be supportive. Friday, I watched price move down to test test intraday support, placed a limit...

No, I havent. Al Brooks' book will keep me busy for months. I read several pages, then watch in real time how the many patterns he describes play out. Seeing patterns on a static chart (after the fact) and watching them form in real time are very different, as looking at a storyboard is quite...

The more I think about this, the more I like it. I'm adding this to my trade management arsenal. Thanks.

Order! Order! Let's keep the convo on track! Better yet, let's all take the rest of the day off and go play in the park. We'll be there from 11:30 a.m. (Mountain Time) through the early afternoon enjoying picnic with friends, followed by Bocci, croquet and volleyball. I'll resume...

Brooks' book is pure price action trading. He uses 5-min price bars with a 20-period MA as a reference point (if it's falling you're in a downtrend, if it's rising you're in an uptrend). My friend told me about the book because he knew I was using 5-min price bars with a 20 MA as reference and...

Do you only scale into trades that go your way? A trend-follower may want to join a trend on a pullback to the trend line, isn't sure exactly when price will pivot (slightly above, at, or below the TL), and so scales in 1/3 slightly above, 1/3 at, and 1/3 slightly below the TL, with a stop...