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Thank you very much for posting the scalping article. I found Al Brooks' "Reading Price Charts Bar by Bar" to be the best technical trading book I've ever read. It's a tedious read because of the way it's laid out and written, but worth the effort.

Thanks, tomahawk. That 5 pt stop trade I did was based on previous action near highs. It was a "woman's intuition" trade :D I was quite surprised when it showed so much additional strength and came so close to my stop, but that was the price I was willing to pay to avoid trying to time...

I'm doing my best to trade pure pattern recognition, because I still allow myself to form opinions based on news and fundamentals which keeps me out of excellent trades because I form an opinion such as "ANF is the most overvalued clothing retailer and should drop back into the $20's", which...

I use a 5-min chart for ES, and a 3-min chart for stocks. I don't think it matters what, if any, indicators you use; I think what's most important is you're able to settle on several "pictures" of price action in your preferred time frame that leave you with confidence based on the positive...

They've yet to turn a profit and so it's nothing more than a low risk ($1/share) speculative play in the hopes of a buyout rumor, an actual buyout, or actual profitable growth over time. Institutional investors (who are responsible for seriously bidding up the price of stocks) generally...

I like the 20-period MA (exponential on my ES chart, simple on my stock charts; they're pretty similar), because it tends to provide the best floor/ceiling for entering with trend, and for detecting a possible trend reversal. If you look at the chart on the last post on this page (6/10/09)...

I'm a Ms. NoDoji :) I day trade so I use two intraday strategies, counter-trend and re-entry with trend. 1) I look for trend reversal signals, especially after 3 legs up or down or after a large climax move. I find these trades especially gratifying because they usually result in quick...

Yes, it was so frustrating yesterday to watch every one of my scratch trades go from at least 1.5 pt profit to stopped out b/e. If I'd had 2 or more cars I could've scalped 1-2 pts on half and leave the rest locked in at b/e in case of a further move in my favor. I think I had 4 scratch...

If you're trading the index futures long term, then you are very right to stay with the trend or enter the trend on pullbacks. But if you're a day trader or short term swing trader, you can make some quick profits counter-trend trading against the larger trend. Yesterday, ES had a 24 pt...

I thought I was the only one in the dark about this. Most of their P/E ratios are ridiculous (60,70,120), commensurate with the P/E you'd expect from high growth companies with no competition and huge barriers to entry. Their earnings have declined, not grown, and please tell me where the...

I'm a noob to trading ES and to this journal. I found Ammo's style very interesting and pm'd a few questions. He, in so many words, told me "Don't try this at home." It was also clear from the short time I followed his calls that when he no longer liked the action, he took a loss. He didn't...

I do use Booktrader and I use the Alt-click to auto-bracket orders at times, and sometimes I don't. I don't want to use it if I'm catching a volatile move or if I expect a quick move off my entry signal because it defaults to a pt on either side and that would quickly take me out at a very...

+$342 Day +$1637 Week +$1504 Month I should've killed it today, but ended up quite disappointed that I hesitated to put on two trades that actually would’ve provided some of the best moves of the day. I also only traded 1 car instead of 2. Not sure why I hesitated later on after trading...

There are days every week with decent moves, usually in the first couple hours of the day. It's not luck, it's a common occurrence on news days. And on range days and trending range days, although the moves are smaller, the trading's actually easier because it's more predictable IMHO.

+$342 Day +$1637 Week +$1504 Month I was disappointed today that I hesitated to put on two trades that actually would’ve provided the best moves of the day, after trading quite aggressively early on. I also only traded 1 car instead of 2, and 1 car is difficult in terms of managing ES...

Captured 6 pts so far all to the short side. I have an extreme short bias though...

One hell of a "green shoot" appeared there my 5-min chart. Glad I covered my intended "swing" short position at the close yesterday!

If the trade immediately goes my way I think, "Why did I put on such a small position?" If the trade immediately runs against me I think, "Why did put on such a large position?" If the trade just sits there drifting back and forth a few ticks, my head starts to fill with way too many...

Previous pullbacks in the trend have all been followed by 25-30 point pushes higher. This last pullback has managed about half that so far. It's difficult to imagine what the driver for another big push up could be. Weaker dollar? Isn't there a point at which it would no longer prop up the...

I have a multi-month daily chart that I reference with a 20-period EMA. 1096.00 rests on the 20 EMA to the tick on my chart. When Pokito made his call I thought, "Definitely a solid target, but today???"