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star, this trade is intriguing to me. I've never traded ES after hours (except in my sim account, which doesn't count because try as I might, I've been unable to transfer the profits to my live account). What is your basis for this trade and will you hold through that target or take profits...

With the CL missed trade, there was a small internal double top after a 2nd attempt to reach the now-falling moving average. That top gave me a safe stop zone and I was looking for a test of previous support. The quick drop took price right through previous support and so I watched for the...

This would, say, qualify as an analyst DOWNGRADE? "RBC notes YRCW reported 3Q09 earnings Friday morning of ($2.67) vs the consensus est of ($1.70). Additionally, YRCW announced that it renewed its asset-backed securitization facility as well as its credit agreement and is in discussions with...

Sim traded CL in pre-market and after the open for +$1782. After a while I was feeling very confident in my ability to read the S/R entry zones using a .20 stop (my max) and went to place an order to the short side and the price simply dropped over .20 cents from under my order. With a max...

No live trades today. Sim traded CL from pre-market through the morning for +$1782.50. Went to put on a live trade and price fell over .20 from under my unfilled order and with my .20 stop loss allowance I couldn't comfortably chase an entry :(

I'm gambling with CL in my sim account right now. In my live account I will wait and see what happens after the news...

"Could be the carburetor, could be the coil."

He wouldn't care. He's Libertarian at heart, and just brought me back a nice truckin' catalog from his last gig in Willcox. :p

Previous S/R levels seem to be very strong, however. I pegged a couple pivot lows recently using previous support, one @ 1052.00, then the next @ 1033.00. I'm an ES noob, still mainly sim trading, but had my best ever live trade Friday - 9 pts. :)

Weren't we all! I wasn't a trader back then, but our IRA's were cooking with gas before the selloff into Jan 2008.

Thank you for additional info, piezoe. I've been using a daily chart, and viewed the weekly chart only recently when Petsamo referenced it and it indeed indicated the top was very likely in.

Yeah, the trendline broke down in July, too, and out of it came new highs.

Me too :D

I'm thinking the same thing. The market anticipates the future and once the holidays are over what's going to drive the fundamental recovery? I think last week's action put a lot of fear into people who will want to take profits, mentally revisiting Oct 2007 highs when they may have wished...

I'm still a very new trader (a year and a half day trading) and have never professed to be otherwise. When I started out I was a cowboy trader who had +$3000 days and -$10,000 days and decided to go backwards in the process and learn to do things right. I've spent the past year doing a long...

For anyone here (and on other threads) who claims otherwise, nobody knows in advance what the market's going to do and when it's going to reverse direction. Very early this month in pre-market the ES fell off a cliff on very bearish disappointing news and I'm sure MANY traders thought, "This...

Since 99% of day traders allegedly lose money, I assume what you meant to ask here was: "What is different if that trader were an institutionalized daytrader?" :D

You can use up to your full buying power all day long in and out of positions. When a position is closed your buying power allocated to that position is restored. If you hold position(s) overnight it will tie up your bp for a day or two, as I recall.

Hog, when price sold off below "da line" I knew that was technically the short signal, but I'm afraid to short when price overshoots the channel because seems like 95% of the time after an overshoot, price comes back to the line at the very least and more commonly tries to visit the 20-EMA. When...

Thanks, Bob! You, too, great month! Now I need major help in letting winners run! I left so much profit on the table this week. I'm still frequently reacting off levels instead of anticipating the action AT levels. So I get in the trade later and then I'm too itchy to lock in some profit...