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No live trades today. Had to help a sick friend most of the morning and I promised myself not to trade the midday chop. End of day provided nothing I wanted either. (I did sim trade the midday chop just for fun and decided I may amend my promise...)

I attached a chart of STEC from 7/9 with a couple of trades I took to the short side (I sadly have a short bias). But just after 11 a.m. you see large volume buying come in at an intraday support level that held strong 6 times already that morning. A day trader could've had an order prepared...

Indicators are the footprints of what big money has done. Big money can't "day trade" in and out of a position very easily. But if indicators leave big footprints pointing toward the next surge of a rising trend, or pointing toward the exits, short term traders can jump on the back of the...

I currently use a 20-period MA in all time frames as my core trading map.

ROFLMAO Finally, you reveal the key to the trading kingdom! Do you know how many awesome trades I missed going to grab a bite to eat around the open, or participating in the ORBB (opening range bathroom break)??

When you have an environment of confluent signals at the moment the doji is left behind at the bottom of a move, there is a high probability that price will rise. Combined with the fact that many traders will be watching for this setup to occur in an environment of confirmation, the chance that...

I've been day trading for a little over a year. I paper traded for about 6 weeks quite successfully, then began the real journey - great profits, great losses, smaller profits, bigger losses, eventual consistent small profitability that paid the bills, followed by violation of risk management...

Stochastics are an ATM machine when price is moving within a range. I've no idea what MACD is good for.

I often wonder about these as well - MTXX, SQNM, HURN - massive price reductions over fundamentally toxic news. It seems almost as if there's no way things could get worse, and these become quite tempting, but anyone long ELN last summer after the huge gap down found support, or long LEH last...

This is the foundation of our profession! Required reading for the wanna-be trader: Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay

As Red said, indicators work right up until they don't. If you see certain patterns work again and again, it's because the crowd responds to price at those levels in a consistent way. If everyone seemed to find value buying XYZ @ 60.00 and it moved up strongly from that price last time and...

JAP, last year Neke spent half the year dealing with serious drawdowns and stagnation. He then proceeded to MORE than quintuple his $103K account to end the year at well over $500K. Once a trader masters mental toughness, s/he has the greatest edge of all. The Nekes and Robert Weinsteins...

Those second tests of resistance can trigger the biggest breakouts. :D

This really works. I just started doing this. Imagine you're teaching a class on trading and talk out loud, not just thinking to yourself. Imagine all the students watching you intently as you describe the setup, the stop price, the expected target and why. You'll likely find yourself trading...

Neke, fantastic recovery from the drawdown. You amaze me with your resilience. The loss this week is well within the risk parameters of an account your size. Have a great weekend, and a very profitable next week.

I've been day trading for a bit over a year and used my sim trading account with IB for the first time this week. I used it for 2 days to practice trading ES (which is very new to me), trading an opening range strategy that I've been hesitant to trade live. I used the sim account to get a...

Thank you, Boosh. The colors were so agitating, I nearly had to unsubscribe. :D

Wow, I'm glad someone bumped this thread, because this is an exceptional post! I often have great difficulty focusing and your advice is solid and comes to me at an opportune time, just when I need it.

You got it right. You can't predict the future, but you determine probabilities based on historical behavior, just as an insurance company does. And since probabilities are not exact, you implement a trade management plan that takes off a trade the moment the setup indicating a "turning...

When yesterday's support became today's resistance and price broke through that resistance, it was definitely a "buy" moment.