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Every trade is a gamble. Some trades are like betting red or black on the Roulette wheel; others are like covering half the board with your bets. Technical analysis increases your odds and, in fact, is a footprint of how the majority of the crowd perceives the fundamentals. Day traders don't...

Thank you, Jim. That is a good idea and was already in my plans - take my signals in the first 30 mins of trading and if nothing comes of it, move on. I'm still not sure if it was a mistake not to chase my other 2 entries or not. Often lately ES trades in a range of about 2-4 pts and my...

+ $57 Hesitated to take ES opening range short signal @ 1001.25, and didn’t want to chase it when it fell quickly. When price pulled far below the 20 EMA on the weekly chart and settled close to yesterday’s support, I waited for some confirmation of a long. Hammer at bottom of the...

Kylash, your win % is not greater than 50%, so everyone here telling you to change your R:R ratio is correct. If you use a 2 pt stop, you need a 3 pt target or better. 2:1 will improve your odds even if you have more losers than winners. This will protect your capital while you develop an edge.

Havent' gotten that far in the book yet, but 92 was yesterday's support so definitely low risk entry. The problem with the book so far is he talks about all these chart patterns but only includes charts for a small % of them, so IF you have hours and hours of screen time behind you and have a...

AIG wasn't even on my watch list today. I looked at it after the market closed. Tried to short GGC yesterday @ 46.89 and no shares with either broker.

I'd like to add to my comment on this. The price action of GGC recently and AIG today is not at all illogical. Big money drives big price moves. Big money tends to invest for the long term, 3 months to several years. Day traders don't drive price moves like these recent ones. GGC traded as...

I now have many strong reasons to enter a trade. This gives me more opportunities. My main indicator is the 20-period moving average; everything else simply provides layers of confirmation. Each layer of additional confirmation means a larger position can be taken, because a very tight stop can...

RN, it looks like the attached chart :D When you see the price bidding up as 1000-6000 share prints scroll by so fast on the Time & Sales you can hardly follow it, I think you can safely jump on board at any time and be guaranteed something green. :p

Until very recently I feared the trend because I had no idea when it was "safe" to become part of it, or to catch it early on. I've spent the past couple of months studying trend trading, catching trends, when it's safe to counter-trend, etc., because my largest losses were fighting trends and I...

Hey R, nice to hear from you! How's ES going? I am using Etrade to swing trade baskets of stocks in simulated portfolios. I'm also testing options spreads, which I've never done. My first three swing portfolios did fantastic: The first one from 6/29's close returned $1500 overnight where I...

Although my equity curve is consolidating in a range, the things I'm learning through after hours study, intense screen time, BigHog's incredible mentoring from afar, comments from so many of you on this site, and working my way through Al Brooks book is providing me with "confidence fuel" in a...

I will no longer be posting to this thread. My P/L will be posted on my journal each day. No trades today.

There are plenty of stocks vs futures threads on ET, so if anyone wants to argue about it go there. Futures are definitely the less manipulated macro instrument; just look at HAR and HURN and ENRON, etc. for examples of that. There are a few futures posters on P/L thread, xxxskier for...

Who would "own" a leveraged ETF??? Have you ever read the prospectus for these things? Example: "The ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk, consequences of seeking daily leveraged investment results...

I've found it to be about the same as trading stocks because I use the same strategies, candle charts, 20-period MA and so on. The reason I considered it in the first place is because I felt I was jumping around too much with stocks, watching too many things, then missing entries. I was very...

Ha! I actually pictured that today as I watched the price action there; I thought, this is like a bunch a boys standing at the edge of a cliff over the river: "You jump in!" "No, you first!" "Come on, dare ya!" Then all at once they go. I've come to recognize these price action patterns as traps...

Off the double top, couldn't get shares from either of my brokers :( I kind of figured as much after that run.

$105 Took the early train for a range scalp, shorting ES @ 995.25 (damn it, I hesitated @ 996.00), covering @ 994.25 for +$45.20. Since this was a scalp right off the open I really should’ve covered at the lower channel line for an extra point, then reversed. Price surged briefly on...

+ $105 Just 2 trades. Tried to short GGC after the double top and no shares either broker :(