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I posted this on my journal Tuesday: Saw this article today about how shorting BIDU at its current levels is a no brainer: http://seekingalpha.com/article/150...ish-in-a-barrel I have to agree with the author that the setup looks enticing for a short, but a look at BIDU's 3-year chart made...

ES established long signal @ 971.00 and short signal @ 964.75. I didn’t take the long because the price action showed weakness there. It then fell to the short signal and I didn’t take the short because it had pulled so far down it would take out my stop upon an expected return to the 20...

No trades today. Tried to short WHR early on and no shares, missed a quick .70 move :mad:

Nice thing about trading: If you book a nice profit by noon, you can take the rest of the day off! I'm assuming you're trading SSO again. The initial trend line leading into 11:30 a.m. is really steep, so although it appears to be "broken" around that time (when the first lower high occurs)...

Mr. W, Notice how your ONE losing trade was TUP. I believe moms everywhere would agree that shorting Tupperware is like shorting Mom or Apple Pie. :D

Ask away, this is an educational journal (I hope). I'm still terribly prone to "too high". I kept thinking it all day with ES, yet I didn't think it was so high I should short it. That's kind of the mental signal, eh? If it's really so high why ain't I shorting? Because some part of me thinks...

All I could think of today was the suggestion made to me to use 10-20 pt stops :confused: :confused: :confused: The only stop to use today was the BUY stop, you know that one I was just about to place when I scratched my head and thought, "The price is reeeally close to major resistance, why...

A day of nothing. Nothing ventured, nothing gained, nothing learned, except if I don’t start jumping at my signals, I may as well give up. Watched the opening range ES establish 949.25 as a short trigger and 954.50 as a long trigger. The long signal triggered, and instead of having my buy...

Not having much ES experience, just how much damage would I suffer if a 2 pt stop were on 1 car was blown through on news? Seemed low risk to me.

No trades. ES signaled long for me @ 954.50 and I thought it was too close to resistance to rally much. All the way up I thought I would join the trend if it pulled back a decent amount. hahahahahaha.

Yes it would've worked out great. I got the long signal @ 954.50 and didn't take the trade because I thought price was too close to resistance to rally much. Still kicking myself... After much paper trading, I've found that a 2 pt stop is fine. As for a target area, take profits when the...

jr, it looks like you're definitely chasing the trades, and possibly overtrading instead of watching for the best setups. SSO has been in a steady uptrend for days and opened gapped down from yesterday's close. Normally you'd expect a pullback to the trend line off that gap. The open gave a...

Thanks, tomahawk. It's very frustrating when I let my opinion get in the way of pure technical trading. I can't seem to get out of this rut. I spoke with one of my trading roomies the other night who has a similar issue and we've vowed in a few weeks to get on Skype together, state our setups in...

20K shares or so PZZA early last November would've done it :D

That's the other advantage of entering the trade the moment it sets up: You can usually get your limit order lifted rather than pausing to think, seeing the price move in your intended direction while you're thinking, and then jumping in at the bid or ask so you don't miss too much of the move.

Hi Susannah, I paper traded SPY and hated it. I don't even know why I hated it, I just did. I really really like ES, but I want to be totally mechanical with it, the way I am when I paper trade. I had a fear that once I started trading live, I would trade differently. And sure enough that's...

+$11.70 Short ES @ 947.50 on pullback from upper channel line. I waited too long and it was already close to the 20 EMA by the time I got into the trade. I moved my stop close to b/e because the fact I traded so close to the open without waiting for a clear trend signal meant price could very...

+$11.70 Only two tiny trades, chose to further paper trade ES most of the day to tighten up my discipline on patience in waiting for setups and speed of putting on the trade. (Hermit! That's my favorite recipe!)

Saw this article today about how shorting BIDU at its current levels is a no brainer: http://seekingalpha.com/article/150078-shorting-baidu-easier-than-shooting-fish-in-a-barrel I have to agree with the author that the setup looks enticing for a short, but a look at BIDU's 3-year chart made...

Should get another bounce in tech tomorrow. CSCO next resistance (from Oct) is 22.40; should be some old buy-and-holders looking to get out, and price this far above the 200 MA usually pulls back at least halfway in the near term.