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I cut way back on drinking when I started trading in spring of 2008. When I started day trading a few months after that, it didn't take long for me to quit completely, finding that even one or two drinks in the evening ensured I was not at the top of my game the next morning. Trading has...

On April 23rd at $5.45 DDRX became fully overbought. Since it had gained over 1200% in less than month, this had to be the short opportunity of a lifetime! Anyone shorting at the close that day .05 cents below the 52-week high of the previous day never saw a profit. I wonder how many of them...

WTF, that's some stronggggg coffee, mate!

POT lowered near term guidance, but predicted a "blockbuster" 2010, so I'm guessing that long term institutional money is buying the dips below 90.00, very likely up to 100.00 at this point, not sure how much higher it will push in the near term though without earnings follow through.

Just for grins I checked my simulated swing trade portfolio from Monday's close (attached). It ended the day up $2900 (this is the one that was up $1500 by midday Tuesday). I would've taken my profits on Tuesday. How do swing traders have the patience to sit through a draw down (yesterday)...

+$181 Day +$575 Week I’ve noticed that every time futures are up pre-market, there’s a nice gain on the open and every time futures are down pre-market, there’s a nice drop on the open (ES). I’ve only noticed a strong fade on open once and that was after a very long string of up...

+$181 Day +$575 Week Have a great long weekend!

22% below target so far (2009 target is 100% return), but I had a 2-week vacation in May followed by trading 1/5 size in the 6 weeks since (sparked by an attack of idiocy during April and getting to know a new trading platform). So I can only assume that once I resume my standard size trades...

+ $110 Very little trading today. Spent most of the day studying ES price/chart action, and also a lot of chart patterns based on stuff I’m learning from Alexander Elder’s book, “Come Into My Trading Room”. Only during market hours can I compare daily chart setups to real-time...

+$110 Only a couple small trades today. Mainly studying chart action and indicators all day, comparing intraday action to previous daily chart setups action.

It took me 10 months out of my first year trading to undo the damage caused by the trades I made in the first 2 months, all of which were huge winners. The eventual cost of those first 2 successful months was staggering.

If you can abide by these rules when trading live, you will be successful. The first time you violate one of your rules, no matter what the outcome of the trade is, send me $1000. Second time, send me $2000. Shouldn't be a third time. You need to maintain a $25K minimum in your account to...

+$257 Day +$2845 Month +$16671 YTD (28%) Limited my focus to the stocks I know and batted 1000 today, not bad for 2200 shares.

Yesterday, I created a test swing trade portfolio based on daily (30-day) chart setups I saw near yesterday’s close. I put on 200 shares apiece of 6 stocks and the attachment shows the results at 2 p.m. (which was when the market pivoted off the day’s lows and I would’ve closed the...

+$257 Day +$2845 Month +$16671 YTD (28%) Limited my focus to the stocks I know and batted 1000 today, not bad for 2200 shares. My biggest regret was missing the picture altogether on ES this morning. Had my 100 share overnight ESRX from yesterday’s partial fill on and placed an...

Please no arguing on my thread guys.

Hog, I really know what you mean. It "feels" very different working with an index future. I don't have to think about short interest, earnings, insider sales/purchases, analyst upgrades/downgrades. It's very clean and focused, just following S/R, it's like riding waves. Hog, I sent you an...

+ $27 Caught one nice move at the open (STEC), shorting halfway through the opening selloff and covering very close to the round number bounce for +$86. Had a small overnight short AM from Friday @ 10.72 and expected a quick selloff at the open, which did not materialize. This disturbed...

+ $27 Blah.

The entire market had sold off over several days to an oversold condition, giving a probability boost to the IBM setup above, and to just about any fundamentally strong stock that day. With so much day trading, I've tended to lose track of the bigger picture, and I'm working on that now...