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+ $261 Checked carefully and only one open position and it's an intended one :cool:

SYNA's a great intraday short, but I agree too soon for anything longer term, because of the gap risk.

Mad_badger: The man responsible for introducing me to the $500 rule! Thank you for that rule, Mad. This ensures that, barring a dreadful overnight gap, I will never again take a $1800, or $2500, or $6500 loss :cool:

The true professionals who post on this site actually provide valuable input, and you are one such person. Thank you for posting your scaled trades; it's provided me (and I'm sure many others) with insight into the value of this method. Every neighborhood has its crazies; it's best to ignore...

Thanks, Boosh! I can't believe how long it takes to get to this point psychologically. I envision Cesar Milan the dog whisperer standing over my shoulder zapping me whenever I have a "wrong thought" and it's finally working me toward absolute discipline.

Hermit, when I found the trade I had on, I was planning to short the stock with a specific stop loss in place. That same stop loss happened to be my $500 line in the sand. That $500 is actually what I call a disaster stop. I use it when a stock gaps against me. For my regular planned trades my...

I just realized something. When I found my rogue STEC position, the VERY FIRST THING I did was place a stop at the $500 line. I didn't stop to think about it. I didn't consider holding the position if it ran further against me. I didn't start looking up analysts' opinions. I didn't...

Hog, speaking of which, I sent you an email. Please check your email before the end of the week :p

This is very true. I've entered overnight trades that have run against me before the day's end, but bring in my best profits the next morning. So the day trader would've closed the position at a loss, but the swing trader gets the profit. I've also seen two traders take opposite sides of a...

- $454 Spent much of the day dealing with tax stuff and near the later part of the day I went to trade. STEC had run up earlier and looked like a possible short. Imagine my surprise to find I had 200 shares short STEC from yesterday’s trade. Somehow I shorted more than I covered. Anyhow to...

- $454 Order entry error I missed from yesterday took me down by the time I noticed it. :eek:

Hog, I am very, very close. I totally understand everything we've discussed over the past couple months. I've been "paper trading" SPY with fantastic success using those strategies. With this paper trading, I've been focusing solely on trend following, which as you know I've never done before...

SYNA is an interesting one for me. It moves from overbought to oversold and back in nice trajectories on the daily chart. It does, however, present some dangers to the short side: 60% short interest and solid fundamentals ensure that it will likely continue to make new highs for a while. My bias...

+ $312 I was itching for a SYNA short on open because futures were down and I love the speed with which SYNA falls when it falls. I saw the Ask in pre-market @ 37.50, so I added myself to the list. My 37.50 offer was lifted immediately and that was the day's high. Covered @ 36.67 when it...

+ $312 Still 200 share size plus I seriously undertraded :D

Nice stuff, Chris. Esp think like a casino and think high probability. Anything less than high probability just nibbles away at profits. I actually had "Be humble" on my original list! Then I deleted it, figuring removing right and wrong from your belief system covered that, because the need...

I use the 3-min chart for intraday trades and reference the previous day's chart and the 30-day chart for near term S/R levels. I use the 30-day chart for overnight trades and reference the 6-month and 52-week chart for major S/R levels. I do use the intraday 3-minute chart to try and get...

You got it. I'm trading small until I've exercised strict discipline for a significant period of time. It's only been two weeks since I even got a trading platform that allows me to scale in and out of trades without getting eaten alive by commissions. Once I'm consistently trading 400 shares...

Hog, you are getting me in an edgy mood now. :p Most of my scalping occurs during the doldrums when price is trading in a range. My overnights are planned as overnights. I'm not "hoping for the best", I'm putting on the trade based on price footprints that indicate a particular move to a...

If you have no edge in your favor, you are right. But if you have enough screen time to put in an edge in your favor and your max loss is tightly controlled, you will always have gains. (Check out this journal: http://www.elitetrader.com/vb/showthread.php?s=&threadid=148752) My 6/3 trading...