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I recently quit my job to trade full time after swing trading for about 2 years. I have about 18 months worth of living expense money on top of an adequate account balance. I am starting off trading SPY at 100 shares per trade. My point is that I there is no pressure for me to become...

Why not start off trading an ETF such as SPY with small positions until consistent profitability is achieved, Then switch to ES. That is what I am doing and I must admit that my account balance would be in a world of hurt if I went straight to ES.

If my reward/risk ratio is 3/1, then I would be willing to risk 1 point in order to win 3 points.

One strategy is to just trade an ETF based on a stock index such as SPY, or QQQ. While you might not get as many opportunities to trade, your attention will be more narrowly focused while you learn to trade. Good luck

I am pretty sure that you need to elect Mark To Market (MTM) accounting in order to carry foward losses. There is plenty of info on the net regarding this subject.

I attached an excel spread sheet to illustrate different profit taking methods. Each section contains 3 examples: 1. all or nothing 2. Taking partial profits at point that is equal to risk. (ie.. risk 1.5, take partial profit at 1.5) where only 1 out of 5 trades is an outright loser with...

I just read Van Tharps book " Trade your way to financial Freedom". It forced to reevaluate my profit taking strategy. Here was the money management method I was using. example: assume a risk of .15 and a profit objective of .30 for stock xyz. sell 1/3 of my position as soon as .10 was...

I to graduated with a degree in MIS and have spent the last 2.5 years working at Verizon . Since I was fortunate to have a good paying job and low living expenses, I banked about 40% of my take home pay. I have been trading for about 2 years and I am down about 8% from when I started. The...

To change candle properties or any other indicator appearance: Right click on Chart; Edit Studies.....

I find it highly improbable that short selling will be eliminated. Sure, stupid politicians always seem to whine about it during a market decline, but then we get a counter trend rally and they seem to shut up. Imagine how much liquidity would be removed from the market if short selling was...

I use GTT Trade Log and feel it is worth the money. I really like the various reports available to track my performance and the ease of importing data from my broker (IB).

I have had problems with high pitch whiny hard drives in the past. What ever computer you get, make sure the hard drive has some sort of "quiet drive" technology and check out user reviews for it at on the net (ie..www.cnet.com). I now have a Maxtor with their Quiet Drive Technology and...

I just recently bought 2 DELL UltraSharp 1800FP 18-inch Flat Panel LCD Monitors. They were 20% percent off at www.dell.com ( came to about $510.00 each). The sale is no longer going on, but I am sure they will offer the same sale soon. I got the Radean 9000 series video card as well. I am...

I don't know how the latest versions of quicken or money are, but when I tried both of the products a year ago, they seemed to screw up my short sale transactions. I decided to go with GTT Trade log and have not been disappointed.

For what it is worth, I don't concern myself with a win/loss ratio. The metric I use is Average profit/loss per share per transaction. It doesn't matter if I scale out or not. I trade SPY, and my goal is to average .10 per share per trade after commisions ( For day trading).

Walther, "DiNapoli Levels" are simply price levels where support is likely to manifest on a pullback in an uptrend ( rallies to resistance in a downtrend). In the case of an uptrend, the distance from reaction lows to the most recent high are measured to give retacement levels. When you...

I use Fibonacci techniques as described in "Trading with DiNapoli Levels" by Jo DiNapoli on 5 min spy charts (no different for S&P futures). From what I can see, his method seems to work in any time frame. Good Luck

www.stockcharts.com The custom scans with the paid subscription are good.

I would suspect that the markets will sell off since so many people seem to think that the markets will rally.

virtual trader: I am just hangin tight for the next several weeks until I leave my job at the end of the month ( at which time I will be able to devote all of my attention to the markets). I have put together a $64,000 stake and feel that based upon my low living expenses, it is feasable to...