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I went long with a 1 point target and 1 point stop. Normally, I go with a 2 vs 2, but market was bouncing in small range. My system indicated this would go to the long side vs the short side, and I did make my profit. However, it sure seemed to take a long time to get just 1 point. I was...

If you live in USA, can you still trade European style index option on the es or if not what instrument would you trade, and could you give example of the actual symbols for this version? The other way I could see doing this would be to analyse the market, and decide if it will go up down...

I did a quick check and STEC does have options available to trade. If you can not short the stock, and especially since you don't plan holding for more than 1 day, you could either buy puts or sell calls. If the stock falls, these options will make you money and since its just 1 day, you...

Market may drift down after close since day traders need to be out end of day and will take their loss at high of day.

Well, I had a big loss yesterday even though number of trades was net profitable for what another trader told me was rule number 1, I did not have a stop on the trade, and kept thinking the market was going to turn so ended up averaging down against the upward trend. Put new rules in place...

So for example instead of selling a vertical a month before expiration to capture time decay, you buy them close to expiration in the hopes that they will make money due to a large movement in the market during that time frame.[ QUOTE]Quote from Jym: Yeah rarely if ever do you see anyone...

Thanks, I may stop trying to counter trend trade for awhile, since I got hurt doing that yesterday mainly by not having a hard stop set which would have limited the losses.

So if I am day trading, I should look at previous week and day trend, and only take trades with trend to be safer until I see for example a day that takes out the low from the previous day, and then look to play the short side. Or do I just trade based on my current chart if i see short. For...

Yes, you are right, I actually saw I entered in my 1st trade at 1036.25, and 2nd at 1034.50 and then targeted 1036.25 for real money. Demo, I got out 2nd contract near 1038 level. I looked back at my charts, and saw that I should not have gotten long till around my 2nd entry and my 1st was...

This whole week market has been bullish so if you not sure which way to trade, you have a better than 50% chance of winning just by going long. Of course next week can be different, and there was a nice short trade that I missed today.

By the way, I made 2 mistakes yesterday. 1) A trader that helps me on my system sent me information based on the Dec contract, and I thought it was for the Sept contract so I did not trade correctly on 1st trade in morning yesterday. 2) On that same trade, I did not set a firm stop and...

I have set a daily loss plan where I can either take 2 trades in a row without averaging in to take the stop or 1 trade where I average into the trade ONCE, and take the stop. Ok, so from this message, obviously, I averaged into the trade. I went long at 1035.25, then I went long again...

Market has been making higher highs and higher lows this whole week. To confirm the trend is broken, I think we would need to see the market CLOSE below the previous day low. Of course some of you like ammo may be able to finally pick a top.

brake is what is in the car to stop it. break is when you break something like resistance. So break out is going past previous resistance to new highs. After getting stopped on my short, I went long, got stopped, then went short won, went long again won. I need to not average into...

Short 1038, stop 1043, 1st target 1036, 2nd target 1034.

Seems optionshouse may be less expensive than IB, but I see no reviews of them. Anyone use optionshouse for stocks and options instead of IB?

Hi Stevesbg, You mentioned you trade in an office with other traders, and it sounds like you trade es futures as a non retail trader. I have not heard of any prop firms that trade futures. I was wondering is there any way I can join? I have been trading futures real money and have been...

If the option is deeply in the money, you could also then buy a put to lock in your gain, or sell the stock and buy the option assuming you don't have to overpay to get out of the trade.

Hi, I understand you trade based on price action. I trade based on a system. Obviously, all systems are based on price. Targets and stops will be for you or nodoji may be based on "price action" if both of you trade the same way, I don't know, maybe he is your student. Anyway, my point...

Ok, I understand, you move the stop up which is a little different than me where I move the target down a little. However, its the same problem, fear of loss. I am not saying you fear trading, in the past I have had losing trades and days where I keep trading and want to get out the trade...